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this post was submitted on 09 Nov 2024
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No Stupid Questions
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Pretty sure inflation went crazy under biden
Clinton left a booming economy and projections to reduce, if not eliminate, the national debt in 10 years. Then came another Bush. Bush left a shitty economy for Obama, through bullshit tax breaks for the rich during a time of bullshit military spending among other dumb actions. Obama fixed things. trump inherited a booming economy from Obama, and slowly (maybe quickly) ruined it through gross incompetence. Biden inherited a shit economy and inflation from that moron, trump. After dealing with fallout from stupid trump policies (that's being generous), Biden managed to turn things around and the economy was once again doing pretty good. Now that dipshit trump will give his idiot voters and the rest of us another shitty economy that the next Dem will have to try to fix. The wheels on the bus go round and round.
Consumers don’t relate low inflation to bad inflation but as you can see the fed wasn’t able to hit its target all of 2020. That’s a really bad sign by itself, the US is very lucky that it never got a true recession/depression.
Caused by Trump over stimulating the economy and injecting cash while it was booming.
Inflation was on the rise before Trump left office. It continued under Biden for the first two years of his term, but he managed to get key legislation passed in that span of time that has measurably reduced inflation. It's still not back down to what it was pre-pandemic, but we are leading almost every other western democracy in that metric. It really is incredible that people are giving Biden shit for the economy when he is actively fixing the problem, and it shows that the Democrats have a tremendous failure in their ability to do effective messaging.
If it doesn't feel like inflation has been improved under Biden, that's because the price you pay at the gas pump or the grocery store has more to do with what they chose to set their prices at than what the current rate of inflation is. The "vibe economy" is real, but they aren't casting the blame for it at the right people. For once, government did it's job. Who knows if the current trend will continue under Trump, but given that he set off the massive inflationary spending spree by injecting a ton of cash into a booming economy with stimulus checks, I imagine he's not going to care much about the fundamentals of a healthy economy and will instead do whatever makes his donors happy.