What did Joe Biden do to cause so much inflation, and what should Joe Biden do to curb inflation?

[Bob Blaylock]

When you're talking about government redistributing wealth, it is zero-sum. Actually less than zero sum, takin into account the costs that government piles on top of what it redistributes.

And since nobody is talking about that, you look like a fool.

That's exactly what I was talking about.

I was responding to Lesh's absurd claim that…

Trump and Biden both pored [sic] trillions into the economy

Obama, Biden, and any other part of government, didn't dump shit into the economy, without taking more out somewhere else.

It is less than zero-sum game when government does that. Whatever good government does that way, is not enough to offset the harm where government took the wealth to thus redistribute.

 

[Meister]

Inflation is down, corporate profits are up. Figure it out

It's only off the highs that were at 9%, Inflation doesn't go back to the pre pandemic levels.
That would take deflation to do that. Prices are higher, and are going to stay higher. Look at rent/mortgage payments.
Look at the price of vehicles, they aren't going to go back down to the pre pandemic levels plus the normal inflation rate.

 

[Independent thinker]

All that COVID payment stuff was done before Biden, and is long over. So what did Biden do to cause it, and what should he do to curb it?

I already replied a bunch of things. You only commented on one.

 

[Stormy Daniels]

Ummmm, I disagree with you. There is a correlation between (1) government spending (2) feds printing money (3) and inflation.

You might have a valid point if we go back to about 125 years to a world where finite gold standards were the basis of economics. But we're not there anymore. You might want to try some continuing education courses at your local community college.

 

[Robert W]

It was tied up in the courts while Trump was in office and after that, Congress had to buy off on it and then he did his signing with those Alaskan Senators, Representatives, along with the Conoco-Phillips people in attendance, just as I watched live on TV. It was carried on FOX, CNN and MSNBC. Trump had been out of office for a year and four months, by that time.

What tears you guys up, is that he did the largest project in 30 years, and we still got to keep the Alaskan National Wildlife Refuge. Republicans hate that. To them, Oil is supposed to be an either/or proposition and they don't even want to talk about having good oil and gas supply, along with good stewardship of the environment. Having both, wasn't on the table with Trump. That is pretty strange, as it was Republicans that started the environmental movement, during the Nixon Administration, but now, they spit on environmental issues, as being anti-progress.

Clearly you see ANWR as massive when the truth is it is small. Sure drill where the oil is. Not in areas where the chances of hitting oil is slim.
I will indeed look up your claims. I do due diligence.

For you, look up the executive orders by Biden on his first day in office but also later days.
Google how the courts fought Biden.

I frankly question you due to things Biden has bragged he did. Such as bragging he was killing off oil production once he took office as president.

We have never at any time been against the environment. This is simply a fiction by Democrats. Progress does not start on the farm by stopping wheat production. And progress to EV does start by killing off the use of products made from oil.

How many times has Biden bragged he helped the ICE?

 

[JGalt]

Ok. But you didn't address my questions.

No idea. We're fucked to the point of no return.

 

[White 6]

You gave me the information i suspected is true but you proved it is true.

Donny huh? This means you are a fan not of Trump, but of Biden.

You mentioned the Willow Project.

So I decided to do Due diligence on this as well.

Alaska’s entire bipartisan U.S. Congressional delegation supports the Willow project.​

Alaska’s entire U.S. Congressional delegation – Democrats and Republicans – supports Willow because of the benefits it will provide to the state of Alaska and Alaska Native communities, while also enhancing U.S. energy security.

Read more:​

7

The Alaska legislature unanimously approved the Willow project.​

The Alaska state legislature unanimously adopted a resolution supporting Willow, urging President Biden and the Department of Interior to approve the project.

• Read the Alaska State Legislature’s unanimous resolution in support of the Willow project, here.

Of Course they supported it. It is located in the Alaskan Petroleum Reserve on the North Slopes of Alaska. It is good for the country and good for that state. They are pretty happy about the gas prject in Southern Alaska, approved by Joe also.

I'm not that big a fan of Joe, but energy certainly isn't a reason. He has done fine on energy.

Southern Border and Immigration policy, is a total different story. Joe has sucked on the border since day 2, and is not improving.

On the other hand, if we keep Joe, we get to keep elections by the people, The Constitution, The Rule of Law and there will be no dictator on day 1 of the next administration, as opposed what Trump wants and has said he intends to do.

Personally, I would like a chance to vote for Nikki Haley. Her foreign policy is fine. She is conservative. She won't pardon all those Anti-American Assholes that attacked the country on January 6th for Donny. I do not see serious change on Energy. But, if that doesn't happen, I would never vote for Trump or a Trump-lite candidate.

 

[Meister]

You might have a valid point if we go back to about 125 years to a world where finite gold standards were the basis of economics. But we're not there anymore. You might want to try some continuing education courses at your local community college.

You really are THAT stupid.....and I can't fix that for you. You might want to try economics 101 at a local high school, darling.
As the debt rises.....along with inflation....the money that we will borrow, and have borrowed costs more through the Treasuries that we have to sell.
This time, take the time to read the article and educate yourself, instead of making a fool of yourself.
It isn't rocket science.

https://www.cnn.com/2023/11/16/politics/interest-payments-federal-government-debt/index.html#:~:text=Rising%20rates%20on%20Treasuries%20helped,fiscal%20year%202021%2C%20Dwyer%20said.

 

[Robert W]

It was tied up in the courts while Trump was in office and after that, Congress had to buy off on it and then he did his signing with those Alaskan Senators, Representatives, along with the Conoco-Phillips people in attendance, just as I watched live on TV. It was carried on FOX, CNN and MSNBC. Trump had been out of office for a year and four months, by that time.

What tears you guys up, is that he did the largest project in 30 years, and we still got to keep the Alaskan National Wildlife Refuge. Republicans hate that. To them, Oil is supposed to be an either/or proposition and they don't even want to talk about having good oil and gas supply, along with good stewardship of the environment. Having both, wasn't on the table with Trump. That is pretty strange, as it was Republicans that started the environmental movement, during the Nixon Administration, but now, they spit on environmental issues, as being anti-progress.

Trump had approved the Willow Project.

Who started the Willow Project and when?​

ConocoPhillips is a Houston-based energy company that has been exploring and drilling for oil in Alaska for years. The company is the only one that currently has oil drilling operations in Alaska’s National Petroleum Reserve, though its two operating projects are smaller than Willow would be.

Willow was proposed by ConocoPhillips and originally approved by the Trump administration in 2020. ConocoPhillips was initially approved to construct five drill pads, which the Biden administration ultimately reduced to three. Three pads will allow the company to drill about 90% of the oil they are pursuing.

The Biden administration felt its hands were tied with the project because Conoco has existing and valid leases in the area, two government sources told CNN. They determined that legally, courts wouldn’t have allowed them to fully reject or drastically reduce the project, the sources said. If they had pursued those options, they could have faced steep fines in addition to legal action from ConocoPhillips. (end)

Biden reduced the project by 40% percent. But you did not mention that.

 

[Lesh]

I am shocked you do not know that Biden did declare Jihad on oil. Why don't you know about that. it was in his executive orders on his first moment in office.

Odd then that we are producing more oil than ever huh?

 

[Arlette]

It's only off the highs that were at 9%, Inflation doesn't go back to the pre pandemic levels.
That would take deflation to do that. Prices are higher, and are going to stay higher. Look at rent/mortgage payments.
Look at the price of vehicles, they aren't going to go back down to the pre pandemic levels plus the normal inflation rate.

Mortgage rates and the cost of loans dependent on the prime rate. The feds can address that by lowering the prime rate. Not much anybody can do about the cost of other consumer products such as food or gas.

 

[justoffal]

.

Bedpan Joe dindu nuffin but the leftist swine are still screaming eight years later!





.

I am ready for some deflation of food prices, fuel prices and many other prices. Biden won't work on that. But the ass brags he cut drug prices which makes me wonder if he did, why did my drug prices go up?

Two words: PETRO DOLLAR

 

[C_Clayton_Jones]

I'm not sure the answer to either. Let's discuss.

“What did Joe Biden do to cause so much inflation?”

Nothing, he didn't 'cause' inflation.

“…and what should Joe Biden do to curb inflation?”

Nothing – there’s nothing President Biden can do.

Inflation is a global phenomenon, out of the control of presidents and prime ministers – indeed, trying to ‘do something’ about it would be a mistake.

And the Fed’s policies are working as inflation has cooled and prices are coming down, it shouldn’t even be an ‘issue.’

 

[justoffal]

Clearly you don't know what I'm talking about: Quantitative Easing, the Fed's purchasing of about $9 trillion in shit assets to prop up the economy under Obama and Trump. As we know, Trump also begged the Fed for even MORE, even though it was inflationary and he didn't care.

And, in 2019, the NY Fed had to pour another $2 trillion into short term credit markets because they froze up.

That's what happened.

Yep....

 

[Couchpotato]

I'm not sure the answer to either. Let's discuss.

Likely nothing, but if you take credit for it coming down you take the blame for it going up if they happen on your watch. Only seems fair.

 

[justoffal]

Likely nothing, but if you take credit for it coming down you take the blame for it going up if they happen on your watch. Only seems fair.

He did ignite a burst of inflationary reaction when he squeezed down on the hydrocarbon industry. The Petro-dollar is still a thing.

 

[White 6]

Clearly you see ANWR as massive when the truth is it is small. Sure drill where the oil is. Not in areas where the chances of hitting oil is slim.
I will indeed look up your claims. I do due diligence.

For you, look up the executive orders by Biden on his first day in office but also later days.
Google how the courts fought Biden.

I frankly question you due to things Biden has bragged he did. Such as bragging he was killing off oil production once he took office as president.

We have never at any time been against the environment. This is simply a fiction by Democrats. Progress does not start on the farm by stopping wheat production. And progress to EV does start by killing off the use of products made from oil.

How many times has Biden bragged he helped the ICE?

Maybe you are different. Most of the Trumpers on here would open the Alaskan Wildlife refuge for drilling tomorrow, as they value the proven reserves there, far above any conservation of wildlife anywhere in the country, if they could. I like having both good energy policy as well has good conservation policy. I was just brought up in the outdoors and still love to Backpack, camp, Kayak, etc, though have given up climbing.

If the early moratorium on drilling in the Gulf was bothering you, you might remember it didn't last a year. You might also like this article.

https://www.reuters.com/business/energy/us-hold-gulf-mexico-oil-auction-after-string-delays-2023-12-20/

 

[Meister]

Odd then that we are producing more oil than ever huh?

I think that you would be pissed at Joe for going against his promise. What's up?
Trump does the drill baby drill, and you and your ilk was all pissed off, and when Joe does it, it's like he's the second coming.
I'm confused with that

 

[task0778]

What did Joe Biden do to cause so much inflation, and what should Joe Biden do to curb inflation?​

Being a simple-minded person, I tend to break issues down to smaller and more understandable thoughts, even though the issue itself is actually far more complex. But - I do what I can do to get a grasp of the topic at hand. So, to me, inflation is basically too much money (demand) chasing too few products and services (supply). What do you do about it? Essentially you reduce the amount of money and/or you raise interest rates to reduce consumer and gov't spending. You try to find ways to encourage economic growth to increase production of goods and services, but that ain't easy in a time of less money in circulation and higher interest rates. So, you find other ways, like cutting regulations where it makes sense to do so, which can reduce the costs of production.

IMHO, both Biden and Trump pumped quite a bit of stimulus money into the US economy, without a corresponding raise in the production of goods and services. That is inflationary, and it began in earnest during Trump's last year in office (2020) and continued into Biden's administration. I think we were going to see rising inflation anyway no matter what Biden did, but I also think he and the democrats significantly added to the problem with what I think was profligate spending, such as the American Rescue Plan which was about $2 trillion and other spending bills such as the Infrastructure Investment and Jobs Act, the Infrastructure Investment and Jobs Act and some others. Plus the CBO estimated in June that a number of the President Biden's executive actions total another $532 billion, including interest expenses. The list of actions reviewed by the CBO include $300 billion for an expansion of the Supplemental Nutrition Assistance Program, $34 billion for the extension of various healthcare subsidies, and $85 billion for pauses in student loan repayment.

IOW, we have pumped up the Demand side without doing much on the Supply side, hence inflation. Since the GOP took over the House, gov't spending is nowhere near what it was earlier, but the reduced inflation rate we've seen in recent months does not change the fact that since Biden took office the inflation rate is about 17%. As I say, it's not all his fault but he has pursued policies that acerbated the problem instead of improving it. A lot of blame should also go to the Fed for their delay in raising interest rates; I'm not sure how much Biden should be blamed for that.

 

[justoffal]

Odd then that we are producing more oil than ever huh?

Producing it and where it goes are two different things. I don't blame the US one bit for selling the oil to the highest bidder. However other oil producing nations parse a segment of their production directly into their own country so that the citizens can benefit from lower prices locally. That doesn't happen here.