Posted 2/15/2024, 5:42:19 PM
Inflation Rises under Biden, Reducing Purchasing Power Despite Pay Gains
- Inflation under Biden's first 3 years is around 17%, higher than the 6% under Trump's first 3 years
- Earnings are up more under Biden but not as much as inflation, so people have less purchasing power
- Prices for groceries, rent, transportation up more under Biden than Trump
- Healthcare, prescription drugs, and college tuition up less under Biden than Trump
- Voters say they trust Trump more than Biden on the economy, posing a challenge for Biden in 2024