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Personal Incomes are up almost a half a trillion dollars in the last two quarters.

Personal Incomes are up almost a half a trillion dollars in the last two quarters. | REAL GROSS DOMESTIC PRODUCT (GDP) INCREASED AT AN ANNUAL RATE OF 4.9 PERCENT IN THE THIRD QUARTER OF 2023 . THE EU, RUSSIA AND CHINA ARE NOT DOING SO WELL. BIDEN'S "AMERICANS FIRST," PLAN, WHICH GREW OUR ECONOMY FROM THE MIDDLE OUT, IS PAYING OFF. | image tagged in politics | made w/ Imgflip meme maker
236 views 4 upvotes Made by LarryCaird 3 years ago in politics
4 Comments
1 up, 3y
A recent article by the Roosevelt Institute suggests that today’s inflation comes mostly from sectoral supply-side disruptions, largely the result of the COVID-19 pandemic and its consequent disturbances to supply chains; and disruptions to energy and food markets originating from Russia’s invasion of Ukraine

Joe Biden was not President when the Covid-19 Pandemic was mismanaged, setting up the conditions for today's inflation. A non-secret strong desire to reconstitute the Soviet Union caused Putin to invade Ukraine. This has been discussed by high-ranking Russians many times. Energy prices are artificially high because of actions taken by Putin and OPEC, in concert.

Things would be far worse if Biden hadn't rebuilt our economy in a worker-focused mode. In fact, his policies appear to have averted the Recession most traditional economists were predicting a year ago.
2 ups, 3y
Sure, unless you're a working class family or anyone living on a budget. Inflation is crushing us. Maybe you should get out and do some price comparisons so you can see it first hand?

For every $1.00 that you spent on the day Demented Joe took office, you now have to spend $1.19. That's called a pretty severe loss of earnings power.

Maybe you can take a financial hit like that, but most people can't throw money around the way priviliged liberals can.

You see Larry, unlike our federal govt, we average citizens cannot go $30 trillion in debt to spend money that we don't have for things we don't need.

I'm willing to listen though, to how Joe's economy is helping the middle class instead of crushing it with inflation. What exactly has he done to keep more of his devalued currency in the pockets of the average American? Just spending govt money on pork, or spending it on infrastructure that isn't really infrastructure? Yeah, that's always worked.
1 up, 3y
Higher numbers don't mean much when everything is more expensive. In order to keep up with the inflation you need pay increases that are equal to the inflation. Then don't forget about high interest rates. So if you borrow money then you pay a premium on that when the interest kicks in. Nice poster but it's total BS.
0 ups, 3y
By the way, gas prices are down in October and the market reporter "Gas Buddy," expects them to bottom out at 50-cents a gallon less by Halloween. In my neighborhood they are already down 46-cents a gallon. The stable inflation reported for August means that energy prices are down 15% while other costs remain mostly unchanged for this period.
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REAL GROSS DOMESTIC PRODUCT (GDP) INCREASED AT AN ANNUAL RATE OF 4.9 PERCENT IN THE THIRD QUARTER OF 2023 . THE EU, RUSSIA AND CHINA ARE NOT DOING SO WELL. BIDEN'S "AMERICANS FIRST," PLAN, WHICH GREW OUR ECONOMY FROM THE MIDDLE OUT, IS PAYING OFF.