Biden scrambles to fix inflation problems he helped create

President Biden has reiterated that tackling surging inflation is his top priority, but economists have blamed rising prices on his giant COVID-19 stimulus package.

Biden declared his administration's top priority was "getting price increases under control" earlier this month after the Department of Labor reported that inflation soared 9.1% over the last 12 months. The president also endorsed the Inflation Reduction Act, a bill that would increase tax revenue by $739 billion while attempting to lower pharmaceutical prices and investing in a wide swath of clean energy programs.

"This is the action the American people have been waiting for," Biden said after the bill was announced by Sen. Joe Manchin, D-W.Va., Wednesday. "This addresses the problems of today – high health care costs and overall inflation – as well as investments in our energy security for the future."