President Biden’s remarks to the nation on inflation on June 3 were marked by his opening with three assertions that were blatant lies, and lies based so closely on known U.S. economic data, that the White House officials who prepared the notes for the speech would clearly have known they were writing obvious lies, whether Biden did or not. Biden said: “Since I took office, families are carrying less debt, their average savings are up ... and more Americans feel financially comfortable....” Since Biden took office households’ revolving debt has risen from $975 to $1,100 per capita and total consumer debt is at a record high; the personal savings rate has dropped from 16% to 4.5% of disposable income; and almost all Americans think inflation of everyday goods is making their lives more stressful, according to the American Psychological Association (and just about any other national survey one could pick).
From there, Biden went on to the big obvious lie, that Russia and Vladimir Putin have caused the current raging inflation. His speech was evidence that a government which will tell its own people such power-mad war propaganda as “Russian genocide,” “war criminal Putin,” “brave, patriotic Azov Regiment,” “Putin’s inflation,” etc. loses all respect even for the people’s expectation that the President will acknowledge their obvious problems when speaking to them. (https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/06/03/remarks-by-president-biden-on-the-may-jobs-report-2/)
Treasury Secretary Janet Yellen will not let the President out-lie her. Her forthcoming book in late September, Empathy Economics: Janet Yellen’s Remarkable Rise to Power and Her Drive to Spread Prosperity to All, was leaked to Bloomberg News, which reported June 3 that Yellen writes there that in early 2021 she urged Biden to cut the $1.9 trillion American Rescue Plan “by one-third,” because she was “worried by the specter of inflation"! She fully, publicly supported and promoted it at the time, along with the rest of Wall Street, which is now full of billionaires who say they knew it would worsen inflation.
