Biden's Policies Are Primarily Responsible for Runaway Inflation, Not Trump's
Source: Jeffrey H. Anderson. "Blame (Mostly) Biden For High Prices." August 18, 2026. thefederalist.com
The Gist
The author argues that today's high prices are mainly Biden's fault because his administration oversaw record government spending and COVID lockdowns that flooded the economy with money while limiting the supply of goods, causing prices to skyrocket. He acknowledges Trump still needs to rein in spending and corporate consolidation, but insists the data shows Biden's policies caused far worse inflation than anything happening now.
Conclusion
The high prices Americans currently experience are mostly attributable to Biden-era policies (excessive spending and COVID lockdowns), not the Trump administration, though Trump's administration still has work to do on fiscal restraint and market competition.
Premises
- Inflation under Biden reached 9.1% at its peak and averaged 5% annually over his term, the highest for any presidential term in 45 years
- Prices increased more from 2020-2026 (six years) than they did from 2006-2020 (fourteen years), showing an abnormal acceleration
- The value of $100 fell to $82.34 during Biden's four years, one of the largest drops in modern presidential history
- Federal spending broke all prior records in 2020-2021, with deficit spending in those two years exceeding the combined deficits of 1947-1989 even adjusted for inflation
- Increased money supply relative to goods and services (per monetary theory) directly causes price increases
- COVID lockdowns disrupted supply chains and reduced the supply of goods, compounding inflationary pressure from excess spending
- Inflation under Trump's second term has been substantially lower (mostly under 3%, peaking at 4.2%) compared to Biden's peak of 9.1% and average of 5%
Assumptions
- Government spending and money supply increases are the primary drivers of the inflation experienced since 2020, rather than global supply chain disruptions, energy price shocks, or corporate pricing behavior
- Comparing inflation rates strictly by presidential term is a valid method for assigning causal responsibility for economic outcomes
- The lagged effects of monetary/fiscal policy (i.e., spending in 2020-2021) can be cleanly attributed to the president in office at that time rather than shared with prior/future administrations or Congress
- BLS/CPI data accurately captures the real-world cost-of-living changes experienced by ordinary Americans
- Market consolidation (mentioned as a secondary cause) is distinct from and less significant than fiscal/monetary policy in driving inflation