GDP report reveals ominous Great Depression warning sign not seen since 1932
- Thread starter Stringfellow Hawk
- Start date
Another excuse.
You always have an excuse for why you will never defend your argument.
The message you are sending is that you're too chickenshit to engage in debate because people will find out that you ultimately do not sincerely believe anything you post on JPP.
Into the Night
Verified User
RQAA.
Since 1968, there have been four Presidents who had double digit inflation, but only one of them was a Democrat. Nixon, Ford, and Reagan all had double digit inflation, as did Carter.
Reagan and Bush more than doubled the debt. Obama did not.
serendipity
Verified User
Well said!
PostmodernProphet
fully immersed in faith..
1) "Nixon, Ford, and Reagan all had double digit inflation, as did Carter"
Inflation in 1974 hit double digits.....
https://www.macrotrends.net/countries/USA/united-states/inflation-rate-Tcpi#:~:text=U.S.%20inflation%20rate%20for%202020,a%200.31%25%20increase%20from%202017.
the reason was similar to what we face now..
Nixon was impeached. Inflation under Ford was not double digit.....
Inflation hit double digits again in 1979......Carter was president......Reagan was elected in November 1980 and inaugurated in January, 1981.....inflation was dropping dramatically and by the end of Reagan's first year in office was down to 6%......don't waste your time pretending Reagan was responsible for Carter's inflation......
2) "Reagan and Bush more than doubled the debt. Obama did not"
https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287
Reagan more than doubled the national debt.....yes.....during his eight years in office the debt went from $998B to $2.6 for an increase of $1.6T
Bush more than doubled the national debt.....close....during his eight years in office the debt went from $5.8T to $10.025T for an increase of $4.2T....
Obama did not.......again close......during his eight years in office the debt went from $10.025T to $19.6T for an increase of $9.6T....
so you can claim fiscal responsibility for Obama if you want.......but you'll need to ignore that he added almost as much to the national debt as Reagan, Bush and Trump, combined.......
I agree, though I am not sure you know what you are agreeing to. Nixon had a compliant Fed Reserve that he convinced to let growth go out of control in a successful attempt to get reelected. trump was also desperate to get reelected.
The exact opposite, Carter was responsible for Reagan's inflation numbers, or more exactly a Carter appointee. Volcker raised rates to 20%. It was absolutely insane the amount of damage he was willing to do for what he believed was the greater good of reducing inflation. Maybe I give too much credit to Carter for appointing Volcker, but giving Reagan any credit for that would be even more silly.
Clinton, Obama, and now Biden took over during times of extremely high deficit, and then spent their Presidency reducing the deficit greatly. Reagan, Bush, Bush, and trump all increased the deficit greatly, and left disasters in their wake. Anyone else notice a pattern here?
PostmodernProphet
fully immersed in faith..
absolutely........your lies and denial of fact perfectly match other lib'rul posters here.......I gave you data from the Treasury Department.......you've given us what you drop from your ass......