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Biden lowers inflation to 3.1%

stealthycat said:
if it goes UP blame someone else
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CPI and core when down on a YoY basis. Had you been capable of reading for comprehension and not confirmation, you wouldn't have made that idiotic post. And yet here we are.
 
jaypatriot said:
Donald Trump (2017-2021) Inflation was just 1.4% during his years, which is the second lowest.Jan 20, 2024
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Yes, that's because the pandemic caused inflation to drop significantly in 2020. He's also one of the few presidents who *cough* lost and did not serve a 2nd term, which means the impact of that downturn was more pronounced.

Prior to that, inflation was an average of 2.1%. That's basically the average since 1982 or so.

Oh, and Presidents have very little impact on inflation -- the Federal Reserve has the biggest impact of any government entity. E.g. stimulus spending by Bush 43, Obama, Trump and Biden barely filled in the gaping holes in demand caused by the recessions and aftermath during their terms.
 
multivita-man said:
Explain how Biden had any control over this.
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if "Biden lowers inflation to 3.1%" and gets credit for that, why doesn't he get credit today as well?

explain that, because I don't remember you jumping on the posters here giving Biden credit and telling them they were wrong in doing that (maybe I missed it) ??
 
stealthycat said:
if "Biden lowers inflation to 3.1%" and gets credit for that, why doesn't he get credit today as well?

explain that, because I don't remember you jumping on the posters here giving Biden credit and telling them they were wrong in doing that (maybe I missed it) ??
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The president, in most circumstances, can't control inflation one way or the other. That's not to say he has no impact over it. I think Biden probably contributed to inflation modestly with his 2021 stimulus bill that he and Democrats signed, but he also decreased price at the pump by enabling the expansion of drilling and by releasing petroleum from the strategic petroleum reserve. He also worked with ports of entry, trucking companies, and railways to get supply chains back and functional - at least in the United States.

Unfortunately, there isn't much Biden can do about pandemic-era savings that haven't been depleted, about 10+ years of ultra-low interest rates and expanded money supply, and wage gains. The most significant among these is the decade plus of expanded money supply.
 
multivita-man said:
The president, in most circumstances, can't control inflation one way or the other. That's not to say he has no impact over it. I think Biden probably contributed to inflation modestly with his 2021 stimulus bill that he and Democrats signed, but he also decreased price at the pump by enabling the expansion of drilling and by releasing petroleum from the strategic petroleum reserve. He also worked with ports of entry, trucking companies, and railways to get supply chains back and functional - at least in the United States.

Unfortunately, there isn't much Biden can do about pandemic-era savings that haven't been depleted, about 10+ years of ultra-low interest rates and expanded money supply, and wage gains. The most significant among these is the decade plus of expanded money supply.
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I don't disagree with any of that actually BUT Democrats pump it when anything goes good, and they blame when it goes bad

this thread was Biden lowers inflation ... now its up, so I think its fair to say Biden raised inflation
 
stealthycat said:
Biden increases inflation


www.foxbusiness.com

Inflation rises faster than expected in January as high prices persist

The Labor Department released the closely watched January consumer price index report Tuesday, revealing just how hot inflation was running last month.
www.foxbusiness.com www.foxbusiness.com

Inflation rises faster than expected in January as high prices persist​

Labor Department releases key January inflation report​

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Inflation is still at 3.1%. From that article:
The Labor Department said Tuesday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.3% in January from the previous month. Prices climbed 3.1% from the same time last year.
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99percenter said:
No trump did
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How can you post a statistic like that without showing your source?
Show me where you found that ridiculous inflation rate under Trump. See the source of my data below.

From LBJ to Biden: How the Economy Performed Under Each President​

Bob Haegele
January 20, 2024·8 min read


Alex Brandon/AP / Shutterstock.com

Alex Brandon/AP / Shutterstock.com

Donald Trump (2017-2021)​

  • GDP growth: 2.6%
  • Unemployment rate: 6.4%
  • Inflation rate: 1.4%
  • Poverty rate: 11.90%
  • Real disposable income per capita: $48,286
  • Disposable income per capita (adjusted for inflation): $48,286
When looking at the numbers, Donald Trump is mostly better than average. Inflation was just 1.4% during his years, which is the second lowest. The poverty rate during his years also ties him with Ford for the second lowest on this list. GDP growth was also fourth highest for him. At over 6% though, unemployment was on the high end for him, putting him fifth highest in that category.

finance.yahoo.com

From LBJ to Biden: How the Economy Performed Under Each President

The economy is big, complex and difficult for most people to understand. In reality, the president may not have as much control over the economy as people tend to think -- the Federal Reserve, for...
finance.yahoo.com finance.yahoo.com
 
jaypatriot said:
How can you post a statistic like that without showing your source?
Show me where you found that ridiculous inflation rate under Trump. See the source of my data below.

From LBJ to Biden: How the Economy Performed Under Each President​

Bob Haegele
January 20, 2024·8 min read


Alex Brandon/AP / Shutterstock.com

Alex Brandon/AP / Shutterstock.com

Donald Trump (2017-2021)​

  • GDP growth: 2.6%
  • Unemployment rate: 6.4%
  • Inflation rate: 1.4%
  • Poverty rate: 11.90%
  • Real disposable income per capita: $48,286
  • Disposable income per capita (adjusted for inflation): $48,286
When looking at the numbers, Donald Trump is mostly better than average. Inflation was just 1.4% during his years, which is the second lowest. The poverty rate during his years also ties him with Ford for the second lowest on this list. GDP growth was also fourth highest for him. At over 6% though, unemployment was on the high end for him, putting him fifth highest in that category.

finance.yahoo.com

From LBJ to Biden: How the Economy Performed Under Each President

The economy is big, complex and difficult for most people to understand. In reality, the president may not have as much control over the economy as people tend to think -- the Federal Reserve, for...
finance.yahoo.com finance.yahoo.com
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Trump wasn’t president but his polices were responsible
 
99percenter said:
Trump wasn’t president but his polices were responsible
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Of course you are right. It is always:

TRUMP! TRUMP!TRUMP!TRUMP!TRUMP!TRUMP!TRUMP!

You never go wrong blaming Trump for anything you feel is wrong in this country.
 
Trump and Biden weren't mainly responsible for the high inflation. The pandemic itself was mainly responsible for the high inflation.
 
President Biden didn't raise or lower global inflation by any meaningful and factual metric, nor did Donnie that's just reality 🤷‍♂️
 
stealthycat said:
Biden is the President

he gets all the credit
he should be getting all the blame too

the cherry picking is ridiculous
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CPI and it's core both declined on a YoY basis. Why is that difficult for you to register?
 
Crunchtime said:
When inflation went up Democrats said Biden has nothing to do with the economy. Now that inflation is decreasing a tad you give Biden credit for it. Why did he wait so long? And why are groceries and gasoline prices still through the roof? When does Joe think I’ll be able to afford rib eyes for me and my wife again?
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When inflation was climbing, it was Biden's fault. Now that inflation rate is falling, it has zero to do with Biden.

Seems as if the Biden haters want it both ways.
 
jaypatriot said:
Trump did what? Lower the inflation rate to 2 percent?

Donald Trump (2017-2021) Inflation was just 1.4% during his years, which is the second lowest.Jan 20, 2024

How the Economy Performed Under Each President​

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Yeah, Trump did it, huh? Inflation was 2% all through the Obama Administration.



fredgraph.png

Also remember that Trump had the worst job growth record since Hoover.
 
MTAtech said:
Yeah, Trump did it, huh? Inflation was 2% all through the Obama Administration.



fredgraph.png

Also remember that Trump had the worst job growth record since Hoover.
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Another Trump critic. Whose rate of inflation was lower?
Trump or Obama? They were both low. Biden's is much higher.
But to acknowledge your TDS:
TRUMP! TRUMP! TRUMP! TRUMP! TRUMP! TRUMP! TRUMP!
We have to blame someone for the problems in our society.

=====================================

Barack Obama (2009-2017)​

  • GDP growth: 1.0%
  • Unemployment rate: 4.7%
  • Inflation rate: 2.5%
  • Poverty rate: 14.00%
  • Real disposable income per capita: $42,914
  • Disposable income per capita (adjusted for inflation): $48,811
finance.yahoo.com

From LBJ to Biden: How the Economy Performed Under Each President

The economy is big, complex and difficult for most people to understand. In reality, the president may not have as much control over the economy as people tend to think -- the Federal Reserve, for...
finance.yahoo.com finance.yahoo.com
 
jaypatriot said:
Trump or Obama? They were both low. Biden's is much higher.
But to acknowledge your TDS:
TRUMP! TRUMP! TRUMP! TRUMP! TRUMP! TRUMP! TRUMP!
We have to blame someone for the problems in our society.
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Trump sucks... get over it!
jaypatriot said:

Barack Obama (2009-2017)​

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The President that navigated a collapse in financial markets. Your narrative has no power.
 
jaypatriot said:
Another Trump critic. Whose rate of inflation was lower?
Trump or Obama?
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Sigh. Again, Trump's average inflation rate is thrown off by the pandemic. The inflation rate during Obama's term, by the way, is exactly the Fed target.

And again, Presidents have very little control over inflation rates. The agency with the most influence is The Federal Reserve, which is an independent agency.

I.e. your attempts to turn this into some sort of d***-measuring contest are less impressive than you think.
 
Visbek said:
Sigh. Again, Trump's average inflation rate is thrown off by the pandemic. The inflation rate during Obama's term, by the way, is exactly the Fed target.

And again, Presidents have very little control over inflation rates. The agency with the most influence is The Federal Reserve, which is an independent agency.

I.e. your attempts to turn this into some sort of d***-measuring contest are less impressive than you think.
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Sorry you're not impressed with cited statistics that make Biden/Obama look mediocre and Trump look good.
Find your own stats to refute my published stats about inflation rates.
 
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