Democrat President Joe Biden has claimed that Americans are “being played for suckers” by the food industry and blames high prices on grocery stores “ripping people off.”
According to the president, his “Bidenomics” policies have been successful at bringing “prices down.”
However, Biden claims that “for all we’ve done,” the food industry has sent prices skyrocketing through “price gouging” and “junk fees.”
Biden continued to play the inflation blame game during a speech at South Carolina’s First in the Nation Dinner in Columbia.
“Inflation is coming down,” Biden told the crowd of his allies.
“It’s now lower in America than any other major economy in the world.
“The cost of eggs, milk, chicken, gas, and so many other essential items have come down.”
“But for all we’ve done to bring prices down, there are still too many corporations in America ripping people off: Price gouging, junk fees, greedflation, shrinkflation,” the president continued.
Biden said that Americans are “tired” of being “played for suckers” by grocery stores across the country.
“Well, it’s going to stop,” Biden said to resounding applause.
“Americans, we’re tired of being played for suckers.
“And that’s why we’re going to keep these guys — keep on them and get the prices down.”
The president’s comments come as inflation still weighs heavy on many Americans as they head to the grocery store.
A recent Axios Vibes survey found that 59% of respondents felt “angry, anxious or resigned” while shopping for groceries.
“Anger” was cited as the most common emotion.
Seventy-two percent of respondents also said that groceries are where they feel the most effects of inflation.
Though inflation has largely fallen from record highs in 2022, prices are still significantly higher than they were before Biden entered the White House.
Based on data from the Bureau of Labor Statistics, Americans must spend approximately $125.51 on groceries that would have previously cost $100 in December 2019.
On Wednesday, the Federal Reserve held interest rates steady for the fourth straight time.
The Fed left interest rates unchanged at a range of 5.25% to 5.5%, the highest level in 22 years.
“In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks,” a statement from the Federal Open Market Committee said.
“The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent.”
Since the start of 2021, food prices have gone up 33.7%, shelter costs went up 18.7% and energy prices increased by 32.8%.
Moody’s Analytics reported that Americans spent $211 more a month compared to the same time last year.
Overall, Americans are now paying on average $1,020 more each month compared with the same time two years ago.
Biden has frequently touted “Bidenomics” and lauded December numbers as a sign of economic improvement.
No comments:
Post a Comment