It's CNN, so it's probably triple that amount.
CNN - Biden
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10% for the big guy....or maybe more. Hunter tried to warn all of us about his abusive father.
How much more per month are people making? I think that's a fair question to ask as well. For example....are households earning $1k more per month? Is it $500? Is it $1500? Is it $1,179 per month?
I'm spending more than I was under trump but it has nothing to do with Biden (more kids and mouths to feed). Anecdotal? Sure...but it's all due to personal choices and not someone else's fault.
Also, I'm willing to be that people are traveling more now than when Biden was inaugurated (traveling to work, traveling for pleasure) and that has to be factored in.
Is inflation a factor? Sure. Is it the only factor? No way.
I'm spending more than I was under trump but it has nothing to do with Biden (more kids and mouths to feed). Anecdotal? Sure...but it's all due to personal choices and not someone else's fault.
Also, I'm willing to be that people are traveling more now than when Biden was inaugurated (traveling to work, traveling for pleasure) and that has to be factored in.
Is inflation a factor? Sure. Is it the only factor? No way.
Yeah but it united the country.
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I can give you what it did to me. I figured it up two years ago. I have a family of 6. In 2022 my bills were 1400 more per month than they were in 2020. It is more than that now. I made a little more money last year. But the cost to run the business also went up. I don’t even want to talk about the difference in my tax bill. Your point is taken that people have been affected differently. It may not be so bad for some, but I bet for others it is even worse.
Where the rubber meets the road was in the voting. People like you and others from the left made excuses and tried to put lipstick on a pig. I hear it everyday here. How bad it is out there? I wondered if it would show in the polls. It did. And a huge shift happened. All of the sudden the pubs became the party of the working class. I hope the left continues to put their head in the sand and try to spin what happened.
Just be ready to bash Trump when inflation is up under his watch as well. Tariffs are inflationary by nature.
I’ll certainly praise him if it’s down to 2%.
Inflation kills presidencies and it kills economies.
What you hope if the tariffs he threatens or actually uses cause more inflation, that he finds a way to cut costs in other places to help Americans. The money from the tariffs will go somewhere helpful also. Or at least that is how we hope it will work. It is worth a try. What we have been doing over the last four years is certainly a colossal failure my friend
No disrespect, but Trump can’t do anything about what prices companies charge. So he won’t “do anything” about that.
The only thing a president can do, which Trump has already promised to do, is put import tariffs on which raise the cost of finished goods and raw materials. All those cars will simply be passed on to the customer and cost will go up rapidly.
The only real player here is to hope that he’s bluffing in order to get some sort of concession. If he actually puts these tariffs on, they’ll hurt. My family is already paying too much for groceries, and we do well.
Not trying to spin anything just looking for a cordial discussion because that graphic is misleading and the net result is really all that matters if you are doing a true and fair analysis.
The cost to run businesses went up I agree with you there (wages for employees, insurance costs, etc.). And I respect your view as a business owner...it's good to get different perspectives.
I'm just curious to see the net effect of incomes vs household expenses for people. How is that impacted by side hustles? Gig economy? Investments? We can't just point to "expenses were up" and that be the end of it. It's an accounting equation that needs both inputs to get answer.
I'm paying more in taxes than I was under trump....but it has nothing to do with bidens policies (trump's TCAJ is still in effect for another year). It has everything to do with me making more money (of which I am grateful but it's purely due to hard work and not a product of either president).
I'm also paying a smaller mortgage payment today than I was when trump was elected (~$300 less). And it has nothing to do with any trump or Biden policy. It has everything to do with timing and COVID.
And I agree with you that folks voted solely with their wallet as they often do. I don't agree with that approach because it is shortsighted but that's just me....there are other factors to consider when electing our leaders. But in the end that it was swung the election to trump; agree wholeheartedly there.
All I'm saying is the discussion is missing a variable that is important for us to have a real discussion about how the Biden years have impacted households.
An entire generation of people who could afford to buy a house in 2020 absolutely cannot now. And the monthly cost analysis doesn't even take that into account. It is pathetic. Hint: your cheap mortgage was originated prior to the Biden infused inflation that brought us these totally unworkable mortgage rates.
I don’t believe that. I believe the right energy policies can certainly bring down costs. Tariffs can be useful. Even Biden didn’t get rid of his last go round of tariffs. Because they worked. If you lower the cost to produce, it should create competition which will lower prices. If you can also deregulate things that are beyond ridiculous costs can be reduced. There is a fine line not to deregulate too much. Companies will look as giving an inch as a prelude to a mile, but it does have an effect. That is just common sense.
Why are you so bent out of shape regarding the tariffs? They can be good at times and bad at times. They do not directly affect prices. They can directly affect prices.
He has also promised lower the costs of energy which will indirectly affect prices on may goods and services. A 10% decrease in energy cost would dwarf the affect of any affect caused by tariffs.
I hope you didn’t think I was not being cordial. I apologize if so. There is a variable for sure. But when you are looking at this, I think you view it through the wrong lens. Which is why I responded. You can’t try to pretend Nothing is wrong like Biden did. Or say I wouldn’t change a thing. You are trying to minimize what is actually happened. No matter who your ideology leads you to blame, reality is the guy or woman in charge at the time where the buck stops. Will be the same with Trump. People here want him to change immigration. Work on the tax code to help the middle class for once. The numbers say the rich got richer, the middle class shrunk, and the poor got poorer. That is just one reason Biden was a trainwreck. There are 1000’s of reasons. This election may not have been an aberration. It may have been a shift. We will see. It is happening all over the world.
My situation is likely similar to a lot of people out there. Which is why someone with trumps’s many issues still won with a mandate. Like it or not.
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I am not in any way bent out of shape. I’m having a conversation on the message board.
Also, natural gas and oil are commodities that are sold in a global market. So they’re not going to decrease any costs here.
All good.
I'm taking more of an issue with the original content lacking in detail to reach a valid conclusion. Because we all have different experiences, as you and I have noted. I just know plenty of people on both sides of the aisle who have improved their station in life and it's not due to who was in office.
The middle class has been shrinking since 1970....so color me skeptical that trump is going to be a savior to the middle class...but let's hope he can actually do something about it.
My cheap mortgage was the product of a knee jerk reaction by the fed and was not impacted by any policy implemented by either trumps or bidens administration... nothing more
That statement is not accurate. I do not know if you are serious or not. They can definitely decrease or increase costs here. Biden increased costs here with his policies. COVID also increased the energy costs but his policies increased the cost as well.
Using your logic, the 7% interest rates under Biden were just "knee jerk" reactions by the the fed and therefore when Trump is inaugurated, they can just have another "knee jerk" reaction and make them 2% again?
I don't like the Fed but I also disagree with your logic.
Which don't you agree with?
That the fed rate cut, not trump or Biden, was the reason I was able to refinance my mortgage for a lower rate? And that those lower rates led to home price increases?
Or
That they made a knee jerk reaction with rate cuts in 2020?
Because those are 2 different discussions.
This guy has no clue on real life everyday issues…obviously has not had to worry about meeting a payroll..either gets a govt check each month. or mommy and daddy take care of him
I want him to stop this redistribution of wealth and reverse it! The Dems lied about helping the middle class they gave it to the rich and they were trying to destroy the middle class.
And all the cheap mortgages available before Covid?
The fed doesn’t just arbitrarily decide to move rates. They can afford to keep them low when inflation is in check. And are forced to raise them when jackasses like Biden print money and artificially restrict the supply of goods and labor with prolonged shutdowns of schools and businesses - driving inflation not seen in 40 years. Biden owns the rates too. The absolute worst Prez in history.
I never said the fed arbitrarily moves rates; you're reaching that conclusion somehow.
Again, my cheap mortgage is not a product of trump or Biden policies. Mortgage rates increased in year 2 under trump...is that his fault? (No...it's not)
I guess the trillions of dollars trump pumped into the system are discounted because of the jersey he's wearing.
Biden and trump are both at fault when it comes to inflation. And we elected one jackass to replace the other.
It’s about time CNN is truthful about something.
Mortgage rates increased from the mid 3’s to the mid 4’s at one point in Trump’s presidency. All very workable and generally cheap. Normal market movements.
They moved from low 3’s to now close to 7.5 under Biden. Completely freezing the housing market. And those movements were a direct result of the Fed’s unprecedented response to inflation. The second stimulus, prolonged shutdowns-downs, over-regulation, etc, etc. The lack of access to first homes is a big reason Trump won, and rightly so.
I’m glad you brought up stimulus:
As for the first stimulus under Trump. It was passed unanimously. I’ll say that again. Unanimously by congress. When the entire country was forced to stay in their homes.
Biden’s stimulus passed on strict party lines at a time when the pandemic was clearly over or at the very least winding down with the availability of vaccines and every red state back to normal. To say nothing about the other massive spending bills Biden likes to tout that benefited big tech at the expense of everyone else.
Take the L. Enjoy the next 12 years of republican leadership.
Believe it or not Big Government Big spending Big waste causes us the people big problems. less Govenment less spending less waste means less problem for people. The Dems don't belive that. You have decide what you believe and vote accordingly
So many factors beyond anyone's control affected inflation and the cost of living, especially the President. Recovering from the Covid pandemic; Putin/Russia invading Ukraine with impacts on energy, global transportation stoppages, etc; world wide inflation, etc.
Personally, I would pay more for groceries and have a President that would protect our democracy rather than have a felon President who is a pathological liar, sexual predator and narcisist.
I will admit that there are factors beyond policy that partly caused inflation. The problem is that Biden policy threw gas on the embers of inflation. He artifically inflated demand by printing money and giving it to the masses on a strict party line vote......and artificially restricted supply of goods and labor by pushing shutdowns of businesses and schools.....and all the blue State governors toed the line. He owns it. And the world economy goes as the US economy goes. We exported inflation globally with our own policy.
As to the last part of your post.....hilarious. I'm assuming the "honest" President you would rather have is Biden? Jesus. Incompetent, corrupt, and dishonest.
Trump may be an asshole, but he is highly competent and can lead.
Nope. Inflation has been heating up as of late so it'll continue for a short while, but Trump's handling of energy alone will tamp down inflation. And as far are the tariffs go, it's a tactic. I see him only imposing them on targeted products from China, if necessary.
All of these dire predictions are hilarious. The guy is going to do what he did before, and he built a tremendous economy last time. There's no real guessing or forecasting here. But the TDS crowd will anyway.
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