"The speech itself, delivered at a breathless pace amid Christmas decorations in the White House's Diplomatic Reception Room, saw Trump blame his Democratic predecessor, former President Joe Biden, for high prices, immigration, and crime, as well as insist his administration had already turned the economy around. Eleven months ago, I inherited a mess, and I'm fixing it, he told viewers, as Republicans brace for what is expected to be a difficult midterm cycle."
"Dale dismantled the economic claims almost line by line. Trump's assertion that inflation has stopped was wrong, he said, noting: it's 3%. In fact, September, that 3% rate, was the fifth consecutive month inflation had increased. Trump's suggestion that he inherited the worst inflation in the history of the country also failed basic scrutiny. Again, he inherited 3% inflation in January, Dale said, adding that even the Biden-era peak was about a 40-year high, not a 48-year high, nowhere close to the all time high of more than 23%."
The holiday address featured rapid delivery amid White House decorations and blamed President Joe Biden for high prices, immigration, and crime while claiming the current administration had fixed the economy within eleven months. Claims included that inflation has stopped, that inflation inherited was the worst in history, that prescription drug prices were cut by 400–600%, and that prices broadly were falling rapidly. Economic data show inflation near 3% in September and rising month-to-month, with the Biden-era peak about a 40-year high, not 48, and far below historical all-time highs. A 400–600% cut is mathematically impossible; many grocery and consumer prices have increased.
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