Gas prices:

While gas prices held steady under Pres. Donald Trump (down four cents a gallon), they've surged 63% in the first 31 months of...Joe Biden's term. From January 2021 to August of this year, the average price of a gallon of gas (all grades) has increased from $2.42 to $3.95, according to the U.S. Energy Information Administration.

Real Wages:

After accounting for inflation, real wages earned by Americans have declined under Biden. In the first quarter of 2021, median weekly real earnings averaged $373. But, by the second quarter of this year, average real earnings had fallen to $365. (Image: via MRCTV)

Under Trump, however, real wages rose from $352 on January 1, 2017, to $373 on January 1. 2021.

Real wages are calculated using Bureau of Labor Statistics (BLS) median usual weekly earnings for full-time employees at least 16 years old and are represented in terms of quarterly 1982-84 Consumer Price Index (CPI) seasonally-adjusted dollars.

Consumer Price Index:

Consumer prices rose 7.6% in the 48 months of the Trump Administration, from a CPI of 243.618 in January 2021 to one of 262.035 in December 2020. (Image: via MRCTV)

In contrast, prices have already risen more than twice as much, 16.6%, in just 31 months under Biden. Less than two-thirds of the way through his term, the CPI has risen from 262.650 in January of 2021 to 306.269 last month (August 2023), putting it on pace to increase more than three times as much as it did during Trump's full, four-year term.

Mortgage Rates:

It's also costing far more to finance a home purchase, under the Biden Administration. (Image: via MRCTV)

Mortgage rates today are more than twice the average rate home buyers paid when Trump left office, Freddie Mac data reveal. Under Biden's predecessor, the average 30-year fixed mortgage rate fell by a third, from 4.09% to 2.77%. But, by September 7, 2023, mortgage rates had more than doubled, increasing by more than four percentage points, to 7.12%.

Savings Rates:

With Americans earning less and spending more, their average savings rate has declined under Biden. (Image: via MRCTV)

From February 1, 2017 to February 1, 2021, the average personal savings rate increased 86%, from 7.2% to 13.4%. But, byJuly 1of this year, it had plummeted to 3.5%—a mere quarter of its pre-Biden level—according to Federal Reserve Bank of St. Louis (FRED) calculations, incorporating BLS data. Subscribe for free to Breaking Christian News here

The business and economic reporting of CNSNews is funded in part with a gift made in memory of Dr. Keith C. Wold.

To receive daily emails from Breaking Christian News to your inbox CLICK HERE

'Get Him!': Watch as Brave Man Rescues Portion of American Flag Being Burned by 'Pro-Hamas Agitators' [Video]

A Growing Global Movement of Parents Is Keeping Their Kids Free from Smartphones

Democrat Downplays That Bill Would Cost Trump His Secret Service Detail

Teacher's Union Accused of Laundering $1.5 Million to Bankroll Dem Governor Josh Shapiro's Campaign

Dan Bongino: 9 Reasons to Vote for Kamala Harris

New Comms Director for Kamala Harris Campaign Wants to Pack the Supreme Court and Defund the Police

Pro-Life Protester Sentenced to More Than 3 Years Behind Bars for Blocking Abortion Clinic

Ben Carson Gives Perfect Defense of Pro-Life Position and Much More, in Powerful Tucker Carlson Interview [Watch]

Pastor Faced Death Threats, Had to Go into Hiding after Revealing Political Beliefs: 'I Reject the Victimhood Mentality'

'Hey Mom, I'm Trans!': The Truth About the Gender Dysphoria Deception, from a Mom in the Middle of It

These Important Election Integrity Initiatives Might Be on Your 2024 Ballot

Harris Campaign Admits to Misleading Voters on Trump, Project 2025

Pro-Harris Media Scrambles to Erase 'Border Czar' from Her Resume as GOP Highlights Her Record

House Republicans Raise American Flags at Union Station in DC after Chaotic Protesting Hamas Supporters Took Down and Burned Flags

Netanyahu Hails Israeli-US Bond, Reminds Protesters Israel the 'Land of the Bible' for 4,000 Years

'Influencing the Culture': Megachurch Equipping Churches to Mobilize Voters Ahead of November Election

Pray: Elderly Trump Supporter Run Over in Front Yard

Elon Musk Says AI Must Be 'Pro-Human,' Is Alarmed by Technological Developments

The Man and the Motive: Behind Musk's War on the 'Woke Mind Virus,' and Why He Fights for Children

Alberta Premier Danielle Smith Promises Bill Protecting Rights to Refuse Vaccines Is Coming