Biden/Harris responsible for stagflation
- Thread starter ipatent
- Start date
Let's take a look where the supposed $2.1 Trillion in savings being pushed by the Trump advocates comes from. The original source is a study by two economists at the San Francisco Fed (link below).
The government handed out all sorts of money to households during the pandemic. The intent of this money was for the households to spend the money and stimulate the economy. Now the "free money' that was handed out has been spent --- which is the entire purpose of the program.
Somehow the Trump GOP is interpreting this as 2.1 Trillion of household savings has been wiped of the U.S. economy due to the Biden administration.
The Reality: This government money was supposed to be spent by the households; the program was successful. And the majority of households are doing fine and have plenty of savings as outlined in the Federal Reserve reports (above) I posted earlier.
Pandemic Savings Are Gone: What’s Next for U.S. Consumers?
https://www.frbsf.org/research-and-...savings-are-gone-whats-next-for-us-consumers/
Median savings per household is only about $8000, and a good portion of the population lives paycheck to paycheck.
because many of them spend too much money for crap they actually do not really need.
end of the story.
Of course the median savings per household has gone UP.
So go look into the Federal Reserve document... and tell us what portion of the country lives paycheck-to-paycheck. And BTW is this percentage greater/lower than the Trump, Obama, Bush, etc. presidencies.
Last edited:
Its staggering what some of my relatives buy. They have a thing for absolutely everything from Amazon.
In the family WhatsApp group one was complaining the other day that she had to buy a whole new set of pots* because some of the handles don't quite work for her new double dishwasher. This replacing the five month old double dishwasher she thinks is slightly too noisy.
*at a cost of $799