PRESIDENT TRUMP: Joe Biden’s Real Economic Record | Joe Hoft

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PRESIDENT TRUMP: Joe Biden’s Real Economic Record

Trump vs Biden DOW

Joe Biden’s real economic record.

President Trump shared this last night.

  • Since Biden took office in January 2021, prices have risen by an unaffordable 18%, forcing the average American household to spend an additional $11,619 every year just to make ends meet.
    • The price of eggs are up 37 percent.
    • The price of baby food is up 28 percent.
    • People are paying 20% more on rent
    • Energy bills are 29% more expensive.
  • When accounting for inflation, weekly earnings have fallen 4 percent since Biden took office.
  • Home affordability is at its lowest level in nearly 40 years.
      • The median monthly mortgage payment has doubled since Joe Biden became president.
      • Since Biden took office, the cost of purchasing a home has skyrocketed by 25.4%, putting the American Dream of homeownership out of reach of millions.

 

  • Car payment defaults hit a 29-year high under Joe Biden.

 

  • Credit card debt is up 38.7 percent since Biden took office.

 

  • Gas prices are 40 percent higher than when Joe Biden took office.
    • The average price per gallon was $2.39 on January 20, 2021, it’s now $3.35 per gallon.

 

  • Voters say the economy performed better under President Trump and that prices will rise if Biden gets re-elected.

 

 

 

  • Total household debt has reached a record $17.5 trillion under Joe Biden.

 

  • Biden’s proposed budget for FY2024 includes $4.7 trillion in tax hikes on individuals and businesses.

 

The Trump Record:

  • President Trump signed the Tax Cuts and Jobs Act, the largest tax reform package in history into law—lowering taxes for Americans, but benefiting the working and middle classes the most. Filers earning less than $50,000 a year saw a tax cut of up to 26%, while filers earning less than $100,000 saw a tax cut of up to 17%.

 

  • President Trump left office with the inflation rate at 1.4%.  In fact, inflation during Trump’s term never went above 2.9%. Average inflation during Trump Presidency – 1.89%

 

  • Real median household income reached a historic high of $78,250 under President Trump. Real median household income increased 6.34% during the Trump Administration.

 

  • President Trump presided over a 19% decline in food stamp rolls, or 8.5 million people—a federal savings of $11 billion.

 

President Trump’s economic policies lowered the percentage of people living in poverty by 15% during his administration.

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