Business
Economic Context for Biden vs. Trump Debate
Explore the economic context surrounding the debate between Biden and Trump, analyzing their policies, impacts on the economy, and potential implications for the future.
President Biden
Credit: Doug Mills/The New York Times
Former President Donald J. Trump
Credit: Haiyun Jiang for The New York Times
Key Economic Topics in the Debate
Many of the issues expected to be at the forefront of the televised debate between President Biden and former President Donald J. Trump revolve around economics. From inflation to immigration, government taxing and spending, interest rates, and trade relationships, the candidates are likely to make bold claims. To follow the debate effectively, understanding the current economic data and latest research is crucial. Here is a breakdown of some of the hot-button economic topics today and the necessary context to be well-informed:
- Inflation Trends:
Inflation surged during the pandemic and its aftermath due to various factors. The injection of over $5 trillion into the economy in response to Covid, initiated by both Trump and Biden administrations, led to increased consumer spending on goods like cars and home gym equipment. This surge in demand for physical products coincided with global factory shutdowns and disruptions in shipping routes, resulting in shortages of various goods. Consequently, prices began rising in 2021 as supply struggled to meet the heightened demand.