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According to the consumer price index—the most common measure of U.S. inflation—the annual rate of inflation was only 1.4 percent in January 2021, the month Biden was sworn into office ...
Facts First: Biden’s claim that the inflation rate was 9% when he became president is not close to true. The year-over-year inflation rate in January 2021, the month of his inauguration, was ...
The inflation rate when Biden took office in January 2021 wasn’t 9%. It was 1.4%. It has risen on his watch, peaking at about 9.1% in June 2022, but by last month it had come down to 3.3%.
In fact, his presidential salary is $400,000 per year; the joint tax filings of President Biden and first lady Jill Biden showed $619,976 in income last year, $579,514 in 2022 and $610,702 in 2021.
The first year of the Biden presidency (2021) saw strong growth in real GDP, wages, employment, stock market returns, and household net worth, coupled with an increase in inflation, as the economy recovered from the pandemic recession of 2020. During 2022–2023, the unemployment rate averaged 3.6%.
In fact, the inflation rate was 1.4% in January 2021, the month Biden was inaugurated as president, and did not hit 9% until June 2022, after he had been president for more than 16 months.
Nonetheless, Biden has been telling a false story about his late friend for more than two years. We wrote in 2021 that Biden might have been misremembering the details of some real conversation he ...
Blinder and Watson estimated the average Democratic real GDP growth rate at 4.3%, vs. 2.5% for Republicans, from President Truman's elected term through President Obama's first term, which ended January 2013. [ 1] This pattern of faster GDP growth under Democratic presidents continued after Blinder and Watson published their study; GDP grew ...