Yesterday, President Biden blamed Putin and the war in Ukraine for the skyrocketing inflation rate. With a little research, it wasn’t difficult to discover the truth.
The inflation rate
- January 2021, 1.4% (Biden’s first month in office)
- January 2022, 7.5% (Biden’s first year)
- February 2022, 7.9% (The war began on February 24. No sanctions were in place)
- March 2022, 8.5%
In 14 months with Biden in office the inflation rate has more than quadrupled. Only a .6% increase since the start of the war and sanctions were put in place. Looking at the trend since January of 2021, Putin is not responsible for inflation in the US.
Biden needs to man up and accept responsibility for the runaway inflation. Like the border, his failed policies are the root cause of the current crisis in the United States.
A dose of reality.
Source: US Inflation Calculator