Highest Inflation In 40 Years, Highest Gas Prices Ever, Shortages, And Now A Recession

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Biden Sets Record For Highest Inflation Among Any Elected US President on Record

“At this point in his presidency, Biden has presided over more inflation than any president since Gerald Ford, who took office in 1974,” Joseph H. Sullivan writes in National Review. “But President Ford’s path to the White House was an outlier. He was never elected president or vice president.”

Sullivan notes, “Among elected presidents, Biden has presided over more inflation than any since at least 1948, when data on seasonally adjusted consumer prices from the Bureau of Labor Statistics begin.”

One of the biggest factors driving inflation is federal government spending. In the spring of 2020 — after government imposed lockdowns — the first round of stimulus money printing began to offset income losses by Americans forced to stay home from work. That round of money printing by the Federal Reserve resulted in an increase in the money supply.


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