Biden's "Inflation Reduction Act" will cause inflation to rise.

[bripat9643]

And Trump's much larger spending did not?

You have to be suffering brain damage to believe Trump's spending was much larger.

 

[Sandy Shanks]

ABC reports, "The U.S. hiring saw a dramatic increase in July, as the economy added 528,000 jobs and the unemployment rate fell to a historic 3.5%. The 528,000 jobs added in July marks a significant uptick from 372,000 jobs added in June. Moreover, the figures signals an improvement from the already-robust hiring sustained over the first half of 2022, during which the economy added an average of 461,000 jobs each month.

ABC reports, "Americans maintain a sour view on the state of the economy and are pessimistic about its future course, with President Joe Biden’s approval rating across a range of issue areas continuing to suffer, according to a new ABC News/Ipsos poll. More than two-thirds (69%) of Americans think the nation’s economy is getting worse.

Grassroots Democrats play a major role in these polls, and they are working hard to ensure that Republicans win control of Congress in November. It seems readily apparent that they think Republicans can do a better job with the economy.

So, is it true that Republicans do a better job with the economy?

10 of the last 11 recessions started under Republican presidents. Every Republican president since Benjamin Harrison, who served from 1889 to 1893, had a recession in their first term in office. Below is the start date of recessions; the following list includes the president in office at that time and their party:

1.) February 2008 (Bush 43 / R) House - D / Senate - D

2.) December 2007 (Bush 43 / R) House - D / Senate - D

3.) March 2001 (Bush 43 / R) House - R / Senate - R

4.) July 1990 (Bush 41 / R) House - D / Senate - D

5.) July 1981 (Reagan / R) House - D / Senate - D

6.) January 1980 (Carter / D) House - D / Senate - D

7.) November 1973 (Nixon / R) House - D / Senate - D

8.) December 1969 (Nixon / R) House - D / Senate - D

9.) April 1960 (Eisenhower / R) House - D / Senate - D

10.) August 1957 (Eisenhower / R) House - D / Senate - D

11.) July 1953 (Eisenhower / R) House - R / Senate - R

12.) November 1948 (Truman / D) House - R / Senate - R

The economy was in recession for 49 quarters from 1949-2013; 8 of these quarters were under Democrats, with 41 under Republicans.

The economic history was provided here, https://en.wikipedia.org/wiki/U.S._...mocratic_and_Republican_presidents#Recessions

Our latest recession took place under the Republican administration of Donald Trump in 2020. Recovery took place under the Democratic Biden administration. We currently have full employment and robust spending by American consumers, which is the main driver of our economy.

Americans' main gripe is the economy. Why in the world are Republicans expected to win control of Congress in November? Sheer ignorance?

 

[LeftofLeft]

Biden's spending caused the inflation. There is little doubt about that. Don't cut these douchebags any slack.

I know it did. I was just focusing on the basic how a President responds. This guy thinks people not getting vaxxed or questioning the election impacts the economy.

 

[francoHFW]

I never said Biden’s policies caused the inflation. A President is measured on how they address inflation. People refusing to get vaxxed or their views on the election have nothing to do with inflation.

I think the supply chain crisis and people not wanting to go out and go to work are caused by fears about unvaccinated people or the fears of unvaccinated people. what do you think causes that kind of thing? I also think we should have vaccinated other parts of the world too, but the GOP would block any such spending and continue to spread destructive misinformation around the world on the Internet et cetera trump...

 

[francoHFW]

I know it did. I was just focusing on the basic how a President responds. This guy thinks people not getting vaxxed or questioning the election impacts the economy.

Inflation is basically about your hero Putin disrupting wheat and gas production.... And whatever causes supply chain crises...

 

[LeftofLeft]

I think the supply chain crisis and people not wanting to go out and go to work are caused by fears about unvaccinated people or the fears of unvaccinated people. what do you think causes that kind of thing? I also think we should have vaccinated other parts of the world too, but the GOP would block any such spending and continue to spread destructive misinformation around the world on the Internet et cetera trump...

People not wanting to go out and work or Democrats shutting down businesses?

 

[francoHFW]

Grassroots Democrats play a major role in these polls, and they are working hard to ensure that Republicans win control of Congress in November. It seems readily apparent that they think Republicans can do a better job with the economy.

So, is it true that Republicans do a better job with the economy?

10 of the last 11 recessions started under Republican presidents. Every Republican president since Benjamin Harrison, who served from 1889 to 1893, had a recession in their first term in office. Below is the start date of recessions; the following list includes the president in office at that time and their party:

1.) February 2008 (Bush 43 / R) House - D / Senate - D

2.) December 2007 (Bush 43 / R) House - D / Senate - D

3.) March 2001 (Bush 43 / R) House - R / Senate - R

4.) July 1990 (Bush 41 / R) House - D / Senate - D

5.) July 1981 (Reagan / R) House - D / Senate - D

6.) January 1980 (Carter / D) House - D / Senate - D

7.) November 1973 (Nixon / R) House - D / Senate - D

8.) December 1969 (Nixon / R) House - D / Senate - D

9.) April 1960 (Eisenhower / R) House - D / Senate - D

10.) August 1957 (Eisenhower / R) House - D / Senate - D

11.) July 1953 (Eisenhower / R) House - R / Senate - R

12.) November 1948 (Truman / D) House - R / Senate - R

The economy was in recession for 49 quarters from 1949-2013; 8 of these quarters were under Democrats, with 41 under Republicans.

The economic history was provided here, https://en.wikipedia.org/wiki/U.S._...mocratic_and_Republican_presidents#Recessions

Our latest recession took place under the Republican administration of Donald Trump in 2020. Recovery took place under the Democratic Biden administration. We currently have full employment and robust spending by American consumers, which is the main driver of our economy.

Americans' main gripe is the economy. Why in the world are Republicans expected to win control of Congress in November? Sheer ignorance?

They also cause the recessions with corrupt bubbles and busts with deregulation. 1929 2008 1989 every time they get the chance

 

[LeftofLeft]

Inflation is basically about your hero Putin disrupting wheat and gas production.... And whatever causes supply chain crises...

Where did I say Putin was my hero? Global events can impact inflation. A US President is measured how they respond.

 

[francoHFW]

People not wanting to go out and work or Democrats shutting down businesses?

People not wanting to go out. Nobody's locking down businesses anymore people just don't want to go out. I don't know why LOL. I think some people are scared of people who won't wear masks and don't get vaccinated. I also know people who refuse to get vaccinated and go out lol quite a mess and misinformation doesn't help.

 

[francoHFW]

Where did I say Putin was my hero? Global events can impact inflation. A US President is measured how they respond.

Well gas and wheat prices have come down. Because of what Biden has done. But Putin is the hero of many right wingers. a total POS, Trump's pal

 

[LeftofLeft]

Well gas and wheat prices have come down. Because of what Biden has done. But Putin is the hero of many right wingers. a total POS, Trump's pal

What specifically has Biden done and how does that not make us less susceptible to the global market? What policy(s) are you referring to?

 

[francoHFW]

What specifically has Biden done and how does that not make us less susceptible to the global market? What policy(s) are you referring to?

The global market has improved because of his steady hand and God knows what else. Look it up and give me a report. The same stuff he wasn't doing when it was going up LOL

 

[LeftofLeft]

The global market has improved because of his steady hand and God knows what else. Look it up and give me a report. The same stuff he wasn't doing when it was going up LOL

Specious does not even begin to describe your response yet I am certain that as loud as you are giving him credit now for gas prices dropping you will be the first one screaming that he has nothing to do with rising gas prices. The facts are that Biden has put us in a position to be more susceptible and vulnerable to global market conditions impacting gas prices. And the reason for lowering gas prices from an all time high is because we are now in a recession.

 

[francoHFW]

Specious does not even begin to describe your response yet I am certain that as loud as you are giving him credit now for gas prices dropping you will be the first one screaming that he has nothing to do with rising gas prices. The facts are that Biden has put us in a position to be more susceptible and vulnerable to global market conditions impacting gas prices. And the reason for lowering gas prices from an all time high is because we are now in a recession.

yup, the whole thing is joke.... But Biden has orchestrated an alliance of the entire world telling Putin to go to hell and fixing the shortages as well as possible. There is no recession with 500,000 new jobs in a week and 3.5% unemployment. IT'S A PANDEMIC and Putin's war DUH....

 

[LeftofLeft]

yup, the whole thing is joke.... But Biden has orchestrated an alliance of the entire world telling Putin to go to hell and fixing the shortages as well as possible. There is no recession with 500,000 new jobs in a week and 3.5% unemployment. IT'S A PANDEMIC and Putin's war DUH....

Unemployment is a single indicator. You are ignoring Inflation. If you don’t push restrictive policies aimed at US Domestic energy producers then you are not as vulnerable to what Putin does or any other despot or unstable region in the world. That’s just common sense.

 

[Independentthinker]

Just like all Democrat ideas it will do the opposite of what they claim. It also raises taxes on the poor and middle class. Another Biden promise broken.

This economist agrees with the Joint Committee on Taxation that this bull is a sham.

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says​

The Inflation Reduction Act will drive prices even higher, economist says​

Senate Majority Leader Chuck Schumer and Sen. Joe Manchin's reconciliation bill, the Inflation Reduction Act, is deceptively named since it will actually exacerbate Americans' pain from inflation while simultaneously raising taxes, an economist told Fox News.

"The greatest example of deceptive marketing today is the name that the Democrats have chosen for this piece of legislation," a research fellow at the Heritage Foundation, EJ Antoni, told Fox News. "It does absolutely nothing to address the problem of inflation."

The Inflation Reduction Act, which Manchin and Schumer announced Wednesday, is a slimmed down version of President Biden’s Build Back Better Act with a $433 billion price tag, most of which will be spent on climate provisions. The Committee on Taxation estimates that it will raise $739 billion through a variety of measures, including a minimum tax rate on large corporations and enhanced IRS enforcement.

"It does nothing to address the problem of inflation and instead only exacerbates the existing high prices and will drive prices even higher," Antoni told Fox News. "It's just adding insult to injury."

"Inflation is fundamentally too much money relative to the amount of goods and services in the economy," Antoni told Fox News. "So, if you're just going to raise taxes, all you've done at that point is transfer money from one person to another, the taxpayer to the government."

But you haven't actually changed the amount of goods and services relative to the amount of money in the economy," he continued. "So it does nothing to fight inflation."

Antoni also said the higher taxes will impact consumers.


There will be taxes on energy that will be passed through to the consumer at all different levels, not only in the purchase of energy itself, but because energy affects everything we do and everything we buy," Antoni said. "Those prices will trickle down into everything else, just as we've seen higher prices for diesel and gasoline over the last 18 months trickle down everywhere else into consumers purchases."

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says

An economist said the Inflation Reduction Act is an example of deceptive marketing and will exacerbate the pain felt by Americans struggling with inflation.

www.foxnews.com

Not to worry. I just read today that starting in 2025 drug prices will be lower.

 

[Jim H - VA USA]

Just like all Democrat ideas it will do the opposite of what they claim. It also raises taxes on the poor and middle class. Another Biden promise broken.

This economist agrees with the Joint Committee on Taxation that this bull is a sham.

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says​

The Inflation Reduction Act will drive prices even higher, economist says​

Senate Majority Leader Chuck Schumer and Sen. Joe Manchin's reconciliation bill, the Inflation Reduction Act, is deceptively named since it will actually exacerbate Americans' pain from inflation while simultaneously raising taxes, an economist told Fox News.

"The greatest example of deceptive marketing today is the name that the Democrats have chosen for this piece of legislation," a research fellow at the Heritage Foundation, EJ Antoni, told Fox News. "It does absolutely nothing to address the problem of inflation."

The Inflation Reduction Act, which Manchin and Schumer announced Wednesday, is a slimmed down version of President Biden’s Build Back Better Act with a $433 billion price tag, most of which will be spent on climate provisions. The Committee on Taxation estimates that it will raise $739 billion through a variety of measures, including a minimum tax rate on large corporations and enhanced IRS enforcement.

"It does nothing to address the problem of inflation and instead only exacerbates the existing high prices and will drive prices even higher," Antoni told Fox News. "It's just adding insult to injury."

"Inflation is fundamentally too much money relative to the amount of goods and services in the economy," Antoni told Fox News. "So, if you're just going to raise taxes, all you've done at that point is transfer money from one person to another, the taxpayer to the government."

But you haven't actually changed the amount of goods and services relative to the amount of money in the economy," he continued. "So it does nothing to fight inflation."

Antoni also said the higher taxes will impact consumers.


There will be taxes on energy that will be passed through to the consumer at all different levels, not only in the purchase of energy itself, but because energy affects everything we do and everything we buy," Antoni said. "Those prices will trickle down into everything else, just as we've seen higher prices for diesel and gasoline over the last 18 months trickle down everywhere else into consumers purchases."

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says

An economist said the Inflation Reduction Act is an example of deceptive marketing and will exacerbate the pain felt by Americans struggling with inflation.

www.foxnews.com

Biden recently set himself up for this eventuality by announcing that inflation is 0% and repeating it several times.

I wonder if they will explain why we need to spend $0.74 Trillion in a lame attempt to lower 0% inflation?

 

[basquebromance]

 

[Nostra]

Inflation is basically about your hero Putin disrupting wheat and gas production.... And whatever causes supply chain crises...

You are such a good little lemming.

 

[francoHFW]

You are such a good little lemming.

Change the channel get off the conspiracy nut job Internet and rejoin reality, brainwashed functional moron. No election fraud no vax fraud no conspiracies at all just the informed people versus the scumbag swine and their dupes as always...