No. of Recommendations: 2
But as albaby correctly points out, the narrative out there is that inflation is Biden's
fault, in the voters minds.
And it is sooooo easy to find facts that show trump had a large hand in the inflation spike,
yet for a large # of people he skates away from that responsibility untouched.
Truly amazing, in a dystopian way, lol.
It's not that amazing, though. The inflation spike happened while Biden was in office. Most people will attribute things as the responsibility of the person sitting in the Oval Office when they happen, regardless of whether the seeds were sown for the events long ago (or by other people).
But it's also due to other factors. Biden was publicly warned by a number of economists - including Democratic economists - that the American Rescue Plan was too big, and would lead to inflation. Biden didn't want to repeat the error of the Obama-era rescue plan (which was too small), so he erred on the side of big. That $1.9 trillion of spending was soon followed by the Infrastructure package ($1.2 trillion) and the rebranded Build Back Better ($0.9 trillion). Again, Biden wanted to avoid the mistakes of the ARREA, and wanted to fulfill promises to increase spending on infrastructure and fighting climate - but that meant that there were a bunch of non-crazy economists that were saying very publicly it was too big. And that was after Manchin took a buzzsaw to the original proposals (remember the $6 trillion BBB proposal? Or the $2.5 trillion BBB that was the compromise version).
So while the inflation spike isn't entirely Biden's fault (after all, it was a global phenomenon), certainly some part of it is. And his Administration did themselves no favors by being largely dismissive of concerns about inflation, both before the fact and after prices started rising. Rebranding the BBB as the IRA didn't help.
