Vittert: Looking back on Biden’s wrong inflation claim

On Balance with Leland Vittert

(NewsNation) — President Joe Biden was right a year ago when he calmed American’s fears over rising prices.

“Some folks have raised worries that this could be a sign of persistent inflation,” Biden said one year ago. “But that’s not our view. Our experts believe and the data shows that most of the price increases we’ve seen are were expected and expected to be temporary.”

Exactly, the higher prices a year ago were temporary. The problem is, they’re higher now. A lot higher. Prices that seemed high a year ago now look like the good old days.

Take gas, for example. A year ago, it was $3.17 per gallon. Today, it’s $4.47 per gallon. That’s down about 50 cents from the high this year and the White House claims victory.

‘We’ve now seen gas prices fall for 34 straight days, they’re down about 50 cents,” Brian Deese, the White House economic development council director, told CNN. “That’s positive. What it means is that for a typical household, you’re probably generating savings about $50 a month.”

Those savings are going to be eaten up by the price of everything else.

Take, for example, your Thanksgiving turkey you are buying in November. That turkey, because of rising prices on diesel, it costs more to truck the turkey. The feed to help him grow, that’s cost more over the past few months and continues to cost more, going up until November. Labor to take care of the turkey and to process it? That’s higher, too.

The list goes on. All those prices are higher. It started with gas prices. Thus, get ready, for Thanksgiving where prices will be higher still.

Gas is the beginning, not the end, of rising prices.

It’s why the White House will defy its progressive base tomorrow. Tomorrow, the president will announce major climate initiatives by executive order. The only way he can do this is by executive order because everything else he has tried with Congress has failed. So, they can’t be major because according to the Supreme Court, you can no longer to major things by executive order.

What’s curious is why he is doing anything at all. Who is he doing it for?

Polling shows 35% of voters say inflation or the economy is their No. 1 issue. Just 1% talk about climate … you don’t win elections appealing to the 1%, it’s pretty basic.

So what does the White House say about this? There are progressives who want bold action from this White House.

“Taking climate action is critical, it’s important. This climate emergency is not going to happen tomorrow, but we still have it on the table, and I don’t have a date circled in the calendar,” White House spokesperson Karine Jean-Pierre said.

I am going to go out on a limb here. This isn’t a prediction, but just a date to watch if she can’t circle one on the calendar … sometime after Nov. 3. Just keep that in mind when we’re considering when a climate emergency might come.

Why? Because a climate emergency doesn’t work for the 99% that don’t think climate is the most important thing.

Why? Because a climate emergency could mean President Biden putting in fracking bans or stopping drilling on government oil leases.

We’ve seen what’s happened to his poll numbers.

One year after declaring rising prices temporary, he’s in a pickle.

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