Biden reacts to terrible December inflation report by fear mongering about Republicans

[SassyIrishLass]

Guess you are one of those losers. "It works if you work it". The opportunities are out there if you just pull your head out of your ass and tackle them. My oldest son, well his wife just quit her job, as a nurse, to be a stay at home Mom. His income now is more than what it was in 2019, and that includes her income. And that is not unusual.

Blah blah blah

Don't care

 

[Winston]

Blah blah blah

Don't care

Keep your head up your ass, flippin loser.

 

[Thinker101]

Guess you are one of those losers. "It works if you work it". The opportunities are out there if you just pull your head out of your ass and tackle them. My oldest son, well his wife just quit her job, as a nurse, to be a stay at home Mom. His income now is more than what it was in 2019, and that includes her income. And that is not unusual.

It's good to see not everyone in your family is on the government teat.

 

[WTH_Progs?]

Prices going UP 3.4% and this moron claims he is lowering prices.

Fuck too. Just my gas util. bill therms charge for Dec. went up 57.4% over last year. Food has recently gone up too, a lot.

 

[Concerned American]

Fuck too. Just my gas util. bill therms charge for Dec. went up 57.4% over last year. Food has recently gone up too, a lot.

My heating oil over doubled in price this year. $2300 to $4700 for the same quantity.

 

[Libby von H]

Wage growth is now higher than inflation. Does that mean anything to your stupid ass?

NO,it isn't in fact

BIDENOMICS BY THE NUMBERS:

• Inflation is a tax on ALL Americans.
• When Joe Biden took office, inflation was at just 1.4%.
• Since Joe Biden took office inflation has risen by 17.2%
• Americans are paying more for just about everything because of inflation:
  • Motor vehicle insurance is UP 20.3%
  • Frozen noncarbonated juices and drinks are UP 19.1%
  • Food from vending machines and mobile vendors is UP 13.1%
  • Uncooked beef steaks are UP 11.2%
  • Motor vehicle repair is UP 10.3%
  • Transportation services are UP 9.7%
  • Uncooked beef roasts are UP 8.9%
  • Nonprescription drugs are UP 8.3%
  • Crackers, bread, and cracker products are UP 7.7%
  • Baby food and formula is UP 7.3%
  • Sugar and sugar substitutes are UP 6.9%
  • Rent of primary residence is UP 6.5%
  • Shelter is UP 6.2%
  • Frozen vegetables are UP 6.1%
  • Food away from home is UP 5.2%
  • Pet food is UP 5.1%
• Under Joe Biden’s failed economic agenda, Americans are spending $11,400 more annually to buy the basics.

 

[Winston]

NO,it isn't in fact

BIDENOMICS BY THE NUMBERS:

• Inflation is a tax on ALL Americans.
• When Joe Biden took office, inflation was at just 1.4%.
• Since Joe Biden took office inflation has risen by 17.2%
• Americans are paying more for just about everything because of inflation:
  • Motor vehicle insurance is UP 20.3%
  • Frozen noncarbonated juices and drinks are UP 19.1%
  • Food from vending machines and mobile vendors is UP 13.1%
  • Uncooked beef steaks are UP 11.2%
  • Motor vehicle repair is UP 10.3%
  • Transportation services are UP 9.7%
  • Uncooked beef roasts are UP 8.9%
  • Nonprescription drugs are UP 8.3%
  • Crackers, bread, and cracker products are UP 7.7%
  • Baby food and formula is UP 7.3%
  • Sugar and sugar substitutes are UP 6.9%
  • Rent of primary residence is UP 6.5%
  • Shelter is UP 6.2%
  • Frozen vegetables are UP 6.1%
  • Food away from home is UP 5.2%
  • Pet food is UP 5.1%
• Under Joe Biden’s failed economic agenda, Americans are spending $11,400 more annually to buy the basics.

Your statistics don't even mention wage growth.

Wage Growth Tracker

Measure of the wage growth of individuals. It is constructed using microdata from the Current Population Survey (CPS), and is the median percent change in the hourly wage of individuals observed 12 months apart.

www.atlantafed.org

Wage growth vs inflation U.S. 2024 | Statista

The rate of inflation overtook the growth of wages in April 2021. High rates of inflation means that consumers are seeing a decrease in purchasing power

www.statista.com

Look, a little over a year ago you might have had a point. But wage growth has outstripped inflation since February of 2023. And that is not surprising, wage growth always lags behind inflation, then you hit the inflection point, and wage growth outstrips inflation. The concern is always that counter inflationary measures will increase unemployment, it is called the Philip's curve, that didn't happen this time and it is a testament to the Biden administration.

Furthermore, you can expect continued wage growth and a continued decline in inflation. I mean I know I am the only person on this damn board that reads the Federal Reserve meeting notes. Concerning inflation, the supply chain problems we had a couple of years have all but evaporated and now we are looking at increased efficiencies within the supply chain, that will help lower prices. China's economic woes and the United States record breaking and world leading oil production will keep fuel prices low going forward, OPEC is now all but toothless, and the loss in production from Russia has already been priced in. Rent, which has been the primary driver of inflation over the last year. will start to decline as more available housing comes online and interest rates decline.

Look, I get it. If you are sitting at home collecting disability, or Social Security, you can't really see it. But you will in 2024. You get your cost of living raise and the prescription drug benefit with Medicare expands more than it has in the history of the program. Both of those are going to put real money in the pocket of the disabled and the retired.

The expanded child tax credit is now on the table, and while Republicans will fight it, Democrats should take a firm stand and make sure it stays put and passes. That also puts real money into the pockets of consumers.

The reality is that Biden, and the Democrats, have handled the post Covid transition with textbook efficiency. Fifty years from now Trump will be all but forgotten, Biden's first term will be taught in history classes as a classic, and economic classes as an example of success.