President Biden stated on Wednesday that the invasion of Ukraine by Russian President Vladimir Putin has thrown the world into chaos and that he was attempting to address the issue of Thanksgiving’s high cost.
The president stated, at the conclusion of an event announcing new initiatives to reduce two types of banking junk fees by restricting charges on people who deposit bad checks and on customers who overdraw their accounts as a result of slow bank processing, that he believes that one of the things that frustrates the American people is that they are aware of the degree of chaos in the world.
Biden proceeded by saying that they are aware of the tremendous stresses that Putin’s conflict has placed on the United States, Europe, and the rest of the world.
“There’s a lot going on that we’re doing — and it adds up. And what I’m going to be coming back to you with, as an example, I don’t know if I’m going to do it from the podium or a release, but take an average family who’s gonna go visit their mother or father for Thanksgiving. What’s the charge? Are they gonna come home from school, I mean, there’s a lot of money, these are billions of dollars. IIt doesn’t add up to billions for the individual, but it adds up to two, three, four hundred bucks for average families. And they want to know what we are doing. And there’s a lot going on that we’re doing.”
A request for additional information regarding Biden’s impending announcement on Thanksgiving did not immediately receive a response from the White House.
The US Department of Agriculture disclosed last week that an avian flu outbreak had caused turkey prices to increase by over 75% from the previous year. Other holiday essentials like potatoes, butter, and cranberries also saw double-digit percentage price increases from the previous year.