President Biden has an excuse for the increasing gas costs and rising inflation that have characterized his presidency: Putin is to blame. According to Biden, this isn’t a joke.
“And now, the second big reason for inflation is Vladimir Putin and gas prices, not a joke. We’ve seen the price of gas go up over a dollar just since he put his troops on the border, on the border of Ukraine,” he added.
They went up a dollar and five cents, according to Biden. Putin began gathering soldiers around the border and then crossed it, which is a big part of the cause. The rest of the world took note.
Prices rose as a result of the market’s anticipation, and then Putin invaded. Make no mistake: Vladimir Putin is primarily to blame for the present rise in gas prices. The American Rescue Plan has nothing to do with it.
US Treasury Secretary Janet Yellen:
— Breaking911 (@Breaking911) March 13, 2022
“We’re likely to see another year in which 12-month inflation numbers remain very uncomfortably high.” pic.twitter.com/PbDCheGpTe
The Rescue Plan added only 0.3 percent to inflation, according to a Wall Street estimation of the San Francisco Federal Reserve. He went on to say that the figure was 0.3 percent. American Rescue Plan did not cause the problem, Biden insisted. He assured that his administration is striving to resolve it.
In January, inflation reached a 39-year high, well before anyone outside of intelligence circles and well-sourced journalists predicted that Russia would invade Ukraine.
While inflation has emerged as the most pressing economic concern for 2022, the Federal Reserve no longer considers inflation to be transient, as White House Press Secretary Jen Psaki originally said. U.S. Janet Yellen, the Secretary of the Treasury, disproved the claim.
The Biden administration is teaching Americans a valuable lesson: politicians who take your money and throw it away may lie, but your wallets do not.
