Joe Biden’s lies are catching up with him fast as his Presidency implodes.
The more he panics, the more he doubles down on his outrageous lies.
But one Joe Biden lie just got him busted by officials in a Fed jurisdiction no one expected.
The San Francisco Federal Reserve is calling Joe Biden out for his serious dishonesty, as millions of Americans struggle on a daily basis to deal with the financial pain that Joe Biden is absolutely responsible for.
Joe Biden’s solution to every problem in the world is more government spending.
He even went as far as to claim his $4 trillion Build Back Better pork barrel spending plan would bring down inflation.
The monstrosity of a bill is a compilation of every awful left-wing idea conceived of in the past half century.
Since pushing his way into the oval office more than a year ago, Biden has done nothing but go on one long drawn-out shopping spree.
The bill was pushed through as “pandemic relief” but only about 8% was actually spent on anything related to COVID-19.
The bulk of it was a lobbyist’s dream come true — the biggest pork-filled giveaway in history benefiting all kinds of special interests.
Not surprisingly after flooding the economy with trillions of dollars the government doesn’t really have, inflation has absolutely skyrocketed.
It’s now at its highest level in 40 years and things are getting worse fast, with America leading the world into a downward spiral with the highest inflation on the planet.
Usually, this is the type of instability seen in third world countries.
But Biden is absolutely destroying the biggest economy in the world which means people around the globe will suffer as Americans lose their buying power.
Of course, now that he’s created a massive crisis, Joe Biden is busy trying to lie his way out of it.
First, his administration tried to claim that inflation was temporary.
Then they changed their tune to blame it on Vladimir Putin, who is conveniently the highest-profile bad guy on the planet at the moment.
There’s only one thing consistent about Biden’s frantic excuse making — he and his administration claim inflation couldn’t possibly have anything to do with his spending binge.
“I’m sick of this stuff,” Biden said. “The American people think the reason for inflation is government spending more money. Simply not true!”
But the Federal Reserve Bank of San Francisco just destroyed his blatant falsehood.
Fed economists found that the cause of inflation skyrocketing in the US, more than other developed countries, is a natural consequence of out-of-control government spending.
“Fiscal support measures designed to counteract the severity of the pandemic’s economic effect may have contributed to this divergence by raising inflation about 3 percentage points by the end of 2021,” Economists wrote in the San Francisco Fed’s weekly Economic Letter.
In other words, Biden steered us way off course with his dangerous lie that government spending doesn’t have a thing to do with inflation.
Considering how cautious the Fed typically is when making public statements, this is basically a five-alarm fire warning.
Joe Biden is absolutely responsible for the financial pain millions of Americans are struggling to deal with on a daily basis.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.