In his Tuesday night time interview on Fox Information, President Donald Trump admitted that inflation has elevated in current weeks, however sought guilty former President Joe Biden.
“Inflation is back,” Trump stated. “I’m only here for two and a half weeks. … I had nothing to do with it.”
As of Tuesday, the day the interview was recorded, Trump had been president for 30 days, not the “two and a half weeks” he claimed. He additionally falsely accused former President Joe Biden’s administration of spending $9 trillion on “the green new scam.”
Trump campaigned in 2024 on a sequence of Day 1 guarantees, together with the declare that he would take motion to decrease costs. That hasn’t occurred.
If something, his agenda is extra more likely to improve costs, not decrease them, in response to consultants. Trump has pursued tariff will increase with a number of of America’s buying and selling companions, justifying his motion with the false notion that the prices of these tariffs can be absorbed by the nations in query. In actuality, tariff will increase are handed on to customers and improve the prices of products, including to inflation.
The Trump administration can also be prioritizing deportation of undocumented migrants, which Trump has justified through the years with racist assaults on migrant communities. Knowledge exhibits that harsh restrictions on immigration are more likely to improve inflation.
In his first time period in workplace, Trump mismanaged the response to the COVID-19 pandemic to such an extent that the American economic system severely suffered. Biden inherited an financial mess that required laws just like the American Rescue Plan and the Inflation Discount Act. By the point Biden left workplace in January, the economic system was on stronger financial footing.
No matter new errors Trump makes with the economic system, he already has an excuse ready: Biden.
