a. Inflation
- Inflation came roaring back under Biden. During his first 35 months in office, the Consumer Price Index rose 18%.
b. Gas prices
- The price of gasoline shot up even faster—29%.
c. Wages
- Wages also have gone up under Biden, but not as fast as prices. Median real wages are only now approaching where they were when Biden took office During his first three years in office, Trump saw wages outpace inflation — the opposite of Biden.
d. GDP
- Real gross domestic product (which is adjusted for inflation) was 2.5% higher in 2023 than it was in 2022. This marks the third straight year of economic growth under Biden. The real GDP increased 5.8% in 2021 and 1.9% in 2022. (In 2020, Trump’s final year in office, the U.S. economy was battered by the COVID-19 pandemic, and real GDP declined 2.2%.)
https://www.factcheck.org/2024/01/bidens-numbers-january-2024-update
https://www.politifact.com/article/2024/mar/04/Biden-Trump-economy-who-did-better
e. Price of Groceries
- The price of groceries increased more than 20% during President Joe Biden’s first three years in office and exceeded wage growth.
- During the first three years of President Donald Trump’s administration, the grocery index rose from 237 in January 2017 to 243 in December 2019 — an increase of 2.5%.
https://wisconsinwatch.org/2024/01/biden-groceries-food-president-prices-costs-wage-fact-brief/
(This is crazy! How did this happen in such a short time? See How Did We Get Here?.)