President Biden defended his administration by asserting that inflation was low and blaming “red states” for their economic issues.
In his final interview before leaving office, Biden spoke with MSNBC host Lawrence O’Donnell about a range of topics, including the economy and inflation.
The president pushed back against criticism of his handling of inflation, arguing that the only alternative was job loss.
President Biden discussed various topics about his administration with MSNBC host Lawrence O’Donnell. (MSNBC screenshot)
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Dismissing concerns from economists like Larry Summers, Biden argued that his COVID stimulus spending would not lead to more inflation, stating that the alternative was increased unemployment and another recession.
“But guess what? I was absolutely convinced. Give the American people half a shot. They’ll step up and get the job done if you give them the opportunity. Look what they did. They stepped up in every major endeavor,” he said. “I never believed we couldn’t have a soft landing. We had a soft landing. Inflation is down almost to 2%, a lot going on.”
The Labor Department reported that inflation rose by 2.9% in December, up from 2.7% in November, marking the highest rate since July 2024.
Biden went on to criticize red states, claiming that they had mishandled their economies and required more investment compared to blue states.
A majority of Americans still rated the economy as only “fair” or “poor” in a new Fox News survey. (Photographer: Ting Shen/Bloomberg via Getty Images)
Reports have shown that Republican-led states like Florida and Texas recovered more quickly than blue states after the pandemic.
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A recent Fox News survey indicated that almost twice as many people believe the Biden administration worsened the economy rather than improved it, with 52% vs. 28%. Additionally, 89% of voters express extreme or very high concern about inflation, up from 83% at the beginning of Biden’s term.
Inflation rose by 2.9% in December, up .2% from November, according to the Labor Department. (istock)
70% of voters believe the economy is in poor shape, with six out of 10 Democrats agreeing that the economy is only fair or poor.
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Fox News’ Dana Blanton contributed to this report.
