Originally posted by: MaxFlavor
What, exactly, was the reckless spending that happened?
Oh little things like adding 8.3 trillion to the national debt. This + the Fed's easy money policy was the root casue of our 40 year record inflation and decline in real wages.. That's kind of the definition of reckless spending.
Exactly Legislation like:
American Rescue Plan 1.9 trillion.
Infrastrucure and Jobs Act 1.2 trillion.
So called Inflation Reduction Act.1.2 trillion.
Originally posted by: CharlesII
Since you aren't willing to have a normal conversation without your typical nasty personal insults, you just aren't worth the effort it would take to enlighten you (not that you'd allow yourself to be enlighted anyway).
These constant nasty insults simply highlight what a petty, immature and sad person you are.
This will be my standard response to any of your future nasty comments directed to me.
I call you out on your nonsense and challenge you to explain it, which you can't, so you weasel away. That's not new here. All of our conservitards do that.
Hey, Charles, did you see what your most favorite economist had to say about Trump and his economic policies? Somethings tells me you're about to find a reason to reject the economist you've cited on this board about 100 times in the past.
Larry Summers warns Trump polices will be more inflationary than anything Biden did.
Originally posted by: CharlesII
Oh little things like adding 8.3 trillion to the national debt. This + the Fed's easy money policy was the root casue of our 40 year record inflation and decline in real wages.. That's kind of the definition of reckless spending.
Exactly Legislation like:
American Rescue Plan 1.9 trillion.
Infrastrucure and Jobs Act 1.2 trillion.
So called Inflation Reduction Act.1.2 trillion.
Wow, what gross ignorance on your part! There are TWO components to the national budget: revenue and spending. Slashing revenue is JUST as harmful as increasing spending.
Trump slashed government revenue in half with his idiot tax cuts. The conservitards then resumed their bleating about "reckless spending" and blamed Democrats for the gigantic deficits that Trump had created.
Try some other kind of trolling. You're no good at this kind.
Originally posted by: PJ Stroh
Hey, Charles, did you see what your most favorite economist had to say about Trump and his economic policies? Somethings tells me you're about to find a reason to reject the economist you've cited on this board about 100 times in the past.
Larry Summers warns Trump polices will be more inflationary than anything Biden did.
Larry Summer's (and many other noted Economists) prediction on Bidenflation was relatively easy. All anyone had to do was look at aggregate demand improving at the time and see that the huge impact infusing trillions of extra dollars into the US economy would be inflationary.
While I agree that across the board tariffs can be inflationary claiming the actual new Trump policies will create inflation requires a little deeper look at all of the policies, not just a cherry picked few. So, maybe you can answer a few questions for me about Tariffs and Larry Summer's claims.
Did Trump's first term tariffs create inflation? If so, how much and why didn't Biden end them? (hint: those particular tariffs did not create inflation)
In Larry's analysis of Trump Tariffs, what percent did he assign to the threatened tariffs simply being used as leverage to negotiate better trade deals with our trading partners? You know the EU is already looking at cutting tariffs on US products to avert a trade war. That's a good thing, right?
In Larry's analysis of inflation did he consider the deflationary impact of cutting a trillion dollars of federal deficit spending (the root cause of true inflation).?
In Larry's analysis of inflation did he consider the deflationary impact of reversing Joe Biden's costly anti-business executive orders and cutting red tape and thousands of costly anti-business regulations imposed by the Biden administration?
In Larry's analysis of inflation did he account for the deflationary impact of the immediate layoff of several hundred thousand Federal government employees? How many of these employees did he predict would take actual productive jobs in private industry?
In Larry's tariff analysis, how much weight did he give to the impact of our trading partner's currency being devalued because of the tariff's.
In Larry's tariff analysis how much of the end cost did he predict would be absorbed by the trading partner (vs passed on to the consumer) so they don't lose market share?
In Larry's tariff analysis, how much weight did he give to the substitution effect where consumers find alternative products and suppliers for the tariffed goods?
So what is your prediction for the biggest percentage change this year in CPI? Are you like Kevin predicting 200 to 300% within 6 months? My gut feeling is that it won't be anywhere near as inflationary as Democrat pearl clutching indicates because each of the points above are potential moderating factors that likely aren't being considered.
Originally posted by: Kevin Lewis
Wow, what gross ignorance on your part! There are TWO components to the national budget: revenue and spending. Slashing revenue is JUST as harmful as increasing spending.
Trump slashed government revenue in half with his idiot tax cuts. The conservitards then resumed their bleating about "reckless spending" and blamed Democrats for the gigantic deficits that Trump had created.
Try some other kind of trolling. You're no good at this kind.
Of course I was just pointing out Biden's reckless spending. with over 4 trillion in new spending that created record deficits and our record inflation and declining real wages. If Democrats were really concerned about the deficit,and they thought the Trump tax cuts were to blame, they could have easily reversed Trumps tax cuts. The Democrats simply don't care about government waste or fraud or deficits. Witness them 'throwing gold bricks off the the Titanic' on their way out of power.
Fact of the matter is that even though Trump cut taxes, the Federal Government ended up with RECORD TAX RECEIPTS because of the growth that caused. Far higher growth than predicted by the CBO. Cutting tax rates doesn't necessarily lead to cutting revenue. At least it didn't. We don't have a taxing problem. We have a spending problem.
Charles, the problem with your "Biden money caused inflation" song and dance is all about timing. By the time a single penny of the inflation reduction act was spent the inflation you cried about was already over. Most of that money is still in the queue.
US inflation was in line with the rest of the globe....just like unemployment was in Trump's last year. And Biden had the same excuse as the rest of the globe for that inflation.
The "it happened on his watch" bullshit you like to point to doesnt seem to apply to Trump's unemployment crisis. Funny how you can find logical cause and affect in one administration and not another. And funny how you measure the crdibility of an economist differently from one administration to another..
Originally posted by: PJ Stroh
Charles, the problem with your "Biden money caused inflation" song and dance is all about timing. By the time a single penny of the inflation reduction act was spent the inflation you cried about was already over. Most of that money is still in the queue.
US inflation was in line with the rest of the globe....just like unemployment was in Trump's last year. And Biden had the same excuse as the rest of the globe for that inflation.
The "it happened on his watch" bullshit you like to point to doesnt seem to apply to Trump's unemployment crisis. Funny how you can find logical cause and affect in one administration and not another. And funny how you measure the crdibility of an economist differently from one administration to another..
I see. No PJ inflation prediction. No response to the moderating factors I identifed. As to the credibility of Larry Summers inflation prediction for Biden vs current prediction vs Trump, You'll note that Summer's analysis of Trump policies was from November of last year well before any of these policies were really defined. Many are still being refined like the Reciprocal Tariffs. His prediction on Bidenflation was based on the specific legislation (The American Rescue Act) that was proposed and implemented and the catalyst for our 9.2% inflation rate a year later.
US Inflation was not in line with the rest of the globe. Some countries made the same mistakes the Biden administration did, big stimulus + loose money. Only we did it at great scale. We peaked at 9.2%. At that time, China was at 2.6%. Japan at 2.4. France 5.8. India 6.1 Germany 7.6. Because of those Biden inflationary policies, the Fed had to act by raising interest rates and we stil never once hit the Fed target inflation rate during the horrible 4 years of Democrat rule.
Unfortunately we have spent our way into a debt crisis and the only way out is to cut the Government fat and wasteful spending, still find ways to stimulate growth through tax policy and cutting red tape and maybe get a peace dividend from ending the Ukraine war. I'm sure even democrats hope Trump is successful at that.
Originally posted by: CharlesII
I see. No PJ inflation prediction. No response to the moderating factors I identifed. As to the credibility of Larry Summers inflation prediction for Biden vs current prediction vs Trump, You'll note that Summer's analysis of Trump policies was from November of last year well before any of these policies were really defined. Many are still being refined like the Reciprocal Tariffs. His prediction on Bidenflation was based on the specific legislation (The American Rescue Act) that was proposed and implemented and the catalyst for our 9.2% inflation rate a year later.
US Inflation was not in line with the rest of the globe. Some countries made the same mistakes the Biden administration did, big stimulus + loose money. Only we did it at great scale. We peaked at 9.2%. At that time, China was at 2.6%. Japan at 2.4. France 5.8. India 6.1 Germany 7.6. Because of those Biden inflationary policies, the Fed had to act by raising interest rates and we stil never once hit the Fed target inflation rate during the horrible 4 years of Democrat rule.
Unfortunately we have spent our way into a debt crisis and the only way out is to cut the Government fat and wasteful spending, still find ways to stimulate growth through tax policy and cutting red tape and maybe get a peace dividend from ending the Ukraine war. I'm sure even democrats hope Trump is successful at that.
Charles you are 100% correct which is why Lewis and PJ do not want to address the sanity of your remarks and would rather be insulting and rude with their remarks - because , after all, being rude and condesending is all they have.
Originally posted by: CharlesII
Since you aren't willing to have a normal conversation without your typical nasty personal insults, you just aren't worth the effort it would take to enlighten you (not that you'd allow yourself to be enlighted anyway).
These constant nasty insults simply highlight what a petty, immature and sad person you are.
This will be my standard response to any of your future nasty comments directed to me.
Aligned with that..150%.
