CNBC Panel Blames Former President For The Affordability Crisis Facing Americans

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00:00CNBC panel blames former president for the affordability crisis facing Americans.

00:06On CNBC's Squawk Box, host Joe Kernan and former SEC chair Jay Clayton criticized President Biden's economic record,

00:13calling it a disastrous legacy, leaving challenges for President Trump's team.

00:18Kernan highlighted the real impact of rising prices on groceries, gas, and cars,

00:24framing the affordability crisis as a direct result of Bidenomics.

00:28Kernan highlighted a 22% price spike and inflation under Biden,

00:32compared to coverage of Trump's danger to the economy.

00:36Former SEC chair Jay Clayton added that when Trump's team led by Scott Besant returned in January,

00:42they inherited the worst economy in a generation, worse than post-9-11 the Great Recession, or COVID,

00:48blaming it on bad policy, over-regulation, and attacks on American energy.

00:52Kernan criticized Biden's green energy policies, EV mandates, and fossil fuel restrictions,

00:59for raising costs without benefiting Americans.

01:02Under Trump, 2.0 energy and gas prices are falling,

01:05and rolled back Obama-era CAFE standards could lower car prices by $1,000 to $2,000,

01:12delivering tangible savings.

01:14Kernan and Clayton criticized the media for downplaying the economic strain under Biden,

01:18linking high costs to reckless spending and ideological policies.

01:23With President Trump back, cleanup has begun,

01:25but Americans are still paying for the previous administration's economic damage.

01:30The affordability crisis stemmed directly from Biden's policies,

01:34and reversing the damage will take time,

01:36raising the question of whether Americans will remember who caused it.