Flyjunky12
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What great timing for breaking news, fking hilarious. That’s Murphy’s law when you try to put sprinkles on a turd! 
MSNBC
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bullskin
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The Feds would like to keep inflation near 2%, yet it tripled in 2016 and remained well above target until Covid, at which time it exploded by another 400% thanks to billions of dollars of relief money. And still Congress refuses to call in those unspent Covid dollars, even as we hear advertisers soliciting businesses to register claims on this money that they clearly no longer need.
www.usinflationcalculator.com
Current US Inflation Rates: 2000-2024
The annual inflation rate for the United States was 3.5% for the 12 months ending March, compared to the previous rate of 3.2%, according to U.S. Labor Department data published on April 10, 2024. The next inflation update is scheduled for release on May 15 at 8:30 a.m. ET, providing information...
www.usinflationcalculator.com
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Homer
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WTF are you talking about??.....did you even look at the chart or article you posted??The Feds would like to keep inflation near 2%, yet it tripled in 2016 and remained well above target until Covid, at which time it exploded by another 400% thanks to billions of dollars of relief money. And still Congress refuses to call in those unspent Covid dollars, even as we hear advertisers soliciting businesses to register claims on this money that they clearly no longer need.
Current US Inflation Rates: 2000-2024
The annual inflation rate for the United States was 3.5% for the 12 months ending March, compared to the previous rate of 3.2%, according to U.S. Labor Department data published on April 10, 2024. The next inflation update is scheduled for release on May 15 at 8:30 a.m. ET, providing information...
notdonhunting
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Democrats don't believe facts even when the themselves post them
Oh sorry bullskin I mean you "Republicans"
hossblur
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The Feds would like to keep inflation near 2%, yet it tripled in 2016 and remained well above target until Covid, at which time it exploded by another 400% thanks to billions of dollars of relief money. And still Congress refuses to call in those unspent Covid dollars, even as we hear advertisers soliciting businesses to register claims on this money that they clearly no longer need.
Current US Inflation Rates: 2000-2024
The annual inflation rate for the United States was 3.5% for the 12 months ending March, compared to the previous rate of 3.2%, according to U.S. Labor Department data published on April 10, 2024. The next inflation update is scheduled for release on May 15 at 8:30 a.m. ET, providing information...
Inflation is up 17.9% Since Jan, 2021
30% for food
bullskin
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Will someone who cares please explain the concept of percentages to Homer?
bullskin
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That is consistent with the data shown, give or take a point. Not sure how that relates to my post...
bullskin
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Yes. My point, exactly.
notdonhunting
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So what is your point?
bullskin
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I wrote that inflation tripled in 2016 and then quadrupled again during Covid (2021), and Congress has missed even no-brainer opportunities at reform like rescinding unused stimulus passed during the pandemic.
Between the lines, my point is that inflation will remain high. despite the fact that the party in power has always tried to put lipstick on that pig. No member of Congress seems willing to shut the spigot to his own constituents, and devaluing the dollar is perhaps their best hope to postpone the debt crisis (short of increasing GNP and taxes) and their ability to buy votes.
What did you think I meant when I wrote "it [inflation] tripled in 2016 and remained above target until Covid, at which time it exploded by another 400%?" I am surprised that some found these facts controversial.
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notdonhunting
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If you figured the gain of inflation over Obama's last 4 years it was 5.3%, and over Trump's 4 years it was 7.8%. That is not triple, and the gain for Biden's 4 years up to January has been 18%
Look at your own chart.
I will agree that it is Congress that continues to increase spending, but it is the President that is in charge.
Look at your own chart.
I will agree that it is Congress that continues to increase spending, but it is the President that is in charge.
bullskin
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Your focus appears to be in comparing administrations rather than the events that contribute to inflation rates. If that is the case, then I would point out that, although Trump was elected in Nov 2016, he cannot be held responsible for the increase I pointed out between 2015 and 2016 since that year was already baked in the cake by Obama. Actions taken by any president may impact the economy for years, and I would suggest that much of the increase in 2021 was similarly pre-determined by increases in spending beyond Biden's control. Nevertheless, it was his watch, so he will forever wear that label.
If comparing administrations is the goal, then the data below may help distinguish between the good, the bad, and the ugly. Dems figure twice among the top three miscreants, but Republicans appear five times among the top seven, six among the top ten, etc. We can select a cut-off point to make one party look better, or worse, but the fact remains that both have had their moments. Carter and Ford were impacted by the oil shock, the lack of international competition, and a labor union work force--all factors beyond their control. Biden and those who follow will suffer the consequences of overspending and lack of productivity during and after Covid, much like Bush Jr. had to swallow the costs of war and bailout to large businesses.
When it comes to inflation, I would suggest that it depends more upon economic considerations beyond our control that the occupant of the White House. If one is determined to identify one party that wears it well, then I believe you will spend a long time searching.
notdonhunting
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Only a idiot would believe the high inflation rate since 2021 is not a result of Biden's administration bad decisions.
He himself calls it Bidennomics
He himself calls it Bidennomics
bullskin
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Biden's overspending is certainly part of it. As was Trump's. And neither happens in a vacuum, without Congress. But only an idiot would deny that an economic meltdown during a global pandemic, weak supply chains, and two wars do not contribute to its lasting effect.
COVID Money Tracker
See how much COVID relief has been spent and where the money has gone with the #COVIDMoneyTracker tool.
grizzly
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Yeah, inflation had nothing to do with Trump's record deficit spending while simultaneously badgering Powell (whom Trump appointed) to keep the Fed Rate artificially low (even negative).
The economic policy was zero percent interest and $7 Trillion in cash to the public. Who could've seen inflation coming
Biden's clearly a buffoon, but to say Trump didn't have a significant hand in our current economic situation is just wrong.
The economic policy was zero percent interest and $7 Trillion in cash to the public. Who could've seen inflation coming
Biden's clearly a buffoon, but to say Trump didn't have a significant hand in our current economic situation is just wrong.
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notdonhunting
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If Biden cared about the American citizens, he would have said it is going to be rough fir all of us but we are tightening the belt up and we are going to get through this.Biden's overspending is certainly part of it. As was Trump's. And neither happens in a vacuum, without Congress. But only an idiot would deny that an economic meltdown during a global pandemic, weak supply chains, and two wars do not contribute to its lasting effect.
COVID Money Tracker
See how much COVID relief has been spent and where the money has gone with the #COVIDMoneyTracker tool.www.covidmoneytracker.org
notdonhunting
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Kepp up with the whataboutism'sYeah, inflation had nothing to do with Trump's record deficit spending while simultaneously badgering Powell (whom Trump appointed) to keep the Fed Rate artificially low (even negative).
The economic policy was zero percent interest and $7 Trillion in cash to the public. Who could've seen inflation coming
View attachment 143287View attachment 143288View attachment 143289View attachment 143290View attachment 143291
Biden's clearly a buffoon, but to say Trump didn't have a SIGNIFICANT hand in our current economic problems is just wrong.
You are real professional.
grizzly
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@notdonhunting in #14 - compares inflation from Obama to Trump to Biden
Sees post #20 and doesn't like his golden idol being exposed - attacks the messenger
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bullskin
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Agreed. And every other politician would be motivated to figure out how to pay off the bill that they have accumulated in the past three decades. And, if their supporters really cared, they would be searching for candidates to replace the ones who put us in this position. But that ain't happening, is it? All I see are toadies pointing their fingers at one another while insisting it was the other guy's fault.
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notdonhunting
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Bullskin was saying Trump inflation was 3x higher than Obama' s, just pointing out the facts that it wasn't, according to his chart.@notdonhunting in #14 - compares inflation from Obama to Trump to Biden
Sees post #20 and doesn't like his golden idol being exposed - attacks the messenger
Maybe you should follow along, not just come on and pound your chest.
bullskin
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Actually, I said that inflation jumped from 2015 to 2016 (both of which fall under the Obama administration), and then again in 2021. You are the one choosing to associate that increase with each presidential administration, even as I made the case that the inflation rate at any point in time has little to do with the man inhabiting the White House. If you want to make the case that, somehow, Trump is responsible for an increase that precedes his own election, then knock yourself out, but I think that your confidence in Trump's superpowers must exceed even his own.
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