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Biden: Highest inflation in 39 years means Congress must pass $2T spending bill
NY Post ^ | 12/10/21 | Steven Nelson

Posted on 12/10/2021 9:55:19 AM PST by conservative98

President Biden brushed off government data showing the highest inflation in 39 years Friday, arguing that the declining value of the US dollar means that Congress should pass his $2 trillion social and environmental spending bill.

“For anyone who, like me, is concerned about costs facing American families, passing [the Build Back Better Act] is the most immediate and direct step we can take to deliver,” Biden said in a statement.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; Politics/Elections; US: New York
KEYWORDS: biden; economicilliterate; imbecileinchief; inflation; newyork; newyorkcity; newyorkpost; stevennelson
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To: OttawaFreeper

Biden was in power 39 years ago too, but I doubt he remembers when inflation was higher.


41 posted on 12/10/2021 10:25:58 AM PST by Tai_Chung
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To: conservative98

Yeah, dig your way out of the inflation hole by digging the hole deeper. Ending inflation is going to be really ugly. It seems most here are old enough to remember the late 70’s/early 80’s. It wasn’t pretty. There will have to be drastic changes in monetary policy and businesses will need to significantly increase productivity while cutting investments. There will be “right-sizing”, which will increase unemployment and concurrently increasing the work load and overtime for remaining employees, particularly salaried employees. Meanwhile, the cost of credit will set a trap for the impatient consumer. Words of advice, you lived without that slave labor chink crap up to this point so you don’t have to buy it on credit.


42 posted on 12/10/2021 10:29:10 AM PST by ConservativeInPA ("Goats are like mushrooms. Because if you shoot a duck, I'm afraid of toasters." - Joe Biden)
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To: conservative98

It is inevitable that our debt and borrowing will collapse the dollar. The world sees this too and many people are looking for another form of reserve currency that is not tied to corruptocrats in Washington, DC.

While I cannot approve of such idiocy on the merits part of me wishes it would happen so that I can deal with it rather than my children. What are we doing to our children and grandchildren?

The great reset is coming. It is immoral, unethical, and even unconstitutional to put the burden of this on our children. Why are people so blind?


43 posted on 12/10/2021 10:34:10 AM PST by volunbeer (Find the truth and accept it - anything else is delusional)
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To: redshawk

A stack of bills worth 2trillion is about 136,000 miles high.

Not counting the illegals, it’s only 606 dollars per citizen.


44 posted on 12/10/2021 10:35:28 AM PST by redshawk ( I want my red balloon. ( https://youtu.be/zNLpfEDliV0)
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To: conservative98

We have inflation. “Hurry, print 2 trillion out of thin air”.

I need to buy another sack of rice.


45 posted on 12/10/2021 10:36:39 AM PST by DesertRhino (Dogs are called man's best friend. Moslems hate dogs. Add it up....)
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To: conservative98

And our most mal-educated, least intelligent professional class, journalists and teachers, collectively sigh at the Dear Leader’s wisdom and say, “Makes sense to me!”


46 posted on 12/10/2021 10:38:10 AM PST by nicollo
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To: conservative98

$2T is about $6,000/American

The IRS has my checking account number, Joe. Just have your helpers add $6,000 to the account.


47 posted on 12/10/2021 10:38:11 AM PST by Brian Griffin ( )
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To: conservative98

Keynesian Economics. Govt spending to get out of a recession. Doesn’t work! Franklin Roosevelt tried it and we got the great depression, lasting 9+ years. Again, it doesn’t work. Taxing the population , either directly or through inflation does not produce wealth. Like using a credit card to get out of debt.

Tax cuts, leaving more money in the hands of the population and wealth producers, will end a recession


48 posted on 12/10/2021 10:43:42 AM PST by dirtymac ( Now Is The Time For All Good Men To ComeTo The Aid Of Their Country! NOW)
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To: OttawaFreeper
Oh yes, give the drug addict more dope, eh?

We'll he has experience with Drug abuse as a parent of drug addicted kids, isn't that literally what the country voted for.

49 posted on 12/10/2021 10:46:15 AM PST by Bayard
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To: Hostage

Really? I’m extremely conservative with my credit cards, they’re always telling me I can get more credit, which I seriously do not want or need. Not a rich person by any means, just a poor little old lady with a high IQ.

Come to think of it, I’m probably FJB’s worst nightmare.


50 posted on 12/10/2021 10:53:51 AM PST by Veto! (Political Correctness Offends Me)
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To: conservative98

I thought they had to pass it because covid.


51 posted on 12/10/2021 10:54:54 AM PST by bigbob
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To: conservative98
I'll let this chart be my comment. It says volumes.


52 posted on 12/10/2021 11:09:26 AM PST by upchuck (The longer I remain unjabbed with the clot-shot, the more evidence I see supporting my decision.)
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To: conservative98

The definition of insanity...


53 posted on 12/10/2021 11:11:50 AM PST by Thunder90 (All posts soley represent my own opinion.)
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To: conservative98

Yessss-— More Keynesian economic “logic” got inflation— PRINT AND DISTRIBUTE MORE CURRENCY. do it digitally and that will ... bring down inflation.

NO IT WILL NOT. See: Weimar Germany the paper currency model.

STOP monetizing the debt with Fed Reserve “money”. See: result of these actions in Zimbabwe. A Trillion dollar single currency bill printed up. such was their inflation.


54 posted on 12/10/2021 11:17:41 AM PST by John S Mosby ( Sic Semper Tyrannis)
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To: DesertRhino

Excellent analogy— from old Nippon. Wasn’t the standard of wealth the amount of rice one could store. As in be able to trade/barter to people who needed to... eat!

The unit was “koku(s)” i think.


55 posted on 12/10/2021 11:24:41 AM PST by John S Mosby ( Sic Semper Tyrannis)
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To: nicollo
"And our most mal-educated, least intelligent professional class, journalists and teachers, collectively sigh at the Dear Leader’s wisdom and say, 'Makes sense to me!'"

Not all teachers. I work with several who are Conservative in my school alone, and I know several others in other school systems in the region. We just tend to be somewhat outnumbered, so our influence isn't as widespread as it could be with larger numbers of right-leaning folks taking up the field.

Oh, and not all teachers are "mal-educated" as you so delicately put it...

56 posted on 12/10/2021 11:25:38 AM PST by EnigmaticAnomaly ("The truth doesn't damage points of view that are legitimate.")
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To: Veto!

I forgot to add “/S” to my post.


57 posted on 12/10/2021 11:34:09 AM PST by Hostage (Article V)
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To: redshawk

Not counting the illegals, it’s only 606 dollars per citizen.


You’re low by one order of magnitude.


58 posted on 12/10/2021 11:51:35 AM PST by nesnah (Infringe - act so as to limit or undermine [something]; encroach on)
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To: Jim Robinson; GOPJ
"That is the way to peace"


59 posted on 12/10/2021 12:08:17 PM PST by ding_dong_daddy_from_dumas (Re-imagine the media!)
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To: conservative98

Morons.


60 posted on 12/10/2021 12:24:13 PM PST by KC_Conspirator
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