New CPI Numbers Show President Biden’s Bidenomics Agenda Boosting Hardworking Families After MAGAnomics Failed Them

In response to today’s CPI report, DNC National Press Secretary Sarafina Chitika released the following statement:

“Today’s CPI report is the latest proof that President Biden is delivering for hardworking families as he continues to lower costs and grow the economy from the middle out and the bottom up. Thanks to the president’s leadership, inflation is down by nearly two thirds from its peak, costs of necessities like gas and eggs are falling, and inflation-adjusted wages are higher than before the pandemic. While MAGA Republicans are focused on lining the pockets of the ultra-wealthy and big corporations and fighting tirelessly to gut Social Security and Medicare, President Biden and Vice President Harris are determined to finish the job and continue lifting up working families.” 

NEW: Today’s CPI report shows that inflation eased in November, another clear sign that Bidenomics is growing the economy.

CBS News: “Inflation eased in November as gas prices fell”

Business Insider: “Inflation slows again as gas prices tumble to earth”

CNN: “Inflation is slowly coming down and no longer outweighing Americans’ wages”

Peter Baker, New York Times: “Inflation ticked down to 3.1% last month, far below its peak last year.”

Bidenomics is growing the economy from the bottom up and middle out and lowering costs for working families — under President Biden, the U.S. has seen unprecedented job growth.

Bloomberg: “US Payrolls Rise 199,000; Jobless Rate Drops to 3.7%”

The Hill: “President Biden’s reelection campaign said the president is cleaning up the economic disaster left behind by former President Trump, hailing the strong jobs report released Friday. Labor Department data showed the U.S. economy added 199,000 jobs in November, and the unemployment rate fell to 3.7 percent, which was above economists’ expectations.”

GasBuddy Head of Petroleum Analysis Patrick De Haan: “BREAKING: According to GasBuddy data, the median U.S. gas price has *just* fallen to $2.99 per gallon for the first time since 2021! More than half of U.S. gas stations are below $3!”

Meanwhile, Trump’s MAGAnomics agenda left him with the worst jobs record in modern American history.

Fortune: “Trump to leave office with the worst jobs record since Herbert Hoover”

Washington Post: “President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.”

Bloomberg: “Trump’s Jobs Record Fell Short of Promises Even Before the Virus”

Trump created an economy that prioritized the ultra-wealthy and large corporations at the expense of America’s middle class — while running up the deficit. 

Washington Post Analysis: “One of President Donald Trump’s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump’s time in office.”

Washington Post Analysis: “The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center.”

Politico: “The nation’s fiscal outlook looks ever bleaker, thanks in part to deficit spending during President Donald Trump’s first term, Congress’ nonpartisan budget scorekeeper projected Tuesday.”

Trump’s reckless trade policies created new incentives for big corporations to ship hardworking Americans’ jobs overseas. 

Brookings: “So over the years of the Obama administration there was a gradual recovery in manufacturing jobs and hours worked. Trump managed to destroy that through his ill-advised tariff tantrums in a short two years and put manufacturing into a recession.”

Bloomberg: “Another signature Trump policy, the trade war with China, actually hurt some of the manufacturers and farmers it was supposed to help. The Tax Foundation estimates if tariffs remain, 179,800 full-time equivalent jobs could be lost.”
Washington Post: “U.S. manufacturing was in a mild recession for all of 2019, according to data released Friday by the Federal Reserve.”