President Biden Refuses to Take Blame for Inflation, Celebrates Job Growth and Urges Congress to Stay the Course
Today, President Joe Biden spoke to the press, refusing to take questions not related to the economy and claiming he takes no blame for inflation. He referenced lost jobs, lack of manufacturing, and “real economic difficulty” as the basis for the nation’s state that he inherited through his presidency. Figures reported by the Bureau of Labor Statistics on Friday morning showed that the economy gained 517,000 jobs in January. This far outpaced the projected 185,000 jobs, with unemployment predicted to rise by a tenth of a percentage point rather than falling to 3.4%.
When President Biden took office in January 2021, the inflation rate was 1.4 percent. In December, the figure was 6.5%, a decrease from the high of 9% seen in June 2022. “We’ve created 12 million jobs since I took office,” Biden said. “That’s the strongest two years of job growth in history by a long shot.”
The unemployment rate has not been this low since the post-World War II boom of the 1950s, when it was lower than the current 3.4%. “As inflation is coming down, take-home pay for workers is going up,” Biden said. “Real wages are up and wages for lower-income and middle-income workers have gone up even more.”
The Federal Reserve has raised its key rate eight times since March to try to contain inflation. When asked if he takes any blame for inflation, Biden answered: “No. Because it was already there when I got here.”
The president is set to deliver his State of the Union address before Congress next week, where he will celebrate the job report and urge members of Congress to stay the course. “Today, I´m happy to report that the state of the union and the state of the economy is strong,” Joe Biden said at the beginning of prepared remarks from the White House.
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1. “President Joe Biden Takes No Blame for Inflation” Watcher Guru, 3 Feb. 2023, https://watcher.guru/news/president-joe-biden-takes-no-blame-for-inflation
2. “WATCH LIVE: Biden to tout economic record at water infrastructure event” Washington Examiner, 3 Feb. 2023, https://www.washingtonexaminer.com/news/white-house/watch-live-biden-tout-economic-record-water-infrastructure-event
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