Also Biden/Kamala inherited a 1.4% rate of inflation in January 2021.
Feel free to fact check.
Originally Posted by Green_Mountain
Christ on a cracker- What was going on in Jan 2021- oh yeah we were in a pandemic- and just about to emerge back into "civilization". Nobody was buying things but toilet paper and peleton bikes. But please- pull out inflation numbers and tout that during that time- gasoline was not in demand and only online shopping had returned. How many restaurants died due to the poor planning of the Trumptard administration; The funny cherry picking of pandemic costs such as gasoline- and energy independence is a ruse and just bullshit. IF the economy was running at a normal rate, we'd still be using way more energy than we produce, not a net exporter, but because FOX news spin machine told you we were, it's actually just a lie. It's like saying a patient in the hospital in the ICU- is experiencing a higher level of care than they would normally. YEAH. Cause they are in a critical situation- same as the country was and in recovery.
Do you know why the Biden administration fueled more money into the economy?
During the housing crisis of 2008, and banking crisis- it was determined that it's better to error in the favor of more cash in pockets than less, as there is a precarious balance between success and failure due to not having money in the economy to keep the rest of the country from falling into recession. Same thing with the cash for clunkers.
So when you tell me that they inherited "something good"., it's literally the country was handed a bag of garbage and shit- and sickness and a virus that "might" kill you, and was able to navigate through all that. They had to unwind a good bit of any over spend, but it kept the country from falling into a recession and ended up with a country who's banking system survived unlike 2008, and that the stock market went from a Jan 2021 DJIA of 29,982k, to a Jan 2025 of 44,025. up over 57%
matter of fact- the percentage of increases in the DJIA for the past administrations.
- GOP. Bush -20% DJIA performance. Inflation avg. 3.02
- Dem. Obama-214% DJIA performance. Inflation avg. 1.20
- GOP. Trump-51% DJIA performance. Inflation avg. 1.87
- Dem. Biden-57% DJIA performance. Inflation avg. 4.92
While Obama certainly has the highest percentage- he was there for 8 yrs. Still - he inherited a total shit show. So did Joe, yet those percentages of recovery are much better than the predecessors.
An obvious review of the numbers would indicate that Dems do a better job at not only increasing stock performance, but also handling crises such as pandemics or banks/ Savings Loans, and the auto industry.....Imagine if the GOP would just stop gaslighting Americans- they might stand on their own records of accomplishments.
I mean saying Gas was under X dollars and saying it was and accomplishment during a pandemic- is like saying I stopped drinking - (while I was in rehab or jail.) You don't get credit for the low numbers if you're contributing to them.
That said- Biden could have done better at keeping inflation at bay, and did so by the end of his administration. Probably- but he did so w/o significant recessions or overt giant bumps in job losses, layoffs, or the like.
UNLIKE Donnie Tariff - who created intentionally the largest stock-sell off @ 12% decline- since the dot com bubbles or the housing crisis in 2008. AND did it intentionally!!!
It's absurd and pure madness to think that this could have easily been avoided by simply having congress manage the tariffs as per their mandate- instead of giving over power to Trump. What waits in store for the POTUS who inherits this next 3.5 yrs of poor asinine functionality and literal distress.
The economic and social damage being done will not be easily fixed. Should another R be in power, it's going to be the beginning of a long dark road.