Five Economic Facts Legacy Media Don't Want You to Know
Craig Bannister : Oct 2, 2026
MRC Newsbusters
When it comes to the cost of a gallon of gas (regular), the all-time high was set on June 13, 2022 during Biden's presidency, when it hit $5.11, according to the US Energy Information Administration. As of Tuesday, the highest price during either of Trump terms in office was $4.63, reached on May 11, 2026.
[Newsbusters.org] Biased legacy media are prone to report the news that supports their liberal narratives, and ignore news that doesn't, particularly when it comes to the health of the nation's economy. Here are five economic facts you might not have seen reported—because the media don't want you to know about them: (Screengrab image: via MRC Newsbusters)
- Inflation is lower during President Donald Trump's second term in office than it was during the Biden Administration.
- Despite the war with Iran, the price of gas during Trump's second term has never come close to its spike during Biden's time in the White House.
- Real wages stagnated under Biden, but have grown in both of Trump's presidencies.
- President Trump's 2025 tax cut bill lowered the average household's taxes by nearly three thousand dollars.
- Mortgage rates more than doubled under Biden, but fell in Trump's first term and has held steady during his second.
The average annual inflation rate during the Biden Administration (Feb. 2021-Jan. 2025) was 5.0%, according to the US Bureau of Labor Statistics. In contrast, inflation averaged 1.9% during Trump's first term (Feb. 2017-Jan. 2021) and 2.9% thus far during his second (Feb. 2025-Aug. 2026).
When it comes to the cost of a gallon of gas (regular), the all-time high was set on June 13, 2022 during Biden's presidency, when it hit $5.11, according to the US Energy Information Administration. As of Tuesday, the highest price during either of Trump terms in office was $4.63, reached on May 11, 2026.
Adjusted for inflation, "real" weekly earnings increased 6.0% in Trump's first term and failed to improve (0.0% change) during Biden's four years. Since then, real wages have grown 1.3% during Trump's second administration, as of the second quarter of this year.
Real wages are published quarterly by the Federal Reserve Bank of St. Louis for median usual weekly earnings of full-time employees at least 16 years old. They incorporate data from the US Bureau of Labor Statistics and are expressed in terms of 1982-84 Consumer Price Index (CPI) dollars. Subscribe for free to Breaking Christian News here
On July 4, 2025, Pres. Trump signed the One Big Beautiful Bill (H.R.1) into law, permanently extending tax cuts that were set to expire and adding new benefits. Without the new law, the tax cuts provided by the 2017 Tax Cuts and Jobs Act would have expired at the end of 2025. As a result, the average household's taxes would have risen $2,900, according to analysis by the Tax Policy Center.
During Pres. Trump's first term, 30-year mortgage rates fell 32%, from 4.1% on January 19, 2017 to 2.8% on January 21, 2021. By the end of Biden's White House stint, rates had spiked 151% to 7.0%. Since then, 30-year mortgage rates have remained steady, rising 1% from 6.96% on January 23, 2025 to 7.03% as of September 24, 2026. Mortgage rates are calculated and reported as weekly averages by Freddie Mac.
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