Inflation Rises After Joe Biden Signs ‘Inflation Reduction Act’ and Prepares White House Celebration

Discussion in 'Current Events' started by XXJefferson#51, Sep 13, 2022.

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  1. XXJefferson#51

    XXJefferson#51 Banned

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    The White House is planning a celebration of President Joe Biden’s “Inflation Reduction Act” on Tuesday, even as consumer prices rose again in August, according to the latest numbers from the federal government.

    The Bureau of Labor Statistics’ Consumer Price Index released Tuesday morning shows that inflation in August rose one-tenth of a percentage point from July and up 8.3 percent from the previous year.

    Grocery prices continue rising fast, as prices rose 0.7 percent from July and 13.5 percent from the previous year. Restaurant prices are up 0.9 percent from July

    The “Inflation Reduction Act” spends billions of dollars subsidizing green energy projects, subsidies for electric cars, and propping up government-subsidized health care…







    https://www.breitbart.com/politics/...ion-act-and-prepares-white-house-celebration/









    By all means, let’s celebrate. There’s so much here to rejoice over. Rising interest rates, sky high inflation, budget busting debt and gas pricing s starting higher again too. This is horrible news.
     
    XXJefferson#51, Sep 13, 2022
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  2. independentthinker

    independentthinker Banned

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    I'm sure Biden will now be saying that inflation is less than zero.
     
    independentthinker, Sep 13, 2022
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  3. XXJefferson#51

    XXJefferson#51 Banned

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    Democrats have so much to celebrate now post their inflation fighting bill passing. It will be a great campaign issue for them. :roflol::rock_slayer:
     
    XXJefferson#51, Sep 13, 2022
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  4. LiveUninhibited

    LiveUninhibited Well-Known Member

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    I hope you're not implying that his legislation should already have had an impact one way or the other. That's the thing about legislation. People expect its effects to be immediate, but they usually aren't. It's true the things described wouldn't be a quick fix for inflation. But would they create a lower-inflation healthier economy in the long run? Yes. Lower oil dependency sounds good. The next republican could then pull a Reagan and claim credit for things having nothing to do with his policies.
     
    LiveUninhibited, Sep 13, 2022
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  5. doombug

    doombug Well-Known Member

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    Hahaha!

    Biden and the dems want to celebrate their wrecking of the economy? Wow, how clueless can they be?

    I am sure folks that support them will try.......
     
    doombug, Sep 13, 2022
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  6. doombug

    doombug Well-Known Member

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    Yet Biden was preparing to celebrate......how clueless can he be?
     
    doombug, Sep 13, 2022
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  7. XXJefferson#51

    XXJefferson#51 Banned

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    We are energy independent as long as we use an all of the above energy policy. This green stuff will lead to strip mining the earth for rare earth metals mostly in China and make us rely on slave labor there and child labor in Africa. It then takes a lot of coal for China to construct the stuff so we can be dependent on them for it. Then we will plug the electric cars into fossil fueled power plants to make them work. Then when the windmill bird killing blades, solar panels , and electric batteries wear out they will fill landfills as UN recyclable junk.
     
    Last edited: Sep 13, 2022
    XXJefferson#51, Sep 13, 2022
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  8. XXJefferson#51

    XXJefferson#51 Banned

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    Maybe he will say that about interest rates too by the end of the week…
     
    XXJefferson#51, Sep 13, 2022
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  9. XXJefferson#51

    XXJefferson#51 Banned

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    He will find out how clueless he is on November 8.
     
    XXJefferson#51, Sep 13, 2022
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  10. sec

    sec Well-Known Member

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    nah, there is no inflation, no wait, it's temporary, no wait, we need to take from the productive and redistribute and call it Inflation Reduction Act for the inflation that doesn't exist.

    Spare us please. Full Democrat control caused this hardship upon Americans
     
    sec, Sep 13, 2022
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  11. Egoboy

    Egoboy Well-Known Member Past Donor

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    Oh, for crying out loud, they're not going to READ all that, much less understand it....

    Finally, a nice day to have an outdoor celebration in Washington.... All as a result of the recently signed Humidity Reduction Act....

    I'm betting on the aviator shades today....
     
    Egoboy, Sep 13, 2022
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  12. doombug

    doombug Well-Known Member

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    And who is the turd responsible for that.....
    FB_IMG_1663098127952.jpg
     
    doombug, Sep 13, 2022
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  13. XXJefferson#51

    XXJefferson#51 Banned

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    Democrat government is by definition a hardship upon real Americans.
     
    XXJefferson#51, Sep 13, 2022
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  14. Egoboy

    Egoboy Well-Known Member Past Donor

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    Aviators baby!!!

    Apparently, singer James Taylor stopped by to sing his favorite GOP song... where they're all gonna be after November 8th...

     
    Egoboy, Sep 13, 2022
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  15. ButterBalls

    ButterBalls Well-Known Member

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    The one constant with ByDummy and his merry DNC clan is, "Over the next two decades" we will see GREAT THINGS.. This is their new and improved "War on poverty scam"! Now they can make promises "They never have to fulfill" for decade's?

    Best scam artist to date and best "Kick the can down the road" PROMICES that EVER/NEVER happen!
     
    Last edited: Sep 13, 2022
    ButterBalls, Sep 13, 2022
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  16. Vote4Future

    Vote4Future Well-Known Member

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    Joe Biden and the Democrats destroying this nation one day at a time!
     
    Vote4Future, Sep 13, 2022
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  17. Steve N

    Steve N Well-Known Member Past Donor

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    No one ever explained how it would reduce inflation.
     
    Steve N, Sep 13, 2022
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  18. Talon

    Talon Well-Known Member Past Donor

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    And the Dow celebrated by cratering 1276 points...



    Let's celebrate some more next week after the Fed jacks up rates 75 bps.

    And remember, all is going according to Biden & Co.'s plan....

    “And when it comes to the gas prices, we're going through an incredible transition that is taking place that, God willing, when it's over, we'll be stronger and the world will be stronger and less reliant on fossil fuels when this is over.”

    “I don’t want to hear any more of these lies about reckless spending. We’re changing people’s lives!

    --The Skid Mark
     
    Talon, Sep 13, 2022
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  19. ButterBalls

    ButterBalls Well-Known Member

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    Sadly, the leftist arithmatricks don't work on the Republican!
     
    ButterBalls, Sep 13, 2022
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  20. LiveUninhibited

    LiveUninhibited Well-Known Member

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    In the simplest sense, inflation can happen when demand outstrips supply. If you increase efficiency in the economy, supply increases. Green energy increases efficiency, but not quickly. The current crisis is largely due to disruptions to the global economy from covid and covid policy.

    From Forbes op-ed: "
    Accelerating renewable energy deployment fights inflation by reducing energy bills. The U.S. Department of Energy forecasts electricity prices will increase 6.1% this year, due mainly to high natural gas prices. Fossil fuels still provide 60% of annual U.S. electricity generation, mostly from natural gas, but fuel commodities are subject to global market forces. For example, Russia’s invasion of Ukraine is partly responsible for U.S. natural gas prices being two to three times higher than last year.

    Because renewable “fuel” is free once projects are built, low-cost wind and solar put downward pressure on electricity bills and stabilize costs over time, curtailing inflation. Global oil price shocks will affect consumers at the pump tomorrow, but today’s operational wind and solar projects are fully insulated over their lifetimes from any changes to their component prices.

    However, renewable uptake isn’t happening quickly enough to provide needed relief for the climate and consumers. "

    Inflation Reduction Act Benefits: Clean Energy Tax Credits Could Double Deployment (forbes.com)
     
    LiveUninhibited, Sep 13, 2022
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  21. XXJefferson#51

    XXJefferson#51 Banned

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    Because it won’t and can’t.
     
    XXJefferson#51, Sep 13, 2022
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  22. ButterBalls

    ButterBalls Well-Known Member

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    If you think about it, the real incredible thing in all this is how supposedly intelligent people are actually buying in to this scam..
     
    ButterBalls, Sep 13, 2022
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  23. XXJefferson#51

    XXJefferson#51 Banned

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    I lost quite a bit of money today. I’ll get even for this driving of me into poverty on 8 November
     
    XXJefferson#51, Sep 13, 2022
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  24. Egoboy

    Egoboy Well-Known Member Past Donor

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    No one ever explained how the 2017 "Tax Cuts and Jobs" act would do either for regular people..... either... And it didn't...

    Certainly not to the people voting on it...
     
    Egoboy, Sep 13, 2022
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  25. Talon

    Talon Well-Known Member Past Donor

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    Key words: "supposedly intelligent"
     
    Talon, Sep 13, 2022
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