CNN analyst Van Jones doomed Speaker Nancy Pelosi and President Joe Biden by cutting through the spin from the White House and delivering the hard truth. There are many things a politician can spin away but inflation is not one of them.
Because it hits everyone every day in multiple ways. You can’t escape it and only a fool would try to convince you otherwise. Adding to Biden’s troubles was a shocking reversal in GPD. If that is not a one time thing, Joe Biden and Nancy Pelosi will be running on stagflation in the midterms.
Jones said: “When you overpromise so much in the beginning of the year and underdeliver at the end of the year, you suddenly end up with a disappointment factor plus inflation.”
Biden issued a statement yesterday to try to downplay the bad news. He said:
“The American economy — powered by working families — continues to be resilient in the face of historic challenges.
“Last quarter, consumer spending, business investment, and residential investment increased at strong rates.
“The number of Americans on unemployment insurance remains at the lowest level since 1970.
“Later this morning, I will meet with small business owners who are creating and growing their businesses at a historic rate.
“While last quarter’s growth estimate was affected by technical factors, the United States confronts the challenges of COVID-19 around the world, Putin’s unprovoked invasion of Ukraine, and global inflation from a position of strength.
JUST NOW: @VanJones68 says the Democrats “overpromised, underdelivered so far”
“When you overpromise so much in the beginning of the year and underdeliver at the end of the year… you suddenly end up with a disappointment factor plus inflation.”pic.twitter.com/RqS6hufbBK
— John Berman (@JohnBerman) April 29, 2022
“We need to keep making progress — cutting costs for working families, making more in America, and creating good-paying jobs you can raise a middle-class family on.
“Congressional Republicans, led by Senator Scott, believe the way to fight these global challenges is by raising taxes on middle class families, including half of small business owners.
“I have a different approach.
“Congress should send to my desk a bipartisan innovation bill to bolster our supply chains and make more in America.
“And Congress needs to pass legislation to lower costs and lower the deficit, reducing families’ prescription drug and utility bills and restoring fairness to our tax code — without raising taxes on anyone making less than $400,000 per year.
“That’s how we grow our economy and strengthen the middle class,” the statement said.
