Graphs comparing household wealth gains under Presidents Trump and Biden that factored in inflation are gaining attention on social media.
Data from the Federal Reserve showed household net worth rose 23% under Trump and 19% under Biden in their first three years.
However, when adjusted for inflation, the gains were 16% under Trump but just 0.7% under Biden.
These graphs illustrated the significant impact of inflation in erasing wealth growth under Biden.
The difference sparked reaction from commentators like Clay Travis and polls show inflation remains the top financial concern for many Americans.
“This is the difference between the Trump and Biden presidencies — inflation has destroyed everything, we all have less than we did before Biden entered office,” OutKick founder Clay Travis said.
“As Biden camp gropes for answers, this is all you need to know … about the president’s struggles with every demographic,” CNN political commentator Scott Jennings said.
“My goodness,” podcast host Saagar Enjeti wrote onnline.
With the 2024 election approaching, both Trump and Biden are campaigning while these economic comparisons relating to inflation under each administration continue to circulate online.
