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During the June 27 presidential debate, Trump said Biden was the one who caused the inflation.
He caused the inflation, and its killing black families and Hispanic families and just about everybody.
They cant buy groceries anymore.
They cant, he said, according to a transcript.
Sorens added that further stimulus under Biden in 2021 added another $1.9 trillion in deficit spending.
In turn, he said, the combined deficits for 2020 and 2021 were nearly $6 trillion.
Then theInflation Reduction Act(IRA) in 2022 added over $150 billion more to deficits.
And will in fact add to inflationary pressures and the national debt for years to come, said Goss.
They also took too long to raise interest rates again, believing that inflation was transitory, said Sorens.
But politicians also put them in a tough spot by spending so much.
In addition, geopolitical events are also partly to blame, some experts added.
The blame goes to the pandemic and the Russian war in Ukraine.
Lots of global events beyond either guys control were the catalysts for generally higher prices, said Termini.
However, prior to that, Trumps import tariffs may have added to price pressure, he said.
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