Biden Says US Economy Is ‘Strong as Hell’ — White House Claims the President ‘Has Done the Work’ to Fix Inflation – Economics Bitcoin News

U.S. President Joe Biden has been criticized for stating that the U.S. economy is “strong as hell” as inflation rises to a 40-year high. Meanwhile, the White House claims that Biden understands and “has done the work” to fix the inflation issue.

Joe Biden Believes the U.S. Economy Is ‘Strong as Hell’

President Joe Biden was criticized on social media Monday for stating over the weekend that the U.S. economy is “strong as hell.”

Responding to a reporter’s question Saturday about whether he had any worry about the strength of the U.S. dollar amid rising inflation, Biden replied while eating ice cream at a Baskin-Robbins in Portland, Oregon:

I’m not concerned about the strength of the dollar. I’m concerned about the rest of the world. The economy of the United States is as strong as it gets.

“Inflation is worldwide. It’s worse off than it is in the United States,” he continued. “So the problem is the lack of economic growth and sound policy in other countries, not so much ours.”

Twitter was filled with people who disagreed with Biden and reminded him that Americans are in great distress. Some people tweeted, “reality says otherwise,” pointing out that the S&P 500 is down more than 25% so far this year.

Congressman Lance Gooden (R-TX) tweeted that in reality “65% of Americans say the economy is getting worse.” Ronna McDaniel, chair of the Republican National Committee, referenced a recent CNN poll stating that 78% of Americans say the economy is “poor.” A U.S. House candidate from Texas, Wesley Hunt, tweeted a list of items that have gone up in price, including fuel, airline fares, eggs, gas, and food.

Commenting on Biden’s remark that the U.S. economy is “strong as hell,” former Chrysler CEO Bob Nardelli opined: “It’s totally not valid, it’s not correct, it’s a misstatement … and it is luring our people into complacency … We are suffering out there … We gotta start seeing the world the way it is.”

White House Claims Biden ‘Has Done the Work’ to Fix Inflation Issue

White House press secretary Karine Jean-Pierre reportedly stated during Monday’s press briefing at the White House that President Biden has “done the work” to fix the inflation issue. Responding to a reporter’s question, she said:

The president understands … that inflation is an issue, high costs is an issue for the American people, and so he’s been very clear about making that his number one economic priority. The president has made the effort.

Biden, who claimed that inflation has not risen for several months in September was criticised. He was also criticized in August for his claim that the U.S. had experienced 0% inflation. Biden’s administration was accused in June of spreading propaganda and refining the term recession.

Are you in agreement with President Joe Biden on inflation and the current state of America’s economy? Leave your comments below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.