Inflation has topped out

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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/

Republicans have a new “big lie.” It’s about inflation.

Republicans have a new “big lie,” and it’s about inflation. Around the world, the price of food, fuel and other essentials has gone up by almost 10% over the past year. In the United States, this has happened even as jobs numbers and unemployment have improved under President Biden.

The keystone of the Republican argument on inflation is that President Biden’s deficit spending caused inflation to rise dramatically. Florida Sen. Rick Scott made this argument last year, saying, “...thanks to the insane tax-and-spending spree of President Joe Biden and Democrats in Washington, we are seeing six straight months of raging inflation.

However, PolitiFact rated the claim “mostly false” because the majority of deficit spending over the past six years was signed into law by President Donald Trump.

That’s important, because when Republicans make the case that Washington “spending sprees” are causing inflation, they are blaming themselves. In fiscal year 2020, the last full year of Trump’s presidency, the government ran a deficit of over $3.1 trillion, the largest of all time and the largest as a percentage of GDP since World War II.

Read more at: https://www.charlotteobserver.com/opinion/article262625392.html#storylink=cpy

That should also be the former lawlessly hacked in fake so-called president tRump that is estranged from U.S. Constitutional law and will of the majority voter.
 
The Congressional Budget Office is strictly non-partisan.
HAHAHAHAHAHAHAHAHAHAHAHA!
The weird thing is I have been around long enough to remember Republicans practically guaranteed massive economic meltdowns during the administrations of the last three Democratic presidents

Than you remember nothing.

It was DEMOCRATS that shut down the economy over covid19 fear mongering, causing economic depression that so far has lasted three years.
It was DEMOCRATS that failed to allow an investment bubble to unwind, causing economic depression that lasted four years.
It was DEMOCRATS that passed all the eco-laws that cause businesses to leave or offshore to places like China, and allowed enemies of the United States to rise enough to conduct a horrifying raid on our own soil, causing economic depression that lasted 12 years.

You can't project YOUR problems on Republicans or anybody else.
 
Thanks, I can also agree with your comment about us overall.

Man is not the smartest animals on the planet in terms of addiction to things we really don't need.

Sometimes man let's politics stand in the way of helping the overall good causes in the world.

Choose your politics carefully and make sure you are on the side of progress and the betterment of mankind overall!

You don't get to decide what people need.
 
Because Fauci asked him to close businesses and he complied because he was "following the science". Pretending this was because of Trump policies is just deliberate ignorance.

Trump closed no businesses. DEMOCRATS did that. It was DEMOCRATS governors that shut down activity by closing businesses in their own states. It was DEMOCRATS that sent out the goon squads to enforce it. Fauci and the CDC were the ones putting out the 'safety guidelines', not Trump. That's DEMOCRATS, dude.
 
Nobody claimed this was because of Trump's policies
Lie.
just like the current inflation is not due to Biden's policies.
Lie.
Presidents do not control the economy
Generally true.
and world-wide inflation is not caused by anybody.
Lie. It requires governments and people to print fiat currency.
What did Trump do to comply with Fauci's recommendation to close businesses?
Nothing. Trump didn't close any business.
 
I certainly agree that the large amounts of money spent under both Biden and Trump contributed to the problem, but that does not account for world-wide inflation issues.
Fiat currency is used world-wide, dude. The problem is fiat currency. It is ALWAYS inflationary. In the States, DEMOCRATS are the ones that direct the Fed to print largest sums of money. It was DEMOCRATS that created the Fed and established fiat currency (unconstitutionally)!
Also, with the pandemic causing businesses and employment to drop it was risky not to take any stimulus actions for fear of a severe recession.
The 'pandemic' was artificial. It was fear mongering. Covid does not kill. You can't print your way out an economic depression.
As usual, one's evaluation of the economy is very partisan with members of the president's party seeing it as much better than those of the other.
As usual, you have no idea what you are talking about. You do not understand even what capitalism or socialism is. You continually misquote the Constitution, among other problems such as denying mathematics or even world affairs.
 
I wonder how many times folks said that it "topped out" for Jimmy Carter before he lost that election...
 
100% (well actually they shouldn’t have dropped them like they did once the economy started to open back up and recover.). They just threw fuel on the fire (along with all the fiscal stimulus).

The economy has not recovered. We are still in economic depression.

The few remaining businesses are opening back up, true, but widespread shortages are everywhere. Due to communism in The Oligarchy, people aren't working. City centers are crime ridden so bad that businesses are fleeing them. They are effectively war zones.
 
Republicans have a new “big lie.” It’s about inflation.
You can't make inflation go away by calling it a 'big lie', dude.
Republicans have a new “big lie,” and it’s about inflation. Around the world, the price of food, fuel and other essentials has gone up by almost 10% over the past year. In the United States, this has happened even as jobs numbers and unemployment have improved under President Biden.
Argument from randU fallacy. Making up numbers is not helping you.
The keystone of the Republican argument on inflation is that President Biden’s deficit spending caused inflation to rise dramatically.
Lie. Presidents do not have authority to initiate spending bills or to order the Fed around. THE HOUSE DOES.
Florida Sen. Rick Scott made this argument last year, saying, “...thanks to the insane tax-and-spending spree of President Joe Biden and Democrats in Washington, we are seeing six straight months of raging inflation.
This is correct.
However, PolitiFact rated the claim “mostly false” because the majority of deficit spending over the past six years was signed into law by President Donald Trump.
Lie. You can't project YOUR problems on Trump, dude.
That’s important, because when Republicans make the case that Washington “spending sprees” are causing inflation, they are blaming themselves. In fiscal year 2020, the last full year of Trump’s presidency, the government ran a deficit of over $3.1 trillion, the largest of all time and the largest as a percentage of GDP since World War II.
You can't project YOUR problems on Trump, dude. CONGRESS is the only thing doing this.
No, quoting from the Ministry of Truth sources isn't going to work, dude.
That should also be the former lawlessly hacked in fake so-called president tRump that is estranged from U.S. Constitutional law and will of the majority voter.
Discard of history. Discard of the Constitution of the United States. Omniscience fallacy.
 
.
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/

Feeling stupid yet?
 
This didn't age well. Now that we are 9.1% he probably will post a new thread and pretend that this thread never existed. They will also probably all get together and repeat the "lowest in developed economies" lie.
 
This didn't age well. Now that we are 9.1% he probably will post a new thread and pretend that this thread never existed. They will also probably all get together and repeat the "lowest in developed economies" lie.

It was the CBO that made these projections but yeah, claiming inflation had peaked then projecting over 3% growth for '22 isn't looking real good for them right now.
 
It was the CBO that made these projections but yeah, claiming inflation had peaked then projecting over 3% growth for '22 isn't looking real good for them right now.

CBO projections have not been credible in at least 20 years.
 
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