WATCH: Biden Says He's Had Record-Breaking Job Creation, Claims Inflation Was At 9% When He Came Into Office

During an interview with CNN's 'The Lead' on Wednesday, President Joe Biden made a claim that inflation when he took office in January 2021 was at nine percent. However, this claim is far from the truth, as official data shows that inflation was at a much lower rate of 1.4 percent. This attempt to shift blame on his predecessor, 45th President Donald Trump, is a clear example of political maneuvering. 

"No president's had the run we've had in terms of creating jobs and bringing down inflation. It was nine percent when I came into office, nine percent. But it — look, people have a right to be concerned, ordinary people," Biden said. "The idea that you bounce a check and you get a $30 fee for bouncing the check, I changed that, you can't charge more than eight bucks for that or your credit card, your late payment, $35. There's corporate greed going on out there, and it's got to be dealt with."

Earlier in the interview, President Biden argued that his administration has turned the economy around and that the average consumer is feeling good about their finances. "The polling data has been wrong all along," Biden said. "The idea that we are in a situation where things are so bad. We've created more jobs. We created a situation where people have access to good-paying jobs, and last, I saw the combination of inflation, the cost of inflation, and all those things. That's really worrisome to people, with good reason. That's why I'm working very hard to bring the cost of rentals down, to increase the number of homes that are available."

While President Biden may attempt to blame his predecessor for his terrible economy, Democrats living in reality see the worsening American economy as a major problem for Biden's reelection. Former Obama advisor David Axelrod put it bluntly on Thursday, telling CNN, "I thought that he spent $25 million mistakingly last fall touting Bidenomics and making the same argument that the president is making right here. It is absolutely true; the world was plunged into an economic crisis by the pandemic, and we've come back faster than any other country, and he's right about that," Axelrod explained to CNN. "But that's not the way people are experiencing the economy. They experience it through the lens of the cost of living. And he's a man who's built his career on empathy."

"Why not lead with the empathy? I think he's making a terrible mistake," the former Obama advisor said. "If he doesn't win this race, it may not be Donald Trump that beats him; it may be his own pride." A recent Reuters/Ipsos poll found that voters overwhelmingly trust Trump to reinvigorate the economy over the next four years. From those polled, 41 percent say Trump has a better approach to the economy, while Biden is only trusted by 34 percent of voters.

WATCH:

NEW: CNN gives zero pushback after President Biden claims inflation was at 9% when he got into office.

Inflation was actually at 1.4% when Biden took office.

Biden: “No President has had the run we've had in terms of creating jobs and bringing down inflation. It was 9% when I… pic.twitter.com/UxtlutPUjG

— Collin Rugg (@CollinRugg) May 9, 2024

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