Normally I wouldn’t do anything so facile as to blame inflation on a particular politician, but given that the Democrats are pinning their hopes on hanging the “affordability crisis” around President Trump’s neck, a little historical perspective is in order. Thus, from the Unleash Prosperity Hotline:
We went back to January 2020 when the pandemic started. We found that 13.5% of cumulative inflation (prices are 24% higher today) has happened under Trump, while 86.5 percent of cumulative inflation happened under Biden.
So the “affordability crisis” is the hangover effect of Bidenomics when the White House dumped some $4 trillion of helicopter money out the windows.
This chart shows it nicely:
One of the problems in our political life is that many people seem to assume that a new administration starts with a clean slate. Beginning on Inauguration Day, whatever happens is chalked up to the account of the new president. Whereas in fact, as someone once said, the evil that men do lives after them. Sadly, we are still living with the legacy of the disastrous Biden years.
