Biden blamed the inflation hike on Putin. We explain the math. Two days after the Labor Department reported that consumer price index had risen to 8.5 percent, the fastest 12-month pace since 1981, President Biden appeared to pin much of the blame for the dismal inflation report on the Russian invasion of Ukraine. "What people don't know is that 70 percent of the increase in inflation was the consequence of Putin's price hike because of the impact on oil prices. Seventy percent," he said in North Carolina. How can Biden make this claim? Many readers were eager for an answer — especially since some people on Twitter truncated his comment to leave off "because of the impact on oil prices," making it seem especially absurd. Without saying so directly, Biden is referring to the monthly change in prices, not the annual change. That math checks out, as you will see if you read the full article. But if energy prices had not risen at all in March, the 12-month increase in prices would have been 7.6 percent. Enjoy this newsletter? Forward it to someone else who'd like it! If this email was forwarded to you, sign up here. Did you hear something fact-checkable? Send it here; we'll check it out. Biden's dubious number on preexisting conditions and Obamacare The president last week celebrated the 12th anniversary of the ACA, a.k.a. Obamacare, with his former boss. During the event, he used a number that's been a standard talking point for many Democrats: "If Republicans have their way, it means 100 million Americans with preexisting conditions can once again be denied health-care coverage by their insurance companies. That's what the law was before Obamacare." There are some problems with his claim. The figure he uses, 100 million, includes all people with a preexisting health condition, but a large percentage probably would not face a denial of health-care coverage, let alone higher premiums. A better figure to use would be at least half that size. Moreover, he claimed: "That's what the law was before Obamacare." About 56 percent of Americans under 65 get health insurance from their employers. (People over 65 are on Medicare, the health-care program for the elderly.) The ACA built on an existing law that already had greatly reduced the chances someone would be denied health insurance or face higher premiums if they had an employer-based health plan. That law, the 1996 Health Insurance Portability and Accountability Act (HIPAA), emerged out of the ashes of President Bill Clinton's failed efforts to provide universal health insurance. Biden earned Two Pinocchios. We're always looking for fact-check suggestions. You can reach us via email, Twitter (@GlennKesslerWP and @AdriUsero) or Facebook. Read about our process and rating scale here, and sign up for the newsletter here. Scroll down for this week's Pinocchio roundup. | 
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