Perhaps Treasury Secretary Janet Yellen has been living inside a giant plastic bubble and has had no contact with the outside world. How else would you explain her complete tone-deafness when speaking to the American people and the struggles they’ve endured under Bidenomics?
Speaking with co-host Jonathan Karl on ABC’s “This Week” on Sunday, Yellen said sure, inflation was a little bit of an inconvenience, but you’re all better off, don’t ya know it. And, of course, she blames that inflation on the pandemic—not on the Biden administration’s out-of-control spending on massive bills like the ridiculously named “Inflation Reduction Act” or the $1 trillion infrastructure bill.
How it’s going:
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Karl asked her, if the economy is so rosy, why are so many turning to Donald Trump and away from President Joe Biden?
KARL [shamelessly shilling for the administration]: And — and on the economic situation here at home, you’ve cited a lot of the positive macroeconomic indicators. The rate of inflation is coming down. Unemployment is low. The economy’s growing. But why is it then that voters seem so unsatisfied?
And in fact, in poll after poll, voters say they trust Donald Trump with the economy more than Joe Biden. What — what’s going on?
YELLEN: Well, I think the pandemic was a profoundly difficult time. But in the years leading up to the pandemic, Americans were really, many of them, working-class families just struggling with things like healthcare costs, the cost of energy, education costs, childcare costs.
And so they — they really feel the cost of living. Housing is particularly unaffordable in so many parts of the country. And I think the inflation that we experienced after the pandemic just compounded this feeling for them that life isn’t affordable. So, it is the Biden administration’s top priority to address these costs where we possibly can and make progress in healthcare… [Emphasis mine.]
It’s not a “feeling” that life has become unaffordable in America for the average person, Ms. Yellen. It’s a reality.
“It is true that, over the last roughly three years, there’s been a significant increase in the price level. It’s now rising at a very slow, close to normal rate…I would point out, of course, that wages have also gone up,” Treasury Sec. Yellen says. https://t.co/6V1SSjaHXl pic.twitter.com/S8loYRcFr1
— This Week (@ThisWeekABC) June 16, 2024
Even Karl had to point out that despite the administration’s continuing effort to tell that we’re doing great—we’re just too stupid to notice—the price of eggs is up a staggering 84 percent under Ole Joe.
KARL: Yeah, and just to be clear, I mean, the rate of inflation is coming down, but overall inflation is up 19 percent since President Biden took office. On some everyday goods, it’s much higher. The price of eggs is up 84 percent since President Biden took office; ground beef, up 30 percent; bread, up 27 percent.
I mean, by and large, inflation rate may go down, but those prices aren’t returning to where they were. I mean, those prices are going to remain high?
YELLEN: Well, it is true that, over the last roughly three years, there’s been a significant increase in the price level. It’s now rising at a very slow, close to normal rate. But, yes, Americans see that, and mainly it comes on top of concern about costs that were making life very difficult. So, it’s something the Biden administration absolutely wants to address.
I would point out, of course, that wages have also gone up during this time, and government studies show that, for all — for households at all points in the income distribution…
So the typical American is somewhat better off. [Emphasis mine.]
She can keep gaslighting us till the cows come home, but polling consistently shows that Americans are not feeling better off. Hopefully the Biden administration will just keep convincing themselves of their alternate reality until they’re shown the door.
Don’t try to tell my wife we’re doing better than we were four years ago:
This article from my husband @Bob_Hoge_CA led me to the Biden Mart and now he really understands our grocery bill explosion! I’m not buying secret lobster meals—just getting the same stuff! 🤯
Apples, chicken, cheese, potatoes, ground beef, milk all 📈 https://t.co/7xwp1N1hpd pic.twitter.com/p9czgkzsUT
— Roxanne Hoge (@RoxanneHoge) April 2, 2024
