Inflation hits 20 percent under Biden, pushing small businesses to the brink
- Thread starter NorthernHawkeye
- Start date
Average hourly earnings, 1/21 - $28.43
Average hourly earnings, 5/24 - $34.75
34.75/28.43 = 1.2223 = 22.23%
22.23% > 19.87% = Thanks Brandon!
Double-check your start date and then report back to me with your revised calculations.
Biden inherited this mess. Did u forget that part?
And that the US economy recovered faster than just about any other western economy?
My entire life, the cost of every goddam thing in this entire world has gone up every single year.
If we're going to hilariously blame Biden for today, then I choose to state every freaking president we've ever had has screwed us all over every damn minute of our lives.
If we're going to hilariously blame Biden for today, then I choose to state every freaking president we've ever had has screwed us all over every damn minute of our lives.
True, however, I expect our government to do whatever possible to mitigate those inflationary issues caused by covid spending, not exacerbate them. Student loan bailouts $147 billion to date, Inflation Reduction Act (to come up with that name for that bill should be a felony) cost $800 billion over 10 years, Biden's 2024 budget was $82.2 trillion over ten years eclipsing GDP by 24.8%
You don't get to blame covid spending when you spend money like that after covid is over.
I’m not sure what that’s supposed to mean. The cost of living has increased 20% since January 2021. No one claimed the annual inflation rate is 20%.
The thread title isn’t wrong. Your assumption about the thread title is what’s wrong.
inflation spiked in 2022 and has been steadily declining,,,how would money that was budgeted* in 2023 be one of the main driver
*if you know anything about how federal funds from legislation like that (and the infrastructure bill) gets allocated and distributed, it takes YEARS for those funds to get into the pockets of consumers
But the title doesn't claim "cost of living up 20%"
It says "inflation up 20%".
You know exactly what it means.
Well the problem is we’ve been on this path of reckless spending regardless of party since 2001. From the deficits don’t matter War Hawks. To the new government programs. To the Great Recession. Then fu ding massive tax cuts through more government spending. The list is endless. Inflation pressure has been building. Not sure what the answer is. Because neither party have any motivation to correct the issue.
Cut spending and reevaluate the tax code. The Code is outdated in terms of equability and driving economic output.
And yet somecrazyhow I was able to crack the code in my very first post of this thread. The very first sentence in the OP’s link makes it clear that he is referring to cumulative inflation since the start of Biden’s term.
Try reading articles instead of just headlines.
Bad take, this elevated cumulative inflation under Biden is bad,.. Your comment is akin to saying people die every day so there's no reason to differentiate the victims of Hitler, Stalin or Mao...
No. JP’s interpretation of the headline is wrong. He assumed it referred to the annual inflation rate. The headline did not specify the measure of inflation, but the very first line in the article did. Just because JP inferred it doesn’t mean the headline implied it.
As normally represented, the inflation rate would be akin to the speed of a vehicle, (60 MPH).. Whereas cumulative inflation would be more akin to the total distance traveled, (1,000 miles),.. You can drive at a speed of 60 MPH and eventually travel 1,000 miles,.. Joe has achieved 1,000 miles.
it's not wrong...but it's also not how inflation is typically expressed
joe biden is getting all kinds of heat for saying inflation was 9% when he took office
well, if you do the same calculation from feb 2017 to feb 2021, you get 8%
would you say its appropriate to say inflation was 8% when joe biden took office?
No, because in the very same sentence that Biden says “It was 9% when I came in…” he continues on to say “…and it’s now down around 3%.”
That rules out any possibility that he’s referring to cumulative inflation and must be referring to either the annualized inflation rate or the monthly year-over-year inflation rate.
That was a good try, though.
i'm not saying that's what biden was referring to...i'm just saying cumulative measures like the one above is not typically how inflation is expressed
headlining a post with "inflation hits 20%..." is disingenuous
When a negative thread title referencing Trump is misleading TJ bends over backwards to point out that it's incorrect. When a negative thread title referencing Biden is misleading he bends over backwards to defend it.
It's not misleading. You and jneffer need to educate yourself on the metric of year over year inflation.
its true... i don't have the nuanced, comprehensive understanding of macroeconomics as the guy who copy and pastes opinion pieces from the hill
Opinion pieces from an ALEC stooge. Take this guy about as serious as Robert Reich. He’s the conservative equivalent.
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Lol. The title of the Hannibal Lecter thread wasn’t ‘misleading,” it was blatantly false. Even you agreed on that point.
The common denominator in that thread and this thread is that both times #teamblue got snookered and both times I was the one who quickly discerned the facts and set the record straight. And both times you got pissy about the fact that I was right.
Maybe I’m just not as gullible as those guys.
Northern's title is misleading at best. But you do you. Your hypocrisy is always entertaining.
Exactly. Metrics are important. Year to year coup attempts are way down under Biden.
It's not my title, it's the author's title.
And it's not misleading. You lacking knowledge in this area isn't anyone's fault but your own.
Libs got it all out of their system in the summer of 2020 as well the two failed attempts to remove Trump from office.
I don't know if inflation is at 20% or not but there is no question there is significant inflation. last week dropped off my car for service and the dealer was charging $25 for courtesy car. same dealer was charging $10 last year. and it used to be free a few years ago. btw i'm not in the camp that thinks biden is the reason for inflation...the way the world is shaping up, inflation was inevitable i think. i just want leadership to set up the country for the future.
It didn’t mislead me. It didn’t mislead anyone who read the very first sentence in the OP’s link.
There’s nothing hypocritical about what I posted. In both threads I saw multiple posters making the same mistake and I clarified the facts.
The real hypocrisy here is you repeatedly getting pissy about me correcting mistakes while giving a free pass to the people who made the mistakes.
