From x.com (f.k.a. Twitter)
Latest inflation report from today shows Bidenomics at work. ⬇️ pic.twitter.com/0Imc9eJb7w
— Senator Mike Rounds (@SenatorRounds) June 12, 2024
From x.com (f.k.a. Twitter)
Latest inflation report from today shows Bidenomics at work. ⬇️ pic.twitter.com/0Imc9eJb7w
— Senator Mike Rounds (@SenatorRounds) June 12, 2024
It’s all Biden, even though the Trump Trades Wars created insane spending and compounded issues when supply chain problems happened with covid. The Trump Wealthy Tax Breaks that paired with the Bush wealthy Tax Breaks account for the continued increase in our national debt. Without those two breaks, our national debt would not increase. Or PPP spending, or considering he printed about a trillion more than Biden. Why are you guys so shortsighted? Most of the failure happened with Trump and Biden was left trying to save the economy from a total recession. It’s not all roses but I would bet we would all have been worse off with Trump trying to resolve all the problems he helped create.
Yikes! Talk about projection!
Yet another story on why it is very expensive to live in South Dakota hitting families hard, being a low wage welfare state and especially our most vulnerable. Cause? Due to a lack of leadership by the super majority party whether our state’s executive branch or legislative. 2nd in the nation for highest healthcare costs. https://southdakotasearchlight.com/2024/06/09/why-south-dakota-health-care-is-the-nations-second-most-expensive/
In other words, if your wages haven’t gone up $13,000 a year, you’ve lost ground.
In case you are wondering, the median household income has gone up $8,000 since Biden became President which roughly translates for over half our households (mostly poorer) have lost roughly 10% of their buying power.
To the prior poster, inflation was under control until these things happened without economic justification (only political) because we were not longer in Covid shutdown mode but virtually all sectors of the economy were back to normal (as measured by output and employment):
Trump’s parting $0.9 Trillion stimulus bill (which he wanted to be higher)
Biden’s initial $2.0 Trillion America Recover Plan
Biden’s dishonestly named 0.9Trillion Inflation Reduction Act
Biden’s forgiveness of $8 billion of student loans for people who all will make over the nation’s median income (there is programs for deferral for those who’d make less than the nation’s median income).
BTW, I agree Trump’s Fauci led Covid shutdowns and restrictions was horrible policy with long-term negative impacts on our nation and economy. But, to try to slough off all the blame to Trump and away from Biden is so intellectually dishonest it is laughable since Biden did everything he could to extend and re-advocate for Trump’s bad policies Trump had started to reverse.
Biden is double moron for continuing Trump’s very worst policies (Covid) and cancelling Trumps best policies (energy and immigration/border).
South Dakota’s median income has gone up $8,000.
Trump wasn’t just 0.9, he did closer to 3 trillion. Trump started inflation and biden compounded it. To put this all on Biden is just as dishonest. The wealthy tax cuts are far more impactful than energy or the border. I don’t understand why everyone is cheering for billionaires at the expense of the working class. I want to see tax rates increased on the wealthy, not cut so our local taxes go up. Also, how much of inflation is straight up greed? There are so many aspects to this, but it still remains that Trump and Biden caused this mess so blaming one guy is just ignorant. Typical American politics.
agreed on the hazy unreferenced impact on “straight up greed” fueling the perception of inflation we see in this simple number. the top bracket tax relief and trump-swamp corporate greed in the government were there before biden’s first term began, and much of the effect of it all is still there churning like a stealthy kraken.
How was Trump’s energy policy great? He bankrupted more domestic oil producers and begged Opec to drive prices up. We are producing more oil now than ever. Can you tell me how many oil companies went bankrupt under Trump driving our dependence on foreign oil even higher and consolidation of domestic producers at the expense of consumers and to the benefit of wealthy shareholders?
Trump’s economic policies were piecemeal, contradictory, and difficult to explain. Mostly, he catered to the best off in our society with tax breaks.He sent everyone a check for a $1,000. I guess that’s why he is popular. Cash is King.
Biden has tried to spend his way out of a recession. He’s been successful so far. Unemployment remains low and inflation is decreasing, though with glacial speed. Inflation is something voters are faced with everyday, at every store or restaurant. Inflation forces us to make tough decisions and defer spending. That’s why he’s so unpopular.