Bidenflation Peaks At 17.3%, Hurting Americans

I saw this delightful article about Bidenflation/Bidenomics at RCP this morning and I thought I'd share the stats with you:

Awful is as Awful does.

The failure that is this presidency can't end soon enough...

 

Now, let's look at some actual data:



From this, it is easy to see that wages in 1/21, when Biden took office, were inflated due to covid government stimulus. The long term baseline, however, looks very similar between Trump pre-covid and Biden post-covid.

Of course, it is not surprising that the RW Biden haters pick and chose their statistics to make their partisan point that Biden is the devil. Nothing new here....

In addition, the other disinformation in the OP and its title is that it leaves out that 17.3% inflation is CUMULATIVE, and not year over year. And then, it compares CUMULATIVE inflation over three years to year over year inflation DURING the first year of COVID (which was artifically low, for obvious reasons), to exaggerate the point.

If those people want to be taken seriously, they should at least attempt to show unbiased numbers. This stupid kind of knee-jerk propaganda is really tearing the country apart.

 

We know that the 17.3% figure is cumulative.As FactCheck pointed out last month: Inflation spiked to the highest level in over 40 years. Despite recent moderation, consumer prices are up nearly 18% overall during Biden’s time. Gasoline is up 29%. According to LW Biden lovers pointing these inconvenient facts out "is really tearing the country apart".

Talk about can't be taken seriously.

Back to the wonders of Bidenflation, I believe it was running hottest somewhere around this rate, but feel free to correct me if it was higher:

...and of course we have the "RW Biden haters" at PBS to "pick and chose their statistics to make their partisan point that Biden is the devil".

Nothing about people working more jobs and maxing out their credit cards because Bidenflation/Bidenomics is so great!?

Have some more stats foe LW Biden lovers to whine about, but remember - you were the ones who voted for this, not me:

...and there's much more about the record debt individuals and the Biden Administration are accruing alongside high interest rates and what that means for the economy.

And then there's this wonderful little tidbit: Late last year the federal government reached a milestone when servicing just the interest on its debt exceeded $1 trillion a year (federal revenues were $4.4 trillion in 2023 if I recall correctly).

And LW Biden lovers assure us that the federal government doesn't have a spending problem...

https://www.usdebtclock.org

Rapidly closing in on $34.3 trillion in debt, and unfunded liabilities just crossed the $213 trillion threshold....

 

This is what happens when the previous administration spends $8 trillion in 4 years on pet projects.

The sad thing is no one even noticed the astronomical debt that was being piled onto households.

 

Biden is the one currently in the WH, and as with all presidents, they will get the blame, or the pats on the back for how the economy is currently doing.

Under Biden, inflation took off to a forty year high.
Under Biden, mortgage interest rates skyrocketed to a twenty year high.
Under Biden, pump prices reached an all-time high.

And as a side-note, under Biden, the flood of third-worlders has also reached an all-time high.

This president is a piece of ****, and like all piece of shits, he should be flushed down the toilet!

 

Real people live and work and pay bills/taxes in the cumulative economy. Interestingly BLS say inflation in Trump's last year was a tad over 2%, as were his prior three years.

 

LMAO, you do realize one president had to deal with lockdowns and covid while Biden hasn't

Copilot

It aint over till the fat lady sing Brah And it aint looking great for Biden

 

70% polled today don't want either of them. I'm not sure why anyone would believe Biden has anything over Trump after the Hur report was released.

 

What's year was trump in office? What year was COVID?

 

What's your point?

 

2020 for both would be my answer but you may remember something differently.

 

You honestly don't know either of those?

 

I'm afraid to even entertain it

 

I'd have not even dignified that question with an answer! At least now, I know what I'm working with here

 

So what happened in 2018 and 2019? What drove the debt those years?

Can't blame COVID.

 

The point is the debt was increasing every year under the previous administration with non existent interest rates.

Its economics 101 what we are seeing.

 

Indisputable fact;

An oil market crash/a historic LOW DEMAND FOR ENERGY significantly lowered 2020’s annual inflation rate to 1.23%.

CPI’s ENERGY Index
Unadjusted 12 months ended December 2020

Energy Commodities……MINUS 15.2%
Gasoline……MINUS 15.2 %
Fuel Oil……..MINUS 20.0%

Source; Consumer Price Index - December 2020

 

My IRA had its best year ever last year!

 

I not getting in to it with you, clearly you're not up for the task..

I'm good bro

 

So what? The three years previous has similar inflation numbers and by some trick of fate beginning in 2021 inflation went up like a missile.

 

Now let’s ask what consumers are really seeing, at the polls come November.

 

Of course you won't. Better to run from the truth than confront it.

 

“…..beginning in 2021 inflation went up like a missile”

Of course, and here’s why;

In 2021, we had a non-preventable Pent-up Demand, and a serious supply chain disruption.

Result; Demand-pull inflation

 

More likely the billions pumped into the system by COVID programs and Biden's spending "Inflation is always and everywhere a monetary phenomenon". close to four years of "pull inflation" seems unlikely.

 

The three years previous, 2017/2018/2019:

No pandemic
No supply chain disruption
No lockdowns
No stay at home orders
No mandated lockdowns
No self-imposed lockdowns, NBA/NHL/NFL/MLB
No Social distancing
No mask mandate
No virus-related restrictions
No grounding of international airplanes
No oil production cuts amounting to 10
Million bpd
No government-induced recession/recovery
No Russia oil/energy sanctions
No Texas Deep Freeze
No low refining capacity/utilization rates
No high rates of absenteeism….due to a virus
No Pent-up demand
No Chinese manufacturing cities were shutdown
AND MUCH MORE NO’S

Thus, rationally, Years 2017/2018/2019 AND 2020/2021 are incomparable.