Last summer, President Biden promised us that inflation would be transitory and things would be back to normal very soon as far as the economy is concerned:
“As our economy comes roaring back, we’ve seen some price increases,” Biden said, while rejecting concerns the recent increases could be a sign of persistent inflation.
He said his administration was doing all it could to address supply chain bottlenecks that had pushed up the price of cars, and noted that lumber prices were now easing after spiking higher early in the recovery.
“I want to be clear: my administration understands that were we ever to experience unchecked inflation in the long term, that would pose a real challenge for our economy,” he said. “While we’re confident that isn’t what we’re seeing today, we’re going to remain vigilant about any response that is needed.”
Biden also said “no serious economist” was suggesting the inflation would last long term:
INFLATION: President Biden says, “There’s nobody suggesting there’s unchecked inflation on the way, no serious economist.” pic.twitter.com/VofmVi4s8e
— Forbes (@Forbes) July 19, 2021
We only provided that background as reminders that Biden and his administration are wrong (or just flat-out lying) about everything.
Today while at the beach in Delaware, Biden was asked about the odds of a recession:
Biden just now, talking to press on the Rehoboth beach as the waves crash behind him:
“I talked to @LHSummers this morning ….”
— Jonathan Martin (@jmartNYT) June 20, 2022
Biden said that a recession is “not inevitable”:
Biden says he was talking to Larry Summers this morning. “There’s nothing inevitable about a recession,” he says on the beach in Rehoboth.
— Kevin Liptak (@Kevinliptakcnn) June 20, 2022
If Biden did talk to Larry Summers this morning, he might have been told something else (or maybe Summers didn’t tell him):
Lol. Summers said the opposite yesterday
— Nick (@Nickster0188) June 20, 2022
— Cathy Elliott Jones (@celliottjones) June 20, 2022
Gaslighting is all this administration has left.
No more talks with “serious economists”?
— Soxaholic (@MikeBrennan330) June 20, 2022
Are there any left?