i know. my retirement account keeps going up and my business has been great. i am swamped with work and cant catch up. its a good problem to have as im making more money right now than i ever have in my life.
No, I don't think you do...nor will I waste time like other posters trying to education you. For a party that believes in **** your feelings you guys sure do go with your gut more often than using your brain. Screw facts, logic, and data...
He did no such thing. COVID destroyed the economy and Biden flooded the country with cash during latter stages of COVID. The inflation reduction plan. Yes, I do because I don't believe that China and Fauci will be allowed to put another plague on the world.
interesting that you only want to blame biden when the PPP program started under Trump. Biden just continued it. Do you think trump did not “flood the country with cash”? inflation is a global problem and the United States is actually faring better than the rest of the world.
The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises A 2025 Course Correction Is Needed 2017 Trump Tax Law Was Expensive and Further Eroded Our Revenue Base Tax cuts enacted in the last 25 years — namely, those enacted in 2001 and 2003 under President Bush (most of which were made permanent in 2012) and those enacted in the 2017 tax law — gave windfall tax cuts to the wealthy, costing substantial revenue, limiting the investments made to address national priorities, and adding trillions to the national debt. https://www.cbpp.org/research/feder...d-to-the-rich-expensive-and-failed-to-deliver
By this logic Trump should be blamed for allowing "China and Fauci to put another plague on the world" because he was president when it started.
Weird isn't it? The Trump-right is also all - DEMS WILL SHUT EVERYTHING DOWN! VAX IS POISON! Meanwhile Trump was the one in office when things actually shut down. Took as much credit for the vax as he could. Abbott issued a statewide mask mandate and allowed non-essential businesses to be shutdown. It was the DEMS fault though.
wrong again, the economic pie was never destroyed; despite Trump's incompetence in dealing w the pandemic, it was growing the economic pie grew faster---with much more job creation---when a more competent POTUS, Biden, was hired to replace the incompetent Trump
The Covid stimulus packages (two under Trump and one under Biden) played a crucial role in preventing the economy from collapsing due to Covid. The last stimulus under Biden, however, might have been excessive or unnecessary. The exact impact of these stimulus packages on inflation remains uncertain. Key factors driving inflation include severe labor shortages (still affecting sectors like restaurants; this is why Trump's mass deportations and legal immigration restrictions are predicted to increase inflation) and material shortages (due to China's extended shutdown and global supply chain disruptions). While these constraints are gradually easing back to pre-pandemic levels, the timing—a surge in demand while supplies were limited in mid/late 2021 as the world reopened—caused the sharp inflation spike. Although the Biden stimulus likely contributed to demand, the extent of its impact on inflation is uncertain. Notably, other countries with less stimulus also experienced similar or higher levels of inflation, suggesting that the U.S. stimulus played a relatively minor role overall. Importantly, U.S. GDP growth has outpaced that of other G7 nations, indicating that the Covid stimulus helped achieve short-term economic gains. Overall, the Covid stimulus likely had a modest impact on inflation but significantly boosted economic growth, helping the U.S. avoid a recession even as the Fed raised interest rates to cool the economy.
I think one of the right things Trump did was to get Congressional Republicans to support the first two CARE's packages. I think things would've been much worse if he hadn't addressed those. It's either rewriting history or ignorance to not acknowledge that Trump also pushed a lot of money into the economy during COVID. It's also not like everything reset at Jan 20, 2021 so the increased money supply from the PPP and the first two CARES acts were already in the economy. Therefore if increased spending was responsible for inflation then Trump is as responsible as Biden for it.
It is your position that Biden made inflation (cost of gasoline and groceries) worse than Trump would have. Ok, that’s an opinion and yes, cost of those goods is one element of economic prosperity. Honest question — in your experience, what are other key factors for economic prosperity? Have a good job, right? If you don’t have a good job, get training or education to get a good job, right? Get good raises so you can buy more and better things, and save money for the future, right? Get good returns on 401k, IRA so that your wealth can grow, right? Or maybe start a business instead of working for a company, right? How has Biden done in these areas that direct impact a persons economic prosperity, along with cost? Did none of these things help you? How did Trump do?
These people just need excuses to tell themselves to justify voting for trump. Facts don't matter and they don't listen. They were already dead set on voting for him and justify to themselves why so. "I'm voting for trump cuz he's a business man!" It's always same garbage and @Reeko convicted me
Scoop: 16 Nobel economists see a Trump inflation bomb Sixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump's plans would reignite inflation and cause lasting harm to the global economy if he wins in November. Why it matters: The Nobel laureates are lending their academic prestige to a political argument the Biden administration has been making for weeks: Inflation would be worse under Trump. "While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden's economic agenda is vastly superior to Donald Trump," the 16 economists write in a letter, first obtained by Axios. https://www.axios.com/2024/06/25/nobel-prize-winners-biden-economy-trump-inflation
another words, the Fed's monetary tightening policies, QT, to reduce the $ supply in circulation, has been effective. Fed's policies thus far, no rate cuts in the last 18 months, supported by resultant GDP/job creation/unemployment data, demonstrate to the world that the US economy is strong enough to grow even with the relatively higher cost of capital. note to the parrot who has been repeating the false narrative "the Fed is wrecking its balance sheet", not only has QT been effective to reverse the inflationary trend, it has also help to strengthen US dollar's dominance, as BRICS see no progress on de-dollarization "Dollar dominance — the outsized role of the U.S. dollar in the world economy — has been strengthened attributable to the robust U.S. economy flexes its muscles, in the face of global inflationary pressure post pandemic GDP growth every quarter, 13 consecutive quarters positive job creation---averaging > 100K every month---for 41 consecutive months historic low in unemployment, hovering around the high 3% to low 4% tighter monetary policy and heightened geopolitical risks, even as economic fragmentation has strengthened a push by BRICS countries to shift into other international and reserve currencies. Western sanctions on Russia imposed by the Group of Seven advanced economies after Moscow's invasion of Ukraine had accelerated efforts by the BRICS countries, Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates. to develop a currency union, but the group had been unable to make progress on its de-dollarization efforts.
