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And as the chart above shows, Americans — a crucial segment of whom voted for Trump because they believed his fabulist promises to bring prices down “on Day One” — are now saying that the Biden economy was better than the Trump II economy. [] Let me address three issues in particular: Purchasing power, inequality, and the labor market. Purchasing power: Biden had the misfortune of being president when there was a large jump in prices, a jump that was out of his control and happened around the world. This came as a shock to Americans after decades of low, stable inflation This price jump clearly depressed consumer sentiment. However, it’s often asserted that the jump in prices from 2021 through 2022 left most Americans substantially poorer. And that just isn’t trueUsing the eve of the pandemic as a baseline, we see that large increases in consumer prices were more than matched by large increases in wages: Aaaaand he says that thing that nobody wants to hear when they are pointing out that people were hurting nonetheless: [T}hroughout the past 5 years many millions of Americans