08/10/2021
Under Trump, the highest annual inflation rate was 2.1% in 2017-18. Biden has been in office for fewer than nine months, and inflation has risen in the past six months to an astounding 5.7%, according to the U.S. Federal Reserve. The last time the inflation rate surpassed 5.5% was under Carter in the late 1970s and early '80s. Once Reagan was elected to office, he and his administration successfully reduced inflation to around the same rate as it would be under Trump some thirty-ish years later.
During the Reagan administration, the U.S. gross domestic product grew substantially, and between 1982 and 1987, some 13 million new jobs were created. However, Reagan was not without blemish: much of this growth was done through deficit spending, and the national debt nearly tripled during the '80s. Akin to the massive deficit increases of Reaganomics, Trump and Biden have presided over the two highest-spending years since the Second World War--two consecutive years in which the annual deficit has exceeded and is expected to exceed $3 trillion.
The moral of this story is that we need a candidate in 2024 who has the same desire for growth that Reagan had, while also being more conservative in his spending. It might be a lot to ask for, but those characteristics paired with a mild social conservatism is essential in the preservation of our nation as we know it.
