In 1949, the US president was Harry S. Truman. President Truman earned a salary of $100,000 per year. Today, President Biden earns an annual salary of $400,000. The CPI in 1949 was 23.8, and the most recent CPI value is 271.0. With this information, please determine who is better off, President Biden earning a salary of $400,000 today or President Truman earning a salary of $100,000 in 1949. Provide a clear explanation for your answer.

Answer rating: 100% (QA)

To determine who is better off financially we need to compare the purchasing power of their salaries ... View the full answer