Inflation has topped out

cawacko said:
This is post is funny and ironic on multiple levels but leaving all that aside are you saying Biden runs the CBO?
Click to expand...
it's hilarious. Biden wanted Build Back Better on top of the infrastructure bill,and the COVID bills passed.
damn all those critters who "pumped money"
 
Jarod said:
No, please re-read it. Tell us what is funny and ironic?
Click to expand...

So in thread discussing CBO projections, and how they got them wrong, your response is it’s silly to blame Biden. Are you not familiar with the CBO? (Hint in case you have to look it up. It’s the Congressional Budget Office and it’s separate from the Executive Office.)
 
cawacko said:
So in thread discussing CBO projections, and how they got them wrong, your response is it’s silly to blame Biden. Are you not familiar with the CBO?
Click to expand...

Reread it, I was saying that blaming inflation on Biden is silly.
 
Jarod said:
Reread it, I was saying that blaming inflation on Biden is silly.
Click to expand...

So in a thread about CBO projections that’s your response? Guess we shouldn’t expect any different. And the economic ignorance in that statement is certainly eye opening
 
Cypress said:
.
CBO Boosts U.S. GDP Growth Estimates, Says Inflation Has Topped and Will Cool to 2% by 2024

U.S. economic growth will exceed 3% in 2022, while roaring inflation has topped and will cool each month to around 2% by some point in 2024, according to a government forecast published Wednesday.

The nonpartisan Congressional Budget Office estimated that real gross domestic product, or GDP, will grow 3.1% in 2022, driven by consumer spending and demand for services, according to the report released Wednesday.

Here's what the CBO sees for the U.S. economy at the end of each year:

-- >Real GDP: 3.1% in 2022, 2.2% in 2023, and 1.5% in 2024.
--> Inflation (measured by CPI): 4.7% in 2022, 2.7% in 2023 and 2.3% in 2024.
--> Unemployment rate: 3.7% in 2022, 3.6% in 2023 and 3.8% in 2024.

https://www.nbcnewyork.com/news/bus...as-topped-and-will-cool-to-2-by-2024/3705810/
Click to expand...
Did CBO give us the Lotto Numbers too? At least if they are correct it will almost get as low as what inflation was when Trump turned over the reins to Dementia Joe. But that will mean inflation ran away for 4 years. So thanks Brandon.
 
Its not like the CBO has a strong record of predicting the future.


In 2013, the CBO projected that 24 million people would have effectuated enrollment, these are people who’ve actually paid their premiums, by 2017. In reality, that number ended up being only 10.3 million....

Similarly poor projections have been made about the nation’s finances as well. Case in point, the CBO initially predicted that Medicare Part D would cost $400 billion, but it instead ended up costing $530 billion. Similar problems have come up with cost projections, as the 2002 farm bill ended up costing $137 billion more than projected and the 2008 farm bill cost $308 billion than projected.
Click to expand...
https://www.freedomworks.org/content/cbo-coverage-projections-have-been-wildly-wrong
 
anatta said:
it's hilarious. Biden wanted Build Back Better on top of the infrastructure bill,and the COVID bills passed.
damn all those critters who "pumped money"
Click to expand...
And a lot of the money they authorized hasn't been spent....yet. So when it's spent it will continue to devalue our dollars.
 
cawacko said:
I guess it’s just piling on at this point, and we know the CBO was just giving projections, but man have they missed the mark here. 9.1% in June, the highest rate in 41 years. People thought slower economic growth would play a role in lowering inflation but the CBO still projected relatively strong growth with slowing inflation. Wrong on both accounts.

Any chance Powell and the Fed don’t raise 75bps next meeting? Highly doubtful now.


https://www.wsj.com/articles/us-inflation-june-2022-consumer-price-index-11657664129?mod=mhp
Click to expand...


Powell will go full point, has to start looking serious.
 
Flash said:
Trump also gave us 15% unemployment, 20 million lost jobs, and a -3.5% GDP.
Click to expand...
Presidents are indeed judged on the totality of their record. They don't get to chop off the parts of their record they'd rather have swept under the rug.

Carter would most likely have beaten Reagan in 1980 if everyone agreed to ignore the events of 1979.
 
Cypress said:
Donald Trumpf practically guaranteed that if Biden were allowed to be elected there would be a massive economic depression.
Click to expand...
The Consumer Price Index for June is 9.1% interest rates are on the rise. The stock market was 31,188.38 when Pedo Pete took office and it's 30,636.71 now. Looks like Trump may be right yet.
 
Cypress said:
Presidents are indeed judged on the totality of their record. They don't get to chop off the parts of their record they'd rather have swept under the rug.

Carter would most likely have beaten Reagan in 1980 if everyone agreed to ignore the events of 1979.
Click to expand...
Yes We all know COVID hit during the Trump administration but even at that The unemployment rate only increased by 1.6 percentage points to 6.3%.
 
ExpressLane said:
Yes We all know COVID hit during the Trump administration but even at that The unemployment rate only increased by 1.6 percentage points to 6.3%.
Click to expand...

Other nations handled the COVID pandemic more competently than Trump and did not experience the massive unemployment and recession that we did.

Trump was even telling Americans in February 2020 not to worry about the virus because we only had 16 cases and it would soon be down to zero.
 
You must log in or register to reply here.
Back
Top