do you even understand what you have said. spoken by an economics denier, a pathetic attempt to hide his lack of understanding of economics you can't possibly be this willfully ignorant.. better to remain silent and be thought of as a fool than to speak to remove all doubt!! btw, mojo, every economic depression has happened in a Republican presidency, Hoover and W every recovery of such economic crater has been guided by a Democratic presidency, FDR and Obama
I'm guessing they're going to pivot onto Powell's meeting statements and say the recession (when declared) is because of the Rate Hikes rather than the cocaine induced spending euphoria from the past 2 years that distorted everyone's demand expectations with Everything Bubbles. Since Powell put Inflation Control as a priority over jerb growth, then it's a "justifiable reason." Bit of an asspull but I'm sure many cable watchers or apathetic people will believe it.
Awesome, it doesn't impact inflation (if you trust Penn Wharton Model) with the goal of reducing prescription drugs price, $400B in new spending to reduce emissions and an extra $300B in revenue to reduce the deficit by that amount. Add link to estimate: Inflation Reduction Act: Preliminary Estimates of Budgetary and Macroeconomic Effects — Penn Wharton Budget Model (upenn.edu) Estimated Inflationary Effects PWBM previously provided estimates of the Build Back Better Act (H.R. 5376) on inflation. Estimating the impact of the current Inflation Reduction Act on inflation is challenged by the smaller size of the program’s spending and taxes relative to the overall U.S. economy. For these estimates, PWBM uses an “impulse response” model that is standard in economics and subject to its own model limitations. We measure inflation as the Personal Consumption Expenditures (PCE) price index. We estimate that the Inflation Reduction Act will produce a very small increase in inflation for the first few years, up to 0.05 percent points in 2024. We estimate a 0.25 percentage point fall in the PCE price index by the late 2020s. These point estimates, however, are not statistically different than zero, thereby indicating a very low level of confidence that the legislation will have any impact on inflation.
What's the Republican counter proposal? How will inflation be lowered by electing Republicans in 2022 and 2024? Do they have their own Inflation Reduction Act ready to go? I'd love for someone Conservative to stop just complaining about Democrats for once and actually explain to me what you plan to do for once. The only thing I've seen Republicans do lately is have a few of them (not even most) get on board with the CHIPS bill, which they still tried to use as political leverage instead of just agreeing to do it. And then even that led to a temper tantrum by them where they voted against benefits for veterans I see a Dem bill we can debate. I'm waiting for the Republican bill to debate instead of y'all just complaining over and over
