Amazon founder Jeff Bezos savaged President Joe Biden for falsely claiming that the White House had lowered the deficit amid surging inflation.
Bezos’ direct criticism of the president comes following the Bureau of Labor Statistics’ release last week, which showed that the consumer price index jumped 8.3 per cent in April from last year. The figure is higher than the projected 8.1 per cent, as detailed by Rebel News.
“Under my predecessor, the deficit increased every single year,” Biden claimed in a tweet. “This year, we’re on track to cut the deficit by $1.5 trillion — the biggest one-year decline ever. It matters to families, because reducing the deficit is one of the main ways we can ease inflationary pressures.”
Biden’s tweets prompted criticism from the Neoliberal Project, which called Biden’s claim “so silly.”
“The deficit is decreasing because we’re not doing pandemic aid anymore, and federal receipts are up because of inflation,” the group explained. “Congress, or the Biden administration, didn’t do anything to lower the deficit.”
Bezos quoted the Neoliberal Project tweet and accused Biden of lying to the public to make himself look good.
“In fact, the administration tried hard to inject even more stimulus into an already over-heated, inflationary economy and only Manchin saved them from themselves,” Bezos wrote. “Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country.”
Bezos’ remarks come following previous criticism he levelled against Biden, in which he suggested that Biden’s Disinformation Governance Board ought to review the remarks put out by the president.
He said so in response to Biden’s tweet that one way to bring down inflation would be to “make sure the wealthiest corporations pay their fair share.”
“The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead,” wrote Bezos. “Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection.”
As detailed by the Wall Street Journal, the high inflation rates stem from multiple causes primarily linked to the measures taken due to the coronavirus pandemic as well as restrictions on businesses.
“Consumers have been flush with savings from government stimulus programs and depressed services spending as a result of restrictions on businesses, leading them to open the spigot for goods that are in scarce supply,” the report found, as reported by the Daily Wire.
Supply chain disruptions remain an ongoing concern, and have only worsened with the onset of the conflict in Ukraine. China’s recent lockdowns in Shanghai have also contributed greatly to the disruption of transportation and goods.
“Energy prices, including gasoline, have gone up. Truck drivers, seaport slots and warehouse spaces are all in short supply, leading to costly delays and rising shipping rates for goods,” the report stated. “Fewer workers are in the labor market, encouraging those who are working to demand raises. And low interest rates from the Federal Reserve have made borrowing cheaper, making big purchases more attractive.”