red viking

You need to learn to read more carefully. i said that fixing inflation could be done without raising rates. Yes, the inflation has everything to do with the money supply. The money supply increased dramatically during the COVID era due to our massive deficit. https://fred.stlouisfed.org/series/FYFSD In fact, most economists will tell you that if we truly balanced the budget 100%, we'd go into a depression and probably have DEFLATION. there's a sweet spot in the middle where we'd definitely slow down inflation significantly but people ignore that.

The month over month inflation rate was already increasing significantly by end of Jan 2021 (when Biden was sworn in). Monthly rate for Jan '21 was 0.5%, which comes out to 6% annually. By March '21 (also before any of Biden's policies could impact inflation) it was up to 0.9% for the month, which comes out to >10% annual rate. Biden continued the policy, but if you also look at money supply graphs, you'll see that the recent mass printing of money started under Fat Donny. The inflation was inevitable at that point. . https://ycharts.com/indicators/us_monthly_inflation_rate

Funny that you make that claim when pretty much all economists agree that the insane deficit spending (see graph in my link above) that occurred during the COVID era (starting w/ Fat Donny) was the primary driver of the inflation that started ramping up near the end of 2020.

Coral reefs are thriving? Huh? Where did you get that? Fox News? Every reputable source that I've seen indicates that they have diminished significantly. A lot of the CO2 that we spew out ends up in the ocean and lowers the pH of the water. That, in addition to the increased temps, have killed much of the coral.

I don't know what to do about it mspart. What we do about it is a 100% different subject than whether it is occurring or not. Let's at least just be honest about what's happening and then go from there.

Spending is generally steady as a % of GDP since 1980. The increase that we've had can mostly, if not completely be attributed to the interest payments on the debt. More bogus claims by the 'wingers. https://fred.stlouisfed.org/series/FYONGDA188S

As reported by New Scientist back in 2007…

I said repeatedly that we also probably need to cut spending; particularly on our fat & bloated military. Some cuts in other areas may also be reasonable but not nearly as much waste in those areas. Your argument "Any increases in taxes will be met with increased deficit spending" can easily be flipped on its head to "any decrease in spending will be met with decreased taxes." Yes, our leaders need to make difficult decisions that are going to result in a lot of negative press. No matter how they do it.

https://www.newswise.com/factcheck/rising-temperatures-may-cause-a-rise-in-carbon-dioxide-but-this-does-not-refute-human-caused-climate-change

Completely unreasonable to assert that we can realistically reduce the deficit by any meaningful amount by relying 100% upon spending cuts; especially when these same people hypocritically want to INCREASE military spending, which is already a fat, bloated pig.

Gotta laugh when people cherry pick studies. The vast majority of the evidence overwhelmingly indicates that humans are causing the CO2 increase and also the VERY rapid temperature increases. I've asked a few times to provide names of reputable climatologists (at NASA, NOAA, major universities) that support the assertion that humans are not causing it. Instead, people just continue to rely on cherry-picked conclusions like this one and information that doesn't even come from climatologists and most commonly people with no climatology background whatsoever. Laughable.

Dumb idea. Letting people keep their money doesn't help the deficit at all. It actually makes the deficit and inflation worse unless you cut spending by the same amount, and that isn't happening.

Lol. If u did this, your fat/bloated military spending would drop more than everything else combined. I'd love that, actually.

Yes; it affects everything, but that is not news because everything else affects everything too. Everything is related. You must have gotten this from Fox News because not one reputable economist will say that Biden's limiting of U.S. oil production is the #1 reason for inflation, as opposed the ballooned money supply due to skyrocketing deficits. Take a look at the M2 money supply chart during the COVID era. That oil production/Biden theory is a completely whack job theory and demonstrates that you have a very limited understanding of economics. Oil is a global commodity and the U.S. has a limited impact on the price, even with our increased share of overall production. Given the spike in production under Biden, nobody can logically conclude that it would be that much higher under Fat Donny.

Huh? Petroleum production in the U.S. is higher than ever: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m And you're saying that limited production is the reason for the high inflation? Wow.

Fed started raising interest rates a couple years ago. That obviously takes some time to start feeling those effects also, since inflation is still too high and that took several months before noticing anything. Which one works more quickly isn't really relevant because the bloated deficit spending is what got us here in the first place and why the money supply grew so much during that time. We're STILL doing it and it's working against what the fed is doing. You can raise taxes VERY quickly, if our politicians want to. You can also decrease spending on our fat & bloated military. Of course you ONLY want to address spending. Two problems with that. Others are NOT willing to cut spending but only willing to address taxes. And people like you usually refuse to address our fat/bloated military spending. You are a perfect example of why we can't get anywhere with out deficit. The ONLY compromise is to decrease taxes AND increase spending at the same time and that makes the solution worse. In reality, we MUST cut the deficit and realistically this means increasing taxes and decreasing spending at the same time. And not just on entitlements but also the bloated military. Powell generally refuses to comment on fiscal policies but even he admitted that the current fiscal policy is unsustainable.

You're showing a lot of ignorance. Both fiscal and monetary policy contribute greatly to inflation. If we narrowed the deficit enough, inflation would completely disappear without having to have high interest rates. The deficit is basically the printing of money. Our bloated deficit spending that started shorty after COVID is the #1 reason by far why we've had high inflation since then. And the deficit is still very high.

Some of the B.S. I see on here is exactly why we have politicians that make horrible long-term decisions. People actually want bigger deficits. Services such as a fat bloated military, weapons, and handouts to other countries but they don't want to pay for them. Then they complain about inflation. We're getting EXACTLY what we deserve with the high inflation. This is also why the dollar will eventually collapse.

I could see cutting spending AND increasing taxes. Realistically, that is probably the best way to do it (just a little of each) because otherwise there's going to be mob violence. Personally, I'd completely gut the military and that would reduce our overall budget by at least 10%, but I know that wouldn't be popular.

Huh? Lower taxes more so deficit and inflation go up even more? Great idea. You should definitely go into politics.

Next thing you know, Biden (or Fat Donny if/when he gets elected) and Congress will propose sending out another check to everybody to help make up for inflation. Short-term thinking, which completely backfires. I seriously wouldn't be surprised.

Maybe you don't understand that we've been underpaying for our services in general, and that has driven inflation in the first place. Long term, we'll have less inflation if we pay higher taxes. You gotta get out of the myopic mindset (which politiicans take advantage of) and think long-term.

That's subjective and may depend upon location, but I'd say it would include the majority of the population. A reasonable estimate would be everybody between the 15 to 20th & 80 to 85th percentiles of income. The majority of us should be paying higher taxes IMO.

It's very simple. Just raise taxes. Make the middle class pay more and the rich pay MUCH MORE (their fair share). Deficit spending is a huge source of inflation and how this mess started in the first place under Fat Donny. Writing checks to almost everybody. We didn't see the results until the very end of his term but it was inevitable. Biden just continued it and a huge part of this has always been our legislature. None of the Democrats want to talk about cutting spending and none of the Republicans want to talk about raising taxes. So, they compromise by increasing spending AND cutting taxes at the same time. Biden's plan to provide a tax break for mortgage interest will only INCREASE home prices AND INFLATION. If we significantly decreased the deficit through more taxes and/or less spending, we wouldn't have to increase interest rates at all. Nobody seems to be talking about this. It's amazing how dumb the average person is.

Israel will undoubtedly win the short-term war with Hamas. Nobody ever doubted that. However, their inhumane butchery is breeding far more hatred worldwide and will be their long-term demise.