Summary
President Joe Biden touted his administration’s economic recovery efforts, citing job growth, reduced inflation, and infrastructure investments, as he prepares to hand off a strong economy to Donald Trump.
Biden criticized Trump’s proposed steep tariffs on imports, warning they could harm the economy and reintroduce inflation.
Trump plans tariffs against China, Mexico, and Canada, raising concerns about trade disruptions similar to those seen during his first term.
Economists caution that such policies could quickly reverse recent economic gains and weaken the U.S. economy.
https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm
This is a chart showing percentage difference over 12 months of CPI for the last 20 years. Biden’s presidency came with less than 1% inflation which only rise to record levels in the first 2 years. It has come down to high 2% and settled at that level.
In the last 12 months everything other than energy prices have rise by 2.4%. A 2-2.4% in prices after having 2 years of near 10% inflation.
You can see how Democrats saying that they have done good for economy and common man seems hollow.
Nov 20 Nov 20 Nov 20
c/dataisugly
You can check the website linked in the comment.
With the years:
Biden’s term started in 2021, CPI peaked in 2022 and fell just as quickly.
Inflation actually peaked in Mid-2021 and fell.
I am not saying Biden or Democrats didn’t do anything,
My point is 1$ thing was 1.1$ at the end of 2022, 1.12$ 2023 and 1.15$ at the end of 2024 when voting happened. The rise in food was much more substantial.
While at the same time, there was no growth in salary and the constant threat of being laid off.
Edit 1: People have a very limited memory and the mere perception that things are bad and wont change. It is understandable if they are uninterested in either outcome.
And we should be thankful because it could have been, and almost certainly will be, much worse under Republican management.
The only way to truly solve these problems is with a supermajority willing to tax the rich and expand benefits and protections to the needy and working class, but the USA voted against that so they won’t get solutions. In fact, the Republicans are primed to write the new Tax Plan when the old one expires in 2026, and their last plan was fucking catastrophic, so sucks to suck for them.