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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.
In January 2021—the final month of Donald Trump’s presidency—the U.S. Consumer Price Index (CPI) rose by a 1.4 percent annualized rate, compared to 3.2 percent in February 2024 under the ...
Under Trump, the U.S. economy expanded by approximately 2.6% annually in his first three years. However, in 2020, the economy contracted by 2.2% due to the pandemic.
Former President Trump supports drilling for oil and gas on federal lands, tax cuts for oil companies and other programs that could decrease energy costs in the short term.
In addition, Trump would like to lower the corporate tax rate to 15% from the 21% set by the 2017 tax cuts – though he acknowledged in an interview last month with Bloomberg Businessweek that ...
Writing in The Washington Post, Phillip Bump explained that for Trump's first term as of September 2019, performance on several key variables was comparable or below Obama's second term (January 2013 – September 2016), as follows: 1) Real GDP was up 7.5% cumulatively under Obama, versus 7.2% under Trump; 2) The total number of jobs was up 5.3 ...
Through Biden’s presidency so far, gas prices have averaged $3.61. That’s 40% higher than gas prices during Trump’s entire term and 35% higher if you exclude the COVID period. Even adjusting ...
Inflation fell to below 3% for the first time in nearly 3 1/2 years in July, the Labor Department said on Wednesday, but high prices of groceries and consumer goods remain well above their pre ...