While speaking at the Minnesota Republican Party’s annual Lincoln Reagan Dinner on Friday evening, former President Donald Trump blasted Bidenomics, rising inflation, and the high cost of groceries.
“Groceries are up 22 percent, eggs are up 50 percent, electricity’s up 40, 50, 60 percent, gasoline is up 56 percent, car insurance — you can’t even get it,” Trump said. “It’s up 52 percent if it’s available, and then if you need it, they don’t give it to you. They fight you like hell. And, meanwhile, real wages are down by almost five percent. This is what we have. This is Bidenomics.”
Trump continued to describe inflation as being a “country buster” and added that inflation under the Biden administration has led to “millions of Americans” not being able to afford to buy cars, homes, or pay their rent.
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“His inflation catastrophe is, in effect, a colossal tax on American families. We will call it the ‘Biden Inflation Tax,’” Trump added. “It’s the biggest tax in history. It’s called an inflation tax. It’s about 50 percent. This is like going to Congress and raising your hand for a 50 percent tax — that’s what it is. When I left office, and we had virtually no inflation we had nothing, only success.”
Within the past few weeks, President Joe Biden has falsely claimed twice that inflation was at nine percent when he took office in January 2021. When Biden entered office, inflation was at 1.4 percent.
Trump added that the “Biden price hikes are continuing to drain $1,165 dollars from the typical Minnesota family budget every single month.”
“These numbers are staggering, and you know, somebody got a little bit of a wage increase, it doesn’t matter because the prices have gone up so much,” Trump added. “It’s a sad thing.”
Trump continued: “One of the most vicious effects of the Biden Inflation Tax is how Crooked Joe has made it impossible for millions of Americans, especially young Americans, to buy a home, a car, or even make their rent. Young Americans are getting out of high school and getting out of college and it’s a disaster for them.”
In April, the Consumer Price Index (CPI) rose o.3 percent, an increase from the previous month. Data from the Department of Labor found that compared to a year ago, prices were up 3.4 percent.
This came after the CPI rose 0.4 percent in March compared to the previous month and was up 3.5 percent compared to the previous year.
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