Biden Says Stimulus Checks His Administration Gave Out To Blame For Inflation

Biden Says Stimulus Checks His Administration Gave Out To Blame For Inflation

By Shelby Talcott

President Joe Biden said Wednesday that part of the reason for high inflation is that Americans “have more money” because of his administration’s COVID-19 stimulus checks. He also blamed the issue on the ongoing supply chain crisis and a subsequent demand for goods.

The Labor Department announced Wednesday morning that the Consumer Price Index (CPI) rose 0.9% for the month of October and 6.2% throughout the year, making it the highest rate in three decades. The announcement followed the passage of Biden’s $1.2 trillion bipartisan infrastructure package and also comes amid the administration’s push for his $1.75 trillion social spending package to pass Congress.

Critics have blamed the government for inflation, arguing that printing more money to help with the COVID-19 pandemic will have long-term consequences. More moderate Democrats, like West Virginia Sen. Joe Manchin,  voiced concerns over the administration’s push to spend money. Biden acknowledged this argument  Wednesday, highlighting that “the first major piece of legislation” he passed gave Americans across the country checks for $1,400. (RELATED: Over 60% Of Americans Say Biden’s Policies Are To Blame For Accelerating Inflation)

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“And the irony is: People have more money now because of the first major piece of legislation I passed,” Biden said after detailing how global supply chains have helped lower costs for Americans but made the country “more reliant on what happens” around the world.

“You all got checks for $1,400. You got checks for a whole range of things. If you’re a mom and you have kids under the age of 7, you’re getting 300 bucks a month, and if it’s over – over 7 to 17, you’re getting $360 [sic] a month – like wealthy people used to when they’d get back tax returns. It changes people’s lives.”

“But what happens if there’s nothing to buy and you got more money?  You compete for getting it there.  It creates a real problem,” the president added.

Biden continued on to say that Americans are not only “facing new disruptions to our supplies” but also “experiencing higher demand for goods because wages are up” and “people have money in the bank.”

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