President Joe Biden is setting historical records, but not in good ways.
After 18 months in office, the Biden administration has presided over more inflation than any other elected president since 1948, which is when the Bureau of Labor Statistics began keeping track.
With an 8.4 percent average, Biden comes in first place as an elected president residing over some of the highest inflation rates the U.S. has seen.
Former President Gerald Ford is the one exception to Biden's historical record, but since he was not elected as president he is an outlier in the data.
"Even if it is not responsible for the entirety of its rise, the Biden administration is unwittingly drafting a case study in how a White House's policies can make inflation worse. Biden entered office as a pandemic was constraining the supply side of the economy, and his policies then exacerbated the supply-side constraints," National Review reported.
On July 13, Biden also noted that though inflation had risen yet again, at least the prices of gas had decreased a bit, the Washington Post reported.
Overall, no matter how Biden tries to angle it, the inflation that continues to rise and break records, makes him the most inflationary elected president of the past 72 years.
Thursday, July 28, 2022
Achievements: Joe Biden Officially Sets Record for Highest Inflation Ever Recorded Among Any Elected US President
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment