Biden takes another victory lap.

Says his economic policies tamed inflation.

I guess it’s not as bad as when he declared inflation was down to zero, but…

According to WaPo: “Biden is now seeking to reframe the economic narrative ahead of announcing his own reelection plans early next year”.


It’s cringe worthy when Joe declares that he’s got inflation under control.

Yep, the year over year rate of change has dropped from over 8% down to the mid 7s, but that’s hardly an end to the inflationary pressures that everybody is feeling.

The number to focus on is 13.8% … that’s how much prices have gone up since Biden was inaugurated.



Diving into the numbers:

> When Biden was inaugurated, the CPI was 262.2 … in November, it was 298.3 … that’s a 13.8% increase over Biden’s 22-month term … on an annualized basis, that’s a 7.1% APR

> In comparison: When Trump was inaugurated, the CPI was 243.6 … when he left office in Jan. 2021, it was 262.2 … that’s a 7.6% increase over Trump’s 4-year term … on an annualized basis, that’s a 1.9% APR

> Cutting the numbers a different way: From Trump’s inauguration date to Nov. 2022 (almost 6 years), the CPI increased 21.3% … 1/3 of the increase occurred during Trump’s run (at a 1.85% APR, which is roughly what the Fed targets for the U.S. long term rate) … and 2/3s of the increase has hit during Biden’s reign (2 years at a 7.1% APR)



Think about this:

> If inflation had continued at Trump’s APR ( a 1.85% APR), the CPI would be about 270 today … we’d be seeing prices about 10% lower than they are today.


Ask yourself a variant of Ronald Reagan’s “cut to the chase” question:

Is your pantry, wallet, IRA, 401K or 529s better off today than they were 22 months ago?

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