Biden Falsely Claims Inflation Was 9% When He Took Office

President Joe Biden has repeatedly made false claims that the inflation rate was 9% when he took office in January 2021, despite actual data showing it was 1.4% at the time, sparking criticism and concerns about public trust and perception of his leadership on economic issues. This description focuses on the primary topic of President Biden's false claims about inflation rates, the main entity being President Biden, and the context of his presidency and economic leadership. It also highlights the significant action of making false claims and the consequences of eroding public trust. The objective details provided will help an AI generate an accurate visual representation of the article's content, such as an image of President Biden speaking at a podium with a graph or chart showing the actual inflation rates in the background.

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Nitish Verma
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Biden Falsely Claims Inflation Was 9% When He Took Office

Biden Falsely Claims Inflation Was 9% When He Took Office

President Joe Biden has repeatedly made false claims about the inflation rate when he took office in January 2021. In recent interviews, Biden asserted that inflation was at 9% when he became president, when in fact it was 1.4% at the time.

Why this matters: The accuracy of a president's statements on key economic issues like inflation can have a significant impact on public trust and perception of their leadership. Misleading claims can also influence voters' decisions and undermine the credibility of the administration.

In an interview with Yahoo Finance on Tuesday, Biden stated, "I think inflation has gone slightly up. It was at 9% when I came in, and it's now down around 3%." He made a similar claim last week in a CNN interview, saying, "No president's had the run we've had in terms of creating jobs and bringing down inflation. It was 9% percent when I came to office, 9%."

However, these claims are not supported by the facts. The inflation rate peaked at 9.1% in June 2022, more than 16 months after Biden took office. As of March 2024, the most recent data available, inflation stands at 3.5%, up slightly from 3.2% the previous month but still well above the 1.4% rate when Biden was inaugurated.

The White House has attempted to defend Biden's statements. A White House official explained that Biden was trying to convey that factors contributing to inflation, such as global supply chain disruptions caused by the pandemic, were already in place when he assumed office.

Nonetheless, fact-checkers at Snopes and FactCheck.org have rated Biden's inflation claim as false. Critics, including Rep. Jim Banks (R-Ind.), have accused Biden of lying, with Banks tweeting, "All Biden does is LIE!" Washington Examiner Editor-in-Chief Hugo Gurdon suggested Biden's false claims indicate Democrats think voters are fools.

Biden's handling of the economy remains a top concern for voters heading into the 2024 presidential election. Polls show him trailing former President Donald Trump in key swing states, with only 32% of Americans saying they trust Biden on economic issues compared to 46% who trust Trump, according to an ABC News/Ipsos poll.

The latest inflation figures for April 2024 will be released on Wednesday. The persistently high inflation rate, which remains well above the Federal Reserve's 2% target, coupled with elevated interest rates, continues to strain household budgets across the country. As the 2024 campaign heats up, Biden's record on the economy and inflation is certain to remain under intense scrutiny.

Key Takeaways

  • President Joe Biden falsely claimed inflation was 9% when he took office in 2021, when it was actually 1.4%.
  • Inflation peaked at 9.1% in June 2022, 16 months after Biden took office.
  • As of March 2024, inflation stands at 3.5%, up from 3.2% the previous month.
  • Fact-checkers have rated Biden's inflation claim as false, with critics accusing him of lying.
  • Biden's handling of the economy remains a top concern for voters, with only 32% trusting him on economic issues.