Gridlock is the best thing we can get right now. They are still pitching BBB among all of this, which is frankly amazing.
Despite inflation being a horrible political anchor for the Democrats, they have yet to pitch any economically sound policy to combat it. They keep talking about proven to fail economic policies such as price controls, or blaming Russia/Corporate Greed.
But at least they had the benefit of the doubt that covid was novel and not well understood, and they were compromise packages with both parties involved.
The ARP was passed solely by Democrats a full year after covid lockdowns started, and was quite obviously excessive by any mathematical/fundamental measurement.
The Fed is the most complicit of all, because they had the power to unilaterally pump the breaks at any point, yet did nothing until it was far too late.
You can believe whatever you want, but it's quite obvious how this is going to look to historians.
[1]https://www.vox.com/23036340/biden-american-rescue-plan-infl...
In regards to the ARP: "Estimates suggest that fiscal support measures designed to counteract the severity of the pandemic’s economic effect may have contributed to this divergence by raising inflation about 3 percentage points by the end of 2021."
And then Trump: "...because it was enacted after more than $3 trillion had already been spent to stimulate the economy under Trump."
So what is not proper about Trump and Republicans sharing the blame if not shouldering more?....
Listen to Ben Shapiro or other view points for awhile to a better perspective. He has been screaming about inflation for awhile now. Really go out on on a limb and read up on Thomas Sowell.
Um, well, a lot will be different, but nothing with regards to gas prices or inflation. And this is coming from somebody with a passionate bordering on maniacal hate for democrats.
2. Let's all buy a $70,000 electric car. The insurance rate alone would negate any gas savings across a 40 year time frame for most people
So yes, a Democratic admin that cancels projects and talks about windfall tax on oil company profits does disincentivize new supply and raise the cost of oil/gas.
The net result may be even worse greenhouse gas emissions as poor countries turn to coal as a cheaper alternative to Oil.
The energy transition needs to be responsibly managed... a cold cutover will backfire in a huge way, as I'm sure we'll see in November
Money is an exchange medium to facilitate exchanging goods and services. Before money, we exchanged things without that medium, I'll give you a goat and you'll give me a haircut. Money is a symbol, a record of sorts, and a grease of sorts, a means to an end (to make it easier to exchange things).
When the government locks the economy down, and prints money, this creates a huge demand (the money given to people and low interest rates handed out, mostly in trickle-down fashion from the top), but the demand doesn't match the goods and services that weren't being produced. Suddenly it's become obvious that things cost more, because there's more money and less things.
The fact that our President just this week called it "Putin's price increases" tells you all you need to do know about the quality of our leadership. Lo and behold, it was not better than the previous leadership, which said equally stupid things.
It might just be that the government (Republican or Democrat) should be legally limited from doing certain things, like racking up debt.
[1]: https://projects.fivethirtyeight.com/biden-approval-rating/
Let's elect fiscal conservatives into power. Remember when the Ukraine aid bill was $30B, and then Democrats raised it to $40B? Rand Paul questioned the purpose of this spending, and MSNBC smeared him as a Russia sympathizer. Republicans tend to sometimes care about getting spending under control. But with the state of the economy being directly impacted by inflation, I have more confidence in Republicans to take on this challenge.