Originally Posted by Jim Moscheck
Neither Biden, or Trump, or any of their predecessors were the reason why the price of gas has fluctuated. You guys give them too much credit. It is market forces, supply, and demand which dictate prices, not the current president. Yes, policies can have a little effect, but not like you guys are suggesting.
OPEC cut output during the pandemic when the economy slowed and have been reluctant to increase production even though demand has increased which in turn raises prices. It's not rocket science.
If you want to give credit to a president even though he personally had little to do with it how about the fact that in his first ten months of the Biden administration there is a net of +5,000,000 jobs created, more than Trump, W., and GHWB combined over their full terms.
True enough. Additionally:
"... the unemployment rate is 4.2 percent, down by a historic 2 full percentage points since President Biden took office."
"Prior to the American Rescue Plan, CBO estimated that the U.S. would not have a 4.2 percent unemployment rate until the end of 2024. So, this gives you that chart, just to give you a sense of exactly what the CBO projections were and how much more quickly we move to that unemployment rate."
"After the Great Recession, it took nine years for the United States to reach a 4.2 percent unemployment rate — just to give you a sense."
"Wages are also up. And thanks to the American Rescue Plan, the President and Congressional Democrats delivered significant tax cuts for families raising kids."
"On average, Americans have about $100 more in their pockets each month than they did last year, even accounting for higher prices. The United States is the only leading economy in the world where household income and the economy are stronger than they were before the pandemic."
https://www.whitehouse.gov/briefing-room/press-briefings/2021/12/03/press-briefing-by-press-secretary-jen-psaki-december-3-2021/
Furthermore:
"US wages jump by the most in records dating back 20 years"
https://apnews.com/article/business-wages-salaries-increase-8ce98ea3bcc14c4810eb5a1111e1df49