According to the U.S. Bureau of Labor Statistics, inflation has increased from 8.6% in May to a stunning 9.1% in June. As per usual, Biden has attempted to deflect blame for this horrible economic situation through lies and deception. On Tuesday, President Biden claimed that the U.S. has the “lowest [inflation] rate of almost every major nation in the world.” However, this is far from the truth.
Contrary Biden thinks, Americans are not stupid and won’t fall for his lies. It is not hard to find comparative data on inflation rates around the world, and it is evident that the United States is in a bad position.
Canada, with its tyrannically inclined Prime Minister, Justin Trudeau, is only facing a 7.7% inflation rate. Mexico, which has long teetered on the verge of becoming a failing state, is seeing a 7.9% inflation rate. The socialist spending policies of Canada and the political corruption of Mexico have not resulted in the same level of economic harm that Joe Biden inflicted on Americans since entering office in 2020.
The United States does not fare well when compared to European countries either. The euro, which is used by 19 European nations, has an inflation rate of 8.1%. Some European nations that are isolated from the European Union are doing much better. For example, Switzerland has an inflation rate of 3.4%.
Under Biden’s regime, living in the United States has become dramatically more expensive. Prices for meat and poultry are up 10.4%, gasoline is up 59.9%, fruits and vegetables are up 8.1%, and the list goes on.
Biden claims that these price increases are unavoidable as they are caused by the pandemic, global supply chain issues, and the war in Ukraine. Since these are factors that affect all nations, it makes sense that Biden wishes to convince Americans that we are better off than the rest of the world. This is unfortunately far from the truth.
When looking to the East, both Japan and China are experiencing a moderate inflation rate of just 2.5%. Some Middle Eastern countries have seen little to no increase in inflation, such as Saudi Arabia with a 2.2% inflation rate.
If Biden were correct, and the rest of the developed world was actually worse off than the United States, our high inflation rate would be more acceptable. But this is not the case. Nations like Japan, China, Switzerland, and Saudi Arabia have successfully isolated themselves from the dangers of “global” economic pressures. So, why can the United States not similarly isolate its economy?
The answer is simple: we possess incompetent leadership that is directly undermining American interests. Joe Biden kept his presidential campaign promise, that he would destroy domestic oil production, and we are suffering for it:
“Number one, no more subsidies for fossil fuel industry. No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period, ends, number one.” -Joe Biden March, 2020
One of the largest factors in the U.S. inflation rate increase is the surge in the price of gas. With the price of gas hitting record high levels, it costs much more to operate almost any business and worsens domestic supply chain issues because transporting goods becomes less profitable. Without oil production at home, the United States becomes reliant on foreign fuel and subject to global market factors, such as the war in Ukraine.
By printing trillions of dollars to fulfill the Build Back Better agenda and handicapping domestic production, Biden has steered the United States directly into economic turbulence.
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