Biden criticized after saying inflation hasn’t risen in months – “I’m more optimistic than I’ve been in a long time.”

U.S. President Joe Biden shared his views on inflation. “I’m more optimistic than I’ve been in a long time” he said, noting that inflation has not peaked in several months. Many people disagree with Biden, with one saying that “families are poorer than when he took office.“

U.S. President Joe Biden’s take on inflation and the U.S. economy.

U.S. President Joe Biden discussed a wide range of topics, including the U.S. economy and inflation, in an interview with 60 Minuteswhich aired on Sunday. He was asked what he could do better and faster given that the annual inflation rate is 8.3 percent. Mr. Biden replied:

First of all, let’s put this in perspective. The inflation rate, month over month, has only gone up an inch, barely.

Noting that he is not claiming that 8.3 percent inflation is good news, Biden noted, “It used to be 8.2%.“

While acknowledging that the inflation rate is the highest in 40 years, the president said, “Guess what we’re in, we’re in a position where for the last several months it hasn’t spiked… It’s been basically even. And during that time, we’ve created all these jobs.“While admitting that prices have gone up, Biden argued that “they have gone down for energy.“

When asked if the U.S. economy would get worse, President Biden replied, “No, I don’t think so. We hope we can have what they say: a soft landing.“As to whether inflation will continue to fall, the president noted:

I am telling the American people that we will get inflation under control…I am more optimistic than I have been in a long time.

“Their prescription drug prices are going to be much lower. Their health care costs are going to be much lower. Their basic costs for everyone, their energy prices are going to be lower“, he continued.

Many people took to Twitter to criticize President Biden for downplaying the problem and failing to understand the challenges facing the American people. In response to the president’s insistence that inflation has not increased, a number of people reminded him that the inflation rate was 1.4 percent when he took office.

The economist and research fellow at the Heritage Foundation Joel Griffith tweeted a list of items whose prices have increased significantly, including gasoline, food, and furniture.

Inflation this past year of 8.3% stuck near a 40-yr high.
⛽️Gas +25.6
🛋️Furniture +12.8
✈️Airfare +33.3%
🥚Eggs +39.8%
🍗Chicken +16.6%
🥛Milk +17.0%
☕️Coffee +17.6
🥪Lunchmeat 18.2%
🍞Flour +23.3%
🍊Oranges +14.4
🧈Margarine +38.3%
🍚Rice +13.0%
🥖Bread +16.2%
🍜Soup +18.2%

– Joel Griffith (@joelgriffith) September 13, 2022

Politicians also joined the conversation. Jennifer-Ruth Green, a candidate for Congress in Indiana, tweeted, “Inflation was 1.4% when Joe Biden took office and is 8.3% nineteen months later. Americans are hurting badly and instead of taking responsibility for his mistakes, the President just wants the problem to go away so he can keep his party in power after the midterms.“

Ronna McDaniel, chairwoman of the Republican National Committee, opined, “Yesterday, Biden said Americans need to put inflation in ‘perspective.’ That perspective: Real wages have fallen since the Democrats passed their $1.9 trillion ‘stimulus,’ and families are poorer than when he took office.”

Jim Bognet, a congressional candidate in Pennsylvania, wrote: “Joe Biden, Nancy Pelosi and Matt Cartwright think 8.3% inflation is acceptable. It isn’t. Americans are being crushed. The highest rate of inflation in 40 years takes a month off your annual income. We need change now“. Former Secretary of State Mike Pompeo opined, “President Biden may not think inflation is a big problem. But every American who shops knows the devastating impact of Biden’s policies.“

Jay Clayton, former chairman of the U.S. Securities and Exchange Commission (SEC), commented on CNBC that while Biden is right to focus on inflation, “people don’t pay for inflation, they pay for prices.“He described:

People are focusing on prices…Average household expenses are going up $500 a month. That hurts.