12-13-2023, 07:10 PM
(12-13-2023, 05:56 PM)Luvnit2 Wrote: Read the entire article and maybe you and others will understand. rump was at 5.6% for his entire Presidency (PIR), see below.
https://rollcall.com/2023/09/20/latest-inflation-data-shows-americans-are-still-not-buying-bidenomics/
Biden, apparently, doesn’t realize that his economic program has not only failed to fix the economy, it has actually made things worse for average Americans. When inflation outpaces wage growth, people instinctively know it isn’t working for them or their families.
The CPI that is usually reported reflects the impact of Bidenomics’ year-over-year rate, while the Presidential Inflation Rate measures the rate of inflation (based on CPI data) by contrasting the CPI from the presidential inauguration month with the current month. This paints a more comprehensive picture of the scale of inflation over a presidency.
Since President Biden took office, prices have increased cumulatively by 17.4 percent, while hourly wages have increased only 13 percent. In looking at the past seven presidents, only Jimmy Carter had a bigger inflation rate, 26.2 percent, at a similar point in his presidency. For the past four presidents, their Presidential Inflation Rate was in single digits, and, specifically, Biden’s PIR is triple that of where Donald Trump (5.6 percent) and George W. Bush (5.4 percent) were at this point in their first terms.
Despite Democrats’ relentless efforts to claim otherwise, Biden’s economic track record is lacking at best. Yes, inflation has come down from the near historic highs people lived through in 2022, but prices continue to rise significantly, just at a slower rate.
So I read the article and then did some deeper research because the only place this "statistic" shows up is in this particular article. This index was developed by a right-wing former Newt Gingrinch employee. It's a made-up number with no context. Of course, it will look worse for a president who took office when the economy was crap and improved it than it would be for a president who took office when the economy was good and then crashed it.
It measures numbers at two ends with no concern about what happened between the start and end. A made up Republican numer because we know they can't win with the truth
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