On Tuesday, consumer prices hit a 41-year high as prices rose 8.5 percent in March. The White House said they expected this to happen due to the Russian invasion of Ukraine. Still, opponents say this record inflation has been coming as the economy has been artificially inflated due to several large spending bills by both President Joe Biden and former President Donald Trump.
Northern Kentucky’s U.S. Representative Thomas Massie said he predicted this in 2020, as then-President Donald Trump introduced the CARES Act to Congress.
“Who’s to blame for #inflation?” Massie said via Twitter. “@POTUS blames Putin. Republicans blame Democrats. The truth is in this graph. On 3/27/2020, Congress passed the biggest spending bill in history and followed up with more, totaling $7 trillion. I predicted this inflation when I opposed these bills.”
President Joe Biden said via Twitter that the price hike is due to the invasion, and he’s doing everything he can to remedy the situation.
“Putin’s invasion of Ukraine has driven up gas prices and food prices all over the world,” Biden said via Twitter. “70% of the increase in prices in March came from the Putin Price Hike.
“I’m doing everything I can to bring down prices and address the Putin Price Hike.”