Trump Backtracks On Campaign Pledge To Bring Down Grocery Prices
www.huffpost.com
The president-elect walked back what was always a wildly unrealistic campaign promise.

Summary

Trump admitted it will be difficult to lower consumer prices, despite campaign promises to reduce grocery, energy, and overall inflation costs.

Trump told Time that achieving price reductions is rare without major economic downturns.

During the campaign, Trump blamed rising costs on Democratic leadership and proposed tariffs as a solution, but economists warn tariffs could raise prices further.

Inflation, a key voter concern, played a significant role in Trump’s election victory, though he has yet to outline a clear plan to deliver on his economic pledges.

  • LifeInMultipleChoice@lemmy.world
    8·
    9 days ago

    I mean I heard someone say yesterday that gas was under a dollar when Trump was President and he was going to bring the price back down to that. Had no concept of why gas prices plummeted for a second there.

    People forget how prices have gone. And you can show anything you want with gas because it is manipulated. Gas prices right now are lower than what they were in 2008. And inflation has risen by 46.5% from 2008-2024.

    Gas price listings for people curious:

    https://www.eia.gov/dnav/pet/hist/leafhandler.ashx?f=m&n=pet&s=emm_epm0_pte_nus_dpg

    So before Obama became president gas was on the rise, went to 3.30 when he got sworn in and stopped inflating at ~4.12 that July. When he left office in February 2017, at $2.44 a gallon.

    So inflation from 2009 to 2017 should have been 14.3%. And gas went down about 26% under Obama.

    Now either that means Republicans love Obama, or gas prices didn’t matter to them as much as they say