President Joe Biden recently touted his economy as the GDP continues to shrink under his watch. On Thursday, the Democrat met with small business leaders to praise his administration contribution to the backbone of America. Biden noted the important role smaller enterprises play in the economy.
Amid intensifying inflation, the White House has struggled to point the finger on whose to blame for the crisis. President Joe Biden has continued to blame inflation on Russia, although prices had been soaring for several months before the Ukraine crisis.
Republicans are criticizing Democrat attempts to blame oil executives for soaring gas prices after a hearing on Capitol Hill. One America’s John Hines has more from Capitol Hill.
According to Republican lawmakers, American energy is under attack. On Tuesday, House Minority Whip Steve Scalise (R-La.) led a press conference detailing how Joe Biden’s policies are hurting Americans’ wallets.
Biden administration Chief of Staff, Ron Klain claimed the “economy is good,” despite runaway inflation and surging fuel prices. In an interview on Sunday, he said Joe Biden has created millions of jobs and improved quality of life for millions of Americans.
Former Treasury Secretary Larry Summers said Joe Biden’s verbal attacks on oil companies are not helpful in curbing high gas prices. In a recent interview, he criticized Biden’s plan to sell oil from the Strategic Petroleum Reserve.
Joe Biden announced he will tap U.S. oil reserves again for the 3rd time in less than a year. The administration will release 1 million barrels of oil a day from the National Petroleum Reserve in an effort to lower gas prices. The U.S. Energy Information Administration said the U.S. uses about 20 million barrels of oil a day, so releasing 1 million barrels a day is about 5 percent of what we consume.
Joe Biden said he plans to tap into oil reserves to helps with out of control gas prices. One Americas Stella Escobedo caught up with Steve Moore, former Trump Economic Advisor, who said a lot more will need to be done to bring down oil prices.
Senate Minority Leader Mitch McConnell (R-Ky.) finds Joe Biden’s gas price solution to be lacking. In a Thursday interview, the Kentuckian marveled at the White House’s pledge to dispense 1 million barrels of oil per day from the Strategic Petroleum Reserve.