Joe Biden has left the country in a mess in so many ways, but perhaps one of the things that most affects Americans is Bidenflation, which hits Americans right in the wallets, with people having to pay more for everything, from gas to groceries. People can no longer afford to buy homes with the high interest rates that the Fed has put into place. The interest rates were bumped up to try to bring inflation down, which was driven up in part by Biden's overspending.
However, the Biden team doesn't show any signs of understanding the economy yet.
Treasury Secretary Janet Yellen was interviewed by CNBC, and she said some astonishing things. Astonishing even for someone in the Biden administration, and that's saying something since there are so many who seem not to understand the economy, chief among them Joe Biden.
JANET YELLEN: "I don’t see any signs that the economy is at risk of a downturn. And this is the best of all worlds." pic.twitter.com/BphzNjGJvF— Daily Caller (@DailyCaller) September 18, 2023
Yellen said, "I don’t see any signs that the economy is at risk of a downturn. And this is the best of all worlds." She claimed that inflation was coming down.
Yellen even said that she was "pleased by what I see in the economy.”
Biden Treasury Secretary Janet Yellen says “I'm pleased by what I see in the economy.”— RNC Research (@RNCResearch) September 18, 2023
Per a recent CNN poll, 76 percent say Biden’s policies have either worsened economic conditions (58%) or made no difference (18%). pic.twitter.com/jgBek5rt1t
But as that clip notes, the American people quite rightly do not agree with Yellen, with 76 percent of Americans saying Biden has made the economy worse. It's one of the main reasons that Biden continues to sink in the polls, along with concerns about whether he is coherent enough and/or too old.
Yellen tried to contend that Biden was concerned about the gas prices.
Biden Treasury Secretary Janet Yellen insists “[Joe Biden] wants to make sure that gas prices remain affordable for Americans.”— RNC Research (@RNCResearch) September 18, 2023
When Biden took office, a gallon of gas was $2.39. Today, a gallon is $3.88 and the price of gas has been above $3 per gallon for over 850 days. pic.twitter.com/SaP5U2WaWS
If he cared, he wouldn't have attacked the oil and gas industry from his first day in office. Yellen acts like Biden brought gas prices down. But he's the one who helped drive them up after he took office.
Sen. Ted Cruz (R-TX) was having none of this gas-lighting bonanza.
If Joe Biden were serious about reducing gas prices, he’d reopen federal lands for energy development. https://t.co/UiqOwOl32h— Ted Cruz (@tedcruz) September 18, 2023
Cruz is right on target, and that's the bottom line. What they say and what they do are two different things. They don't want to change their policies that drive inflation and gas prices up. Inflation is still problematic even as she tries to downplay it now.
But Yellen has shown she's been wrong on virtually everything, including about inflation, which she denied for such a long time.