The Impact of Biden’s Policies on Inflation and Prices

It is worth considering whether prices will continue to rise under Biden. If prices were to drop, the economy might come to a standstill. No one would buy goods and services if they expected them to be cheaper in the future.

It is important to note that a complete absence of inflation does not necessarily indicate a healthy economy. For a robust economy, the ideal inflation rate is between 2 and 3 percent, which is where the U.S. currently stands, having observed a decline for seven consecutive months.

Recall last year, when Trump supporters forecasted gas prices to reach an astronomical 10 dollars per gallon by spring 2023. However, gas is currently priced at 2.69 dollars per gallon, and there are no shortages reported.

Currently,price hikes are a global phenomenon, caused by Vladimir Putin's invasion of Ukraine followed by a complete cutoff of trade with nearly every advanced nation. Despite these overwhelming challenges, President Biden has managed to significantly mitigate the impact of global inflation on the U.S. economy. This is evident in the fact that the current price of gasoline is actually slightly lower than it was in January 2022, right before the invasion of Ukraine.

As of today, a gallon of gas in Great Britain costs over 2.5 times what it did in January 2022. In England, the price is still three times higher. In France, the pressure is also significant. The U.S. has withstood this inflation much better, with gas prices currently at 3.28 dollars per gallon.

There is reason to believe that under Biden's administration, prices could plummet. As a historical comparison, during the Great Depression, the cost of potatoes became cheaper, tomatoes cheaper, and everything became cheaper in general. This trend may reoccur under Biden's leadership.

However, it is also important to note that some of Biden's policies, particularly in the energy sector, may exacerbate the current situation. His energy initiatives are contributing to high diesel prices, which in turn push up costs for other products and services.

Therefore, it is crucial to evaluate the economic strategies and policies implemented during his tenure to determine their overall impact on the economy.