Biden's inflation economy: inflation hits 40 year high

[Parkbandit]

$5.8T budget let’s you know just how serious Biden is about inflation. And that’s before he finds a way to bring us into war.

President Biden said this budget FIGHTS inflation.

I mean sure.. we only took in 4 trillion dollars and this budget is 6 trillion... but Biden is serious about inflation.. otherwise, why would he say this budget FIGHTS inflation?

[Gelston]

Biden's budget would have been a lot higher if his Build Back Better/Green New Deal was completely passed. They don't talk about that though.

[ClydeR]

Based on today's unemployment claims report, the war in Ukraine and the Russian sanctions do not appear to be slowing economic growth in the United State, at least not yet. Lowest unemployment claims in 54 years. This makes the Federal Reserve's job difficult.

U.S. first-time unemployment claims fell much more than expected last week to reach the lowest level since 1968, with the rate of new layoffs and firings staying low compared to pre-pandemic averages.

The Labor Department released its latest weekly jobless claims report Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg:

• Initial jobless claims, week ended April 2: 166,000 vs. 200,000 expected and a revised 171,0000 during prior week
  
• Continuing claims, week ended March 26: 1.523 million vs. 1.302 million expected and a revised 1.506 million during prior week

The number of new claims filed last week marked the least in more than five decades and represented a third consecutive week that new claims were below 200,000. The prior week's new claims were also markedly downwardly revised to 171,000, from the 202,000 previously reported for the end of March. Prior to the pandemic, new claims were averaging around 218,000 per week throughout 2019.

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[Seran]

Based on today's unemployment claims report, the war in Ukraine and the Russian sanctions do not appear to be slowing economic growth in the United State, at least not yet. Lowest unemployment claims in 54 years. This makes the Federal Reserve's job difficult.

The economy is in full swing and anyone who wants to work, can. Gas prices are playing an oversized roll in overall inflation, but I would honestly like to see the inflation numbers broken down per region. Only because employers with nationwide presences introducing $14-$15 hour jobs to areas with minimum wages half that are overheating some of those economies.

[Parkbandit]

The economy is in full swing and anyone who wants to work, can. Gas prices are playing an oversized roll in overall inflation, but I would honestly like to see the inflation numbers broken down per region. Only because employers with nationwide presences introducing $14-$15 hour jobs to areas with minimum wages half that are overheating some of those economies.

https://www.cnbc.com/2022/02/10/janu...-expected.html

And this was 2 months ago... and it's only gotten worse under this President.

It's ok though.. we can fix this issue come November and really make changes to inflation in 2024.

[Seran]

https://www.cnbc.com/2022/02/10/janu...-expected.html

And this was 2 months ago... and it's only gotten worse under this President.

It's ok though.. we can fix this issue come November and really make changes to inflation in 2024.

Republican inflation fix: Make permanent the corporate and capital gains tax cuts set to expire in 2022 and 2024, raise taxes on the middle class by eliminating mortgage interest deductions for earners making less than 500K a year, create a federal tax holiday for bringing home all overseas profits without a capital expenditure requirement.

[Parkbandit]

Republican inflation fix: Make permanent the corporate and capital gains tax cuts set to expire in 2022 and 2024, raise taxes on the middle class by eliminating mortgage interest deductions for earners making less than 500K a year, create a federal tax holiday for bringing home all overseas profits without a capital expenditure requirement.

Democrat inflation fix: Wage war on fossil fuels, create a budget worth twice as much as the tax revenue for the year, spend billions on every liberal wet dream, open the southern border putting tax payers on the hook for their care.

It's not a coincidence that we are having the highest inflation since the last time Democrats pushed such an extremist agenda with President Carter.

It's Democrat policies that are the cause... and certainly not the cure.

Don't worry though... We will start correcting this in November.

[Seran]

Democrat inflation fix: Wage war on fossil fuels, create a budget worth twice as much as the tax revenue for the year, spend billions on every liberal wet dream, open the southern border putting tax payers on the hook for their care.

It's not a coincidence that we are having the highest inflation since the last time Democrats pushed such an extremist agenda with President Carter.

It's Democrat policies that are the cause... and certainly not the cure.

Don't worry though... We will start correcting this in November.

Waging war by not giving the oil company everything they want, including additional tax breaks or royalty reductions, bribes to get them to unidle wells.

Record tax collections and a budget which aims to severely reduce the deficits by rolling back egregious and ineffective corporate tax breaks and paydays for the wealth.

So sad that in recent times, only a Democrat has gotten close to a balanced budget under Clinton. Meanwhile the so called deficit hawks in the Republican party haven't seen a balanced budget since 1960.

Democrats meanwhile want to use tax dollars to fix the infrastructure problems which were revealed in 2019, infrastructure problems economists nearly universally agree contribute to inflation. But Republicans aren't interested in fixing any problems, just creating them.

[Suppressed Poet]

Waging war by not giving the oil company everything they want, including additional tax breaks or royalty reductions, bribes to get them to unidle wells.

Record tax collections and a budget which aims to severely reduce the deficits by rolling back egregious and ineffective corporate tax breaks and paydays for the wealth.

So sad that in recent times, only a Democrat has gotten close to a balanced budget under Clinton. Meanwhile the so called deficit hawks in the Republican party haven't seen a balanced budget since 1960.

Democrats meanwhile want to use tax dollars to fix the infrastructure problems which were revealed in 2019, infrastructure problems economists nearly universally agree contribute to inflation. But Republicans aren't interested in fixing any problems, just creating them.

It absolutely amazes me how much bullshit you believe.

You are either hands down the best troll I’ve ever come across on the innerwebs who never breaks character, or you are in fact the perfect desired product of America’s version of Mao’s Cultural Revolution. In either case, you are truly a unique snowflake…

[Seran]

It absolutely amazes me how much bullshit you believe.

You are either hands down the best troll I’ve ever come across on the innerwebs who never breaks character, or you are in fact the perfect desired product of America’s version of Mao’s Cultural Revolution. In either case, you are truly a unique snowflake…

Deflection is not an introduction of fact to a debate.