Tell me this is not going to cause even more inflation!
And/or that the Fed will not raise rates to a level that triggers a severe recession.
Link: https://www.foxnews.com/politics/biden-congressional-dems-major-laws-add-up-3-8-trillion-price-tag-despite-razor-thin-majority
Replies to: Tell me this is not going to cause even more inflation!
It's not.
Can you post about something else now?
Your Nobel Prize for Economics is on its way.
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His body of work for that Nobel was Obama-esque.
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How many trillions would it take before it would cause greater inflation? Genuinely curious.
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Is this the start of a serious discussion because the OP was not...hence my response to it.
Curly is just oddly obsessed with inflation and approaches by throwing a bunch of shit against the wall to see what sticks. When told hyperinflation has a specific meaning and it's ridiculously higher than anything we will ever experience, he changes it to "well, the Democrats will start calling it that so they can enact a bunch of policy changes." He's loony. Or is it looney?
But if you want to speak about it seriously, sure. The only piece of legislation that likely had an impact, or at least an impact that was material AND not outweighed by positive factors was the original COVID relief bill. It may very well have not been necessary and it very well may have added to inflation. I probably wouldn't have voted for it if I were in congress at the time. However, there was still a lot of uncertainty at the time and people didn't know what the effect of NOT doing it would be. It likely helped some and boosted inflation some. Side note: I do find it funny that Republicans start there and not the other COVID relief bills passed while President Trump was in office since they all contributed. The PPP bill was a near complete sham and a gigantic wealth transfer to wealthy people.
Adding in the infrastructure bill is silly, especially since Republicans have been using it as an example of what we should be spending our money on for years (while simultaneously not doing anything about it). "Why are we putting billions into made-up climate change when our roads and bridges are falling apart?! Hur dur!" Ditto the bill to compete with China, specifically in the tech space. Critics can't have it both ways. So will these increase inflation, probably some. But they will also increase jobs, make us more competitive and fix our broken shit. Which is why a bunch of Republicans voted for it that actually care about getting shit done. Bully for them.
This bill will supposedly cut the deficit (or, my guess, increase it at a slower rate) and a material part of the spend invests in "energy security" which, again, is something for which Republicans have been clamoring.
Inflation is high throughout the first world because of litany of factors, most related to escaping the pandemic. The first spending bill likely contributed to it though there are countries that are higher than the U.S. that didn't put in such a spending bill. Inflation also looks to be topped out, hence the lack of daily posts about gas prices anymore on this board. This latest bill isn't going to do shit to it either. It's just on the list of reasons people don't like this administration/congress getting something done and they select it occasionally. Or, in the case of Curly, daily.
Any time you want to have a serious discussion like this, sign me up. They are so rare these days.
Try reading the bills instead of the nonsensical titles genius.
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To paraphrase Ara in Rudy:
You just summed up your entire sorry (posting) career in one sentence.
Please, let the adults speak.
Dan Devine. Please continue though, you’re on a roll.
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Ara.
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Wanna bet?
$10,000
Thank you for proving my point.
A Rudy reference, you are one cool dude.
I don't disagree with most of that.
A marginal increase in inflation can certainly be justified when balanced against real infrastructure improvements and the jobs that will result. I agree completely on the PPP, which was appalling. I have any number of bills that Trump signed that I hate.
Consider this another bridge built by the infrastructure bill.
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Of course it will.
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Let's break this down...
> $1.9T "American Rescue Plan"...as the SF FED noted...while the increase in spending would add to inflation (~3%), it is the wise choice, given the very real threat of "Deflation"...a much harder challenge to overcome.
> $1.2T "Bi-Partisan Infrastructure Bill"...what enterprise doesn't maintain its capital investments?...what enterprise doesn't invest in preparing for future changes it knows are coming (i.e. energy shift away from fossil fuels)?...this spending was essential and even the Republicans knew it.
> $0.28T "CHIPS Bill"...Again, a bi-partisan piece of legislation for national security in this critical field...a very good investment in our future.
> $0.48T "Inflation Reduction Act"...Reduces the national debt without raising taxes...(note: Corporate tax rate is still 21%)...lowers prescription drug costs, etc.
Each expense has been justified...as opposed to the ONLY meaningful legislation enacted by the Trump administration...tax reductions in good times, and primarily for those who didn't need it.
What the real headline should be is "Republicans Embarrassed by Success of Biden Administration Progress"...have to run, but I'll be back to illustrate more how today's GOP must not be allowed to control anything in this country...hopefully, this will change significantly in the not-too-distant future, as we need a viable two-party system.
Unfortunately, Biden has not the slightest idea what he's doing. We're being led by Mr. Magoo...
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Mr. Magoo can run rings around You...
His "Fund of Knowledge" and experience exceeds that of virtually any "Pol"...both domestically and internationally...it's on display with the growing list of legislative successes, and on the latter point, Putin had to have known that and is now rueing Trump's failure.
Thanks for your wildly biased opinion. Will be given the weight it deserves...as always.
Biden is 80 and visibly slipping and isn't running rings around anybody...if he ever did.
In his best days, he was an affable glad-hander not a stunning intellect.
You know this...but your function here is to propagandize. See you're gearing up for the mid-terms...
Biden does not have to be a "Stunning Intellect" to be better than you or many others here...
especially when it comes to politics...you've got your silly meme...keep chewing on it while actual progress is being made for all to see (except you).
As for 80 year olds, I know quite a few that are truly "Stunning Intellects"...still...you need to find a better crowd to hang with ;-).
Nice to see you dismiss reality as a “silly meme”. What I’ve seen this far is a string of abject
failures for the most part as the result of foolish and bizarre decisions by the Biden team. Many have cost lives. Waiting for the string of successes. Tangible ones…not the ones that flow from your active imagination.
You think because you know a few smart octogenarians that they are equipped to handle the rigors of the Presidency?
The ones that could are such serious outliers that this dumb experiment should never be repeated.
You’re a silly and foolish little man…which you amply demonstrate on a consistent basis.
Stick to regurgitating the string of links that are provided to you. You’re much safer there…
The video evidence is up to interpretation I suppose.
But the number of times he's stated something only to have the WH clarify is pretty solid evidence.
Oh yeah, the note card with the all caps he shows to the press like a duddering old fool, there's that.
It depends on whether or not you're willing to listen to the content or just focus on any
departure from a perfectly enunciated presentation...in the linked press conference there are challenging questions from reporters organized only in their order of appearance...not the content of their questions...Biden has no teleprompter, but of course has some notes for reference...so, everything is extemporaneous and he must think on his feet.
All the questions are substantive and as President of the USA, each word of his matters and he delivers answers that are clear and to the point of the reporter's inquiry. I'd suggest you view the video and let us all know where he didn't respond clearly and/or properly....be specific.
The man is performing his job...btw, with the passage of time, his handling of certain issues has shown him to be a very capable and effective leader (e.g. gas prices down nearly $1.00/gal...just as suggested they might by him).
Let me know if you'd prefer Donald Trump in office right now...seriously.
Link: https://youtu.be/nf5XwsFq1WY
You know as well as anyone deep inside, you just don't want to admit it.
Otherwise you wouldn't need to resort to the what about.
Remember the Easter Bunny...
I'll bet you didn't watch the video of his international press conference...that's clear evidence of
Biden's competence as President...he gets asked challenging questions...doesn't get flustered...has no external assistance of any kind...all on his own...every word being judged...fully understands the questions and their implications...delivers a cogent response every time...delivers a clear message on what U.S. policy is...now and for the future...moreover, Biden was able to interject a bit of humor and was respectful of each and every reporter who confronted him, which to me shows confidence and leadership.
Watch the video and tell me where he failed...or where he was "clueless"...or where he was "senile"...get specific, instead of making vague insinuations...
...and if you can handle more than one thought at a time, consider that real progress is being made both domestically and internationally...with a fair part of it getting bi-partisan approval...I'm not sure what you're really looking for.
He’s being handled by people who think the private/government split should be 20/80 vs the opposite
That and the anti-business climate aren’t good. Not to mention the damage paying people to do nothing has done.
Correct.
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You have lost your objectivity.
Biden has aged physically and is less sharp.
But, the notion that he is clueless and out of touch is unsupported by reality.
.
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I thought he was running for president in 2020. Less sharp. lol
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Link: https://m.youtube.com/watch?v=Ef1WbLvZmEE
We shall certainly see, my friend.
Mr. Magoo was obviously an overstatement for effect, however, I believe an objective person would acknowledge that Biden is in command of precisely nothing at this point.
He may possibly believe that his advisors ideas are his own.
Have said it before, I believe that Democrats in power and in the know will run him out the door before the end of his term.
There were enough doubts about him beforehand that many of them wanted to "Draft Cuomo"... You don't know what's going on behind the scenes...until you do. The signs with Biden ain't good.
I am confident that Biden is not going to seek re-election. However, .....
... I actually do know that President Biden is fully in command.
Don't you mean: "YOU have lost YOUR objectivity"?
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Unfortunately, the aviator sunglasses haven't helped Mr. Magoo's vision.
Running up airline stairs and riding bikes are still tricky.
LOL. Good one. Don't stop now.
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He sure has passed a lot of deals for a guy without “the slightest idea what he's doing”
Maybe it’s time for a new tired theme.
His party controls both houses of Congress. At that, his last "deal" had to be purchased by Schumer
...at great expense from Manchin and Sinema.
It was purchased precisely so CNN could run the nonsensical "cool old dude in the aviators" tripe in advance of the mid-terms.
Biden is a facade. It's been plainly obvious for quite some time. Pretend it's a theme if it makes you feel better.
And, yet again, saying Biden is wholly inadequate does not mean that I advocate the return of Trump.
I never wish to see a president this old again from any party.
Rationalize it however you want. Your “senile” theme is Hank-level stupid.
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Never said he was senile. He's not up to the task of the presidency. Your failure to recognize it
...is Nocal level stupid.
Right. He just has “not the slightest idea what he’s doing.”
What happened to you?
I understand the rest of these idiots and zealots.
But I don’t get how you - and Jakers - are part of the cult.
Mueller! Mueller!
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Cult of what exactly? To what end? Acknowledging that Biden is brutal makes one a cult member?
The difference is, I think there are cults on both sides...and, in my view, you're far closer to a cultist than I.
You don’t see things exactly the way he does so you have to
Be in a cult. They fact that they cannot see Joe is in serious decline says a lot. I have a feeling they see it but just ignore because he’s on their side. That is even worse.
They have to believe it. Cognitive dissonance is a bitch, I am told.
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Exactly correct.
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Mr. Magoo has more legislative wins then your Orange Lord and that hurts your ass...admit it.
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Afghan withdrawal. 13 heroes dead. That's all you need to know.
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And 800 American citizens left behind.
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Strange that Houseplants own party doesn’t want him to run in 2024.
Um...
Not sure why I need to repeat this for the umpteenth time, but I personally don't care for Trump. Never voted for him and have taken issue with a number of things he did during his presidency.
So, he's not my "Orange Lord" by any stretch,.
Trump's shortcomings do not make BIden any less of the unqualified disaster that he is.
NIce whatabout though...Road Hog!
Tax and spend
That’s their M.O. always has been, always will
The American Rescue Plan in ‘21 added 3-5% to inflation - that was Barack Biden
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Ok I'll bite, what exactly in the bill will cause inflation? R we at the point where all spending
now causes inflation? The new right wing scary talking point? The IRA spend is over a 10 year period of time.
The impact will be long term. Today's inflation is due to the COVID spendaloosa, during Trump's term
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They wouldn’t need a inflation reduction bill if they didn’t cause it in the first place. Jan 20,
2021-1.4 % current 8.6 % as high as 9.1 %.
According to economist the last covid bill added a couple of points to inflation. Where does the
rest come from? I'm sure the people who needed that money during hard times would be fine with 4% inflation.
Did they cause it in Europe too?
Cause-and-effect is not your thing.
Of course the US economy is large enough to cause global inflation. Next question?
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Genius!
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You should audit a macroeconomics class.
Wear a mask, nobody will recognize you. You are obviously a tabula rasa.
So then, a U.S. "Inflation Reduction Act" is pure folly. Look forward to Biden's announcement...
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I don’t live in Europe do you?
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The point escapes you. Inflation at 10.1% in the UK blame Biden.
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