Stryder50
Platinum Member
What could we expect. Like the Clintons and Obamas, this guy went from college graduate to collecting a guv'mint(taxpayer's) paycheck, so likely has no grasp on need to create wealth before you can have any to "redistribute".;
According to the law of supply and demand, when the government prints or borrows trillions of dollars, the value of the dollar declines, and prices rise. That is called inflation.
According to President Biden, when the government prints or borrows trillions of dollars, the value of the dollar doesn't decline, and prices decrease. That is called, to borrow a Biden-ism, malarkey.
Per the president, "My Build Back Better plan will be a force for achieving lower prices for Americans looking ahead. It's another reason why these investments are so important."
So, showering the economy with $6 trillion in new spending (the price tag of Biden's Build Back Better plan) will lead to lower prices? That is utter nonsense.
Biden's remarks came exactly one day before his administration marked six months since entering the Oval Office. And over the past six months, inflation has become a persistent problem throughout the U.S. economy.
As reported by the Bureau of Labor Statistics, "The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May ... This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment; this was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008."
In fact, inflation has steadily increased every month of the Biden presidency.
This trend does not bode well for the future, considering that the Biden administration has big spending plans in store.
Already, President Biden, in conjunction with the Democratic-controlled Congress, has signed the $1.9 trillion American Rescue Plan. Yet, that is just the beginning.
....
~~~~~~~~~~~~~~~~~~~~~~
Biden is in league~lock-step with most all other Democrats/Leftists here. All have no clue on basic economics or how to deal with/"fix" same.
Biden misunderstands basic economics
...According to the law of supply and demand, when the government prints or borrows trillions of dollars, the value of the dollar declines, and prices rise. That is called inflation.
According to President Biden, when the government prints or borrows trillions of dollars, the value of the dollar doesn't decline, and prices decrease. That is called, to borrow a Biden-ism, malarkey.
Per the president, "My Build Back Better plan will be a force for achieving lower prices for Americans looking ahead. It's another reason why these investments are so important."
So, showering the economy with $6 trillion in new spending (the price tag of Biden's Build Back Better plan) will lead to lower prices? That is utter nonsense.
Biden's remarks came exactly one day before his administration marked six months since entering the Oval Office. And over the past six months, inflation has become a persistent problem throughout the U.S. economy.
As reported by the Bureau of Labor Statistics, "The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May ... This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment; this was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008."
In fact, inflation has steadily increased every month of the Biden presidency.
This trend does not bode well for the future, considering that the Biden administration has big spending plans in store.
Already, President Biden, in conjunction with the Democratic-controlled Congress, has signed the $1.9 trillion American Rescue Plan. Yet, that is just the beginning.
....
MSN
www.msn.com
Biden is in league~lock-step with most all other Democrats/Leftists here. All have no clue on basic economics or how to deal with/"fix" same.
