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the inflation of 2020-2024 (some by trump 45) is somehow the result of trump 47?
by tonymet 2y ago
the inflation of 2020-2024 (some by trump 45) is somehow the result of trump 47?
- WalterBright 2y agoThe 2020 inflation was the result of 2019 deficits. After that, the deficits were due to Biden.
- Jtsummers 2y ago> The 2020 inflation was the result of 2019 deficits. After that, the deficits were due to Biden. Double check your timeline, Biden did not become president until 2021 so you cannot lay the 2020 deficit on him. The single highest deficit year was Trump's FY 2020 with a deficit of $3.3 trillion. It came down the next year (FY 2021) which can either be credited to Biden or shared between Biden and Trump since it spans both their terms.
- WalterBright 2y agoFair enough. I was a year off.
- throw0101d 2y ago> The 2020 inflation was the result of 2019 deficits. There was no inflation in 2020, the year that COVID hit. Many places experienced a month or two of deflation due to shutdowns. Remember when oil price went negative? * https://www.cbc.ca/news/business/oil-negative-price-1.5538996 https://www.cbc.ca/news/business/oil-negative-price-1.553899... Inflation didn't start going up until 2021, and some of that was due to base effects: * https://www.investopedia.com/terms/b/base-effect.asp https://www.investopedia.com/terms/b/base-effect.asp * https://blog.ons.gov.uk/2021/05/19/beware-base-effects/ https://blog.ons.gov.uk/2021/05/19/beware-base-effects/
- deleted 2y ago[deleted]
- tonymet 2y agothe comment above was about policies yet to come leading to inflation that's already here.
- wing-_-nuts 2y ago>If you want to talk about what's going to cause inflation in the future? Providing this little snippet of context again in case you wish to improve your reading comprehension