President Joe Biden had a simple message for voters in Cleveland when he went to defend a provision of the first big spending bill he signed into law: Everything good about the economy was the result of his policies.
In contrast, everything bad was the fault of someone else.
Yet some economists believe this legislation, coming fast on the heels of over $3 trillion in COVID-19 stimulus spending signed into law by the previous president, contributed to the inflation the country is now experiencing. These spikes in consumer prices were recently running at a 41-year high. Biden had noticeably less to say about that.
Despite Harry Truman’s “buck stops here” catchphrase, Biden is hardly the first president to take credit for positive news while deflecting blame for the negative headlines. Presidents receive a disproportionate amount of credit or blame for whatever happens in the country during their administration, especially on the economy.
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