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re: Biden claimed on Wednesday that inflation was “skyrocketing” when he took office
Posted on 4/11/24 at 8:21 pm to David_DJS
Posted on 4/11/24 at 8:21 pm to David_DJS
The national debt has grown by over $6.24 trillion since Biden took office in 2021, largely driven by COVID-19 relief measures. If we measure from the start of the new fiscal year on October 1st, 2021 the debt has grown by over $5.56 trillion under President Biden.
So did inflation "skyrocket" before Biden took office? If so, show me the inflation data to support your argument
So did inflation "skyrocket" before Biden took office? If so, show me the inflation data to support your argument
Posted on 4/11/24 at 10:34 pm to minister of truth
quote:
No I do not think it kicked-off the surge in inflation junior. I think it added to it though.
So Trump's $5T in deficit spending the two years before Biden's $5T in deficit spending didn't start the spike in inflation. DT's $5T somehow leapfrogged Biden's and only added to inflation that Biden's $5T started.
That's brilliant.
quote:
But David, the weeping TDS bitch, changed the topic to Trump like you always do. Seek psychological help since tigerdroppings obviously isn’t helping
There's only one of us coming across like an emotional midget, and it ain't me. Why are you so bothered by my posting that Covid relief kicked off inflation, and Trump was steering the ship at the beginning of that? Simple facts shouldn't bother you so much.
quote:
The national debt has grown by over $6.24 trillion since Biden took office in 2021, largely driven by COVID-19 relief measures. If we measure from the start of the new fiscal year on October 1st, 2021 the debt has grown by over $5.56 trillion under President Biden.
A few things on this - Trump's last fiscal year ended on 9/30/2021, so looking at deficits for the time a president is in office is a bit off. Not to mention precision in assigning deficits to specif presidents (years) is nearly impossible given that spending called for in legislation isn't immediate. For example, Biden's spending won't end on January 20, 2025. It'll go on for years.
But the broad strokes - Trump's last two fiscal years saw something north of $5T in deficit spending, which is pretty much what we've gotten in Biden's first three years. The upshot is as I've posted - Covid spending was ridiculous and kicked off inflation that Biden has happily poured jet fuel on.
quote:
So did inflation "skyrocket" before Biden took office? If so, show me the inflation data to support your argument
No. That's not what I have argued. I've argued that the inflation spike we've seen the last 3 years (and will persist) is in substantial part the result of wild fedgov deficit spending that started under Trump and continues under Biden.
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