Comment on Biden claims inflation was 'skyrocketing' when he took office, despite data showing opposite
criitz@reddthat.com 7 months ago
I’m not an economist, but looking at reports from the Beaureu of Labor Statistics from 2021, it looks like CPI started its upward trend in Oct 2020, and by January was certainly on the path to skyrocketing if not already. I dunno what legislation Biden would have been responsible for that could have affected the economy so quickly in his term?
wintermute_oregon@lemm.ee 7 months ago
Several. The inflation reduction act. The promise of more government spending. More Covid paychecks.
Anytime you have rampant government spending, you get inflation. Just spend a lot of money very quickly
criitz@reddthat.com 7 months ago
Not that quickly. The inflation reduction act for example was a year and a half later in 2022.
wintermute_oregon@lemm.ee 7 months ago
Oh smack. You are correct. I was wrong.
Zeppo@sh.itjust.works 7 months ago
Are you aware of anything like that happening while Trump was president?