Biden should give a farewell speech borrowing a line from Nixon's farewell speech, "you don't have
Biden to kick around any more, because, gentlemen, this is my last press conference." Then add the following to his speech.
Quote:
Trump based his 2024 campaign on an seductive promise: He’ll bring prices down. Alas, it is virtually impossible to reduce prices; the overall level of prices almost never falls unless an economy is really sick (as it was during the Great Depression, the last time we saw widespread deflation). The best that economists generally hope for is for growth in prices to slow and for prices themselves to more or less plateau. This is already happening for some consumer products, such as groceries.
However, none of this is intuitive to non-economists. And Trump has taken advantage.
Only after winning last month did Trump fess up, belatedly acknowledging he can’t bring prices down. “I’d like to bring them down,” he told Time magazine. “It’s hard to bring things down once they’re up. You know, it’s very hard.”
Got that? There was no plan, there is no plan, and there was never going to be any plan to reduce prices. The only thing surprising about this admission is that he said it out loud.
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https://www.washingtonpost.com/opini...sen-inflation/