Barack Obama says Biden has ‘repaired the economy and kept unemployment low’ amid 8.2% spike in prices

Former President Barack Obama said that President Biden has fixed the economy while keeping unemployment low amid an inflation rate of 8.2%.

Obama made the comments during a campaign event for US Senate candidate John Fetterman in Philadelphia on Saturday night.

“Think about what Joe Biden has achieved. Despite the historic pandemic, he’s not only repaired the economy and kept unemployment low, which you shouldn’t take lightly, because a lot of people are. thought with a pandemic like history and the shutdown, that we were likely going to go into a Great Recession, and we didn’t,” Obama said.

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Obama also said that Biden has “reduced health care and prescription drug costs” and passed an infrastructure bill “that will bring more people here in Pennsylvania and around the country to work and make the economy better.” Our economy is stronger.”

INFORMATION surveilled more than expected in September AS PRICES BETTER

Barack Obama

Former U.S. President Barack Obama speaks to supporters of Pennsylvania Democratic candidate for the Senate John Fetterman at Schenley Plaza, on the University of Pittsburgh campus, on November 5, 2022, in Pittsburgh, Pennsylvania. (Jeff Swensen / Getty Images / Getty Images)

“If you help the Democrat keep the House and get a few more seats in the Senate, you can guarantee that he’ll make more progress on the issues you care about,” Obama said.

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Employers added 261,000 non-farm jobs in October, more than expected, while the unemployment rate rose slightly to 3.7%, up from 3.5% in September.

SOLID OCTOBER WORKS REPORT, REDUCING FED INFLATION

Joe Biden

President Joe Biden speaks about his student debt relief plan at Central New Mexico Community College, Thursday, November 3, 2022, in Albuquerque, NM (AP Photo / Patrick Semansky / AP Newsroom)

In January 2021, when Biden took office, the consumer price index, a measure of everyday items like gasoline, groceries and rent, was up at an annual rate of 1.4%.

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In September, prices rose 8.2% on a year-over-year basis.

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Joe Biden, Barack Obama and Kamala Harris

President Joe Biden joins former president Barack Obama and Vice President Kamala Harris on an announcement expanding access to coverage under the Affordable Care Act in the Rose Garden at the White House on April 5, 2022 . (Photo by Demetrius Freeman / The Washington Post via Getty Images / Getty Images)

When compared with the same time last year, core prices, excluding food and energy, rose 6.6%, the fastest pace since 1982.

Megan Henney of FOX Business contributed to this report.

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