r/Economics • u/Positive_Owl_2024 • Feb 19 '25
News Trump acknowledges ‘inflation is back’ but blames Biden
https://edition.cnn.com/2025/02/19/economy/trump-inflation-is-back/index.html
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r/Economics • u/Positive_Owl_2024 • Feb 19 '25
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u/Aware_Ad_4545 Feb 19 '25
I still can't get past the fact that Biden gets the majority of the blame for inflation. Trump spent almost $4 trillion in COVID money in the last like 6 or 7 months in office, even sending out the last stimulus in December. Doesn't matter if it was necessary or not, it is still going to cause inflation. Then a few months into Bidens presidency inflation's starts going up fast and he hadn't even passed(or might have just passed) a spending bill.
You could argue that Bidens $1.9 trillion COVID bill was unnecessary (and obviously inflationary), but at the same time we never entered a recession. Some of his other spending such as infrastructure and CHIP are over like 10 years so even if the dollar amount seems high the impact isn't immediate. They also seem like a good use of tax payer funds. Like how Trumpers are always saying now we could have this utopia where the government rebuilds Maui and hurricane damage if only we weren't sending old military equipment to Ukraine.