Will liberal voters really accept this?
On Friday Biden claimed that he bore no responsibility for the high inflation rates and that inflation had been there since before he took office. He then highlighted that in January almost double the expected number of jobs was added to the U.S. Economy.
In January there were 517,000 jobs added.
When a reporter asked Biden whether or not he took responsibility for inflation, Biden replied that he did not. He then proceeded to remind the reporter of the condition of the economy when Biden first took office. The inflation rate was going up, there was no manufacturing within the country and there was an overall lack of job availability. He added that the country had been in a financially bad place, which is why he won’t take the blame for inflation.
The consumer price index for January 2021 was 1.4%, however, on December 22 the percentage had gone up to 6.5 percent year over year. Despite the high inflation rates, the job market has been performing better than expected.
Experts at the Heritage Foundation in their latest report found that since Biden took office following his inauguration on Jan. 20, 2021, the average American household had lost close to $7,400 of their annual income. This marks an increase, as in September it had been $7,200.
The consumer price index for January 2021 was 1.4%, however, on December 22 the percentage had gone up to 6.5 percent year over year. Despite the high inflation rates, the job market quickly appears to be bouncing back. Federal policymakers have also agreed on seven increases in interest rates as they try to squash the high inflation rates.