Commentary

Biden Celebrates Slightly-Less-Terrible Inflation Report

By Timothy H. Lee
Thursday, December 15 2022

In what has become a miserable new normal, the U.S. Labor Department this week reported a November annualized inflation rate of 7.1%. So how did Joe Biden react? By spinning the number as some sort of triumph and spiking the ball, naturally. We’re now two years into the Biden presidency, and the best they can say is that at least inflation isn’t as bad as it was in June at 9.1%. For proper perspective, recall that when Biden entered the White House in January 2021, inflation stood at 1.4%. During the preceding four-year period…

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