This morning, Joe Biden addressed the bank collapses, including Silicon Valley Bank and Signature Bank. As we reported on Sunday, the Federal Reserve Board assured depositors that they would have full access to their money on Monday.
The purpose of that move and Biden’s speech was to try to assure Americans that the banking system was safe.
“You can have confidence that the banking system is safe,” Biden said during his remarks. “Your deposits will be there when you need them.”
That’s what he needed to say.
But then, because he’s Biden he just can’t leave things alone and stick to reality.
“I am going to ask Congress and the banking regulators to strengthen the rules for banks to make it less likely this bank failure will happen again,” Biden said.
Then he falsely blamed President Donald Trump who hasn’t even been in office for more than two years and had nothing to do with this collapse.
BIDEN: “During the Obama/Biden administration, we put in place tough requirements on banks…to make sure that the crisis we saw in 2008 would not happen again. Unfortunately, the last administration rolled back some of these requirements.” pic.twitter.com/BHz4gzOQxy
— Townhall.com (@townhallcom) March 13, 2023
Trump didn’t make remove any regulations that affected this bank collapse. This had more to do with the raising of interest rates in response to Bidenflation. So it’s at least in part on Biden’s horrible policies once again. Yet even if what he said had been the case, why would he not have corrected it in the two years that Democrats have had complete power in Congress before this?
Once again this is just Biden shifting blame, and that’s not a reassuring thing when he should be assuring people. Taking responsibility is reassuring, lying and deflecting blame isn’t.
Confusion like this was also not good.
BIDEN: “We must get the full accounting of what happened and why those responsible can be held accountable.” 🤔 pic.twitter.com/7Xd7sLOSTI
— RNC Research (@RNCResearch) March 13, 2023
“We must get the full accounting of what happened and why those responsible can be held accountable.” Wonderful, he’s catching “word salad” disease from Kamala Harris in addition to his other incoherence.
Then he continued to lie about the “progress” his administration has made on the economy.
BIDEN: “We’ve made strong economic progress in the past two years.”
When Biden took office, inflation was at 1.4% and gas was $2.39/gal. Today, inflation is at 6.4% and gas is $3.47/gal. pic.twitter.com/eSGujc296m
— RNC Research (@RNCResearch) March 13, 2023
Biden says “take-home pay for workers is going up.”
Except it isn’t — inflation has outpaced wages for 22 straight months. pic.twitter.com/GXSYaV692f
— RNC Research (@RNCResearch) March 13, 2023
Inflation has been at record heights, yet Biden brags about his “plan” yet his “plan” seems to be just to keep on spending still more.
He was then asked if this would have a ripple effect in the system, but he refused to take any questions and beat it out of the door quickly.
“Can you assure Americans that there won’t be a ripple effect? Do you expect other banks to fail?”
BIDEN: *shuts door* pic.twitter.com/CNuUhPbJAi
— RNC Research (@RNCResearch) March 13, 2023
I’m sure the handlers told him not to take any questions because that would likely get him into trouble. The more he talks, the worse it was likely to be, which would counter the effort to reassure people.
But that’s pretty sad that’s the situation that we’re in with Biden.
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