"President Biden's economy is 'ultra'-unaffordable,'" McCarthy said in a statement to DailyMail.com.
“Yesterday the President claimed he has made ‘extraordinary progress’ on inflation – today’s CPI numbers once again prove his only success has been forcing Americans to pay more,” the House Republican leader added.
“For the past 16 months of one-party Democratic rule in Washington, life in America has become much more expensive,” he said. “And the President’s only response has been to find scapegoats to blame for his bad policies.”
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President Joe Biden ripped “ultra MAGA” Republicans on Tuesday as he defended his plan to “tackle" inflation the same day that gas prices hit a record $4.37 per gallon.
“I know you gotta be frustrated. I can taste it,” Biden said, speaking to the country from the White House as he claimed that his actions on energy and the economy had alleviated price hikes – even as his plans to tax the wealthy and big corporations remain stalled in the Senate.
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“I think our policies have helped, not hurt,” the President insisted when asked about a leading Republican critic who accuses him of contributing to the problem.
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“I never expected the ultra-MAGA Republicans who seem to control the Republican Party now to have been able to control the Republican Party,” Biden said, stressing this faction of the party that is turning out to be a liability in the 2022 midterm elections.
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Inflation in the U.S. hit 8.3 percent in April, dropping short of the four-decade high it reached in March and breaking the streak of seven consecutive monthly increases in the annual inflation rate.
The latest inflation report marks a mixed bag of news for consumers, indicating that grocery prices are increasing at their quickest annual rate in 42 years and flashing other signals that inflation is becoming more entrenched.
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Still, Biden praised the dip in the annual “headline" inflation number in a Wednesday statement, which seems to be decreasing mostly because prices began soaring a year ago, making the basis for comparison higher.
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“While it is heartening to see that annual inflation moderated in April, the fact remains that inflation is unacceptably high,’ said Biden. "As I said yesterday, inflation is a challenge for families across the country and bringing it down is my top economic priority.”
On Wednesday, the Labor Department’s report said that the consumer price index increased 0.3 percent in April from the month before, for an 8.3 percent gain from a year ago, compared to March’s 8.5 percent increase.