DASHY wrote:
Republicans like to point to President Biden's American Rescue Plan as his greatest blunder. MAGA folks claim President Biden caused the principal source of inflation in America. Most economists agree the Rescue Plan helped fuel inflation, along with corporate profiteering, supply chain woes, the Russian invasion of Ukraine, along with other sources.
Democrats believe the benefits of the Plan far outweigh the small contribution it made to inflation. Enacted during a severe public health and economic crisis, the American Rescue Plan has made a difference in the lives of millions of Americans – expanding access to C****-** v*****es and testing, providing economic relief that has kept millions of children out of poverty, preventing evictions and foreclosures, and helping small businesses keep their doors open. One analysis found that the law resulted in 4 million more jobs and nearly doubled GDP growth – and that without it, the United States would have come close to a double-digit recession in spring 2021.
According to a Forbes discussion, here is what Joe did with gas and oil. You can read it to help expand your understanding of inflation.
Many people attributed the entire price rise to President Biden, but in reality it began before Biden took office. Further, it was neither primarily President Trump nor President Biden’s fault — and these price surges were taking place all over the world.
To be clear, the stimulus money that both presidents approved had some impact. When people have more money, they spend it. Demand for goods rises, driving inflation. Stimulus money played a minor part in the gasoline price rise, but it was primarily a function of the oil price surge due to the imbalance brought on in the aftermath of the C****-** demand plunge.
https://www.forbes.com/sites/rrapier/2022/03/13/how-much-of-the-gasoline-price-surge-is-president-bidens-fault/?sh=526ed5047c8b
Republicans like to point to President Biden's Ame... (
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" Democrats believe the benefits of the Plan far outweigh the small contribution it made to inflation. "
I love the way your mind works. " Democrats believe " I guess that allows you to disassociate from it. " far outweigh the small contribution it made to inflation. " That is almost a brilliant deflection and excuse. Almost brilliant.
I told you previously, when your boy Joe came into office there was already plenty of money injected into the system from the Trump C***d stimulus. The economy was opening up, demand was coming back. The very very last thing the economy needed was more stimulus, and more incentives for slackers to stay home from work.
But since this conflicts with your preconceived notion that Joe Biden could not possibly have done anything wrong, your mind is closed to the possibility that I am right.
" primarily a function of the oil price surge due to the imbalance brought on in the aftermath of the C****-** demand plunge. "
You got that part right. During the C***d lockdowns worldwide demand for diesel and gasoline and oil collapsed. I do not think that you and your oil hating L*****t compadres can fully grasp the ramifications of that. The oil industry runs on cash more than most other businesses. With the collapse of demand and price, oil and refinery operations shrunk tremendously.
I know you L*****ts were over joyed, but the downside effects to the rest of us were severe. When your boy Joe was awaiting becoming President, between being elected and taking office, demand for oil, gasoline, and diesel came roaring back. Well you can't simply switch refineries, oil fields, and pipelines back on. Perhaps if the industry had not shrunk back so badly, and there had been attempts to deal with this during the C***d shutdowns.
Trump had tried to fill up the strategic oil reserve. This would have resulted in two very positive conditions. First the reserve would have been filled up extremely cheaply because oil was dirt cheap. The more important result would have been keeping the oil industry from shrinking as much, which would have made ramping it back up easier when C***d abated.
Naturally Chucky Schumer and the rest of the scum bag Democrats blocked all of this. I know you are profoundly unaware of all of this.
I do thank you for not pulling the football away, and giving me a thoughtful answer.