INFLATION/GESREY©ISTOCK / MONEY HOUSE/LEMON_TM©ISTOCK
Dollars per gallon
CPI annual percent change
INFLATION 3X HIGHER UNDER BIDEN
The gas price was $2.50 a gallon when Trump leſt office. Now, in most markets it is $3.50 to $4 a gallon. In California, gas has been above $5 a gallon.
years, the U.S. was producing more oil and gas than it was consuming. Prices fell, and America became an oil and gas exporter. Trump struck a symbolic blow as well by withdrawing the United States from the anti- American Paris Climate Agreement. Biden came into office declaring war on American energy — and he’s winning. He prom- ised to kill off the American oil, gas, and coal industry. His first act in office was to cancel the vital Keystone XL pipeline, which would have transported American oil and gas to our com- munities. (This was the same president who said we needed to spend $1 trillion on infrastructure.) The gas price was $2.50 a gallon when Trump
left office. Now, in most markets it is $3.50 to $4 a gallon. In California, gas has been above $5 a gallon. Overall, energy prices rose 40% in the first 40 months of Biden’s presidency.
HOMEOWNERSHIP UNAFFORDABLE One big reason homeownership is out of the question for many Americans is that average mortgage payments for a median value home have more than doubled in three-and-a-half years under Biden. As such, the National Association of Realtors calculates that the affordability of housing has hit a 40-year low under Biden, after affordability surged under Trump.
10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%
Trump Biden Trump Average Biden Average 9.1%
5.3%
1.9% 1.4% Jan. ’17 Jan. ’18 Jan. ’19 Jan. ’20 Jan. ’21 Jan. ’22 Jan. ’23 Jan. ’24 May ’24 SOURCE: Bureau of Labor Statistics
GAS PRICES A DOLLAR A GALLON HIGHER UNDER BIDEN U.S. regular gasoline, all formulations, dollars per gallon Trump
$5.50 $5.00 $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00
Biden Trump Average Biden Average
$3.50 $2.48
Jan. ‘17
Jan. ‘18
Jan. ‘19
Jan. ‘20
Jan. ‘21
Jan. ‘22
Jan. ‘23
Jan. ‘24
May ‘24 SOURCE: Energy Information Administration
MONTHLY MORTAGE PAYMENTS HAVE DOUBLED UNDER BIDEN Rising cost of homeowership
$3K
$2.5K $2K $1.5K $1K
$3,322
2006
2009
2012
2015
2018
$1,746 2021
$50 TRILLION IN NATIONAL DEBT The national debt has risen rapidly under Republicans and Democrats. I hold both parties responsible for the sea of red ink in Washington. Trump was a big borrower. But no president perhaps ever has been as financially reckless as Biden. The government debt burden, which now stands at $34
trillion, is up roughly $6 trillion — already — since Biden came into office. This is roughly more money, adjusted for inflation, than we borrowed to fight and win World War II.
2023 The data assumes a 10% down payment and includes private mortgage insurance. Source: CBRE
If we take out the two COVID-19 years (2020 and 2021),
when federal spending skyrocketed due to the catastrophic shutting down of businesses and schools, the average deficit was $750 billion a year under Trump and $1.5 trillion under Biden. There has been some disagreement about who is more responsible for the catapulting of the national debt — Trump or Biden. To answer that, we examined the Congressional Budget Office baseline for 2021-2031 when Trump left office versus
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