Kamala Harris is trying to avoid the No. 1 issue: inflation

[Valletta]

But presidential candidate Harris enters the race with a significant challenge. As vice president, she cast a critical vote to break a tie in the Senate and allow the $1.9 trillion American Rescue Plan to move forward toward a final vote. Had it not been for her vote, the bill might never have gotten to Biden’s desk for his signature.
Biden and Harris still tout this legislation as one of the centerpieces of their record. But the public isn’t buying it for good reason. Every time people buy gas or groceries, they are reminded that it was this ill-conceived legislation that jump-started runaway inflation.
One month after the ARP was signed into law, inflation increased to 4.2 percent. This came after the U.S. economy had had inflation under 3 percent for 111 consecutive months.

Kamala Harris is trying to avoid the No. 1 issue: inflation - Roll Call

It’s not easy to convince voters that their top issue is not really the most important — and that’s the challenge for Kamala Harris, Winston writes.

rollcall.com

Groceries and rent--think of Kamala. And realize how extremely radical she is and that Joe was just the start.

 

[Vambram]

A Kamala Harris presidency will continue the same policies and agendas of the Democratic Party which have been in effect since the inauguration of Joe Biden. The Democratic Party is a political machine and I have no doubts that Harris will say and do whatever that political machine tells her to do and say. However, that machine cannot hide the facts about the high amounts of cumulative inflation over the last 3 1/2 years.

 

[Hammster]

I wonder if she’s gotten better since this happened.

 

[JustOneWay]

The inflation rate dropped from 9.1% in June2022 to 3% July2024, and this is the #1 issue? whatever....

I thought the #1 issue was illegal immigration? I guess the rightists are finally attacking on the economy because the personal attacks were not effective.

 

[probinson]

The inflation rate dropped from 9.1% in June2022 to 3% July2024,

Why did you start your comparison in June 2022, 18 months after Biden took office? What was the inflation rate in January 2021 when Biden took office?

Here's a graph showing the last 5 years.

Here's graph showing the last 10 years.

(Source)

So, um, congratulations (?) to the Biden Administration for (almost) getting the inflation rate back down to where it was when you took office.

 

[Bradskii]

But presidential candidate Harris enters the race with a significant challenge.

From here: June 2024 CPI Report: Inflation Is Moderating, Inching Us Closer To a Rate Cut | J.P. Morgan

'The slowing in consumer prices was driven by a sharp decline in gas prices and easing shelter price pressures (inflation coming from the housing market). Gasoline prices fell 3.8% MoM in June, following a 3.6% decline in May. This contributed to the 2% MoM decline in the energy index for the second consecutive month.2 We expect the drop in gasoline prices to offset some consumer worries over high inflation.

The food index rose by 0.2% MoM for the second consecutive month, as food away from home prices rose 0.4% MoM and food at home prices rose 0.1% MoM.3 The continued rise in food prices was offset by the declines in energy and transportation prices.

A continued moderation in inflation should provide some relief to consumers. As long as wages continue to rise at a faster pace than inflation, consumer spending will likely still provide a positive contribution to economic growth in the second quarter.'

Now this is just me. But I'll wager that these figures and the direction that inflation is heading, the drops in prices and the overall strength of the US economy is something that doesn't please you. You'd prefer them to be a lot worse. And if the GOP was in power then you'd be singing the praises of the current situation.

It must be tough to worry about the cost of living yet be depressed when it improves.

 

[Bradskii]

Here's graph showing the last 10 years.

So, um, congratulations (?) to the Biden Administration for (almost) getting the inflation rate back down to where it was when you took office.

Was that a graph of covid deaths? Ah, no. It's inflation. Sorry, I was confused as the two graphs kinda match. So yeah. Congrats to all involved in getting it down again.

To what extent did Covid cause inflation? - Economics Help

There is no doubt that as the economy emerged from Covid lockdowns in 2021, the world experienced a surge in inflation, not seen since the 1970s. There are many supply and demand factors, which have caused this unexpectedly high inflation. The first factor is that Covid lockdowns, especially in...

www.economicshelp.org

 

[probinson]

Now this is just me. But I'll wager that these figures and the direction that inflation is heading, the drops in prices and the overall strength of the US economy is something that doesn't please you. You'd prefer them to be a lot worse. And if the GOP was in power then you'd be singing the praises of the current situation.

It must be tough to worry about the cost of living yet be depressed when it improves.

Strength of the US economy? So strong it caused a crash of the markets?

​

Investors were rattled by a trickle of disappointing economic data last week, including a weaker-than-expected jobs report. The Dow Jones Industrial Average shed nearly 1,034 points, or 2.6 percent, and closed at 38,703.27. The broader S&P 500 lost 3.0 percent, while the tech-heavy Nasdaq composite index lost 3.4 percent as wariness around artificial intelligence led investors to turn away from big names such as Nvidia and Microsoft.​

​

https://www.washingtonpost.com/business/2024/08/05/japan-stock-market-crash/

​

 

[probinson]

Was that a graph of covid deaths? Ah, no. It's inflation. Sorry, I was confused as the two graphs kinda match. So yeah. Congrats to all involved in getting it down again.

To what extent did Covid cause inflation? - Economics Help

There is no doubt that as the economy emerged from Covid lockdowns in 2021, the world experienced a surge in inflation, not seen since the 1970s. There are many supply and demand factors, which have caused this unexpectedly high inflation. The first factor is that Covid lockdowns, especially in...

www.economicshelp.org

I think what you mean to say is that the response to COVID contributed immensely to inflation. Turns out, eliminating jobs and sending everyone multiple checks isn't a long-term strategy for economic success. The Trump administration started the COVID response disaster but the Biden Administration took it to new levels.

 

[Hammster]

Strength of the US economy? So strong it caused a crash of the markets?

​

Investors were rattled by a trickle of disappointing economic data last week, including a weaker-than-expected jobs report. The Dow Jones Industrial Average shed nearly 1,034 points, or 2.6 percent, and closed at 38,703.27. The broader S&P 500 lost 3.0 percent, while the tech-heavy Nasdaq composite index lost 3.4 percent as wariness around artificial intelligence led investors to turn away from big names such as Nvidia and Microsoft.​

​

https://www.washingtonpost.com/business/2024/08/05/japan-stock-market-crash/

​

The stock market is being unburdened by what has been.

 

[Valletta]

From here: June 2024 CPI Report: Inflation Is Moderating, Inching Us Closer To a Rate Cut | J.P. Morgan

'The slowing in consumer prices was driven by a sharp decline in gas prices and easing shelter price pressures (inflation coming from the housing market). Gasoline prices fell 3.8% MoM in June, following a 3.6% decline in May. This contributed to the 2% MoM decline in the energy index for the second consecutive month.2 We expect the drop in gasoline prices to offset some consumer worries over high inflation.

The food index rose by 0.2% MoM for the second consecutive month, as food away from home prices rose 0.4% MoM and food at home prices rose 0.1% MoM.3 The continued rise in food prices was offset by the declines in energy and transportation prices.

A continued moderation in inflation should provide some relief to consumers. As long as wages continue to rise at a faster pace than inflation, consumer spending will likely still provide a positive contribution to economic growth in the second quarter.'

Now this is just me. But I'll wager that these figures and the direction that inflation is heading, the drops in prices and the overall strength of the US economy is something that doesn't please you. You'd prefer them to be a lot worse. And if the GOP was in power then you'd be singing the praises of the current situation.

It must be tough to worry about the cost of living yet be depressed when it improves.

The damage has been done. Creating a disaster, whether it be with the border or the economy, and waiting until it hurts enough people that you have to deal with it else you will incur political damage, is not a good strategy for the welfare of our nation

 

[Bradskii]

I think what you mean to say is that the response to COVID contributed immensely to inflation. Turns out, eliminating jobs and sending everyone multiple checks isn't a long-term strategy for economic success. The Trump administration started the COVID response disaster but the Biden Administration took it to new levels.

You guys did pretty much the same as most other countries. Drastic action to prevent a complete economic collapse. If the US had done something different and you'd had a worse outcome then you'd have a point. It didn't, so you don't.

 

[Bradskii]

The damage has been done. Creating a disaster, whether it be with the border or the economy, and waiting until it hurts enough people that you have to deal with it else you will incur political damage, is not a good strategy for the welfare of our nation

Maybe you can point to any economy that didn't suffer after a global pandemic that killed millions? That you've come out of it so well must be a great disappointment to you.

 

[Vambram]

The inflation rate dropped from 9.1% in June2022 to 3% July2024, and this is the #1 issue? whatever....

I thought the #1 issue was illegal immigration? I guess the rightists are finally attacking on the economy because the personal attacks were not effective.

It is the cumulative inflation over the last 3 1/2 years which has had a dramatically negative effect upon most Americans. Likewise, the millions and millions of illegal immigrants flowing across our borders is unsustainable because no country has infinite resources.

 

[AlexB23]

Why did you start your comparison in June 2022, 18 months after Biden took office? What was the inflation rate in January 2021 when Biden took office?

Here's a graph showing the last 5 years.

View attachment 352827

Here's graph showing the last 10 years.

View attachment 352828

(Source)

So, um, congratulations (?) to the Biden Administration for (almost) getting the inflation rate back down to where it was when you took office.

Can we get a graph of the past 25 years, to include the Bush and Obama admin? Inflation was pretty low during the Bush and Obama years. I miss those years.

Inflation from 2000 to 2022, yes Wolfram|Alpha sadly does not have 2024 numbers, but I like the graphs from that website a lot.

Source: US inflation rate 2000 to 2024 - Wolfram|Alpha

 

[Oompa Loompa]

But presidential candidate Harris enters the race with a significant challenge. As vice president, she cast a critical vote to break a tie in the Senate and allow the $1.9 trillion American Rescue Plan to move forward toward a final vote. Had it not been for her vote, the bill might never have gotten to Biden’s desk for his signature.
Biden and Harris still tout this legislation as one of the centerpieces of their record. But the public isn’t buying it for good reason. Every time people buy gas or groceries, they are reminded that it was this ill-conceived legislation that jump-started runaway inflation.
One month after the ARP was signed into law, inflation increased to 4.2 percent. This came after the U.S. economy had had inflation under 3 percent for 111 consecutive months.

Kamala Harris is trying to avoid the No. 1 issue: inflation - Roll Call

It’s not easy to convince voters that their top issue is not really the most important — and that’s the challenge for Kamala Harris, Winston writes.

rollcall.com

Groceries and rent--think of Kamala. And realize how extremely radical she is and that Joe was just the start.

The handlers who actually control Kamala Harris are avoiding every issue to include inflation. Which is why she has been forbidden from answering any questions from the media.

 

[Bradskii]

The handlers who actually control Kamala Harris are avoiding every issue to include inflation. Which is why she has been forbidden from answering any questions from the media.

With covid and then Ukraine, inflation went up world wide. Our government down here managed to get it under control. So did yours. You must be quite pleased about that...

 

[Valletta]

With covid and then Ukraine, inflation went up world wide. Our government down here managed to get it under control. So did yours. You must be quite pleased about that...

It's bad here, food prices outpaced wages.

 

[Bradskii]

It's bad here, food prices outpaced wages.

Well let's base the economic data on what you experience, eh? Let the fact that you think 'it's bad here' dictate government policy, shall we? Do you think that's a good idea?

 

[Valletta]

Well let's base the economic data on what you experience, eh? Let the fact that you think 'it's bad here' dictate government policy, shall we? Do you think that's a good idea?

We have a deceptive administration. Plenty of people know the reality of grocery and rent prices no matter how the establishment machine tries to spin it.