President Biden said Tuesday he was growing bored of listening to himself talk about fighting 40 years of high inflation during what he called an attempted “genocide” by Russian forces in Ukraine.
Biden’s candor about his own disinterest came during a 25-minute speech to tractors in Menlo, Iowa, focused on allowing higher levels of ethanol in gasoline this summer.
The President said he was taking more steps to bring down costs for Americans after annual inflation hit 8.5% in March. Biden said his bipartisan $1.2 trillion infrastructure bill allocated $700 million to a Mississippi river sluice and dam project to speed up shipping of soybeans and corn.
“Through modern floodgates, we will help farmers get their produce to market faster and more efficiently, reduce costs and keep American agriculture competitive around the world,” he said, before adding, “Guys, the list goes on. I’m starting to get bored here, but it’s important stuff – I think, I think.”
The president reiterated his call for Congress to pass a sweeping social spending plan that he claimed would lower the cost of living through a variety of subsidies, including for childcare, health care and green energy initiatives — even though that legislation would actually be dead to inflation worries by centrist Senator Joe Manchin (D-WV).
“Look, it’s going to make a huge difference for families and it’s the most powerful way Congress can address inflation right now,” Biden said. “But even as we work with Congress, I will not wait to take action to help American families. I am doing everything in my power to lower the price and address Putin’s price hike.”
According to data from the Bureau of Labor Statistics (EPA/JIM LO SCALZO), inflation rose to a new four-decade high of 8.5% in March
Biden noted that he recently ordered the release of 1 million barrels of oil per day from the US Strategic Petroleum Reserve, which he says could lower gas prices by 10 to 35 cents a gallon.
“This is by far the largest release of our national reserves in history. It’s a wartime bridge to increase oil supplies as we work with US oil producers to ramp up their production this year.”
“We’ve already made progress since the inflation data came in March,” the president stressed, adding, “Your family budget, your ability to fill up your tank, none of us should depend on a dictator declaring war and a half.” genocide commits world away.”
It was the first time Biden or a US official used the term “genocide” in reference to the Ukraine conflict amid reports of significant civilian casualties.
Forensic police officers exhume dead civilians in Bucha, Ukraine April 12, 2022.Mikhail Palinchak/SOPA Images/Sipa USA
Republicans have criticized Biden for taking action to prevent domestic drilling and processing of oil, including trying last year to halt drilling permits on federal land and pending oil pipeline projects, including the Keystone XL pipeline from Alberta to stop.
It’s unclear if the Environmental Protection Agency’s emergency executive order, which allows the sale of gas containing a 15 percent ethanol blend, will withstand legal challenges that thwarted a Trump-era attempt to expand E15 fuel.
Most gasoline in the US is blended with 10% ethanol, and higher blends are typically banned between June 1 and September 15 amid concerns it contributes to smog in the summer months. The Supreme Court left the current limits in place in January.
A reporter aboard Air Force One Tuesday pressed White House Press Secretary Jen Psaki on the reasons for declaring an “emergency” in April that will take effect in June to adopt the E15 amendment.
“Since President Putin invaded Ukraine, we’ve seen gas prices rise somewhere between 80 cents and $1, and that’s certainly having a significant impact on Americans’ wallets across the country,” Psaki said, excluding the Reason for the statement to answer directly emergency almost two months before June.
“There are a number of reasons for taking this step,” Psaki continues. “But the fact that currently without this move 2,300 stations would essentially have coverage above the E15 pump would not allow people to use the cheaper gas and would not allow additional supplies to enter the market. At this moment, when it appears that a foreign dictator is invading another country, we want to give ourselves that extra flexibility and also do whatever it takes to lower costs for the American people.”
Although inflation jumped 0.6% in March, it rose gradually over the past year, reaching 7.9% in February after hitting 7.5% in January and 6.9% in December.
Republicans have blasted President Joe Biden for scrapping the Keystone XL crude oil pipeline.REUTERS/Todd Korol//File
Biden claimed in December that November’s 6.8 percent annual inflation rate was likely the “peak.” He said in July that high inflation was “temporary” if it was around 5 percent.
Republicans generally blame government spending — including Biden’s $1.9 trillion Build Back Better Act and the bipartisan infrastructure bill. Biden has blamed supply chain shortages from Putin and COVID-19.
A poll released Sunday by CBS found about 69% of US adults disapprove of Biden’s handling of inflation. Even among Democrats, 41% reject Biden’s response.