This morning, Joe Biden addressed the bank collapses, including Silicon Valley Bank and Signature Bank. As we reported on Sunday, the Federal Reserve Board assured depositors that they would have full access to their money on Monday.
The purpose of that move and Biden’s speech was to try to assure Americans that the banking system was safe. “You can have confidence that the banking system is safe,” Biden said during his remarks. “Your deposits will be there when you need them.”
That’s what he needed to say.
But then, because he’s Biden he just can’t leave things alone and stick to reality.
BIDEN: "We've made strong economic progress in the past two years."— RNC Research (@RNCResearch) March 13, 2023
When Biden took office, inflation was at 1.4% and gas was $2.39/gal. Today, inflation is at 6.4% and gas is $3.47/gal. pic.twitter.com/eSGujc296m
Biden says "take-home pay for workers is going up."— RNC Research (@RNCResearch) March 13, 2023
Except it isn't — inflation has outpaced wages for 22 straight months. pic.twitter.com/GXSYaV692f