Pelosi finally admits that Biden and Democrats made inflation skyrocket when speaking with reporters today. But she tried to spin it as a good thing, claiming it was the result of unemployment going down because of the private sector:
“I don’t think any president would say that he himself made that happen. And of course, the public policy that we engaged in made it happen.
But the private sector made it happen too. A million jobs, which means that unemployment went down, practically cut in half, and when that happens inflation increases. I’ve told you before when I was a new member of Congress and the chairman of the Fed said unemployment is dangerously low, it’s going to increase inflation. It’s the way it is.”
Inflation might increase when unemployment is at really low levels but not like this. During the Trump years, when unemployment fell to only 3.5%, inflation did rise a little to about 2%. But we are looking at 8% right now with gas prices through the roof around the country. I don’t think people are going to be stupid enough to buy what Pelosi is trying to sell them here.