Biden Didn't Propose Inflation Study

Misbar has learned that the original claim was posted on Twitter by The Babylon Bee, a self-proclaimed satire site. 

While the Babylon Bee social media site is clear that they are just making fun of the latest news, their posts are often very close to the actual headlines and then shared out of context. For those not understanding the origin of the claims, it can leave some to wonder if the news they post and then others share is actually true. In this case, the post is about the current state of inflation and the big spending that President Biden is proposing.

According to the Babylon Bee article, “President Biden proposed a $2 trillion spending bill Monday for the purpose of determining the cause of rising inflation. This is Biden’s fourth proposed $2 trillion bill in as many months.” 

While Biden is not proposing a bill to investigate inflation, he has proposed big spending since taking office in January – and inflation is a concern for many Americans. All in all, the President is proposing three spending plans totaling $6 trillion according to the New York Times. 

Inflation is also a concern for many in the U.S. and around the world. Stocks on Wall Street dropped for the third consecutive day last week as new data on consumer prices added to concerns that inflation could cause the Federal Reserve to raise interest rates. However, according to Reuters.com, the Federal Reserve has argued that the inflation spike is temporary and mostly based on supply and demand issues coming out of a global pandemic.