During an interview on Wednesday evening that went widely unseen, Treasury Secretary Janet Yellen blamed American citizens for President Joe Biden’s record-high inflation.
The comments were made by Yellen during a visit to “comedian” Stephen Colbert’s late show.
“So we had a rapid recovery from the pandemic,” she said, falsely claiming Biden’s policies brought unemployment down from 7% to 3.7%. She ignored the fact that Biden inherited an economy quickly recovering from COVID lockdowns.
“They were in their homes for a year or more, they wanted to buy grills and office furniture, they were working from home, they suddenly started splurging on goods, buying technology,” Yellen said.
“They were in their homes for a year or more, they wanted to buy grills and office furniture, they were working from home, they suddenly started splurging on goods, buying technology,” she bizarrely claimed, which according to her, led to supply chain “bottlenecks.”
WATCH the clip below:
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Don't blame the Biden Admin printing trillions of dollars: @SecYellen tells @StephenAtHome the real reason inflation is out of control is because Americans are "splurging" on goods; "and, remember, Russia has conducted a brutal war against Ukraine" pic.twitter.com/d0xbhA7sbH
— Tom Elliott (@tomselliott) December 1, 2022
Inflation is not due to Americans “splurging” on goods but due to Biden’s reckless spending as president.
Fox News reported:
There was no mention during the remarks about multitrillion-dollar spending bills that have been passed and signed during Biden’s administration. She also isn’t the only White House official who’s blamed inflation on Americans spending recklessly or who has dismissed economic concerns.
White House chief of staff Ron Klain was mocked for suggesting rising costs and supply chain issues were a “high class” problem last year.
Energy Secretary Jennifer Granholm was also criticized for laughing at rising gas prices and offering Americans tax credits for installing solar panels on their homes.
Liberal journalists like MSNBC’s Stephanie Ruhle have also argued consumers could afford to spend more money on groceries and utilities.
In October, the Consumer Price Index rose 0.4% from September.
Despite prices still being near the 40-year high, Biden told a reporter last month that the economy was “strong as hell.”
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