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Trump has ‘I told you so’ moment over record inflation numbers

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Former President Donald Trump said Friday’s announcement that inflation had reached an annual rate of 8.6% would “never have happened” had he been reelected in 2020.

“Just out, really bad CPI – 8.6%. Worst number since December, 1981,” the 45th president posted on his social media site Truth Social. 

“Employment numbers 6,000,000 lower than it should be! I told you so,” Trump added. “Should never have happened!”

In addition to revealing that consumer prices surged 8.6% from May of 2021, the Labor Department also announced that the Consumer Price Index had risen 1% in May — well above the predicted increase of 0.7% and up from its 0.3% increase in April.

The cost of gas, food, and other necessary goods also rose – dashing any hopes that the strain on America’s wallets would ease anytime soon. 

Trump joined dozens of Republican lawmakers who also took to social media Friday to blast the Biden administration and other Democrats over the numbers.

The former president posted about inflation on his social media platform, Truth Social.
Chet Strange/Getty Images
Members of the Brown Beret National Party protest the high gasoline prices at a gas station in downtown Los Angeles June 4.
Damian Dovarganes/AP

“Another devastating inflation report for American workers and families. Another new 40-year high. Grocery prices off the charts, worst increase since the 1970s. Rent, gas, and electricity all way up,” Senate Minority Leader Mitch McConnell (R-Ky.) wrote. “The Democrats’ inflation has handed the average American a 3.9% real pay cut.”

“With real wages falling at their fastest pace in 40 years and inflation accelerating, Build Back Better in any form — which will fuel even higher prices — should be dead in the Senate. With the typical family now having to spend about $450 per month more to buy the same goods and services they did a year ago, life is harder for Americans in the Biden economy,” House Ways and Means ranking member Rep. Kevin Brady (R-Texas) said in a statement. 

“Every plan President Biden offers is another partisan gimmick, another ploy for better press, or a distraction — and it’s getting worse every day.” 

“Inflation is the worst tax of them all. Hardworking Americans are feeling the pain of rising gas and grocery prices. They are getting left behind by Biden’s failed leadership,” Rep. Carlos Gimenez (R-Fla.) tweeted

President Biden delivers a speech in Los Angeles on June 10; gas prices have exceeded $8 in some areas of Los Angeles.
Mario Tama/Getty Images

Some accused the Democratic Party of using primetime hearings with the House Select Committee investigating last year’s Capitol riot as a distraction from the staggering economic troubles.

“Newest data shows inflation has broken yet another record and climbed to 8.6% in May. Bidenflation is already costing American families $600 each month. House Democrats should focus on that – not relitigating January 6th,” Rep. Brian Mast (R-Fla.) wrote.

“I call on Speaker Pelosi and House Democrats to hold a prime-time hearing on the out-of-control inflation their policies have created,” tweeted House Minority Leader Kevin McCarthy (R-Calif.)

“While President Biden and Nancy Pelosi are detached from reality and focused on their political smokescreen January 6 hearings, Kansas families are struggling just to make ends meet each day as they deal with a level of inflation many of them have never seen in their lifetimes,” Sen. Roger Marshall (R-Kan.) also said in a statement.

“Americans can’t afford everything from gasoline to food to clothes, can’t find baby formula, and are dealing with a fentanyl crisis that is wreaking havoc on our communities. If my nearly 100 town halls are any indication, Kansans are not only mad, they are now panicked about Joe Biden’s inflation. This big spending and more borrowing must come to a screeching halt.”