Inflation reduction act will pass.

@wallstreetcappers

 If only there was a thread that brought up the inflation discussion that was based in reality and not in a non partisan way.....  

https://www.covers.com/forum/politics-87/18-inflation---the-real-rate-103834536

@wallstreetcappers

  I'm guilty as charged. I've no excuse other than I'm just trying to fit in here. What's good for the goose is good for the gander, yes?

 Seriously, as KC mentions above, where are there any threads here where any real discussion is going on? We've had some good correspondence at times, but the bulk of this forum is Trump-bashing/cheerleading for Biden. There should be some opposing views. Nobody is going to "agree" all the time.

 Here's an idea........get rid of all the old "bash" threads that keep getting pushed & let's start over. It will make it easier for you to nip all the new hate threads in the bud. I'd honestly love to see this country get back on track for its citizens, & these threads just continue to divide us. We shouldn't be fighting each other.

@wallstreetcappers

There he is. I thought someone hacked your account from the posts earlier about the sickening feeling from all those BILLIONS going to fight wars that should never had started. We agreed on something and glad we can find common ground on something political.

Good to see you Walls and glad you are OK.

@kcblitzkrieg

 Correct so all that is left are the rules/guidelines and keeping both groups from attacking each other. Going back 15 years it was so brutal that it carried over into the mains so because both sides are completely immature and unable to control their stupid zero egos we are forced to treat them like children. There are small pieces of good debate but it is rare. I do not consider debate to be told that one is wrong and that all the scholars in the world would say so that is not debate and discussion. Most people cannot listen and exist with differing opinions so it turns personal and ugly. I guess what little we do have is decent but the number of members who can discuss with respect and being open is less than five.

@THEMUGG

 At least you take responsibility and ownership which is also extremely rare in this sub-forum.

Less than 5...wonder who those 5 may be that are held in such high regard

And what is lost on most is that this is a gambling forum first not a political site....that's a fact...so when accusations are made or snide remarks are mentioned it should be taken on the premise on how the site was founded...

I know what you are trying to do here...and thought is good but you won't get there in this platform...there are some highly intelligent people here but what's the use in constantly putting forth effort and posts only to not be discussed or ignored...it becomes a waste so most look at it from an entertainment factor not a seriousness factor...if you can't correct that then you get what you get and that's all you'll get on a gambling forum...

I could be more engaging but what's the point...it's lost on most because some on this site want to lover their candidate and hate the other which is asinine and counterproductive...when you vote strictly party line and are blind to what you are seeing and hearing then you are problem for society not just this site...most in here are sheep and only follow their party line even though they know their candidate is a buffoon.....why are you voting for a buffoon is what you should be asking...why vote if you do not truly like the candidate??? It is because it is was embedded in most to follow instead of lead...that's what you see in here...

This is all entertainment as it was meant to be, but you wish it to be something that it could never be in its current state or how it was developed....so, come here for the value of entertainment and be entertained...if you are here for some other reason then you may have logged into the wrong site and go find yourself a political forum elsewhere away from the degenerate gamblers...

Pretty simply.

Is inflation going down? - No

Is inflation going up?- Yes.

Is the inflation REDUCTION act working? - No

@wallstreetcappers

 You are very quick to call out any threads bashing Biden, but yet when you actually look at the top threads and the last few comments, almost every thread is bashing Trump and you are nowhere to be found. Looking at the top 12 threads that are active today, excluding this one, and all but maybe 2-3 are bashing trump with vulgar descriptions, one word reply that give 0 context, or copy past news articles that are plagiarism. I check in often, and usually all the newest posts are what I just described and you let it fly. But when the "other side" posts something even remotely similar, you chime in. Be moderate. You moderate one side.

moderator-

1. One that moderates, as.
2. One that arbitrates or mediates.
3. One who presides over a meeting, forum, or debate.
<

Almost 2 years later and....you're right

@BigGame90

 Post 82-

Why did that not work? You did not comment on my stuff about inflation from earlier but instead of taking another cheap shot at Biden why are you not asking or discussing why that did not work?

I know why it didnt....

Inflation reduction act is less about inflation but more about combating climate change, creating jobs, improving energy grid and reducing healthcare costs.  It has already created hundreds of thousands of new jobs and launched hundreds of clean energy projects.  In 2025, 19 million people on medicare are expected to save average of $400 annually on drugs.   Forecast of 1.3 million new jobs over the next decade.   Reduced government spending on medicare drugs by $240 billion.  Households saving up to $278 billion on electricity bills.  US economy benefits in the long term.

Justin Haskins;

According to the White House, 15 million jobs have been created since Biden took office. However, most of those jobs were recovered after the COVID-19-related lockdowns ended. They were not newly created jobs. 

According to the U.S. Bureau of Labor Statistics (BLS), the current employment level is about 3 million jobs higher than it was in January 2020, just before the COVID-19 pandemic began.

By contrast, the economy added 6.33 million jobs in Trump’s first three years in office, more than double Biden’s figure. 

Compared to pre-COVID-19 levels, a little over 2 million full-time jobs have been added under Biden, along with more than 1.18 million part-time jobs.

As I already noted, in Trump’s first three years, total employment rose by 6.33 million, but unlike with Biden, nearly all of those jobs were full-time positions. Part-time employment increased by just 17,000 jobs from January 2017 to January 2020, less than 1% of the total number of added jobs.

So Biden and his media mob keep saying how great things are yet very few are happy. Just the fact they called it "Inflation Reduction" is a joke. 

I don't scroll through here all day every day. When I do come back, I usually see the same posters posting non sense and I just leave. I get tired to reading through most of the non sense in here which is why I likely did not reply to you. When I see garbage, I leave. 

....unless one is a MAGA, since anything positive for America achieved by Democrats MUST BE CONDEMNED automatically, just because!!

There it is. Sell the "inflation REDUCTION", than claim it's not really about "inflation reduction". More lies from the left leaning bot.  

Expected does not mean it's going to happen. The high speed train in CA was expected to cost 33 billion before the project started. In 2023 the "expected" total cost to finish was over 130 billion. Expected and forecasts doesn't mean anything when they continually get it wrong. They over promise and under deliver with expectations and forecasts because if they actually told the truth, people wouldn't buy it. "Reduced government spending" is a joke in todays world. Household savings on electricity is also a joke. 

Stop posting nonsense propaganda and please ban bots. 

Misleading to not acknowledge job losses under Trump while shifting all the employment damage from pandemic to Biden.  Politifact rates false Trump's claim of more jobs creation during first 30 months.  Bureau of labor statistics reports 5.2 million new jobs under Trump and 13.2 million new jobs under Biden.  Now total employment is higher than before the pandemic. 

According to International labor organization, there has been little change in US percentage of part time workers in total employment.  Under Trump, 26% to 29% part time from 2017 to 2020.  Under Biden, 26% part time from 2021 to 2023.  Fact is Trump has the worst jobs record in modern US history.  He is trying to cover up his disastrous record.

A spending package to slow inflation is the exact opposite of how you slow inflation. I think it was just a clever catch phrase at the time but the mechanics of spending to slow inflation make no sense.

To slow inflation you have two paths, one is to slow consumption and that is the demand side approach. US consumers are gluttonous pigs who cannot slow consumption, we are crack addicts on purchasing tech and new new new so I dont know how outside a massive recession, not a little one a massive one, that consumption will slow.

The second is the supply side and that is to make the cost of supply lower and corps partially pass that off to the consumer. Usually that can be done by innovation and efficiencies thats the best way but it is also done via government handouts as subsidies. So anyone wonder how milk is cheaper today than decades ago? That is farmer subsidies so if you want lower consumer prices then you tax the consumer and take those taxes to bribe farmers to purchase massive equipment so they can cut costs and some farm equip company like Deer can make big bucks profits. In the end that cheap milk costs more via taxes than if you paid market rate which is probably 5x supermarket prices.

So since consumers cant stop their addiction the real solution to lower inflation is lower rates so corps can expand supply and subsidies or tech subsides for innovation. Only so many options to solve a supply/demand equation.

After passing congress in 2022, Inflation reduction act is being implemented over next 10 years.  It subsidizes cost of energy saving home improvements.  It expands access to healthcare insurance, extends Obamacare tax credits, caps Medicare cost of insulin at $35 per month, provides free vaccines for seniors and $2000 cap on out of pocket drug costs starting in 2025.

@thirdperson

 See that is rhetoric all of what you listed and more is not inflation reducing it is government subsidy. Energy savings is a subsidy as you state, tax credits is a subsidy, caps on insulin is a subsidy as Medicare either covers the difference or corps pass on to non-medicare citizens. Free vacs is a subsidy to the drug manufacture. All of this does not reduce inflation. It is like people are so stupid they believe a bill tag and think it has impacts on inflation. Reducing costs and subsidies take from one group and give to another, the result is actually negative it is an inflation CREATOR. If we use debt to fund this scheme that interest is paid by the taxpayer directly and indirectly and that means less money in the economy to handle rising costs. If we give tax freebies for energy saving AC (I see that advertised down here) then the taxpayer funds that and that is not reducing inflation either.

Maybe having uneducated voters helps politicians get elected, I dont get how this reduces anything at all in any sense of the phrase.

Quote Originally Posted by thirdperson:

Quote Originally Posted by THEMUGG: My healthcare costs have skyrocketed over the past three years & my electricity costs have gone up.

 

After passing congress in 2022, Inflation Reduction Act

  •  is being implemented over next 10 years.  It subsidizes cost of energy saving home improvements.  I

  •  expands access to healthcare insurance,

  •  extends Obamacare tax credits,

  •  caps Medicare cost of vital insulin at $35 per month,

  •  provides free vaccines for senior, and

  •  $2000 cap on out of pocket drug costs starting in 2025.

@thirdperson

 Baahh! FAKE NEWS! Those stats are for tree-hugging losers!!! 

Beer & smokes costs me more!! and the cost of a pack of hotdogs went up a  8 cents!!  What's the so-called #14th ranked BEST President of all time going to do about that, huh?!?!   

Because of Joe Biden and the completely evil democrats all the other countries in the world have very little inflation compared to Bidenomics!!!   

Keep the ball rolling . 

@thirdperson

 Word! 

BTW, what is our UNemployment rate now?!