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Biden Speech On Economy: A Long String Of False Claims

Holland McKinnie
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Joe Biden’s speech last week about the current state and future of America’s economy has sparked controversy due to a series of false and misleading claims made in a thinly-veiled attempt to put the administration in the best light possible.

During his speech, Biden claimed that an additional 700,000 construction projects were created across the U.S. However, this number was largely exaggerated, and the White House had to issue a correction stating that only 7,000 construction projects were created.

Biden also claimed that the cap on seniors’ drug spending had taken effect, with a limit of $2,000 a year on prescription drug costs for seniors. The fact, however, is that the $2,000 cap is not in effect and won’t take effect for another two years, as it was part of the Democrat’s Inflation Reduction Act that Biden signed last year.


The President took credit for millions of people receiving the Covid-19 vaccine, but it was former President Trump who initiated the vaccine rollout. In addition, Biden claimed that only 3.5 million people had been fully vaccinated against Covid under Trump when in reality, 19 million people had already received their first shot before Biden took office. The 3.5 million figure was the number of people who had received two shots to complete their primary vaccination series.

The House Ways and Means Committee, chaired by Rep. Jason Smith (R-MO), issued a “Fact Check” pointing out several of the false claims made by Biden in the Thursday speech. In part, the committee found: “In fact, the entirety of 2022 was worse for economic growth than expected. And even more trouble lies ahead, according to the latest Leading Economic Index report.”

Biden posted a tweet on Sunday that was met with disbelief from many users. He wrote: ‘My word as a Biden: I’ve never been more optimistic about America’s future than I am today.”

The Rapid Response Director for the RNC, Tommy Pigott, criticized Biden for misleading the U.S. by tweeting that the border is open, real wages are down, energy costs are high, and the Taliban controls Afghanistan, among other issues.


Other users remarked that the speech was a sad lie, with one pointing out that “my word as a Biden” is about the same thing as saying “my word as a Clinton.” In a word, meaningless.

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