Will Trump Squander the Inheritance He Receives From Biden?
President Biden and Vice President Harris’s economic plan rescued us from one of the worst economic crises in American history and delivered the strongest economy in the world.
After decades of trickle-down economics, we’ve written a new playbook that’s growing the economy from the middle out and the bottom up. We’ve helped create over 16 million new jobs, achieved historically low unemployment, and seen a record 20 million new business applications.
Under President Biden’s economic playbook, our economy has created over 16 million new jobs — with jobs created every single month.
President Biden is presiding over a manufacturing and construction boom — with 1.6 million new jobs created in manufacturing and construction.
And I believe the economy I am leaving America is the best in the world and stronger than ever for all Americans.
(The above are posts from the Biden Administration.)
Biden is the second Democratic president who has handed off a strong U.S. economy to Donald Trump. Trump is the luckiest president in history. Trump squandered his inheritance from Obama in 2020 when he blew the response to the pandemic. Is Trump going to break it this time with massive deficits, high tariff walls and mass deportations?
If Trump leaves things alone, he can just coast. We would all be better off if he went golfing for the next four years. Unfortunately, Trump isn’t willing to leave well enough alone. Instead, he has an economic agenda that if implemented, will squander the inheritance he received from the Biden-Harris administration.
Despite the economic progress we’ve experienced since Biden took office, many voters were dissatisfied due to inflation. As a consequence, the central issue in the recent election was the rise in prices since the pandemic.
Even though Biden had almost nothing to do with this world wide problem, the voters punished Harris for the inflation we’ve experienced since 2021. As a matter of fact, inflation has been an incumbent killer in elections around the globe. Approximately, 80% of incumbent governments lost elections in 2024 due to voter disenchantment with the economy and inflation.
Trump made a number of grandiose and unrealistic promises about what he would do about inflation. We need to hold him to those promises. I’m keeping the receipts.
Trump in Asheville in August: “From the day I take the oath of office, we will rapidly drive prices down, and make America affordable again”
September promise: “Vote Trump, and your … grocery prices will come tumbling down.”
“Prices will come down. You just watch. They’ll come down and they’ll come down fast. Not only with insurance, with everything.”
“Prices will come down and come down dramatically and come down fast,” he said.
Trump in October: “This will rapidly drive prices down […] It’ll also bring your grocery bill way down.”
Trump in October promised to bring prices down and posted on Truth Social that “it will happen fast.”
“We will end inflation and make America affordable again, and we’re going to get the prices down, we have to get them down,” Trump said at a rally in September. “It’s too much. Groceries, cars, everything. We’re going to get the prices down.”
“We will cut your taxes and inflation, slash your prices, raise your wages and bring thousands of factories back to America,” Trump said at a Georgia rally in October, reciting a line he used in speeches at several other events.
Trump also specifically promised to get gas prices down: “I will cut your energy prices in half within 12 months.”
Trump on Sept. 23: “Vote Trump, and your incomes will soar. Your net worth will skyrocket. Your energy costs and grocery prices will come tumbling down.”
Donald Trump, Nov. 4, 2024: “A vote for Trump means your groceries will be cheaper.”
Trump is now trying to walk back these unrealistic promises on inflation. Trump told NBC’s Kristen Welker he “couldn’t guarantee” that his tariffs wouldn’t raise prices. “It’s hard to bring things down once they’re up,” Trump told Time Magazine in an interview for its “Person of the Year” feature. “You know, it’s very hard.”
I plan to hold Trump accountable for these disingenuous promises. You will be hearing about them again and again in this space. I’m keeping the receipts. Please join me in doing so.
It’s time for the Democratic Party to end its soul searching and self flagellation. We have a good message and we narrowly lost due to voter unhappiness with inflation. There is always room for improvement in our messaging but there is no need to continue beating ourselves up.
Republican get mad when they lose an election and Democrats gets sad. I’m angry and deeply determined. My rage is incandescent.
History clearly demonstrates that it is always premature to write the political obituary of a political party shortly after a disappointing defeat. No majority is ever permanent in nature. 11 out of the last 13 elections have been change elections. The party occupying the White House has changed in the last 3 elections.
“Right now Trump is busily flooding the zone, threatening people, making it seem as if he is a juggernaut who can’t be stopped and any opposition is impotent. That’s just not true. Yes, he has the trifecta and he’s threatening any of his own party who might stand in his way. But there is no reason for people to make it easy for him. Anyone in a position to do so should delay everything they can, fight on any front, and make him work for every single abuse he’s planning to inflict.” Heather Digby Parton
There will be millions of disappointed and angry soft Trump voters next year. The comeback begins in 2025 with the city elections in Omaha and Lincoln. Resist! Organize! Vote! Blue Wave 2026!
P.S. — You’re going to want to save this post for when Trump and his propaganda machine try to rewrite history.