Biden still claiming Dem bill will fight inflation despite evidence it won't

[Gunny]

And they did it anyway The biggest current threat to the US is the US Government.

https://www.foxnews.com/politics/bid...idence-it-wont

[Russ]

Totally agree, Gunny. It is Economics 101, you don't fight inflation by adding money to the economy, you have fight inflation by tightening the money supply by raising interest rates and by the government spending less. This "Inflation Reduction Act" will actually cause more inflation, not reduce inflation. Where are the economists that should be speaking out right now about this.

Joe Biden and the Dems seem to think that if you name your bill "The Inflation Reduction Act", then that's all you need to reduce inflation. I'm still not sure if Joe and the Dems are so stupid that they think their bill will reduce inflation, or if they just think that the voters are that stupid.

[Gunny]

Totally agree, Gunny. It is Economics 101, you don't fight inflation by adding money to the economy, you have fight inflation by tightening the money supply by raising interest rates and by the government spending less. This "Inflation Reduction Act" will actually cause more inflation, not reduce inflation. Where are the economists that should be speaking out right now about this.

Joe Biden and the Dems seem to think that if you name your bill "The Inflation Reduction Act", then that's all you need to reduce inflation. I'm still not sure if Joe and the Dems are so stupid that they think their bill will reduce inflation, or if they just think that the voters are that stupid.

It worked for naming the recession we're in "not a recession" didn't it ?

I'm starting think the voters are that stupid. Nothing's impressed me otherwise lately.

[Black Diamond]

It worked for naming the recession we're in "not a recession" didn't it ?

I'm starting think the voters are that stupid. Nothing's impressed me otherwise lately.

Are voters agreeing with this Admin that it's not a recession?

[fj1200]

Are voters agreeing with this Admin that it's not a recession?

That probably depends on if they're actually feeling any pain outside of inflation. I think the labor market is still tight enough that most people can get a job if they're actually looking. I have no feeling of a recession here in Atlanta.

[SassyLady]

Groceries and gas highly inflated here. Or just not available like empty shelves in market.

[Gunny]

Are voters agreeing with this Admin that it's not a recession?

I don't know. When did voters' opinions matter? As I mentioned above, the Dems via the MSM will tell the sheeple what their opinion is, and they are collectively calling it "not a recession".

I thought a recession met a certain criteria that has been met.

a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

https://www.google.com/search?q=rece...hrome&ie=UTF-8

Apparently, even google is wrong. Biden says so.

[fj1200]

Well officially the NBER is the organization that makes the call on recessions.