The unemployment rate at the end of 2019 was 3.5 percent; today, it is 3.6 percent. The deficit for 2019 was slightly under $1 trillion; the projected deficit for 2022 is slightly over $1 trillion. The DJIA at the end of 2019 stood around 28,500; today, it is at 32,500. The Fed discount rate was 1.55 percent at the end of 2019; today, it is 2.5 percent.
In addition, the Trump tax cuts have not been repealed, the additional spending on social programs (with a few exceptions) in the pandemic relief bill have expired, and Trump’s tariffs are mostly still in place. In short, with one glaring exception, today’s economy is the GOP holy grail–the pre-pandemic Trump economy. The exception, of course, is inflation.
This proves two things. First, Biden’s policies can’t possibly be primarily responsible for the current level of inflation if they are effectively the same as Trump’s. This is, of course, confirmed by the data from the UK and the EU. Second, the GOP doesn’t have any plausible ideas for dealing with either inflation or slowing growth, since they are already getting what they want. All they really wanna do is have some fun bitching about the economy for opportunistic reasons.