Blaming Biden-Era Policies for Current High Prices and Inflation
Source: Jeffrey H. Anderson. "Blame (Mostly) Biden For High Prices." August 18, 2026. thefederalist.com
The Gist
This article argues that today's high prices are mainly Biden's fault because his administration's pandemic lockdowns and massive government spending flooded the economy with money, causing prices to skyrocket. The author says Trump's more modest inflation numbers prove the point, though he acknowledges Trump still needs to cut spending and encourage more market competition to fully fix the problem.
Conclusion
The current high prices Americans face are mostly attributable to Biden-era policies (pandemic lockdowns and excessive deficit spending), not the Trump administration, though Trump still needs to address remaining inflationary pressures and market consolidation.
Premises
- Prices have risen dramatically since 2020, with cumulative price increases in the past 6 years exceeding those of the previous 14 years combined (BLS data).
- Inflation rose from 1.4% when Biden took office to a peak of 9.1%, with a 5% average annual rate across his term—the highest in 45 years.
- The dollar's value fell from $100 to $82.34 during Biden's four-year term, the worst decline since Carter.
- Covid lockdown policies disrupted supply chains while unprecedented federal spending ($6.5-6.8 trillion in 2020-2021, including $1 trillion from the American Rescue Plan Act) flooded the economy with excess currency, driving inflation via basic supply-demand economics of money.
- By contrast, inflation under Trump's second term has stayed mostly under 3%, peaking at only 4.2% in one month—less than half of Biden's peak.
- Continued high federal spending and debt ($40 trillion national debt, over $1 trillion annually in interest payments) remains a structural problem requiring fiscal restraint.
- Market consolidation and reduced free-market competition (e.g., potential airline mergers, oligopoly concentration) further harm affordability and require policy attention.
Assumptions
- Increases in money supply relative to goods/services is the primary driver of inflation (a monetarist economic assumption).
- Inflation rates during a president's term can be fairly attributed primarily to that president's policies rather than lagging effects of prior policies, global market conditions, or Federal Reserve actions.
- The Covid lockdowns were 'senseless' policy choices rather than necessary public health responses, implying they were avoidable causes of economic disruption.
- Reduced regulation and market decentralization will reliably lower prices, assuming competition naturally drives costs down without significant countervailing effects.
- Comparing raw inflation percentages across different economic contexts (post-pandemic recovery vs. wartime tensions with Iran) is a valid basis for attributing responsibility.