GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re able to read more about oureditorial guidelinesand our products and servicesreview methodology.
Many people often look for someone to blame when their wallets are affected.
Typically, this is the current president.
But how closely is the cost of living tied to the presidency?
And what could another Biden win mean for rising costs of living?
The PCE is calculated by the U.S. Bureau of Economic Analysis.
Bidens Policies and the Predicted Effects on Cost of Living
However, the news isnt all gloomy.
Biden has madesome policy statementsduring his campaign that could affect the cost of living for some Americans.
Medical Costs
Rising pharmaceutical drug costs are one way Americans have been feeling the effects of inflation.
As of February 2024, the Child Tax Credit is under consideration in Congress.
The Child Tax Credit expansion would make it easier for more families to qualify.
This could be helpful for families that have experienced a year of lower income or unemployment.
Biden also wants community college tuition to be free.
However, there is no official timeline for completing these homes.
Interest rates are predicted to remain relatively high under a Biden administration to keep prices down.
The best predictions we can make are based on the current Biden presidency and his campaign promises.
Take out just the deficit spending of the US government and we have hadnegative economic growththe last three quarters.
They must put some of their campaign promises into motion if elected to a second term.
More From GOBankingRates
Share This Article:
