President Biden defended his administration by insisting inflation was down and that “pink states” had been screwing up their very own economies.
Biden sat down with MSNBC host Lawrence O’Donnell for the final interview of his administration earlier than formally leaving workplace on Monday. The 2 mentioned many matters, together with Biden’s dealing with of the economic system and the specter of inflation.
The president dismissed criticisms of how he dealt with inflation by claiming the choice was to lose jobs.
President Biden mentioned many matters surrounding his administration with MSNBC host Lawrence O’Donnell. (MSNBC screenshot)
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Rejecting warnings from economists like Larry Summers that his COVID stimulus spending would trigger extra inflation, Biden claimed in any other case “the one approach to cope with inflation is to create unemployment and one other recession.”
“However guess what? I used to be completely satisfied. Give the American individuals half a shot. They’ll step up and get the job achieved in the event you give them the chance. Look what they did. They stepped up in each main endeavor,” he mentioned. “I by no means believed we could not have a gentle touchdown. We had a gentle touchdown. Inflation is down nearly to 2%, so much happening.”
The Labor Division mentioned on Wednesday that inflation rose by 2.9% in December, up from 2.7% in November and the best fee since July 2024.
Biden went on to assert pink states “screwed up” on their very own and wanted extra funding in them than blue states.
“And look, the opposite factor, Lawrence, I received lots of criticism. Understandably. We’ve invested extra in pink states than blue states…for 2 causes. One, pink states actually screwed up by way of the way in which they dealt with their economic system and the way in which they deal with manufacturing, the way in which they deal with entry to provide chains,” Biden mentioned.
A majority of Individuals nonetheless rated the economic system as solely “honest” or “poor” in a brand new Fox Information survey. (Photographer: Ting Shen/Bloomberg by way of Getty Photographs)
Experiences have discovered that Republican-led states like Florida and Texas recovered much more rapidly than blue states after the pandemic.
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A new Fox News survey on Thursday confirmed nearly twice as many individuals assume the Biden administration has made the economic system worse quite than higher, 52% vs. 28%. Plus, almost all voters, 89%, say they’re both extraordinarily or very involved about inflation — up from 83% at first of Biden’s time period.
Inflation rose by 2.9% in December, up .2% from November, in response to the Labor Division. (istock)
70% of voters say the economic system is in unhealthy form with six out of 10 Democrats agreeing that the economic system was solely honest or in poor situation.
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Fox Information’ Dana Blanton contributed to this report.
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