Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Haha, that's cute Dr Flip-Flop. So we're just going to ignore the fact that you provided your own source because you didn't like OP's? And no, I didn't call the OP a liar. It's just sad that the same CBO who's acknowledging Biden is responsible for inflation, is still spewing left-wing talking points on how it's "not a supply issue, but a demand issue."
No flip-flopping. You say the CBO is partisan, the OP said it was a non-partisan group.
<shrug>
Quote:
Originally Posted by DK736
Ahhhhh, so you DO admit you chose to provide your own source. So hang on now, is the CBO accurate and can be trusted only when you pull the source? Just want to make sure, because you felt the need to disregard the Examiner's reporting on the CBO. I'm going to guess you saw which news source it was, your emotions swelled up, and you had to provide your own source, just to still be incorrect and make lame claims about me.
And yeah, the CBO can shove it as far as I'm concerned. They've been falsely reporting about the economy, originally said Biden wasn't responsible for it, told us the inflation would die out before 2022 started, blamed Russia, then said inflation would die down by Summer of 2022, and STILL continue to tell us it's a demand issue. But you do you.
I have no idea what you're playing at, but I never denied I went directly to the CBO report - I did the exact opposite, in fact. I ALSO referenced and cited the Examiner op-ed.
So, what's your point?
If you're going to say "You can't trust the CBO, period." that's your prerogative, but that applies to the OP and the Examiner op-ed as much as it applies to anything else, since the whole discussion is anchored on the CBO report.
CBO Has Spoken: Biden is Responsible For Inflation, Trump Tax Cuts Grew Economy/Shrank Deficit
Quote:
Originally Posted by RhodyRepub
This is it. This says it all.
Quote:
The Congressional Budget Office has just confirmed that President Joe Biden is blameworthy for the record-high inflation that is punishing workers. Further, this nonpartisan source says that Biden's preferred fix, raising taxes, will only make the economy worse.
Far from starving the government, the Tax Cuts and Jobs Act generated so much economic growth that the entire bill has apparently paid for itself, even after controlling for the other economic factors that may have played a role. A rising payroll tax and individual income tax revenues also show that the tax cuts boosted job growth and wages as well. The CBO says that even with lower rates,total revenues in 2022 “are projected to equal 19.6 percent of the nation’s gross domestic product — the largest annual revenues relative to the size of the economy since 2000.” This is 2.3% higher than the average of the past 50 years, which includes a period in which the top income tax rate was 70%.
This means that today’s outlandishly high deficits are the result not of too little revenue but of far, far too much spending.
Instead of making these tax cuts permanent, Biden has been pushing to undo them. Such a tax hike on families and small businesses would only make the economic damage from Bidenflation worse.
The Democrats' prospects for surviving the Nov. 2022 elections are growing dimmer and dimmer. And deservedly so.
The more normal people learn the truth about the Democrats, the less they want to vote for them.
Before the pandemic, inflation was >2% and wage growth outpaced inflation for all income groups.
FAIL!!!
Inflation was incredibly low until Biden took office.
In fact, back in Feb. 2021 economists were actually concerned inflation might be too low!
Quote:
Gasoline prices rose again in January, but they remain well below last year's level and overall inflation in the United States continues to be tame, according to government data released Wednesday.
The overall Consumer Price Index (CPI) rose just 0.3 percent compared to December, the Labor Department reported, despite a 7.4 percent jump in pump prices for fuel.
And "core" CPI excluding volatile food and energy prices was unchanged for the second straight month, the report said.
While shoppers might revel in low prices, too-low inflation is a concern for the Federal Reserve as central bankers fret over the state of the US recovery
Then Biden said "Hold my beer!", and the rest is History.
It's amazing how many of you folks keep defending Biden and the Boys as the country goes down the toilet hole. It's like the Titanic in it's last few minutes before going under and you're defending the lookouts who where on duty.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
