Truth. The other factor is corporate profits, which we’re up 25% to new highs in 2021. So it’s not really even inflation, per say as corporate profit-taking.
It really pisses me off, too. GDP growth: best in 50+ years. Unemployment: lowest in 50 years. Corporate profits: +25%. Housing market: overheated. The Biden administration paid down $1.2T in debt in the first 15 months. After Trump ballooned the deficit by almost $9T in 4 years.
Interest rates low but increasing (it’s painful to watch Republicans contort themselves with interest rates. When the Fed was going to increase them, they screamed bloody murder. Then when they said they were going to hold steady, Republicans panicked. Now that the Fed is definitely raising interest rates to fight inflation, they are complaining again, while still upset about inflation).
It’s ridiculous. I’ve said it before: By all measurements, Biden is the best Republican president since Eisenhower.