On Tuesday, Joe Biden addressed supporters at the White House during a celebration of the Inflation Reduction Act. Fox News anchor Neil Cavuto broke away on air in the middle of Biden’s celebratory remarks amid “stocks tanking.”

“Alright, I do not want to be a party-crasher, but we interrupt this celebration for a hard, cold dose of reality,” Cavuto announced on live TV.

We interrupt this celebration for a hard, cold dose of reality amid stocks tanking and August’s inflation rising to 8.3% from last year.

“Stocks [are] tanking because inflation is accelerating — the very inflation that the president says ‘he’s made great progress addressing,’ heralding his Inflation Reduction Act as the boom for the economy that we didn’t see in a key number out earlier today,” Neil Cavuto said.

“In percentage terms, roughly 4% hitting the Dow is the worst we’ve seen in two years, ditto the S&P 500, and again, the NASDAQ. All hit and hit hard because inflation remains stuck, and no one can get it under control. An 8.3% annualized inflation rate in the latest month — the core rate, that is, without food and energy also soaring more than 6.3%. This is the 4th 1000th point selloff with the DOW, just this year,” he reported.

Cavuto said Joe Biden is “heralding” the Inflation Reduction Act “as some people say this is actually making this situation worse because across the board prices are going up.”

Cavuto continued, adding that Biden is “touting the prospect of eventually drug prices going down, but even if he gets that …  it would be but a fraction of the overall costs that continue to soar”, adding, “Keep this in mind, with inflation running 8%, most food and related items are running at about double, sometimes triple that. Whatever progress we’ve seen on gasoline prices has done little to affect prices almost everywhere else”.

Cavuto explained that the Dow had suffered the seventh largest single-day point loss in its history and the fourth 1,000-plus point hit the Dow has absorbed just this year.

WATCH THE SAVAGE VIDEO:

As Biden boasts about the Inflation Reduction Act, a graphic in the corner of the screen humiliates him with a brutal reality check.

Even CNN had to point out the unfortunate timing as the stock market took a total beating on Tuesday DURING Biden’s celebration:

“There is this unfortunate split screen right now with the Dow taking a total beating…it feels like it’s hard to be celebratory for some people.”

WATCH:

RNC Research posted on Twitter:

Joe Biden is taking a victory lap on inflation while the stock market tanks…because of inflation.

While Biden bragged on Tuesday as the Dow Jones Industrial Average plummeted, according to the Associated Press, it sank over 1,250 points by the end of the day.

“Inflation Reduction Act” celebration: “Unfortunately [Biden] never looked to the markets while this was all being planned because they were tumbling on a clear sort of refuting of all of that.”  – Cavuto

The stock market is presently down a thousand points after inflation hit 8.3%, much worse than expected. And Joe Biden is having a celebration at the White House to praise his administration’s response to inflation. You can’t even make this up. It’s tone deaf insanity.

The Dow continued to plunge throughout the day, according to YahooFinance, even as Biden and Congressional Democrats extolled the virtues of the so-called “Inflation Reduction Act” — which objectively does nothing to reduce inflation per the Congressional Budget Office.

 

Join The Conversation. Leave a Comment.


We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.