Rep. Tom Emmer (R-Minn.), chairman of the National Republican Congressional Committee, blames the Biden administration for the raging inflation and high gas prices affecting American citizens and predicts that Democrats will regret their policies during the midterm elections in November.
Economist Larry Summers warned the administration 16 months back that destroying America’s energy independence and pumping trillions of dollars of cash into the economy would push up inflation, Emmer told Fox News.
Not only has Biden “flooded” the economy with $1.9 trillion in cash, but there is still $800 billion from the Coronavirus Aid, Relief, and Economic Security (CARES) Act that is yet to be spent. When American consumers, who have been “locked up” for more than a year, start consuming, “you’re going to have problems,” Emmer added.
“They saw this coming,” he said, referring to Democrats. “They’ve tried to blame it on anything but themselves.”
“[The Biden administration is] directly responsible for the inflation, the gas prices, one crisis after the next, and that’s one of the reasons that Americans will show up in November … change leadership in this country.”
The 12-month inflation in April came in at 8.3 percent, which is close to the highest rate in four decades. The high inflation rate is eating into wage growth as well, nullifying any effect of higher salaries. Gas prices are also at record highs.
The national average price of regular unleaded gas was $4.715 per gallon as of June 2, according to data from AAA. This is 12.42 percent higher than in early May and 55 percent higher than in June 2021. AAA says it’s the highest national average price on record.
The White House continues to defend Biden’s actions. In response to questions from Fox News reporter Peter Doocy, White House press secretary Karine Jean-Pierre insisted that Biden’s policies have helped the American economy “get back on its feet.” Jean-Pierre also blamed Russian President Vladimir Putin for the rise in gas prices.
“When we talk about the gas prices right now, this is indeed Putin’s gas hike. … We have seen about 60 percent increase in the past several months because of the amassing and his invasion of Ukraine,” Jean-Pierre said.
Sen. Lindsey Graham (R-S.C.) is accusing the Biden administration of purposefully pushing up gas prices. His comments came in the context of Biden saying that the increasing gas price is part of an “incredible transition.”
“This is a conscious effort by the Biden administration to destroy fossil fuel production in the United States, to get away from fossil fuels, and you’re living this experience,” he said while speaking to Fox Business. “This is an irresponsible shutting down of oil and gas production in America, making us more dependent on oil and gas from bad actors, and it’s destroying the American economy.”