NBC Throws Cold Water on Biden’s Red Hot Inflation Lies

On Tuesday, President Joe Biden spoke to the AFL-CIO and addressed the nation’s crumbling economy and skyrocketing inflation that Americans are suffering under during his reign. In that speech, Biden blamed all but himself and his economic policies for America’s current economic problems. 

They covered his speech during their coverage. NBC Nightly NewsBiden’s inflation lies were called out by only one evening newscast. Both ABC’s World News Tonight CBS Evening NewsEither he ignored the partisan blame or he moved on, after expressing his juvenile remarks

In light of the Federal Reserve’s expected decision to raise interest rates even further to combat Biden’s inflationary fiscal policies, anchor Lester Holt announced, “the Federal Reserve is expected to announce the biggest interest rate hike in almost 30 years in an effort to bring inflation under control.” 

During his news package, correspondent Tom Costello covered Biden’s AFL-CIO speech: “amid skyrocketing inflation and with polls showing most Americans disapprove of his handling of the economy, President Biden today pointed to his own successes” and “blaming the exploding prices on Vladimir Putin’s war in Ukraine.”

NBC aired Biden lying that since Russian President Vladimir Putin invaded Ukraine, gas prices have “gone up $1.74 a gallon. Because of nothing else but that.” 

Costello set the record straight that “inflation was running hot well before Russia invaded, fueled in part by the supply chain crisis and massive pandemic stimulus spending.” 

Meanwhile, on ABC’s World News Tonight, correspondent Victor Oquendo played the role of stenographer for Biden, noting that Biden was “blaming Republicans for blocking his proposals to lower prices on things like drugs and child care.” 

After airing his smears of congressional Republicans who have only sought to save the country and himself from his out-of-control spending, Oquendo just let Biden’s comments sit and moved on to the rest of the economic report. 

CBS Evening News decided to ignore Biden’s excuses and attacks altogether and aired a soundbite of him patting himself on the back. 

This biased coverage from ABC & CBS was brought to you by Fisher Investments on ABC, and Salonpas on CBS. They are linked. 

To read the relevant transcripts click “expand”:   

ABC’s World News Tonight
6/14/2022
Eastern at 6:41:03

VICTOR OQUENDO – President Biden is under increasing pressure to reduce the suffering caused by fears about a recession. He blames Republicans today for blocking his proposal to lower child care and drug prices. 

JOE BIDEN – The problem is that Republicans in Congress do everything possible to stop me from lowering costs for ordinary families. 

OQUENDO – But, for the moment, Americans feel squeezed and wonder how long they can weather it. 

CBS Evening News
6/14/2022
Eastern at 6:36 p.m. 

NORAH O’DONNELL: From the summer heat to white-hot inflation spikes. Biden today defended Philadelphia’s economic record, saying that the unemployment rate is still at or near its 50-year lowest. Today, President Biden announced that he will be visiting Saudi Arabia because gas prices have reached record highs. CBS’s Meg Oliver is here. 

MEGOLIVER: As everything has experienced the biggest annual increases in almost 40 years, including gas and food, it is likely that interest rates will rise. Today, President Biden stated that he was committed to reducing rising prices. 

JOE BIDDEN – America should be in a position where it can tackle an international problem that’s worse anywhere but here–inflation. It is depleting the strength and vitality of many families. 

OLIVER – While the Federal Reserve attempts to combat surging inflation, rising interest rates can potentially cause consumers more economic pain by increasing borrowing costs or discouraging spending. 

NBC Nightly News 
6/14/2022
Eastern, 7:07:33 

LESTER HOLT: Let’s now turn our attention to the economy in trouble. The Federal Reserve plans to announce tomorrow the largest increase in interest rates in 30 years to try to keep inflation in check. Here’s Tom Costello. 

TOM COOSTELLO: Despite skyrocketing inflation, and polls showing that most Americans are dissatisfied with his economic management, President Biden spoke today to praise his accomplishments. 

JOE BIDEN: We’ve created 8.7 million new jobs in 16 months, an all-time record. 

COSTELLO: Blaming the exploding price of oil on Vladimir Putin’s war against Ukraine. 

BIDEN: Since he invaded Ukraine in 1991, the price of a gallon has risen to $1.74. This is because it has been doing nothing else. 

COSTELLO – But inflation ran hot long before Russia invaded. It was fueled partly by the huge pandemic spending on stimulus and the supply crisis. More evidence today shows that inflation isn’t cooling. Producer price index is a measure of wholesale prices, which has increased by nearly 11 percent over the past year. The record-setting gas price is $5 per gallon, which drivers pay in 21 of the 50 states as well as D.C.