White House's Laughable Spin On Inflation Backfires, Becomes Fodder For Mockery

The Biden administration tweeted, "Great news: Today's inflation report shows annual inflation is now at the lowest level since March 2021, and less than half of what it was last June," claiming that this gave families "real breathing room."

However, critics were quick to point out that the graph of the consumer price index clearly showed inflation skyrocketing to historic heights once President Joe Biden arrived at the Oval Office. Fox News reporter Bill Melugin responded, "Not sure why the White House would tweet this chart? It shows inflation shooting up as soon as they took office…then they take credit for dropping it down from 40 year highs. Strange flex."

June 14, 2023

Others pointed out that inflation still far exceeded wage gains made during Biden's presidency. While the President released a statement claiming responsibility for lowering the rate of increase of inflation, he also admitted that there was more work to do. The Federal Reserve has raised interest rates to tamp down U.S. consumption and drive down inflation. Still, the sudden increase has led to a crisis in banking and plummeting housing affordability.

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Fed officials have said they would ease up on interest increases if inflation slowed. Financial researcher Kathy Jones explained, "By raising rates, the Fed is trying to make you slow down your spending. That happens when the cost of money goes up for a car loan or mortgage or something else you want to spend money on. At some point, you're going to pull back."

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Inflation slowing down does not mean prices are going down; it means prices are not continuing to rise as fast. As reported by Ryan Saavedra, "Inflation is still twice as high as it should be." The White House's attempt to spin the inflation report as good news was criticized and ridiculed on social media.

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While the administration claimed that inflation was at its lowest level since March 2021, the graph of the consumer price index showed inflation increasing from January 2021 until May 2022, when the percentage change began to fall while remaining positive. Critics took the White House to task for posting a graph showing inflation skyrocketing to historic heights once President Joe Biden arrived at the Oval Office.