>> Continued From the Previous Page <<
Democrats spent years acting shocked that Americans were panicking over grocery bills and rent hikes. But according to Bessent, the Biden-Harris administration helped manufacture those price spikes by lighting the economy on fire with reckless policies.
He walked viewers through what really happened behind the scenes:
“So demand shock and supply constraint, that’s the recipe for this inflation,” Bessent continued.
That “recipe” wasn’t an accident. It was government-engineered.
Biden kicked off his presidency by blasting $1.9 trillion into an already-recovering economy through the American Rescue Plan. Economists warned that dumping that kind of money into a hot economy would send prices soaring.
Biden didn’t listen.
Democrats rubber-stamped it anyway, acting as though warnings were conspiracies instead of economic reality.
Later, top researchers confirmed what Americans already suspected. MIT found that the massive deficit spending fueled 42% of the inflation families endured. Another study from the London School of Economics showed the fiscal explosion used in 2021 accounted for about a third of the price surge over the next two years.
The result was brutal. Between 2021 and 2023, inflation hit its highest levels in four decades — blasted all the way to 9.1%. Everyday Americans felt it immediately. What cost $1 in early 2021 now costs $1.20. Household incomes took a hit while prices kept climbing.
Then Bessent drew a sharp contrast that Democrats absolutely did not want highlighted.
“President Trump, now and during his first term, you get a demand shock from the private sector, but you deregulate and then you can go back to the non-inflationary growth,” Bessent explained.
He’s right. Under Trump, inflation stayed stable — just 1.9% on average — while real GDP climbed at 2.6% annually. Jobs grew. Wages rose. Families weren’t suffocating every time they walked into a grocery store.
Trump didn’t drown the economy in Washington spending. He unleashed the private sector and cut unnecessary red tape. Biden did the opposite: trillion-dollar spending sprees and regulation stacked on regulation.
Even the so-called Inflation Reduction Act — marketed like salvation — added $110 billion in new spending and tens of billions more in deficits.
According to Bessent, the administration’s policies are finally reversing the inflationary storm Biden left behind.
“My prediction is the first quarter, second quarter, what we are going to see is we have brought the inflation down,” Bessent said. “It is curving down and real income, the other side of that equation is real income growth.”
He pointed to mortgage rates tumbling from 7.8% on Inauguration Day to 6.22%, calling it “the single biggest component of buying a new home” and “a gigantic drop.”
Energy costs are easing. Interest rates are cooling. But all of it takes time because Democrats dug the hole so deep.
Trump has a plan focused on private-sector strength, deregulation, and growth. Democrats only know one move: spend more and blame “corporations.”
But the public isn’t fooled.
They watched who caused the crisis — and they see who’s cleaning it up.
Trump delivered stable growth once, and voters believe he can do it again.
