U.S. Annual Inflation rose to 6.8% in November - the highest in 40 years
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Anonymous
m So we have a squad that wants us to be like Venezuela and a GOP that thinks Turkey, Brazil, and Russia are great role models. |
Anonymous
it's a speding and taxing problem and a taxing problem mostly. GOP is hard core tax cutting, but cut spending only on programs that their $$$$$ donors could not care less (education, healthcare, medicare-medicaid and so on). every GOP presidency in the past decades saw huge tax cuts to high earners and same or increase spending on defense, support for oil and so on. see Bush who passed a tax cut and started two wars at the same time putting them on credit. similarly, Trump passed gigantic tax cuts for super rich, while giving the defense department even more than it requested but cutting foreign aid that is a negligible part of the budget but help the US keep its clout and influence. if the tax cuts passed by the GOP were even just partially reversed, we would be in better shape. we are becoming one of those third world countries where rich people live in gated communities and send their kids to private schools and use private hospitals, and everybody else live in poverty. that's usually the recipe to eventually get a Venezuela - style revolution. |
Anonymous
the US is actually in a similar situation then other Western countries, republicans try to paint the picture that the US is an outlier just because they cannot blame Biden if other countries are in a similar situation. annual inflation in italy is actually 3.7% https://www.money.it/Italia-inflazione-novembre-2021 , which is a lot considering that at the start of the pandemic the economy was basically in a recession with near zero inflation. |
Anonymous
That is literally HALF the U.S. inflation numbers. Do you understand that? NOT. F&&KING. GOOD. |
Anonymous
So we can't afford to be the world's policemen anymore? We left Afghanistan, what happened to the money that was being spent there? |
Anonymous
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Money?
You mean the stuff that can be printed at will? Yeah….. that’s not money. |
Anonymous
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Shoulda, woulda, coulda listened to us.
https://www.cnn.com/2021/12/17/economy/inflation-build-back-better/index.html Consumer prices are already rising at the fastest pace in nearly 40 years. Inflation may get worse before it gets better and that would further erode support for President Joe Biden's Build Back Better legislation, Goldman Sachs says. The Wall Street bank told clients Thursday that the chances Biden's signature legislation gets enacted at all "looks lower." |
Anonymous
Here is Jason Furman, who worked in the Obama administration, contradicting you and saying that Biden's policies have made the situation worse vis-a-vis the Eurozone. |
Anonymous
NP. Recheck that math. |
Anonymous
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Taxes get cut and raised
Spending never gets cut. Across the board cuts are needed. 10 percent cut to every expense and check. Do it for the country |
Anonymous
Thank you |
Anonymous
| Part of the inflation is a surge of pent-up demand, which will taper back off, another part of it is pandemic-related supply chain issues which will also get sorted out. Also, it should be noted that wages have gone up significantly due to demand for labor. https://tradingeconomics.com/united-states/wage-growth |
Anonymous
Yeah, the administration was saying it would 'taper off' back in August except they called it transitory. Back then inflation was 4%. Now its 7% and judging by the panicked turtle-in-shell reactions from the Biden surrogates I have a feeling they damned well know its going to be 10% in January 2022. Guess ignoring it and the supply chain port crisis didn't work out quite the way they wanted. 
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Anonymous
sounds a lot like arthur burns |
Anonymous
A lot has been done on the port crisis. What are you people going to do when your narratives run out of steam? |