Biden: GOP may try to impeach me now that inflation is cooling

President Biden on Friday touted the strength of the economy, suggesting during a speech in Maine that Republicans would move to impeach him because of progress on inflation.

Biden made his first visit to Maine since taking office, where he spoke at Auburn Manufacturing Inc., a textile manufacturer. The president’s trip was intended to highlight positive economic numbers and reinforce the White House’s belief that Biden’s policies are responsible for easing inflation and growing consumer confidence.

“While there’s more work ahead, earlier this week the Washington Post suggested Republicans may have to find something else to criticize me for now that inflation is coming down,” Biden said. “Maybe they’ll decide to impeach me because it’s coming down. I don’t know. I love that one. Anyway, that’s another story.”

Speaker Kevin McCarthy (R-Calif.) earlier this week said he expects the House GOP’s investigations into the foreign business activities of Biden’s family to rise to the level of an impeachment inquiry. He later said House lawmakers would carry on with their investigations into the president and his family, as well as the president’s handling of the border.

Some House Republicans have been agitating for impeaching Biden for months, though many Republican senators have cautioned against moving forward with such a measure.

While in Maine, Biden signed an executive order to incentivize creating new inventions in the U.S.when those inventions are developed using taxpayer dollars. The order also aims to improve transparency to better track progress toward domestic manufacturing goals.

The White House has spent the past month pushing the message around “Bidenomics,” seeking to tie the president closely to an economy that has continued to show signs of strength.

The economy grew at a 2.4-percent rate in the second quarter in a surprisingly strong showing, according to data released this week.

In addition, the personal consumption expenditures (PCE) index, a measure of inflation, rose 3 percent from June 2022 to June 2023, down from a 3.8 percent annual increase in May, the Commerce Department announced Friday. 

Core PCE, which excludes more volatile food and energy costs, cooled from 4.6 percent year-over-year in May to 4.1 percent in June.

"I’m not here to declare victory on the economy. We have more work to do. We have a plan for turning things around," Biden said Friday. "Bidenomics is just another way of saying, ‘Restoring the American dream.’”