Four Pinocchios for Biden's Repeated Inflation Lie

Three times now, Biden has suggested that inflation was 9 percent — “skyrocketing” — when he took office. But it was 1.4 percent in January 2021. According to the White House, Biden is arguing that the conditions for the 9 percent inflation reached in June 2022 were already in place when he became president 17 months earlier.

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With proper framing, Biden could reasonably make that case, though economists may differ on whether Biden’s policies added fuel to the inflation fire. The Russia-Ukraine war certainly did.

But this is not what Biden said. While his other comments on inflation that we examined were imprecisely worded or slightly misleading, the fact that the president has gotten this wrong three times suggests this is more than slip of the tongue. He earns Four Pinocchios.

Ed Morrissey

You can read all of Kessler's essay, which basically expands on the middle paragraph of the excerpt ad nauseam. All of that is irrelevant to the point, however. Biden is flat-out lying about the inflation rate when he took office, and he keeps repeating the lie when asked. It's not up for debate; we have hard figures for inflation, and it was 1.4% annualized when Biden took office. 

Frankly, most of the spin on whether the structural issues driving inflation were out of Biden's hands are nonsense, too. The issue was a supply chain that was still failing and which Biden and Pete Buttigieg did nothing about, and the massive stimulus in March 2021 Biden pushed against the warnings about potential hyperinflation from Larry Summers, among others. 

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