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

Former US President Barack Obama said that President Biden has reformed the economy while keeping the unemployment rate at 8.2% inflation.

Obama made this statement during a campaign for US Senate candidate John Fetterman in Pennsylvania on Saturday night in Philadelphia.

“Think about what Joe Biden has already done. Despite the historic pandemic, he’s not only repaired the economy and kept unemployment low, which, by the way, you shouldn’t take for granted because many people with A historic pandemic was thought to be, and the conclusion that we were probably going to have a great depression, and we didn’t,” Obama said.

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Obama also said Biden “reduced the cost of health care and prescription drugs” and passed an infrastructure bill that “will put more people to work here in Pennsylvania and across the country and make our economy stronger.”

Inflation rose more than expected in September as prices remained somewhat high.

Barack Obama

Barack Obama, the former president of the United States, speaks with supporters of the Democratic candidate of Pennsylvania, John Fetterman, on November 5, 2022, in Schenley Plaza, on the campus of the University of Pittsburgh, in Pittsburgh, Pennsylvania. (Jeff Swensen/Getty Images/Getty Images)

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“If you help Democrats keep the House and pick up a few more seats in the Senate, you can guarantee that he will make more progress on the issues you care about,” Obama said.

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

OCTOBER JOBS REPORT Steady, prompting Fed to fight inflation harder

Joe Biden

President Joe Biden speaks on his student loan relief plan at New Mexico Community College, Thursday, Nov. 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 such as gasoline, groceries and rent, rose an average of 1.4%.

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In September, prices rose by 8.2% on an annual basis.


Joe Biden, Barack Obama and Kamala Harris

President Joe Biden with former President Barack Obama and Vice President Kamala Harris to announce expanded 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)

Compared to the same period last year, core prices, which exclude food and electricity, rose 6.6 percent, the fastest pace since 1982.

FOX Business’ Megan Henney contributed to this report.


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