Former US President Donald Trump has accused President Joe Biden of causing economic hardship for Americans through his policies. According to Trump, Biden’s handling of the economy has led to significant inflation, making life difficult for many.
Trump asserted that Biden has mismanaged the US economy, resulting in disastrous inflation rates. He highlighted that the increasing cost of living is a direct consequence of Biden’s poor economic decisions.
These statements were made by Trump during a presidential debate hosted by CNN in Atlanta, Georgia, in the early hours of Friday. The debate provided a platform for Trump to voice his concerns about the current state of the US economy under Biden’s administration.
Trump emphasized that the issues of rising prices and increased cost of living are critical topics as the November presidential election approaches. He argued that these economic challenges are at the forefront of voters’ minds and will play a significant role in their decision-making process.
In his critique, Trump stated, “He has not done a good job. He’s done a poor job. And inflation is killing our country. It is absolutely killing us.” He pointed out that the current inflation rates are detrimental to the country’s economic health.
Trump claimed that he handed over a robust economy with low inflation to Biden. He argued that the economy was in excellent condition when he left office and that Biden’s policies have since caused significant damage. “I gave him a country with essentially no inflation. It was perfect. It was so good, all he had to do was leave it alone. He destroyed it,” Trump remarked.
The discussion also touched upon the actions of the US Federal Reserve, which has increased its key lending rate from nearly zero to a two-decade high of between 5.25 and 5.50 percent. This rate hike, which has been maintained over the past year, is aimed at cooling down the economy by making borrowing more expensive. The increase affects various aspects of the economy, including mortgage rates and auto loans, indirectly contributing to the overall economic burden on consumers and businesses.
