Republicans will tell you Biden is.
Mark Zandi, a respected economist (bio here), breaks it down in the chart at left.
Isn’t it obvious this is all Biden’s fault? Let’s go through it item-by-item.
Russian invasion of Ukraine
That’s 3.5% right there, and Biden admits it contributed to high gas prices (story here).
The war is causing food prices to soar, too (story here). And we’re probably stuck with high gas and food prices for the next three years (story here).
It didn’t need to happen this way. If Biden had allied with Putin instead of NATO, and helped him reduce Ukraine to rubble, we’d be swimming in cheap Russian oil and stolen Ukrainian wheat, and the war probably would be over.
The pandemic
Another 2.0%, and this is Biden’s fault, too! If he and his Democratic cronies had left things alone, it would’ve burned itself out by now, without the lingering economic side effects of excess demand from millions of saved lives.
Affordable housing crisis
Housing prices are screamingly high because there aren’t enough houses to go around. If Biden and his cronies hadn’t messed with Covid-19, there wouldn’t be so many survivors, and there’d be enough houses to go around. Maybe even empty houses free for the taking.
American Rescue Plan
That $1,400 check you got? The extended unemployment benefits? And child care credits? All his fault! Biden, and nobody else, shoved this through Congress. Republicans did their best to stop it, but were steamrollered. Result? Another whopping 0.1% of inflation!
Energy regulation
You’ve heard about Biden’s crazy notion of saving the planet, right? By shutting down oil wells, closing refineries, and nuking Charleston Harbor (more details here) to halt oil imports, he and his cohort gave us another 0.0% of inflation.
Money supply
Everyone knows printing money causes inflation. That’s why we’ve had incredibly high inflation since 2008 when the Federal Reserve began money so the economy wouldn’t collapse. By 2020, there was so much money sloshing around the government even sent some of it to us when the pandemic hit!
Why is Biden responsible for this? Because he reappointed Trump’s Federal Reserve boss, Jerome Powell, the guy who’s been printing money since 2017, after taking over from Bernanke, the guy who printed us out of another Great Depression. Biden could’ve replaced Powell with a different money printer, but didn’t, and that added another 0.0% to inflation.
Corporate price gauging
This is Biden’s fault, too, because he was president when they handed out the price gauges to the corporations. This resulted in another 0.0% of inflation.
Other
This one’s a biggie — 2.3% of the total! In 2020, when voters looked at their ballots and saw “Trump” or “Other,” they voted for “Other.” Well, who’s calling the shots now? “Other” is! So don’t blame Trump and the Republicans for shutting down refineries in 2020, sending you more relief checks on top of Trump’s relief checks, preventing further Covid-19 population reduction, or refusing to buy Russian oil.