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Biden tries to reduce inflation, supply chain crisis

President Joe Biden speaks at the South Court Auditorium on the White House grounds, Wednesday, December 1, 2021, in Washington.  Biden is set to launch a more urgent campaign to get Americans injected with a COVID-19 booster on December 2, when he unveils his winter plans to fight the coronavirus.  (AP Photo / Evan Vucci)

President Joe Biden speaks at the South Court Auditorium on the White House grounds, Wednesday, December 1, 2021, in Washington. Biden is set to launch a more urgent campaign to get Americans injected with a COVID-19 booster on December 2, when he unveils his winter plans to fight the coronavirus. (AP Photo / Evan Vucci)

OAN . editorial office
UPDATE 8:21 AM PT – Thursday, December 2, 2021

Joe Biden has recently tried to mitigate many of the economic crises the country is facing. When say from DC on Wednesday, he affirmed that the economy is currently doing well and is on the way to recovery.

Biden made those remarks despite a looming debt ceiling crisis, an unfolding supply chain crisis and soaring inflation that Federal Reserve Chairman Jerome Powell said this week remains unanswered. conclude. He has tried to minimize the troubles going on in the supply chain while claiming his policies are responsible for alleviating bottlenecks

“If you’ve seen the news lately, you might think that the shelves in all stores are empty across the country, that parents won’t be able to buy gifts for their kids this holiday season. , but here’s the deal – for the vast majority of the country, that’s not what’s happening,” Biden said. “Because of the actions the government has taken… those shelves will be stocked.”

However, experts say there are still huge challenges facing the nation’s supply chain. On Wednesday, a major survey of the federal reserve pointed to ongoing supply chain bottlenecks that continue to drive inflation high. Businesses across the country are still expressing concern about when the supply chain is expected to fully recover.

Meanwhile, Biden also touted the release of 50 million barrels of oil from the national oil reserve, which he claimed would bring down gas prices. However, many economists point out that the oil is only worth three days and will likely have little effect on consumers.

“Last week, I announced the largest-ever release of the US Strategic Petroleum Reserve to increase oil supplies and help bring prices down,” he explained.

Biden falsely blamed US energy producers for high fuel prices, accusing oil companies of “uncompetitive behaviour”. However, US gas prices rose after Britain canceled the Keystone XL pipeline and banned drilling on federal lands earlier this year.

He then claimed other countries also had high inflation, but didn’t mention it wasn’t as high as in the US. In fact, last month’s US inflation was 6.2%, higher than 4.2% in the UK, 5.2% in Germany and 4.7%. in Canada.

Biden then took the time to introduce his trillion-dollar social spending program, repeating the false claim that it would “pay for itself.” Last month, the CBO released a report showing that Biden’s Build back better The agenda will increase the federal deficit by $367 billion over the next decade. The report also found it would cost taxpayers $1.7 trillion over the same time period.

MORE NEWS: Senators say Biden’s spending bill passed House lacking support among Democrats

https://www.oann.com/biden-attempts-to-downplay-inflation-supply-chain-crises/?utm_source=rss&utm_medium=rss&utm_campaign=biden-attempts-to-downplay-inflation-supply-chain-crises Biden tries to reduce inflation, supply chain crisis

DUSTIN JONES

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