(CNSNews.com) – Inflation is rising, the stock market is tanking, but not to worry — “the American people are well-positioned to face these challenges,” thanks to President Biden’s “economic historic gains,” White House spokeswoman Karine Jean-Pierre told reporters on Monday.
A reporter asked her: “President Biden once bragged about the stock market hitting “record after record after record on my watch.” How about now? All the gains from President Biden’s time in office have been wiped out.”
“So, as you know, we are watching — we’re watching closely,” Jean-Pierre responded.
“We know families are concerned about inflation and the stock market. That is something that the President is — is really aware of. And so, look, we face global challenges. We’ve talked about this. This is — we’re not the only country dealing with what we’re seeing at the moment as it relates to inflation.
“You know, Putin — Putin’s price hike, inflation, coming — coming out of a once-in-a-generation global pandemic — all of those things play a factor.
“And, you know — but the thing — the way that we see this is that the American people are well positioned to face these challenges because of the economic historic gains that we have made under this President — under this President in the last 16 months.”
The reporter asked what Biden would say to somebody who wants to retire, “but their 401(k) is getting wiped out?”
“So we know — we know that the — that high prices are having a real effect on people’s lives. We get that,” Jean-Pierre said.
“And we are incredibly focused on doing everything that we can to make sure that the economy is working for every — American people. But we are coming out of the strongest job market in American history, and that matters.
“And that — a lot of that is thanks to the American Rescue Plan, which only Democrats voted for that — Republicans did not — and it led to this economic boom — this historic economic boom that we’re seeing with jobs.”
The reporter asked Jean-Pierre if the American Rescue Plan also led to historic inflation.
“No,” she said. “That is not — that is — that is — that is not — that is not how we’re seeing the American Rescue Plan.
Look, the President came in — we have to remember what the President walked into. When he walked into this administration, the economy was at a standstill. Schools were closed. Businesses were shutting down. Twenty million people were on unemployment insurance benefits. That is what he walked into.
“And he took action. He got the American Rescue Plan done. Democrats — only Democrats voted for it. And it helped turn the economy around, including getting more than 200 million people vaccinated, having a comprehensive vaccination plan that — that was not in place when he walked into the administration.”
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