President Joe Biden has a well-documented history of exaggerating his accomplishments while downplaying his failures. But in recent months, the president has taken this dishonest strategy to a whole new level, routinely misleading the American people to score political points, especially on topics related to economic growth.
The following are four of Biden’s biggest lies about the economy, as well as the data you need to prove to friends and family that the White House has not been nearly as successful as it has been claiming.
Lie 1: America’s inflation problem is improving.
When Biden entered the White House in January 2021, inflation was a miniscule 1.4%. Then, Biden signed into the law the $1.9 trillion American Rescue Plan and a $1.1 trillion infrastructure package. Shortly thereafter, inflation skyrocketed.
Today, two years into the Biden era, inflation remains stubbornly high. The 12-month increase in the consumer price index was 6.4% in January. But rather than acknowledge that his policies have failed, Biden has repeatedly claimed inflation is improving and prices are going down.
Although it’s accurate to say the rate of inflation has eased compared to the record numbers in the summer of 2022, inflation remains at historically high levels. What would have cost $100 in January 2020 costs nearly $116 today. The rate of increase in prices may have dropped in recent months, but overall, prices are still much higher.
Most importantly, there has been no sign that we’re headed toward price deflation anytime soon. And without deflation, prices will continue to be much greater than they were prior to Biden becoming president.
TO READ MORE OF THIS ARTICLE BY HENRY DEARBORN’S JUSTIN HASKINS, GO TO FOXNEWS.COM HERE: https://www.foxnews.com/opinion/debunking-bidens-4-biggest-lies-about-the-economy
PHOTO CREDIT: Gage Skidmore/Flickr’s Creative Commons. Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0): https://flic.kr/p/2gvUEYf
Justin Haskins is a New York Times bestselling author and political commentator, the president and founder of The Henry Dearborn Liberty Network, and the director of the Socialism Research Center at The Heartland Institute, a national free-market think tank. (His work here does not necessarily reflect the views of The Heartland Institute.) Follow him on Twitter @JustinTHaskins.
