on Tuesday President Biden touted President-elect Trump’s legacy. He called it “the strongest economy in modern history” when he took office in January. This is despite the fact that Americans are still struggling to afford homes and groceries due to inflation.
Biden voiced his “middle-out, bottom-up” approach to the economy at the Brookings Institution. , a public policy think tank in Washington, D.C., cited “a number of quotes” from critics describing his administration’s economy as strong.
“President Trump inherited the strongest economy in modern history. which makes the world envious,” Biden said.
Although inflation has eased significantly since its peak in 2022, grocery prices remain significantly higher than they were before the Covid pandemic spread across the world nearly five years ago.
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Biden said Trump received “The strongest economy in modern history” (AP Photo/Susan Walsh)
According to the latest Consumer Price Index inflation data from the Bureau of Labor Statistics. Americans are spending 22% more on groceries than when Biden took office nearly four years ago.
Voters say the economy remains the top issue facing the country, with 40% saying inflation was the most important factor in their vote. This was followed by immigration and abortion. According to Fox News’ analysis of voters in the 2024 election.
Biden spoke about his administration’s economic strategy and the future of the American economy at the Brookings Institution in Washington, D.C., on Tuesday. (AP Photo/Susan Walsh)
Even Trump noted during an interview with NBC News’ Meet the Press on Sunday that his White House victory last month depended on the economy.
“I won at the border. And win at the grocery store,” the president-elect said.
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Meanwhile, Biden believes Trump’s possible tax plan is “Big mistake”
Trump said during an interview with NBC News’ Meet the Press on Sunday that he won on the “border” and “grocery stores.” (Chip Somodevilla/Getty Images)
“By all accounts, the incoming administration is determined to return the country to another recession. And another tax cut for the wealthy,” Biden said. “That will not be paid for. or if already paid There will be real costs. Again creating large deficits or significantly reducing basic programs.”
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Asked in a recent interview if he could guarantee that his tariffs would not force Americans to pay more for goods, Trump replied, “I can’t guarantee anything.”
Fox News Digital’s Paul Steinhauser contributed to this report.
