Speaking at the Minnesota Republican Party’s annual Lincoln-Reagan Dinner on Friday night, former President Donald Trump slammed Bidennomics, rising inflation and high food prices.
President Trump: “Groceries are up 22%, eggs are up 50%, electricity is up 40, 50, 60%, gasoline is up 56%, you can’t buy car insurance.” Said. “You get 52% more when you get it, but you don’t get it even when you need it. They fight you like hell. And on the other hand, real wages are down by almost 5%. This is what we have: bidenomics.”
President Trump continues to describe inflation as “national destruction” and says inflation under the Biden administration is leaving “millions of Americans” unable to buy cars, homes or pay rent. added.
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“His inflationary catastrophe is effectively imposing a huge tax on American families. We’re going to call it the ‘Biden inflation tax,'” President Trump added. “This is the biggest tax in history. It’s called the inflation tax. It’s about 50 percent. This is like going to Congress and raising your hand for a 50 percent tax. That’s what it is. . When I left office, there was little inflation, nothing, but only success.
President Joe Biden has twice falsely claimed in the past few weeks that the inflation rate was 9% when he took office in January 2021. When President Biden took office, the inflation rate was 1.4%.
“Biden’s price increases continue to drain $1,165 a month from the typical Minnesota household,” Trump added.
Trump added: “These numbers are staggering. Someone raised wages a little bit. It doesn’t matter because prices have gone up so much.” “That’s sad.”
Trump continued, “One of the most pernicious effects of the Biden inflation tax is that Crooked Joe will make it difficult for millions of Americans, especially young Americans, to buy a home or a car, or even pay rent.” We’ve made it impossible for young people in America to even pay their bills. They’re graduating from high school, they’re graduating from college, and that’s devastating for them.”
The consumer price index (CPI) rose 0.3% in April, an increase from the previous month. Prices rose 3.4% compared to a year ago, according to Labor Department data.
This comes after the CPI in March increased by 0.4% from the previous month and by 3.5% from the previous year.
