Blame Inflation Mostly on Democrats

Everything seems more expensive, and the government’s statistics agree. The Consumer Price Index rose by 19% during the first 3 ½ years of Biden’s presidency, according to Forbes magazine. Inflation actually peaked at a rate of 9% in the middle of 2022.The average cost of gasoline nationwide was $2.28 per gallon at the end of Trump’s term but has now risen to $3.24 last month – a 42% increase! By way of comparison, prices only rose 6% during the first 3 ½ years of Trump’s presidency — a rate of slightly less than 2% per year (the Federal Reserve’s long-term target is 2%).

Inflation “steals” people’s money

Here is an example of the effect of inflation on ordinary Americans. The median household income in the United States in 2021 was $70,784. If a family lived on $70,784 in 2021, then after 3 ½ years of the Biden-Harris administration and a total of 19% inflation they would need $84,233 to purchase the exact same amount of goods and services in 2024. That means they would need to find an additional $13,449 somewhere – in savings if they have any savings, or perhaps put it on a credit card. In terms of our apples example above, they would be paying more dollars but just getting the same number of apples. We might even say that inflation has “stolen” $13,449 from that family, because that is how much extra money they need in order to maintain the same standard of living.

Comparing inflation under Trump and under Biden

Here is a comparison of inflation rates under President Trump and under President Biden:

Democrats see these figures and say, “Look! Inflation is coming down!” But what they fail to mention is that prices have not come down. Prices are still increasing, just not as rapidly. Groceries are still expensive. Gas for driving a car is still expensive. Houses are still expensive. The higher prices havealready been baked into the cake, and Americans continue to feel the results every time they go to the grocery store.