On Wednesday, Biden tried to gaslight the American people by claiming that the U.S. had “zero inflation” in July. However, federal Consumer Price Index data reveals that annual inflation only dipped slightly to 8.5%, still nearly a four-decade high.
Before signing legislation that grants greater medical and disability benefits to veterans suffering from illnesses linked to the inhalation of toxic smoke, Biden took the stand to present false claims to the citizens of the U.S.
“I just want to say a number… zero,” said Biden. “Today, we received news that our economy had 0% inflation in the month of July -0%. Here’s what that means: while the price of some things go up – went up last month, the price of other things went down by the same amount. The result? Zero inflation last month.”
“But people are still hurting,” he continued. “But 0% inflation last month.”
Inflation was announced at 8.5% for the month of July, one of the highest rates in forty years. Joe Biden just said inflation is at 0%. They lie so brazenly it’s incredible. pic.twitter.com/6DUCxG1W9l
— Clay Travis (@ClayTravis) August 10, 2022
White House Press Secretary Karine Jean-Pierre tweeted about this “zero inflation” propaganda, saying, “We just received news that our economy had 0% inflation in July. While the price of some things went up, the price of others, like gas, clothing, and more, dropped.”
We just received news that our economy had 0% inflation in July. While the price of some things went up, the price of others, like gas, clothing, and more, dropped.
— Karine Jean-Pierre (@PressSec) August 10, 2022
OVerall annual inflation was 9.1% in June, the highest rate since 1981.
Critics quickly accused Biden and his regime of misleading the public and trying to convince everyone that the economy is on a positive trend, when in fact, despite the easing of energy costs, it’s about at its highest annual rate in four decades.
“The Biden administration has a tortured relationship with math,” Rep. Virginia Foxx joked on Twitter.
8.5% ≠ 0
The Biden Administration has a tortured relationship with math. https://t.co/phrg6rsBEW
— Virginia Foxx (@virginiafoxx) August 10, 2022
Senator Ted Cruz also took issue with the statements coming from the White House, tweeting,
“Ridiculous BS from the White House. There’s 8.5% inflation and basically everything anyone ever buys went up in price. This is just cruel gaslighting from the Biden admin.”
Ridiculous BS from the White House.
There’s 8.5% inflation and basically everything anyone ever buys went up in price.
This is just cruel gaslighting from the Biden admin. https://t.co/zbwGOE04XD pic.twitter.com/pejS2fAdsp
— Ted Cruz (@tedcruz) August 10, 2022
“It’s a bogus math trick,” tweeted Jeffrey Tucker, president of the Brownstone Institute think tank. “This is the overall one-month index change. Overall that means that the big drop in fuel oil and gas (following previous massive monthly increases) swamped the huge increases everywhere else.”
“Using the same tactic,” he added, “you could also observe a one-month 19.2% increase in electricity! But of course we would not do that because that’s dumb. The actual increase is 15.2% which we get from calculating year over year.”
Using the same tactic, you could also observe a one-month 19.2% increase in electricity! But of course we would not do that because that's dumb. The actual increase is 15.2% which we get from calculating year over year, just as the DoL does! grrrrr. Here's the breakdown. pic.twitter.com/Lvmes1zEVw
— Jeffrey A Tucker (@jeffreyatucker) August 10, 2022