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. During that speech, he blamed everyone and everything but himself and his policies for the economic struggles.
During their coverage of his speech, NBC Nightly News was the only evening newscast to call Biden out on his inflation lies. Both ABC’s World News Tonight and CBS Evening News either ignored his partisan blame game or moved on after airing his juvenile comments
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.
To read the relevant transcripts click “expand”:
ABC’s World News Tonight
6:41:03 p.m. Eastern
VICTOR OQUENDO: And with growing fears of a recession, President Biden facing growing pressure to take steps to ease the pain. Today in Philadelphia, blaming Republicans for blocking his proposals to lower prices on things like drugs and child care.
JOE BIDEN: The problem is, Republicans in Congress are doing everything they can to stop my plans to bring down costs on ordinary families.
OQUENDO: But for now, so many Americans are feeling the squeeze, asking how long they can weather the storm.
CBS Evening News
6:36:07 p.m. Eastern
NORAH O’DONNELL: From the summer heat to white-hot inflation spikes. President Biden defended his economic record in Philadelphia today, arguing that the unemployment rate remains near a 50-year low. And with gas prices hitting record levels, the White House today announced the President will visit Saudi Arabia. Here's CBS's Meg Oliver.
MEG OLIVER: The expected interest rate hike comes as everything from gas and food to air travel have seen the largest annual increase in nearly 40 years. President Biden today said reigning in rising prices was his top priority.
JOE BIDEN: Put America in a position to tackle a worldwide problem that is worse everywhere but here-- inflation, it's sapping the strength of a lot of families.
OLIVER: While the Federal Reserve tries to tackle surging inflation, interest rate hikes could potentially create more economic pain for consumers by increasing borrowing costs and discouraging spending.
NBC Nightly News
7:07:33 p.m. Eastern
LESTER HOLT: We want to turn now to the struggling economy. Tomorrow, the Federal Reserve is expected to announce the biggest interest rate hike in almost 30 years in an effort to bring inflation under control. Here’s Tom Costello.
TOM COSTELLO: Amid skyrocketing inflation and with polls showing most Americans disapprove of his handling of the economy, President Biden today pointed to his own successes.
JOE BIDEN: We’ve created 8.7 million new jobs in 16 months, an all-time record.
COSTELLO: While again blaming the exploding prices on Vladimir Putin's war in Ukraine.
BIDEN: Just since he invaded Ukraine, it has gone up $1.74 a gallon. Because of nothing else but that.
COSTELLO: But inflation was running hot well before Russia invaded, fueled in part by the supply chain crisis and massive pandemic stimulus spending. Today, more evidence that inflation is not cooling. The producer price index, a gauge of wholesale prices up nearly 11 percent in one year. Drivers in 21 states plus D.C. are now paying more than $5 a gallon for gas, a record.