Staff Reports
During a recent interview on Fox News, Mike Pence, the former vice president, claimed that inflation has been at a 40- year high. Jared Bernstein, who was appointed by Joe Biden to serve as the head of the council of economic advisers, noted that the inflation rate has actually decreased by two-thirds.
Shannon Bream, on the other hand, noted that even though inflation under Biden has decreased, it's still higher than when he took office. Bernstein noted that wages have not kept pace with the rising cost of living.
Nobody is buying Bidenomics. Mortgage rates are at a 22 year high and 2 out of 3 Americans are living paycheck to paycheck. The time has come for us to offer a vision for renewing this economy! pic.twitter.com/LMmGRIHSbd
— Mike Pence (@Mike_Pence) September 3, 2023
During his appearance on X, Pence left out his comment about 40-year-high inflation. He then posted a picture of a mortgage rate that's 22 years old. In addition, he noted that "two out of every three Americans are struggling with paying their bills." This is a clear attempt by Pence to paint a negative image of the current state of the economy under Biden.
During his appearance, Pence mentioned the possibility of appointing Judy Shelton to the Fed. She is a well-known critic of monetary policy and was once considered for a position within the central bank under Donald Trump.
It is clear that Pence aims to undermine the policies of the Biden administration by maintaining outdated talking points, but Bernstein's response shows that the current White House is aware of this strategy. The goal of the administration is to address the country's economic problems.
