Bureau of Labor Statistics

Biden Claims No Inflation, 50% Unemployment Upon Taking Office; Trump Blames Him for Current Economic Woes Affecting Black and Hispanic Families

Jun 28, 2024, 02:00 AM

During a recent debate, President Joe Biden claimed that there was no inflation when he took office, attributing the lack of inflation to the economy being 'flat on its back' due to the previous administration's handling of the pandemic. Biden argued that the economy was in free fall and many people were dying when he assumed office. He also stated that his administration created 'thousands of millions of jobs' after the COVID-19 pandemic and mentioned that unemployment was at 50%. However, this claim has been met with criticism and skepticism, particularly from former President Donald Trump, who accused Biden of causing the current inflation, which he said is adversely affecting Black and Hispanic families. Trump argued that the economy had already been recovering when Biden took office, citing that inflation was at 1.7%, and that Biden's policies overheated the recovering economy, leading to inflation. The debate highlighted contrasting views on the state of the economy and the impact of the respective administrations' policies. Biden also referenced the Inflation Reduction Act as part of his administration's efforts.