Here is how Biden admin's fiscal policies overstimulated the economy therefore increased inflation.
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Replies to: Here is how Biden admin's fiscal policies overstimulated the economy therefore increased inflation.
Everything he is doing is an election yr ploy,
for example, he may limit border crossing.after doing nothing for 3 1/2 YEAR
HE thinks we're stupid
This ^^^^^
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Note the organizations that supported JB's COVID rescue bill...including the SF Fed which noted its
protection against a more difficult problem of "Deflation" while adding only 0.3% to inflation...from the attached Wiki summary...
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Republican mayors such as Jerry Dyer of Fresno, California, Francis Suarez of Miami, David Holt of Oklahoma City, and Betsy Price of Fort Worth, Texas, expressed their support for the plan. Dyer told the Washington Post that "It's not a Republican issue or a Democrat issue. It's a public health issue. It's an economic issue. And it's a public safety issue."[124]
Over 150 CEOs of major companies expressed support for the Biden stimulus plan in a letter and urged Congress to pass it.[125]
A broad range of advocacy and interest groups praised the bill, including local government groups (National Association of Counties and U.S. Conference of Mayors); business associations (National Farmers Union, Airlines for America, National Association of Realtors, National Restaurant Association, Small Business Majority); education organizations (the American Council on Education, American Federation of Teachers, National Education Association, National School Boards Association), organized labor (the AFL–CIO and AFSCME); healthcare organizations (American Academy of Pediatrics, Association of State and Territorial Health Officials, National Nurses United), the American Public Transportation Association, and the civil rights group UnidosUS.[126] Feeding America, the American Hotel & Lodging Association, the Main Street Alliance, the U.S. Travel Association, the American Hospital Association, the Association of American Medical Colleges, and the National Council of Nonprofits praised the bill, but said that additional relief would be necessary.[126] The Business Roundtable, U.S. Chamber of Commerce, and Committee for a Responsible Federal Budget called for a smaller and more targeted package.[126]
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btw, this was very much a Keynesian act...much like what was employed by the Obama administration to get us out of the 'Great Recession'...it worked...even though Republicans just wanted to sit on their hands and leave the government out of it. Thank Heaven we had a knowledgeable and intelligent team in power at that critical juncture...just as we do now.
Link: https://en.wikipedia.org/wiki/American_Rescue_Plan_Act_of_2021
Well, if CEOs of large corporations are in favor of it...
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Under this reasoning, Trump is off the hook for Covid response through March 6, 2020
Because on that date, the Great Fauchino went on the Today Show and told everyone to continue to live life normally...yet you get on Trump for not doing more in January of that year.
I will admit you are a great spin doctor, because spin doctors have to have no shame in being contradictory in their "reasoning."
You continue to be one of the most reasoned,
thoughtfully posters. Handing Tyrone his lunch daily is just a side benefit. Thank you
It's not much of a challenge, actually
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I'm not alone as you can see...the U.S. Chamber of Commerce, for example...I'm comfortable with that
...as well as the SF Fed's blessing...no 'spin' by either of those organizations with more than a few excellent economists.
It doesn't matter... it doesn't matter... it doesn't matter. Biden is in power... he gets the blame.
You can find a gazillion links to show how Biden's policies were the wisest possible under the circumstances.
The average person just looks at his or her personal finances.
There is a tsunami headed your way in November.
Link: https://www.youtube.com/watch?v=eQyAESpixF8
Of course. Just don’t for a moment think it wouldn’t be the same if Orange had been reelected in
2020. He spent and cut taxes for rich folk like a wild man as well.
Finally, inflation sucks here, but it’s better than in all the other western industrialized nations. But Donnie boy could solve it, right?
You know then that the trope of JB being responsible for inflation is bogus...why do you promote it?
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Laughable
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Small business doesn't trust Biden.
Did those fiscal policies create inflation in every other major country too?
Our inflation was lower.
And do you have a job?
Back to my idea of just giving everyone a million dollars.
Surely there are no downsides to such a strategy.
More expensive than you’d think…
…once you toss in the Big Guy’s take.
Goddammit, I always forget about that.
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Propaganda ministry, Chinese govt.
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Part 2. Inflation Reduction Act (IRA). I'm sure Tyrone has honor & conscience to finish this part.
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Aren’t these guys the “Pros”?
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Part 1. On march 2021, $1.9 T stimulus package at a time when the U.S. economy was growing at 6.5%
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Link: https://en.wikipedia.org/wiki/American_Rescue_Plan_Act_of_2021
NYT is shameful. It claimed then: Fear of inflation, not inflation is a threat to Amerian economy.
WaPo cheers, calling 1.9 trillion spending "the first win for Biden admin".
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Link: https://www.washingtonpost.com/us-policy/2021/03/10/house-stimulus-biden-covid-relief-checks/
Every R from house & senate voted against this spending for fearing inflation and waste.
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Even Summers on the left: This is the least responsible policy in the last 40 yrs. It'll accelerate
Even WaPo admitted Biden’s 1.9 T package made inflation worse. But it made the economy better. WTF
1 year later one MSM admitted Summers is right. 1.9 T spending package indeed increased inflation
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Link: https://www.bostonglobe.com/2022/04/14/business/larry-summers-was-right-inflation-lets-hope-his-recession-forecast-is-wrong/
Here is on example from Republican congressman Bill Posey.
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Link: https://posey.house.gov/news/documentsingle.aspx?DocumentID=396890