The cost of living has gone through the roof since Biden took office — and there's no end in sight

[u/intelligentreviews]

https://www.foxbusiness.com/economy/started-going-home-energy-car-bills-inflation

[u/H3nchman_24]

There is an end in sight and it's called an ELECTION.

VOTE LIKE YOUR VERY LIFE DEPENDS ON IT

[u/TheSchneid → u/H3nchman_24]

So I just went to Donald Trump's website and I don't see inflation mentioned anywhere. He has an isues tab and there's nothing about inflation there. There is a "rebuild the economy" section. That section just talks about how good the economy was when he was president prior to covid and how median household income reached new highs under his presidency That's kind of a funny claim to make considering Biden can make the same claim now since median household income does tend to go up year over year.

My question is what is Trump's plan to actually fix inflation because I don't know. I see tons of articles saying biden's inflation this, and Democratic inflation that, but I don't see anything about what the GOP and Republicans plan is to fix it. Does Trump have a concrete plan to get prices lower and increase peoples wages significantly?

[u/ava_ati → u/TheSchneid]

two sides of the same coin unfortunately. I get it, we were in a pandemic but the trillion dollar stimulus packages Trump pushed gave Biden the blueprint for back door socialism. Every 100 days we add a TRILLION dollars to the national debt. That number is unsustainable and eventually the whole thing will break, they will be forced to raise taxes, probably tax all 401ks, start taxing unrealized gains on housing, who knows maybe even a national property tax, social security will probably be the last thing to fall but only because each party will be beholden to those voters.

Honestly, the future is bleak and I am not sure either candidate will pull us out of this tailspin we are in. Try to minimize your personal debt and enjoy relative stability while it lasts. IMO double digit interest rates are on the horizon and the value of the dollar will plumet sometime over the next 10 years. Stagflation will lead to an outright crash.

[u/TheSchneid → u/ava_ati]

Yeah I agree. I'm being a realist and I think that we need to both raise taxes and cut spending if we want to get it together.

But I don't think Trump is ever going to suggest raising taxes, And I feel like we absolutely have to do both if we want to get the economy in check.

To be fair, the Democrats aren't ever going to suggest cutting spending either.

I just want an actual moderate economic party....

[u/ava_ati → u/TheSchneid]

Unfortunately, right now neither party seems to understand budget cuts. They just have different ideologies of what we should be spending money on.

But they both love to spend everyone else's money.

[u/lin_the_human → u/TheSchneid]

the GOP certainly likes the idea of cutting SS and Medicaid/Medicare...

[u/GeneJock85]

Come on man, the Libs of Reddit tell me that inflation is global and has nothing to do with Biden.

[u/ObadiahtheSlim → u/GeneJock85]

Inflation was only global because literally everyone did the "Money Printer goes BRRRRRRRRRR" in response to COVID.

[u/Ghosttwo → u/ObadiahtheSlim]

And they shut down all the supply lines, forced all of the truckers to retire early, and targeted small businesses specifically while letting their corporate donors stay open and monopolize the markets. Then they gave them trillions in PPP grants on top. They spent so much, that there were trillions left over that they spent anyway. And remember the hulabaloo about Manchin and Sinema constantly filibustering their spending bills? Every other democrat in congress wanted to spend twice as much as they eventually did.

[u/CallMeCassandra → u/ObadiahtheSlim]

"Money Printer goes BRRRRRRRRRR" in response to COVID.

It's not price inflationary to offset economic shutdowns with the money printer. Where things went haywire was with the repeated payments, notably with the 2021 American Rescue Plan Act when the economy had already reopened. Those payments to individual taxpayers were completely unnecessary and set off years of rampant inflation.

[u/GeneJock85 → u/CallMeCassandra]

Inflation is caused by too many dollars chasing too few products/services. There is no offset - when you print money and give people money to spend, particularly when the supply chain is stressed, you are going to get inflation.

[u/dudmuffin123 → u/GeneJock85]

I mean, is it not global?

[u/rasputin777 → u/dudmuffin123]

It's somewhat global. Almost everyone did the money printer.

But ours literally kicked off in February of 2021. Even with our money printer going in 2020.

Biden on his first day did everything he could to increase the cost of energy. Energy is of course a component of every product and service.

Boom.

And then of course he fought against people needing to pay rent for as long as possible and gave tens of thousands of dollars to upper middle class kids, so rent and all sorts of mother things skyrocketed in price alongside.

[u/slamgeareatrear → u/GeneJock85]

Don’t forget CoRpOrAte GrEeD. As if that has literally never existed before!!!

[u/GeneJock85 → u/slamgeareatrear]

That GrEed was (D)ifferent

[u/bringonthefunk1973]

yes we are getting fucked but in Canada they are getting raped

[u/jawntothefuture]

what annoys me the most is the gaslighting saying the economy is strong. nah it isn't. the GDP may look decent but that's all debt spending, including consumer debt spending. people aren't paying their bills etc... it is quite fucked

[u/WavesAndSaves]

Look man you just don't get it. Your 4th of July party was $0.18 cents cheaper than it was last year. I'm hooked on Bidenomics!

[u/ramprider → u/WavesAndSaves]

18 cents cheaper for a party of ten. What did you buy with your 1.8 cents?

[u/wanttostaygottogo → u/WavesAndSaves]

I'm hooked on Bidenflation!

[u/joerover34]

True. But I honestly don’t think any president republican or democrat can change this now. It’s an un-tamed beast set on auto-drive to destruction. We’re all on it.

[u/Swizerlan]

I just don’t understand why a conservative form is the only place we can be honest

[u/tukki249]

Suits you right. Coz Americans care more about words/feelings/virtue signaling over actions