Biden claims inflation was 'skyrocketing' when he took office, despite data showing opposite

Comments

• criitz@reddthat.com ⁨1⁩ ⁨year⁩ 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?

  source

  • wintermute_oregon@lemm.ee ⁨1⁩ ⁨year⁩ 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

    source

    • criitz@reddthat.com ⁨1⁩ ⁨year⁩ ago

      Not that quickly. The inflation reduction act for example was a year and a half later in 2022.

      source

      • -> View More Comments
    • Zeppo@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

      Are you aware of anything like that happening while Trump was president?

      source