Biden's inflation numbers are 'really horrible': Art Laffer
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- Опубліковано 15 тра 2024
- Economic panelists Rep. Jodey Arrington, R-Texas, and Art Laffer react to President Biden claiming inflation was at 9% when he took office on 'Kudlow.'
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I’m going on 83 and this is the worst president we ever had
Actually 150 presidential scholars said Trump was the worst president. Von Shitzenpants
Biden is the most accomplished and productive President since LBJ. But in truth it's just the same old story. Republican Presidents leave the country broken and Democrat Presidents fix it. I know people have short term memory loss but try to think back just a few years ago to the year 2020. More than a MILLION Americans died on Trump's watch. More Americans than in all the wars we have ever fought. The economy had cratered, the stock market crashed, and unemployment soared. Supply chains were broken and on top of the upside down tariffs Trump imposed on everything from Agriculture to Technology, Trump ignited the inflation we have all had to live with. The only reason inflation rates came in low for 2020 was because we were ready to fall into a depression. Biden had to inherit all that in addition to inheriting a 3.1 trillion dollar budget deficit from fiscal 2020 and another 2.8 trillion for fiscal year 2021 passed in 2020. Had it not been for the Fed putting the pedal to the metal we would have been in a greater depression than Bush left for Obama. Same old story Republicans leave the country broken and Democrats wind up fixing it. You could go back to Herbert Hoover it's always the same.
Somewhere Jimmy Carter is thanking you!
@@marshallheadchief8744Jimmy is thanking Joe
I'm 60 and in total agreement
16% of our children living in poverty, record number of citizens living paycheck to paycheck, record credit card debt, record number of citizens needing two jobs, record inflation
Wait I thought that was the sign of the booming economy. I can't believe how little people understand of basic Economics
@@wesjimez2941 It's only going to get worse
@@TonydaGM I agree. Remember these low paying part time retail jobs count as fully employed.
Bidenomics in action!
Biden said: Americans have the money to spend!😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
I don't have enough time for investment analysis because of my busy work. My portfolio has been managed by a fiduciary for seven years; they have adjusted to market conditions to help me navigate successfully and make wise decisions. Think about a comparable strategy.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Monica Shawn Marti is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
20% ???? Try 100%. Nearly ALL goods at the grocery store doubled.
YES....
Yup. My family grocery bill has doubled since 2019. Used to fill up the grocery cart for $200 in 2019. Now it’s $400+. My eyes have already rolled out of their sockets every time I hear news pundits use numbers like 9, 19, or 29% food inflation numbers…
naw, more like 70. where y shopping where u payin 300$?
or more!
The green fantasy deal is killing us.
The green new deal is great for China !
Democrats are to blame. And democrat voters.
11/5/2024!!!!! Vote s___ President Biden OUT!!!!!!
What I don’t understand is that they say under Biden it’s up some 20%. But I see so many things that are up 50% or more.
I keep track of the real numbers and it's been 3% inflation PER MONTH!
So it's actually about 120% during Biden's presidency.
What hasn't doubled in price?
We you have evil, greedy, selfish leader's that care nothing about the poor hardworking taxpayers. Big government wasteful spending and this invasion by illegal immigrants is totally destroying our lives.
We see much higher prices as compared to government statistics on inflation because government calculates inflation excluding things that most consumers buy daily like food and energy.
Don’t forget food product is getting smaller and smaller for same price
oh grasshopper - you have good vision
😅
I don't understand how people say inflation is 3-4-5%..... most things are double
Things people actually need doubled
Not only have many things doubled, but what you get has shrunk… so actually more than doubled. I too keep hearing ridiculous inflation numbers like 5% or 9% but my eyeballs can’t roll out of their sockets anymore…
They don't calculate inflation the way they used to. The two most inflationary commodities energy/fuel and groceries are not even counted in their numbers. It's absurd!
Start growing a inflation garden for food
Because the rate of inflation and what businesses charge are two different things. Lets say an ice coffee from dunkin doughnuts is $5 and inflation actually does come down, doesn’t mean they will lower the coffee price to match inflation
I guess we needed a Biden to show us how bad things can be and a Trump to show us the good.
I agree, but the destruction he is doing to this Country will take a longer time to turn around than just 4 years of Trump.
We know, Art. We live it every day. FJB!!!
Trump 2024
Trump Carlson 2024 would be like a political freight train.
Yes I would like that
@@Michael-vo4qx Im still looking at Vivek as the best option as VP and as President in 28
@@tobinmenard3714I thought I'd like to visit in the beginning. But there's something that I don't trust about him. I think it's the fact that he would not talk about now. He would only speak of the future. And you have to get through now to get to the future.
@@tobinmenard3714 He's not. Tucker will win millions more votes.
FJB
We want mandates on age limits in Congress and for the presidential seat.
the young, 60 and under, outnumber the over 60 age bracket, we still have a Problem...age is not the answer.
The voters are THE problem....my opinion. thanks.
And only 20% can be attorneys
All we need is for voters to use common sense instead of party loyalty.
I think we need mandated cognitive testing ! reported to the american people before debates
I don't even care about age limits, it's up to the voters. I'd rather see that effort get pushed for term limits.
I wish smart guys like Larry or Art would stop using the CPI to calculate inflation. CPI was intentionally created to UNDERSTATE inflation.
These guys have buku investments. They dont want to decrease consumer confidence so the numbers are nebulous when they speak of now. Few months later they adjust this periods numbers up/down.
@@jeffreymyers323so it goes back to my dad's old saying that figures don't lie but liars sure do figure?
Yes. The items that the government chose to include in the basket of goods are all low-inflation ones. Inflation has been much higher than the government admits.
Go kudlow ❤
Extremely informative FACTUAL economic analysis. Thank You!
Larry ur wrong on inflation.
Many prices have doubled. We have on other stuff at 40 - 60 % since Brandon started.
That's because the calculations for inflation do not include the prices of food and fuel.
The Cares Act, the Infrastructure Bill; the Inflation Reduction Bill; the Chips Act....hmmmmm
Have all done the opposite of what we were told they would do
Always like Larry's take. Thanks for sharing!
ALL According to Plan ! FJB
This all been planned since mid WW2 those years were when the statement" new world order was coined" also the 1913 central banking to the federal reserve connotations ( neither federal or a reserve)
Ok, incel😂
@@Jake-pf4kvyou must be a Democrat that's afraid to admit you're wrong for following biden. So sorry for you
What I don't understand is if the guy in the black suit said we're paying 20% more for essentials then why isn't the inflation rate 20%
Mike, they were talking about the cumulative inflation rate which is adding all years of annual inflation increases during the respective president's terms together. Trump's was 7.7 percent overall from Jan 2017 to Jan 2021.
Biden's is 19.9% from Jan 2021 to Q1-2024.
Trump !
Joes inflation numbers are horror show ⚰️⚰️⚰️🎟️
🚑🚑🚑🚑 call Joe for help! 🇺🇸🚑
Larry - it’s called “Gaslighting”
These guys always make it easy for us regular folks to understand.
Want people to Work tell employers to Stop being mean and Nasty to older workers
But will these cpi inflation numbers help the SSI beneficiaries??? No they will fudge the numbers out like every year
Every year they tell us of sky high inflation until .....zUNTIL third quarter they then compare day to day not month to month
Agree 100%
You can blame both parties party’s for that.
@@Willfully_Ignorant I am getting tired of calling them the parties who has a good time with this??? Not the Americans just the groups of tyrants who call themselves politicians
☝️🎉🎉🎊. Yeah. A party!!!!
What about the market valuation (~$51 trillion) compared to GDP ($26 to $27 trillion)? That ratio is well above baseline, suggesting a bubble.
Right now, all of Warren Buffet's money is in short term treasury bonds, and he's said he'd put it there even if the yield was as low as 1%.
He's not making much profit, but he isn't risking losing a bunch of money if the bubble pops rather than gently deflates. Short term bonds make him agile. He's poised to buy the dip on short notice once he identifies the likely survivors, and if a Wall Street disaster sends interest rates soaring, he can roll his bonds over within a couple months to cash in on those higher rates.
I'm not saying this is going to happen. I'm just saying Buffett appears to think it will.
Keep in mind the CPI was heavily doctored eg hedonic adjustments so as to under report the real inflation rate by 7 full percentage points per year since 1990
Trump in 2024 !!! Restore sanity in the USA !!!
in 3 years they added over 50% to the overall amount of usd that exists . inflation has barely started folks. All it is
Remember the late 70s early 80s these years took less time to call them " the great recession" we have had the common definition over 9 months but still not calling this recession
That figure is nothing when based on whole US economic assets.
What is the inflation rate using the 1970 formula? Gotta be way, way higher!
It seems everything in the supermarket is up at least 50 percent.
Patterson and Thompson will pay !!!!
Prices went up still going up. You are screwd! So prices still rising but at lower level. Success? Great job Joe! Public educated and don't need calculator know when your math sucks and bank statements say it all. Thats right Govt. Workers never run out real producers $$$
Thanks
Liberals are happy. As long as Biden says "green" alot, he has their vote.
And what they're not taking into account is that by taking fuel production away from us you're taking away the most green processes in the world.
Like any good analysis following a corrupt leader, he/she would say, “What do you want the number to be?”.
Right. Is his Trump tower apartment 10000 sq feet or 30000? Trump is king of lies. Von Shitzenpants
Kudlow’s economics show is the best!! Republicans MUST attain a large majority in the house & senate to get Trump’s agenda thru--to Save America. Let’s pray!
I agree, put your faith in God, not man.
And VOTE 😊
@melindanicholls7911 For Trump, yes I will!
@@thomastaylor6699 same for the 3rd time.
@@thomastaylor6699 same. For the 3rd time.
Valiant effort Neil thanks for calling him. KUDOS 👍🏼👍🏼
8:35 $3 TRILLION over 10 years.... so $300 billion a year.... how much have we sent to UDRAINE AGAIN????
STOP HANDING OUT OUR TAX DOLLARS TO THE WORLD
High taxes=No Freedom.
Hey look, someone is giving a TV interview. Let’s talk loudly next to them about something unimportant.
This Congress and those after, for many years, need to spend our money more carefully.
Remember, even while the inflation rate may be coming down...the product prices for the consumers are not.
Please stop paying high ask prices of every business in your consumer habits. Ban on fast food, ban on beef, chicken. Maybe a tax revolt based on the politician reckless spending of the tax receipts. Go into a recession, pull back.
And "in real terms" is all that ever matters
The public is stupid!
Need to get rid of government jobs ; defund beaurocracy ; move representitives to thier states
Biden's entire term has been a "laugher".
No it's making me cry
@@dianasims6819 Me too. That is why I put laugher in quotation marks .
@@kevinmadden1645 sorry I missed the sarcasm. This whole thing has me just fed up and makes me angry just thinking about it
@@dianasims6819 You are hardly the only one.
@@kevinmadden1645 I've gotten to the point where I'm almost afraid to leave a comment on here. Because I leave no doubt to where I stand. And I can't believe the people that think biden's doing a fantastic job.
I pay cash that Leeds to badges getting fired and sent to prison.
If inflation rate is over 10%, FED chairman should raise interest rate to 10%
11%
20% ??
WTF
these people clearly don’t get out enough! I’m seeing a lot of the things that I bought regularly up 50% or more!!
TOO MANY LEACHES IN WASHINGTON DC AND BANKING
Can we not agree, you start with a gov thats not working against its people.
🇺🇸 TRUMP 2024 🇺🇸
Afuera!
The Great Kudlow!!!!!! The Billion dolla Tweeter...
Biden shut down the KeyStone Pipeline
Whom represented San Francisco in the Senate?
Trump 2024🇺🇸❤️
When Joe said he inherited a 9 percent inflation eate.
I said. Thats a whopper!
Gee, you got paid how much to figure that out?
There's going to be some interesting 'behind the scenes' books that come out after the Biden administration has run its course.
Only thing biden has done for me my Gold and Silver have been a Great asset, FJB!
Inflation was 3.4% in April (year-over-year). Unemployment has been below 4% for years. Housing prices have to come down, so what. That will be good for buyers.
Ya know if poloticians would take their hands off of the SS fund we all pay over 12% to 17% of our income into we woild have ZERO SS viability issues. Do not let them keep calling it "entitlement" if it was that we wouldn't be paying those taxes
And those that still support him dont want to see it
Hare Krishna
Has anyone brought up XRP going to be the new currency in US?
My lead driver is a woman that has a wife 6 dogs and a cat.she believes the Biden is doing a great job...she says why is the president responsible for the cost of fuel...speedway,shell,kroger,etc buy their fuel from the people who produce it...
Art Laffer has the credit for 35 trillion in national debt
If Biden Raises Americans Taxes we are gonna have to Write Him and I.O.U. cuz we are all taxed out😂
There is no inflation. The problem is you can't afford stuff anymore. Get a job.
what could posibly be offensive to others that i cant share this????????????????????????????????????
Mommy... wasaaa😵
Bill, could just be your operating system. I can share it. Try rebooting.
This is why President gos church
The People: We are paying 50% more for almost everything!
Emperor Joe: Yeah, but when you're late paying your credit card I've saved you $35!
Supply side economics is a proven pathway to restore growth and prosperity and control inflation. God Bless the USA 🇺🇸
I know I lost wealth under this Pres.. things are really getting bad
The Democrats can be justly proud of the strong performance of the Nancy Pelosi Nifty Fifty ("NPNF") stock average.
Ticker> NANC
Hannity lost his clown tie everytime 👔🤡 LoL 🤣
So could somebody please explain to me why the few Democrats I know and the ones that I see on these comment sections don't understand this? They don't seem to understand that inflation is higher than ever and it is biden's fault.
You need a better class of friends.
But Joe and KJP said inflation is down, we have more money to spend. Yall can't be right 🤔
lol. Going into debt at a slower pace doesn’t mean you have more money to spend.
@@Willfully_Ignorant I know that's right, explain that to those goofballs. Not everybody gets money from multiple countries...
I am so sorry you are doing so poorly. The Biden economy has left you destitute by the sound of it. And yes. The public does see through it
The stock markets finished higher then ever before!
Problem being in this current economic climate most people can't afford to actually contribute funds to the market
People are putting money in the stock market to try and avoid inflation. It has nothing to do with good economic growth. It's also overstated to say it's the best it's ever been. Not true.
Why don’t you expand your inflation history back to 2000 or 1990? Everybody knows that FED and all other Western central banks had there interest rate around 0% or less throughout the years between 2010 and 2020! A decade of low inflation! Stop misleading your audience!
We need a payroll tax cut but we do not need anymore corporate write offs. Corporations passed on all of this inflation over the last 3 years and have been making almost record profits across the board ever quarter for the last 6 quarters. I watch the quarterly’s and I can assure you corporations are doing just fine without another corporate write off tax bill. I hate to say it but I agree with the democrats talking points on this one.
We need trump to win, let the market crash, And restart everything.
Ummmm no?
I haven’t heard Trump or any of his advisers talk about how he will correct the inflation problem.
Stop the foreign wars. Deport, deport, deport. Reduce taxes and regulations.
Drill baby drill ❤
You haven't been listening.
You must mean corporate price gouging is still on the rise ! the milking of the boomers
Hate speech! Calling you out!😢
@@laurelh1799no hate just fact
This is what you talk about when the stock market hits record highs
The stock market has nothing to do with inflation. THINK!!!!!!!!
@@erickanter if Trump was president when the Dow hit 40K Larry would be crowing about it for a week and a half.
@@erickanteryeah but it’s a good thing no?
@@erickantergreedy corporations jacking their prices and carrying out layoffs at the same time has everything to do with inflation.
Want me to jump cuz I got to much evidence huh that's what you get for lying I care what you say about me ik I'll have my day in court
BUT but BuT... MOMMY... court...waaaa😵
Ludlow you leftout that the dow jones hit 40 thousand a all time high
It's easier to crash harder from higher heights!!!
Art Laffer addressed that.
Did you even listen to the video?
@@laurelh1799 what? There was a video .to listen to??
Employment, wages, stock market at record levels but all these guys are interested in is the high cost of bananas etc.
Very astute my friend.
You're a fool....
America make great again Trump 2024.
Protect your Church from Evangelical heresy don't become a target because of them. 1 John 3, God reveals who they are.
Explain how trump spending 11 trillion in his last year was not responsible for inflation
The INTENTIONAL virus didn't help...
It was but that was due to the pandemic. Democrats wanted to extend the spending further.
Remember all 4 years the Republicans kept saying it was infrastructure year too but never did anything so you should take credit for that as well you can't not take care of your responsibilities by just passing the buck you do that enough
PANDEMIC SPENDING! Id*ot!😢
The dollar was devalued 58% under trump. You people are too gullible😂
You need to learn how to read charts my friend. I have plenty of complaints about the Republican Party but I don’t need to just flat out lie to justify my list.
scrambling so much to find some bad news about the economy.....bwahahahaha....