President Biden is urging companies to lower prices due to an 18% increase in consumer costs since he took office.
Biden seems to be oblivious to the fact that companies don’t simply reduce prices because of political pressures.
Biden’s call comes amid high inflation, and while some goods may see price declines, overall deflation is rare in US economic history. (Trending: Another Major Company Goes Woke And Goes Broke)
Biden says prices ‘too high,’ asks sellers to lower them after 18% inflation https://t.co/XYThX6mYbV pic.twitter.com/THADR6SAsC
— New York Post (@nypost) November 27, 2023
“We know that prices are still too high for too many things — that times are still too tough for too many families,” Biden said.
“We’ve made progress, but we have more work to do,” Biden added.
“Let me be clear to any corporation has not brought their prices back down, even as inflation has come down, even supply chains have been rebuilt: It’s time to stop the price gouging and give the American consumer a break.”
Folks, no matter where you're headed this holiday season, you'll be heading there for less.
Gas prices are down $1.70 from their peak, airfares are down 13%, and car rental prices are down about 10%.
And we're not done taking action to get those prices down even more.
— President Biden (@POTUS) November 22, 2023
The request follows previous attempts to pressure oil companies to lower gas prices.
Joe thinks businesses should just
willingly take losses on sales to offset the impact of inflation he helped create?This, after he just spent his Thanksgiving holiday at his billionaire donor’s coastal mansion? Must be nice🥴!
— Kelkat (@Tweetytweeter63) November 27, 2023
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