Wednesday 8 May 2024

Biden: There’s ‘Corporate Greed,’ But People ‘Have the Money to Spend’ on More Expensive Groceries

 During an interview aired on Wednesday’s broadcast of CNN’s “OutFront,” President Joe Biden stated that while “corporate greed” has caused an increase in the amount of money people have to spend on groceries and people feel real pain from the cost of groceries and food and he’s angry people have to spend more, “if you take a look at what people have, they have the money to spend.”

Host Erin Burnett said, “[T]here’s real pain. Grocery prices are up 30% — more than 30% since the beginning of the pandemic, and people are spending more on food and groceries than they have at any time really in the past 30 years. That’s a real day-to-day pain that people –.”

Biden cut in to respond, “No, it really is, and it’s real. But the fact is that, if you take a look at what people have, they have the money to spend. It angers them and angers me that you have to spend more. For example, the whole idea of this notion that Sen. Casey (D-PA) talks about shrinkflation. … For example, a Snickers bar, they did a thing, and it’s like 20% less for the same price. That’s corporate greed, that’s corporate greed. And we’ve got to deal with it and that’s what I’m working on.”

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