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Gas peaked at over $5 for the first time ever in June 2022. When adjusted for inflation, Trump’s average is $3.18 in 2024 dollars, 21% less than Biden’s inflation-adjusted price of $3.86.
Gasoline prices have risen 48% during Biden's term, not 63%. Experts say the increase was largely independent of Biden's policies.
Under Biden, GDP growth has been notable despite initial concerns about a potential recession due to high inflation and rising interest rates. In 2021, the GDP grew by 5.8%, driven by a strong ...
The economic policy of the Joe Biden administration, colloquially known as Bidenomics (a portmanteau of Biden and economics ), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals ...
Harris will also draw contrasts with Trump on tax policy and tariffs, and maintain Biden's promise not to raise taxes on people who make $400,000 or less a year, advisers said.
A person takes photographs of gas prices above $6.00 and $7.00 a gallon at a Shell gas station in Los Angeles on March 8, 2022. (Photo by Patrick T. FALLON / AFP) (PATRICK T. FALLON via Getty Images)
No, Biden didn’t admit to plotting to make gasoline prices high
From the time Biden took office until Russia invaded Ukraine on Feb. 24, gas prices rose from $2.40 per gallon to about $3.50. That 45% increase had nothing to do with Putin.