Quote:
Originally Posted by SunnySide
man .. we are going in circles on this. Maybe we need an inflation thread. Remember, I dont understand this stuff, I only know what i read.
CBO said the inflation act would only decrease inflation by .1 to .2% but it would reduce deficit. The tax increase on middle class wasnt a direct tax but an indirect one bc companies would pass increased tax burden to employees.
Jerome Powell ... the head of the Fed .. the guy in charge of making sure inflation doesnt happen .. the guy who doesnt have a D or an R next to his name even though he was named by Trump .. is they most responsible person for preventing inflation. He admitted he messed up. Now a Dem president has him jacking up the interest rate quicker and higher than ever before .. right before elections. Powell is doing Biden zero favors. Everything I read, we need short term pain to avoid long term pain.
Biden is absolutely taking a bullet from covid coming due and global inflation. Sucks for him. Heavy is the crown. 2024 when we are in a recovery, who ever is wearing the crown will be enjoying an improving economy with good numbers to point to .. that they had no participation in.
Dem spending -- dude, we cant pass shit through the senate bc of sinema/manchin siding with all republicans .. so what dem spending outside of the Inflation reduction Act? The BBB act got killed. Ukraine ... yeah Im kinda for supporting Ukraine and watching russia military bled.
Global inflation right now. US is doing better than most.
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So glad we agree the inflation reduction act does .1 % to help inflation (nothing) and raises taxes on the middle class.
We spend 1.9 trillion and then attempt to pass more spending and it doesn’t work… then do student loan handouts which will cost another 500 billion at the minimum estimate. These are just play numbers to Dems. 2.5 trillion…not a big deal I guess.
Not only did Biden lie about inflation when him and his administration looked at the data to the American people but attempted to spend, purposely restrict energy production another key inflation driver and then tax energy producers on top of it.
You raise interest rates, cut spending, and deregulate business to drive more competition. That’s attacking inflation
We don’t need stimulation like federal student loan handouts, which shocker:
https://twitchy.com/sarahd-313035/20...middle-finger/
In fact, 73% of anticipated recipients say they expect to spend their debt forgiveness on non-essential items, including travel, dining out and new tech, according to a recent survey from Intelligent.com.
Thanks middle class for bailing out the people who need help the least!