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Woke CNN Mocks Biden’s Celebration of Reduction of Inflation On The Day It Hits New High

By 09/14/2022 9:00 AMNo Comments

Despite being Biden’s cheerleading media house, even CNN thought Tuesday’s “Inflation Reduction” celebration was a travesty. 

President Biden was ridiculed Tuesday for celebrating the “reduction” of inflation, on the very day inflation hit a new high, while the markets crashed. A CNN report also took to mock the poorly timed celebration at a time at which the American economy is crashing.

Source: CNN (Getty Images)

The White House on Tuesday celebrated the passage of a $740 billion spending bill absurdly named the “Inflation Reduction Act”, even though it does nothing to reduce inflation. Ironically, the party came just hours after a disappointing August inflation report, showing new record-breaking numbers. 

In response, A CNN anchor said: “There is this unfortunate split screen right now with the Dow taking a total beating…it feels like it’s hard to be celebratory for some people.”

“Today’s CPI report confirms that the US has a serious inflation problem,” economist Larry Summers, a Democrat, tweeted. “Median inflation used to be a favorite indicator for team transitory. This month it was at its highest ever reading.”

According to the report, inflation in August was 8.3% – up from July. Wages are down 2.8% Grocery-food prices surged 13.5% from last year – the largest spike since 1979. Energy prices surged 15.8% – the most in over 40 years.

The Dow Jones plummeted more than 1,200 points and S&P 500 dropped more than 4%.

Apart from CNN, several other economic experts mocked the celebration and laid down the statistic on Twitter. 

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Rhea Sovani

Author Rhea Sovani

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