Opinion: Check the facts before blaming Joe Biden for inflation, national debt increase [Opinion]
” : I know it is very convenient for Republicans to blame the Democrats for the current state of debt and inflation, and I’m sorry to mess up a good story with a few facts, but inflation doesn’t happen overnight.2 to 3 percent
of GDP. When Trump left office budget deficits were estimated at $13.9 trillion, $3.9 trillion higher than the inherited projection. His legacy is reduced revenues due to a big tax cut for the rich, record spending, the largest peacetime deficit of any president in history, and a national debt thatExcessive cash in the money supply created an overheated economy. This coupled with reduced supply, due to the world pandemic, created inflation.
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