During the recent Republican National Conference, criticism was directed at President Joe Biden's economic policies, with claims that some of the attacks were not entirely accurate.
One assertion made by North Carolina Gov. Doug Burgum focused on the impact of Biden's regulations on the economy. Burgum claimed that Biden's policies had led to increased prices in various aspects of daily life, including gas, food, clothing, and rent.
However, a closer look at the facts reveals that the statement is misleading. While some have attributed higher inflation to Biden's $1.9 trillion pandemic aid package, there is little evidence to suggest that regulations are to blame for rising costs.
For instance, the rise in gasoline prices post-pandemic was primarily due to lower production levels. Furthermore, the escalation of gas prices was exacerbated by the conflict in Ukraine, rather than regulatory measures.
Similarly, the increase in food prices can be partly attributed to the war in Ukraine, which disrupted global supply chains. While clothing costs have indeed risen under Biden, there is no direct link to regulatory burdens as the cause.
When it comes to housing costs, experts point to a shortage of new construction and available homes as the primary issue. While regulations may play a role in inhibiting new construction, these restrictions are predominantly at the state and local levels.
Overall, while criticisms of Biden's economic policies have been vocalized, it is essential to separate fact from fiction when evaluating their impact on inflation and cost of living.
For more fact checks and accurate information, readers can refer to the AP Fact Check section available at https://apnews.com/APFactCheck.
