President Donald Trump is distancing himself from the recent uptick in inflation, insisting the increase has “nothing to do” with his return to office. Instead, he pointed to  excessive government spending under former President Joe Biden. Speaking with Fox News host Sean Hannity on Tuesday night, Trump criticized Biden’s economic policies and attributed rising costs to legislative actions taken during his predecessor’s tenure. The interview, which also featured tech billionaire Elon Musk, saw the president sharply denounce federal spending in the last four years. “Inflation is back. No, think of it: Inflation’s back,” Trump said. “And they said, ‘Oh, Trump,’ and I had nothing to do with that.” Trump blamed the increase in consumer prices on what he labeled reckless expenditures by the previous administration. “These people have run the country. They spent money like nobody has ever spent. … They were given $9 trillion to throw out the window — 9 trillion,” he added. Among the policies Trump criticized was the Inflation Reduction Act, a key piece of Biden-era legislation aimed at addressing climate change and lowering prescription drug costs. Calling it the “Green New Scam,” Trump dismissed the measure as “one of the greatest scams in the history of the country.” The latest economic data supports concerns about inflation’s persistence. The U.S. consumer price index rose 3 percent last month compared to the previous year, up from 2.9 percent in December, according to the Labor Department. Rising costs of gasoline, housing, and groceries have contributed to the acceleration. Economists have warned that some of Trump’s own policies—including tax cuts and increased tariffs on foreign imports—could further fuel inflationary pressures. However, the president dismissed such concerns during the interview, instead praising Musk for his efforts to streamline government operations. Trump credited the Tesla CEO with helping to implement his administration’s economic goals, noting Musk’s involvement in the Department of Government Efficiency, a federal initiative aimed at cutting wasteful spending. While the president previously suggested Musk is not formally part of the advisory group, he emphasized the billionaire’s influence. According to Trump, Musk’s team has already identified $55 billion in government savings in January alone. He expressed confidence that the initiative could ultimately uncover $1 trillion in budget reductions. “As good as they are, they’re not going to find some contract that was crooked, you know, crooked as hell,” Trump said. “But I think he’s going to find $1 trillion.” Musk, in response, agreed with the assessment. “Yeah, I think so,” he said. As the 2024 presidential term progresses, the economic debate over inflation and government spending is likely to remain a focal point, with both parties offering contrasting explanations for the financial strain facing American households. (YWN World Headquarters – NYC)