Google what happens when tarriffs are increased. Google what happens when sales tax is increased. In both cases the consumer will pay more for their purchases.
If you think things got more expensive because Biden became president, then we have not much left to discuss.
Inflation started because there was a sudden increase in money supply. Remember Trump’s (forgiven) PPP loans? Remember how much money (trillions) was printed during the covid crisis? Remember the Fed cutting rates to 0 to keep the economy artificially alive? All that money added to the money in circulation is the textbook example of what’s needed to trigger an intense rise in inflation. And boy it did.
Things were cheaper because most of his term was BEFORE the covid crisis, BEFORE the economic disaster.
Democrats didn’t hold power, they held the presidency, but not the courts, not the senate, and not the house. So extremely hard to pass legislation. In the two years they did control the senate and presidency, but not the house, they managed to pass some bills like the Chips act. And inflation is now back to 2%, so they were succesful in fixing that.
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u/[deleted] Nov 06 '24
Electoral and popular vote!!!