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Federal Government still doesn't think that massive spending fueled record inflation.....
Posted on 6/17/22 at 1:19 pm
Posted on 6/17/22 at 1:19 pm
quote:
Biden Denies Massive Spending Fueled Record Inflation: ‘The Idea Is Bizarre’
LINK
President Biden continues to absolve himself of responsibility for the fact that his gargantuan $1.9 trillion pandemic-relief package likely contributed to the current record-breaking inflation.
“You could argue whether [the American Rescue Plan] had a marginal, minor impact on inflation,” Biden told the Associated Press in an interview Thursday. “I don’t think it did. And most economists do not think it did. But the idea that caused inflation is bizarre.”
Biden’s comments stand in stark contrast to a speech he gave in November 2021, when he acknowledged that the “checks for $1400” the government distributed to Americans, in addition to many other relief provisions, could pump up inflation.
I feel like everyone in charge seems to either not understand what's happening or just don't really care.
I still can't believe that The Fed was still in a accelerated corporate bond buying mode as late as March of this year.
This post was edited on 6/17/22 at 1:21 pm
18
Posted on 6/17/22 at 1:22 pm to member12
They must think we are all incredibly stupid.
Posted on 6/17/22 at 1:26 pm to member12
The incredibly amount of money the feds printed for the historic government giveaways caused our inflation.
Posted on 6/17/22 at 1:26 pm to member12
quote:
I feel like everyone in charge seems to either not understand what's happening or just don't really care.
They care and understand, but they care more about their political party and understand how f'd we are.
Posted on 6/17/22 at 1:37 pm to member12
That fricking guy’s statements are so divorced from reality at this point that I’m expecting him to claim the sky is purple in a press conference any day now.
Posted on 6/17/22 at 1:41 pm to member12
quote:
And most economists do not think it did.
I love how they use these general terms. The also do this with covid and global warming when they talk about "the scientists" or "the science"
Posted on 6/17/22 at 1:43 pm to member12
Everyday I realize that the shop VEEP could be a documentary.
Posted on 6/17/22 at 1:46 pm to member12
quote:
Federal Government still doesn't think that massive spending fueled record inflation....
Umm...then what is causing inflation worldwide then? Did the central banks in all countries print money like ours did?
Jerome Powell is responsible for 90% of the inflation problems we currently have in America. The other 10% can be blamed on the American Rescue Plan, Biden not opening up oil permits and other anti-big oil policies of his administration.
Posted on 6/17/22 at 1:57 pm to member12
Biden being referred to as "President" is bizarre. No way that turd got more votes than Obama.
Posted on 6/17/22 at 1:59 pm to member12
i keep waiting for the galactic punk'd show to reveal itself
Posted on 6/17/22 at 2:08 pm to member12
Our politicians are like those panhandlers at intersections always asking for money. They get some money and blow it and come back and ask for more.
Except in the case of our government they have a gun and they ain't asking.
Except in the case of our government they have a gun and they ain't asking.
Posted on 6/17/22 at 3:00 pm to member12
quote:
I feel like everyone in charge seems to either not understand what's happening or just don't really care.
They understand and it was planned.
Posted on 6/17/22 at 3:40 pm to member12
quote:
Federal Government still telling us that massive spending fueled record inflation in a feeble attempt at political salvation
FIFY
Posted on 6/17/22 at 4:15 pm to member12
It’s an intentional take down of the USA. Pay attention. The evidence is all around you.
Posted on 6/17/22 at 4:17 pm to member12
quote:
Biden Denies Massive Spending Fueled Record Inflation: ‘The Idea Is Bizarre’
He knows his constituents are retarded. They'll believe it.
Posted on 6/17/22 at 4:27 pm to member12
If you haven't caught on this administration will never take blame for anything. From "I will have to circle back to that" and now there's a stutterer when she gets cornered. Biden is clueless and just rambles on.
Posted on 6/17/22 at 4:42 pm to member12
These people are such naturals at lying that they eventually actually start to believe their own lies.
This post was edited on 6/17/22 at 4:43 pm
Posted on 6/17/22 at 7:19 pm to member12
Government spending definitely affected inflation, but by far the driver of the inflation we're seeing today is on the supply side.
The cost of goods has shot up because companies cant operate due to the covid lockdowns and because people are quitting and changing jobs.
The cost of goods has shot up because companies cant operate due to the covid lockdowns and because people are quitting and changing jobs.
Posted on 6/17/22 at 7:41 pm to member12
Lot of money threw out under Trump’s time in office.
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