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Biden: Truss plan a 'mistake' amid 'worldwide inflation'
By COLLEEN LONG - Oct 15, 2022, 07:38 PM ET
Last Updated - Jun 24, 2023, 02:36 AM EDT
President Joe Biden is calling embattled British Prime Minister Liz Truss’ abandoned tax cut plan a “mistake,” saying he is worried that other nations’ fiscal policies may hurt the U_S_ amid what he calls “worldwide inflation.”
PORTLAND, Ore. (AP) — President Joe Biden on Saturday called embattled British Prime Minister Liz Truss' abandoned tax cut plan a “mistake,” and said he is worried that other nations' fiscal policies may hurt the U.S. amid “worldwide inflation."
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“I wasn’t the only one that thought it was a mistake," Biden said. "I disagree with the policy, but that’s up to Great Britain.”
Biden's comments came after weeks of White House officials declining to criticize Truss' plans, though they emphasized they were monitoring the economic fallout closely. He was speaking to reporters at an Oregon ice cream shop where he made an unannounced stop to promote the candidacy of Democratic gubernatorial candidate Tina Kotek, as Democrats across the country face a tough political environment amid GOP criticism of their handling of the economy.
Biden said he was not concerned about the strength of the dollar — it set a new record against the British Pound in recent weeks — which benefits U.S. imports but makes the country's exports more expensive to the rest of the world.
The president said the U.S. economy "is strong as hell.”
“I’m concerned about the rest of the world,” he added. “The problem is the lack of economic growth and sound policy in other countries."
Said Biden: “It's worldwide inflation, that's consequential.”
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