from Covid.
You walked into that one.
Self-serving and stupid in both cases.
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Totally predicable and many people knew it, but we were lied to: "Transitory".
It was the supply disruption of the Ukraine war.
It was the right policy.
Just like it’s the right policy to tap into it during the current supply disruption…but it’s a short-term fix.
The cliff is getting nearer. We are speeding right toward it, Thelma-and-Louise style.
In both cases it was about the prices at the pump, which I've shown you the math on. Not a major hit to anyone's budget. Mostly political in both cases.
The price of oil is directly related to economic performance.
When it goes up and stays up, people lose jobs.
Managing that price, to the extent possible, is wise policy. National prosperity is a vital national interest.
Inflation was, and has been a much bigger problem. And a much bigger drain on the economy than reducing the price of gas by "13-31 cents". This was stupid, in both cases.
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I can see why so many of you love Trump’s “policies.”
He knows that he will be dead when the crash happens. So he does not care.
2024: $244 billion
2025: $291 billion
2026: $432 billion
Unsustainable.
All of these damn, stupid budget hawks over the years...
Along with economists and college professors that told us it didn't matter.
Spend during downturns, pay it off during boom times.
Instead we spent during downturns, and spent more during boom times.
The massive tax cuts under bush and Trump were catastrophic.
Deficits shrank while Obama was in office.
Trump has been - by far - the worst.
Obama's failure (and Congress) was in failing to follow through on Simpson-Bowles.
Consent Management