Biden appears to have a new excuse for high inflation rates after blaming Russian president Vladimir Putin for the past two years.
Joe Biden now says inflation is high and prices skyrocketed this past year because cars are expensive….
Advertisement – story continues below
And cars were expensive this past year because the US government hadn’t yet nationalized the computer chip industry.
“I signed the CHIPS and Science Act. A groundbreaking law! We’ll once again manufacture semiconductor chips that power every day things…” Biden said in a Labor Day speech in Milwaukee.
“The reason why, this last year inflation was so high, you know the biggest reason? Cost of automobiles!” Biden said.
“You know why they cost so much? They didn’t have the computer chips to make the automobiles,” he said.
Advertisement – story continues below
VIDEO:
Biden’s latest inflation excuse: Prices are skyrocketing because cars are expensive because last year Washington hadn’t yet nationalized the computer chip industry pic.twitter.com/ATbRM6eWoe
— Tom Elliott (@tomselliott) September 5, 2022
Biden last month signed the CHIPS and Science Act of 2022 which will allocate more than $50 billion in federal funding to manufacture semiconductor chips in the US.
Source material can be found at this site.
