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re: CPI numbers still hot inflation
Posted on 4/10/24 at 9:33 am to SlowFlowPro
Posted on 4/10/24 at 9:33 am to SlowFlowPro
quote:
So you think the trillions and trillions Trump printed in addition to his QE/ZIRP policy continuation, in addition to increasing our normal debt every year, had no impact on inflation?
Obviously Trump is a better candidate than Biden. However, to simply ignore Trump’s spending as a contributing effect on inflation is economic illiteracy or willful ignorance. And it wasn’t just COVID. Trump was running trillion dollar deficit in 2019 ($974 Billion) and taking COVID out the equation, his budget deficit in 2020 was $1.02 Trillion.
This is where reality and one’s inability to think critically and independently due to an subservience to a personality meet.
3
Posted on 4/10/24 at 9:36 am to Ten Bears
quote:
IMHO, POTUS Trump is a Big Spender, and he did spend big. He is definitely not what I would call a "fiscal conservative".
quote:
Obviously Trump is a better candidate than Biden. However, to simply ignore Trump’s spending as a contributing effect on inflation is economic illiteracy or willful ignorance. And it wasn’t just COVID. Trump was running trillion dollar deficit in 2019 ($974 Billion) and taking COVID out the equation, his budget deficit in 2020 was $1.02 Trillion.
This is where reality and one’s inability to think critically and independently due to an subservience to a personality meet.
This thread is NOT going the way the people who tried to call me out thought it would
Posted on 4/10/24 at 9:43 am to Ten Bears
quote:
Obviously Trump is a better candidate than Biden. However, to simply ignore Trump’s spending as a contributing effect on inflation is economic illiteracy or willful ignorance. And it wasn’t just COVID. Trump was running trillion dollar deficit in 2019 ($974 Billion) and taking COVID out the equation, his budget deficit in 2020 was $1.02 Trillion.
At this point, in terms of the standard budget, it's hard to call any budget in the last 10 years or the next "The President's".
Almost all of the shite is legally mandated WITH legally mandated rates of increase to the point that if all a President and congress do is stand pat, we are looking at increasing debt and deficits.
Sadly, I'm left to basically just hope that whomever hops in the driver's seat as we go over the cliff just has the courtesy to stop accelerating.
Posted on 4/10/24 at 10:31 am to Ten Bears
I think it really was the COVID spending, which isn't exactly a strong defense of Trump, but it is important to note.
Spending under Trump was basically in line with Obama post-recession.
Spending as a percent of GDP was 20.3% in 2017, 19.9% in 2018, and 20.7% in 2019.
That is in line with spending under Obama post great recession, but higher than what we saw prior to Obama until the 80s and early 90s.
Spending under Joe is up significantly in the last 2 years (being post-COVID).
LINK
Spending under Trump was basically in line with Obama post-recession.
Spending as a percent of GDP was 20.3% in 2017, 19.9% in 2018, and 20.7% in 2019.
That is in line with spending under Obama post great recession, but higher than what we saw prior to Obama until the 80s and early 90s.
Spending under Joe is up significantly in the last 2 years (being post-COVID).
LINK
This post was edited on 4/10/24 at 10:32 am
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