President Biden demonstrated again last night that he is completelyand unprepared to discuss the nation’s economic challenges., so it was natural that the CNN moderators of last night’s debate led off with a question on inflation. Yet Biden seemed to be taken by surprise by the question, unprepared for what should have been the most practiced line of inquiry during his debate preparation sojourn at Camp David this week.
Tapper’s question was well-stated. The consumer price index for “food at home”—known as groceries to those of us who do not work in the Bureau of Labor Statistics—isthe biggest increases over a similar time period since the early 1980s. Home prices have soared.. Polls routinely find that more than forty percent of Americans say the economy is worse now than when Trump was in office, with half as many saying it has improved.
In the third quarter of 2020, the economy grew at a 34.8 percent annual rate. In the fourth quarter, it grew 4.2 percent.The economy was not in a free fall but had been ascending into orbit at escape velocity for three consecutive quarters.
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