Biden Cherry-Picks Second-String Stat to Boast July Inflation Was ‘0%’

cns news ^ | Aug. 10, 2022 | Craig Bannister

[Schatze]

“Our economy had zero percent inflation in the month of July. Zero percent," President Joe Biden boasted Wednesday, citing a lesser-used Bureau of Labor Statistics (BLS) measure, rather than the more commonly used statistic, which shows inflation actually jumped 8.5%.

Pres. Biden led off a press event with the claim: "Before I begin today, I want to say a word about the news that came out relative to the economy. Actually, I just want to say a number: zero. Today, we received news our economy had zero percent inflation in the month of July. Zero percent.

“Here’s what that means: while the price of some things went up last month, the price of other things went down by the same amount. The result: zero inflation last month. But, people are still hurting. But, zero inflation last month.”

And, yes, if you’re comparing the seasonally-adjusted change from June 2022 to July 2022 for “urban consumers,” that’s true, as the BLS report released Wednesday notes

[Schatze]

If inflation was zero, then why did we need the "Inflation Reduction Act," batty Joe?

[Alter Kaker]

If inflation was zero, then why did we need the "Inflation Reduction Act," batty Joe?

It already worked! < /s>

[WKUHilltopper]

Idiot…

[Dr. Sivana]

These lies don’t work when you have less money left over after a trip to the supermarket.

[Howie66]

#FJB

[dfwgator]

Actually Biden is smart, in realizing that many Americans are idiots and will buy it.

[dfwgator]

So is he going to credit Putin for it?

[WKUHilltopper]

Only the cucks…

[Prince of Space]

If Trump would have lied like that, reporters would have interrupted his speech to say it wasn’t true. The difference in how they treat Joke & Trump just blows my mind!

[kiryandil]

Joek - The Infinity Liar.

[Fai Mao]

Xiden, the congenital pervert!

[Parley Baer]

...and the Ukraine war.

[Chgogal]

Biden’s Weaponized Banana Republic an economic illiterate one.

[econjack]

Why in the Hell isn’t ANYONE calling this lying SOB out on this lie?

[DarrellZero]

Translation: gas went from stratospheric to merely sky high. You’re welcome.

[griswold3]

Gaslight the public until after the Nov elections. Then things will be horrible and it’s all the Republicans’ fault.
People are gull a bull.

[Sarcazmo]

Americans play stupid but they aren’t. When their money don’t buy the crack it used to... there’s gonna be hell to pay.

‘Cause when upgradde start losin’ money... well... he keep that pimp hand strong.

[DoughtyOne]

Biden’s cognitive skills are rather shaky these days.

“Hmmm, my pants are wet and what is that familiar smell?”

He wouldn’t know...

You really expect him to tie the “Inflation Reduction Act”
to some sort of situational reality?

I knew you didn’t...

[Schatze]

As the article says farther down, it's technically true "if you’re comparing the seasonally-adjusted change from June 2022 to July 2022 for 'urban consumers.' The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis. However, the more broadly analyzed and reported inflation statistic is the year-to-year (July 2022 vs. July 2021) increase in inflation for “all items” – which rose 8.5% - as BLS reports in the next sentence"

[Flick Lives]

Inflation is now magically compared not YoY but to the prior moth. If it was 8.5 last month and 8.5 this month it is now zero by regime math. So now there is no inflation and no recession. It’s magic.