President Biden admitted on Wednesday that Americans will continue to suffer the effects of rising food and gas prices for some time, as consumer prices at the pump reached a new high.
“The idea that we’ll be able to turn a switch and bring down the cost of gasoline is not likely in the near term, nor is it in the case of food,” Trump told reporters during a White House event with infant formula producers.
According to AAA, the average national price of a gallon of petrol was $4.67 when Biden spoke, the most on record.
Biden’s beautiful moment occurred only one day after Treasury Secretary Janet Yellen admitted that she was mistaken about inflation being a temporary concern, despite the yearly rate reaching 41-year highs.
Republicans demanded that Yellen resign or be fired after she admitted that the government was caught off guard by mounting costs.
Despite his lack of a solution to the inflation problem, Biden insisted on Wednesday that there’s more than one way to change, to maintain the standard of living for people in the sense that the overall out-of-pocket money needed to ensure that they can get through all of their needs on a monthly basis. You’re able to compensate.
The projects mentioned by Biden were part of his $2 trillion Build Back Better proposal, which was knocked down by his party’s centrists late last year amid concerns that it would exacerbate the inflation issue.
“We can’t take immediate action, that I’m aware of yet, to figure out how we bring down the price of gasoline back to $3 a gallon, and we can’t do that immediately with regard to food prices either. But we can compensate by providing for other necessary costs for families, by bringing those down. That reduces the inflation for that family,” the president stated again.
