Biden admits inflation unacceptably high after rate surges

President Biden admitted Wednesday that inflation was “unacceptably high” after the annual rate of price increases surged to 9.1% in June — the highest level since November 1981 — as Republicans accused the White House of having no plan to deal with the economic emergency.

In a statement issued shortly after he arrived in the Middle East, Biden tried to deflect the horrid report by noting that it — like every other inflation report — was “out of date.”

“Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June,” the president said. “Those savings are providing important breathing room for American families. And, other commodities like wheat have fallen sharply since this report.”

However, the report from the Bureau of Labor Statistics found that so-called “core inflation,” which measures the cost of all items minus food and energy, rose 0.7% in June after increasing 0.6% in April and May — a total spike of 5.9% over June of last year.

The White House had tried to get ahead of the bad news before the report’s release, with press secretary Karine Jean-Pierre telling reporters the administration expected the reading to be “highly elevated.”

Regardless of the warning, Republican lawmakers lambasted the administration after the report’s release.

“Working families are struggling to make ends meet as they continue to face the worst inflation in 40 years. The economic sirens are blaring and economists are warning of looming recession. But @POTUS is covering his ears and turning his back on the American people,” Sen. John Barrasso (R-Wyo.) tweeted. 

“This is unsustainable and the Biden Administration has no plan to ease the high prices that are harming American families,” Rep. Gary Palmer (R-Ala.) wrote. 

“Democrats don’t care about things that matter to everyday working Americans such as inflation, a border crisis, gas prices or violent crime, they only care about the pet issues of their white, affluent & liberal donors & activists,” Sen. Marco Rubio (R-Fla.) said.

“New report: inflation hits a nearly 41-year high,” wrote Sen. John Thune (R-SD). “Groceries, gas, rent, utilities – almost everything is more expensive these days, & Americans are feeling the pain daily. This level of inflation is a direct result of Dems’ spending since they’ve taken control in DC.”

“Inflation continued to skyrocket in June because of Joe Biden’s reckless spending,” Sen. Marsha Blackburn (R-Tenn.) chimed in. “Inflation rose to a historic 9.1%, the highest level since 1981.”

“Inflation is up 9.1% – a fresh 40-year high. And what are Democrats doing to help suffering Americans? Pouring gasoline on the fire by revitalizing Joe Biden’s trillion dollar spending plan,” said Rep. Tom Tiffany (R-Wis.).

Rep. Brian Mast (R-Fla.) called June’s record numbers a “wake up call” for Biden and his Democratic colleagues to shift their agenda in Congress.

“Inflation is up to 9.1%, the highest in my lifetime,” he posted. “Out of control spending dug this hole. First rule of getting out of a hole? Stop digging. This has to be the wake up call for Joe Biden & DC Democrats: stop putting your liberal agenda ahead of the well-being of Americans.”

Rep. Claudia Tenney (R-NY) also directed her ire at Democrats in Congress Wednesday, saying, “Bidenflation continues to skyrocket. The latest report out today shows costs are up a whopping 9.1%! And even now, Democrats in Congress still want to spend more of your money and increase taxes on job creators and families.”

“It’s even worse than expected,” Rep Greg Murphy (R-NC) tweeted. “#Bidenflation has hit a new record high with #CPI hitting 9.1% (y/y). Too many dollars are chasing too few goods, and yet liberal Democrats are still plotting billions in new tax hikes.”

Rep. Clay Higgins (R-La.) accused the Democratic Party of “destroying America,” saying “families can’t make it” with inflation levels this high.

“Democrats are destroying America. Families can’t make it. We can’t buy groceries and pay rent. And all they can screech about is woke crap and climate BS. It’s insane. May God preserve our Republic,” he wrote. 

“The Biden Administration continues to break records: June inflation hit an unfathomable 9.1%,” Rep. Kevin Hern (R-Okla.) said. “While @POTUS will continue to blame businesses & foreign wars, the American people know that his policies are responsible for the pain they’re feeling everyday.”

“Remember, this didn’t just happen,” Sen. Ron Johnson (R-Wis.) tweeted. “This destructive inflation has been caused by Democrat’s war on fossil fuels and massive deficit spending. Biden and his enablers in Congress must be stopped.”

Sen. Thom Tillis (R-NC) took the opportunity to blast the Biden administration’s push for additional spending, saying: “This is the worst inflation we’ve seen in decades, and it’s crushing hardworking North Carolinians. The Biden administration’s only answer has been pushing for more wasteful spending that will make inflation even worse and cost Americans even more of their paychecks.”

Sen. Bill Cassidy (R-La.) agreed, writing: “Inflation was up 9.1% in June. Americans are suffering from Biden’s disastrous economic agenda. The last thing Americans need is a Democrat-imposed tax hike and more reckless spending.”