In a video posted on Sunday, President Joe Biden described shrinkflation as a “rip off,” raising eyebrows by calling for companies to stop engaging in the practice that involves decreasing product sizes while keeping prices the same.
But a post containing the video on the @POTUS X account was inundated with backlash as people suggested that Biden is to blame for the problem.
“The lack of self-awareness here is truly remarkable!” BlazeTV host Sara Gonzales wrote.
“President Biden taking yet another opportunity to point the finger at others for his failed policies,” Republican Sen. Tim Scott of South Carolina declared.
“Don’t let President Biden gaslight you. ‘Shrinkflation’ is not the problem, Bidenomics is,” the Heritage Foundation tweeted. “Businesses are trying to stay competitive in the market by limiting how much they raise prices to offset the cost increases they’ve encountered thanks to Biden’s economic policy decisions.”
“You pulled the fast one with deficit spending the public pays for with #inflation. Food companies are doing you a favor by hiding your inflation tax by shrinking product sizes. If they were more transparent by raising price instead, your record-low popularity would be even lower,” Peter Schiff tweeted.
“Your dollars buy a lot less than they used to at the grocery says the guy who has spent trillions we don’t have in the name ‘inflation reduction,'” BlazeTV host Matt Kibbe tweeted.
During an interview for “60 Minutes,” Federal Reserve Chair Jerome Powell noted that while “prices of some things will decline, others will go up. But we don’t expect to see a decline in the overall price level.”
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