Democrat President Joe Biden snapped at a reporter after being asked about the inflation crisis, calling the reporter a “a stupid son of a b-tch.”
“Do you think inflation is a political liability for midterms?” Fox News reporter Peter Doocy asked.
“It’s a great asset, more inflation,” Biden responded. “What a stupid son of a b-tch.”
According to a CBS News/YouGov. poll, from mid-January, 62% of respondents disapprove of Biden’s handling of the economy and 70% disagree with his handling of the inflation crisis.
Since President Biden took office, inflation has hit its highest rate in 40 years. According to Bureau of Labor Statistics, inflation rose 7% in December 2021 from the previous year – the fastest increase since June 1982.
As a result of the inflation crisis, American wages have decreased since Biden took office.
According to the Bureau of Labor, “Real average hourly earnings decreased 2.4 percent, seasonally adjusted, from December 2020 to December 2021. The change in real average hourly earnings combined with no change in the average workweek resulted in a 2.3-percent decrease in real average weekly earnings over this period.”
Larry Summers, who served as Treasury Secretary under former President Bill Clinton and director of the National Economic Council under former President Barack Obama, has warned that the United States is heading toward “higher entrenched inflation.”
“I think the data flow is saying what I’ve thought for quite some time that, yes, there are transitory elements in inflation, and very likely they will recede, but we are basically moving towards higher entrenched inflation,” Summers said. “It’s there in expectations, it’s there in wages, it’s there in labor shortages, it’s there in the pervasive pattern across many different prices.”
