Joe Biden made bizarre claims during a speech in Wisconsin, claiming that computer chips in automobiles is the biggest reason for sustained high inflation in the U.S.
“The biggest reason [inflation] was so high is because of the cost of automobiles. Do you know why they cost so much? Because they didn’t have the computer chips to make the automobiles,” Biden told the crowd during the “Laborfest” event in Milwaukee.
Biden: “The biggest reason [inflation] was so high is because of the cost of automobiles. Do you know why they cost so much? Because they didn’t have the computer chips to make the automobiles.” pic.twitter.com/9pBWXyDKMB
— Greg Price (@greg_price11) September 5, 2022
Though a shortage of computer chips is greatly contributing to higher car prices, they don’t cause inflation.
Inflation is caused by excessive government spending facilitated by the Federal Reserve’s endless money-printing powers, not car prices.
In other words, inflation drove up car prices. Car prices did not drive up inflation.
But now we can add “computer chips” to Biden’s crazy list of reasons for inflation.
In the past, Democrats have blamed inflation on many different things, including:
But the overwhelming majority of Americans, however, blame inflation on one person: Joe Biden and his spending policies.
To his credit, Biden himself at one point admitted his own “American Rescue Plan” legislation exacerbated soaring inflation.
But it appears he forgot all about that.
Elsewhere in his speech, Biden proclaimed victory over “Pharma” in reducing drug prices, and once again condemned “MAGA Republicans” as “threats to democracy”, which got him heckled again:
Heckler once again triggers Biden into unhinged on-camera aneurysm😳
"No No No No No No No No No No No No" pic.twitter.com/ZU9zLYN9Gs
— Danny De Urbina (@dannydeurbina) September 5, 2022
Watch Biden’s full remarks: