DAILY WIRE
House Republicans rebuked President Joe Biden for his optimistic view of the economy on Tuesday following an inflation report which continued to show elevated prices.
Price levels rose 6.4% between January 2022 and January 2023, according to data released on Tuesday morning by the Bureau of Labor Statistics, exceeding analysts’ forecasts as energy, food, and shelter prices apply pressure to household budgets. Biden, who has offered a rosy view of the economy despite challenges such as inflationary pressures and supply chain bottlenecks, said prices are “coming down” last week in his State of the Union address.
“Inflation has been a global problem because of the pandemic that disrupted supply chains and Putin’s war that disrupted energy and food supplies,” he said. “But we’re better positioned than any country on Earth.”
House Ways and Means Committee Chairman Jason Smith (R-MO) told The Daily Wire that spending proposals offered by the commander-in-chief are…
