WH throws ‘inflation reduction’ party w/James Taylor as stocks crash over 8.3% rate

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Assessment: “You can’t make it up: Hours after this terrible inflation report, the White House is hosting an ‘inflation reduction’ celebration,” Senate Minority Leader Mitch McConnell (R-Ky.) tweeted.

President Biden threw an “inflation reduction” party Tuesday — even as inflation hit a worse-than-expected 8.3%, the stock market tumbled and stubbornly high prices for food and housing continue to slam American households.

Biden, 79, had classic folk rocker James Taylor kick off the White House South Lawn bash with his 1970 hit “Fire and Rain” — a song reportedly about suicide and heroin addiction — to belatedly celebrate passage of his Inflation Reduction Act spending bill.

“And He spoke a parable to them: “Can the blind lead the blind? Will they not both fall into the ditch?” Luke 6:39

President Joe Biden waves

President Biden
@POTUS

Exactly four weeks ago, I signed the Inflation Reduction Act into law. So today, we’re celebrating. Tune in at 3 PM ET as I deliver remarks and welcome the leaders and advocates who made it happen to the People’s House. 

But Biden, who hailed the 74-year-old Taylor as “a voice that heals our soul and unites a nation,” failed to mention the market rout sparked by the dismal Labor Department’s Consumer Price Index released earlier Thursday.

The disappointing monthly report showed inflation continued to remain near record-high levels in August – despite a continued demand-driven decline in the cost of gasoline.

Cheaper gas was offset by steep 12-month jumps in the cost of food (up 13.5%), electricity (15.8%), rent (6.8%) and health insurance (24.3%).

Read More @ NY Post HERE