BilboBaggins
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Federal Reserve puts about 3% of the inflation (currently at 8%-ish) on the COVID-19 money printing. So you'd really be trying to pin a fraction of this fraction of the inflation on the Biden Administration--oh wait you created a crafty way to frame it "enabled the downward trend to pick up speed." Yeah I've seen a lot of economists say the same thing. /sNot weird at all, the first two rounds were from the Trump Administration, the last round came under Biden. My understanding is that the third round was the largest and almost equal to the first two rounds combined.
Maybe just say a fair thing like "it was a bipartisan creation that probably shouldn't have happened and yeah Trump was all in for it too."
Most of the ARPA spending hasn't even happened yet. For instance my town received, through grants or direct payments, about $2,000,000. About $30,000 of it has been spent. Just saying it's impact is a fraction of that fraction in the blame game.
The real tragedy here is we will have to go another generation of conservatives glossing over the fact that the pandemic proved that increasing the spending power of the middle and lower classes is an ENORMOUS economic demand juggernaut. To see people create a fiction that rising wages play a huge roll in inflation is pretty sad. It's like a whole half of the country will adopt this myth that we need a permanent underclass of low-paid workers to create prosperity for upper middle class Americans. In reality we should be taking the lesson of "more middle lower class spending = huge economic engine" and try to utilize that when we don't have a globalized just-in-time supply chain fuck up causing strain in every industry.
But just you wait, the monied interests will be right there with their think-tanks waiting to churn out talking points about how the inflation of 2022 was because Joe Schmo at Chipotle suddenly got a raise and we just can't have that.
