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Originally Posted by Alan Roehrich
Talk to your boy Beijing Joe. When he took office, gas here went from $1.89 a gallon of regular to $3.29 for a gallon of regular. In under 6 months, strictly on the basis of Biden's energy policy, when he started on the first day by killing the Keystone pipeline, at the stroke of a pen, by executive fiat, putting thousands out of work in the process.Inflation is purely a product of government policy, mostly spending and debt. Inflation under Trump was around 3%. Even now, Biden refuses to accept ANY cuts in government spending, with inflation at near record levels. Not sure how anyone with a brain can believe that we need 87,000 new IRS agents. Not seeing how we need 2-3 IRS agents for every millionaire and billionaire. Between their spending and energy policies, it's the democrats driving fuel prices up, and running inflation to record levels. Jacking the prime interest rate through the Fed has predictably caused a serious credit crunch. There's your recession.
You are right about one thing. It was Hoover signing the Smoot Hawley tariffs that started the recession before World War II. But it was FDR that drove the nation further into economic failure, with massive government spending, and enacting a ponzi scheme, only rescued by a cataclysmic World War.
However, in the seventies it was the spending of a democrat congress, worsened by Jimmy Carter. In the nineties, more government spending, another democratic congress, although Bush Sr. was stupid enough to agree to tax hikes, never getting the promised spending cuts. In 2007-2008, the crisis was sub prime lending, forced by the democrats and their demands that banks write loans to borrowers who were terrible risks.
That's a pretty impressive pair of seriously dark tinted rose colored glasses you have there.
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Alan you seemed to have cherry picked the issue, you conveniently missed Eisenhower, Nixon and Reagan. All I am seeing is the dems did it. None of the Presidents had veto power?
The “King of Debt” Trump promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president. This is going to affect our economy for years.
Alan I respect your well thought out opinion but let’s be real, there is enough blame to go around for both parties. I will continue to vote my agenda regardless if it Republican or Democrats. I want you to take a look at what the Congressional Budget Office proposed to Congress with regards to Veterans. I am totally offended my the mere suggestion of cutting benefits. I pressed my representative and got a canned response, “cuts need to be made”…Mr. Calvert, your *** is gone!”