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Topic Title: Jimmy Carter 2.0: Biden's bundle of crises look increasingly like 1970s
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Created On: 05/16/2021 05:46 AM
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 05/16/2021 05:46 AM
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Fish Killer

Posts: 51917
Joined Forum: 10/09/2005

Jimmy Carter 2.0: Biden's bundle of crises look increasingly like 1970s
During the Carter years, American consumers were forced to pay more for the price of basic goods
By Jon Street

Biden's America faces growing inflation
Kristin Tate, an analyst for the nonprofit Young Americans for Liberty, provides insight.

"Joe Biden is the new Jimmy Carter."

That's the comparison being made by Republican lawmakers and conservative commentators as the Biden administration confronted a series of familiar crises last week - specifically, gas shortages and rising consumer good prices.

Following the revelation that Colonial Pipeline - the largest gas distributor on the East Coast - videos and images surfaced of cars sitting bumper to bumper, waiting to fill up before gas stations ran out of fuel. The gas shortage had a domino effect, too. It even prompted a shortage of a fast-food favorite: Chick-fil-A sauce.

The gas shortage was just one crisis the Biden administration was forced to confront, though. Less than one week after a devastating jobs report, the U.S. Labor Department revealed that the prices of basic goods and services spiked 0.8% in April alone. That's the largest monthly increase the country has experienced in more than a decade.

These crisis prompted House Majority Leader Kevin McCarthy, R-Calif., to say that Biden is "well on his way to creating another Jimmy Carter economy."

Rep. Jim Jordan, R-Ohio, echoed that sentiment, declaring "Joe Biden is the new Jimmy Carter."

Biden "really is doing his best Jimmy Carter ain't he," Fox News contributor Joey Jones opined.

But is comparing Biden to President Jimmy Carter in the 1970s a fair comparison?

Here's a look at what life in America was like during the Carter administration.

In 1977, the year Carter took office, the average price of gas in the U.S. was $0.62. When Carter left office in 1981, the average price of gas had more than doubled to $1.31. By 1988, the last full year of the Ronald Reagan administration, the average price of gas had steadily declined to $0.90.

In a televised speech on Oct. 24, 1978, Carter noted that inflation had continually risen over the past decade by an average of 6.5%. In the years before Carter took office, the average rate of inflation had increased to 8%.

"Inflation has, therefore, been a serious problem for me ever since I became president. We've tried to control it, but we have not been successful," Carter admitted.

But Carter's efforts to control inflation failed. The year he took office, the U.S. inflation rate was 6.5%. The last full year of the Carter presidency, the inflation rate, like the price of gas during his administration, had more than doubled to 13.5%. The rate of inflation steadily decreased each year of the Reagan administration beginning in 1981. By 1988, the last full year of Reagan's presidency, the inflation rate had dropped to just 4.1%.

During the Carter years, American consumers were not only forced to pay more for the price of basic goods as well as gas, but also had to wait in lines to buy gas. Pictures from the late 1970s show cars lined up at gas stations. Those images are eerily reminiscent of the recent photographs showing Americans waiting to buy gas during the Biden administration more than 40 years later.

Inflation during the Biden administration, like during the Carter administration, is a top concern. White House press secretary Jen Psaki told reporters on Tuesday that the administration takes "the possibility of inflation quite seriously."

"Most economic analysts believe that it will have a temporary transitory impact," Psaki added.

In the first full year of President Donald Trump's presidency, the rate of inflation was 2.1%. It increased to 2.4% during Trump's second year in office. For the remainder of Trump's presidency, the rate of inflation in the U.S. declined each year, dropping to just 1.2% in 2020.

However, like during the Carter presidency, the first full year of the Biden administration is on track to see a 0.70% increase. Based on first quarter data, the Federal Reserve estimates the rate of inflation in 2021 so far to be 1.9%.

Experts are already beginning to sound the alarm.

Former Treasury Secretary Larry Summers warned of a "Vietnam inflation scenario."

"Policymakers at the Fed and in the [White House] need to recognize that the risk of a Vietnam inflation scenario is now greater than the deflation risks on which they were originally focused," Summers said, according to CNN. "Whatever was the case a few months ago, it should now be clear that overheating -- not excess slack -- is the dominant economic risk facing the US over the next year or two."

FOX Business anchor and former Trump economic adviser Larry Kudlow has also warned against rising inflation but noted he's not convinced of inflation "just yet."


Kudlow noted that the prices of goods always spike following a severe economic downturn, such as the one that occurred amid the COVID-19 pandemic.

"I don't see the dollar collapsing yet," Kudlow said on May 5. However, he added that those who believe the inflation threat is real are "probably going to be right."

"But I'm going to withhold judgment on it right now."

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 05/16/2021 05:53 AM
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Fish Killer

Posts: 51917
Joined Forum: 10/09/2005



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 05/16/2021 09:20 AM
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Greensleeves

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Qish looks like a bundle of shit for brains

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 05/16/2021 10:30 AM
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chopola

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Nice opinion on the article there greensleeve.
 05/16/2021 05:03 PM
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Fish Killer

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Looks like 1977 all over again!

FACT!

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 05/16/2021 07:05 PM
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Cole

Posts: 52525
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It will take a few months to dig out from under all of Trump's failure.

Man, did Trump super suck at being president. Absolutely terrible, probably the worst ever.

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So long and thanks for all the fish.
 05/16/2021 07:08 PM
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Fish Killer

Posts: 51917
Joined Forum: 10/09/2005

Originally posted by: Cole

It will take a few months to dig out from under all of Trump's failure.



Man, did Trump super suck at being president. Absolutely terrible, probably the worst ever.


Trump didn't create this...

FUCKING BIDEN DID!

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 05/17/2021 06:41 AM
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Greensleeves

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Carter could beat Qrump in a foot race

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 05/17/2021 07:25 AM
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Fish Killer

Posts: 51917
Joined Forum: 10/09/2005

Originally posted by: Greensleeves

Carter could beat Qrump in a foot race


Carter could beat you in a foot race

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 05/17/2021 09:17 AM
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Greensleeves

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$hit comeback dumb a$$. Your MAGA hat is on too tight fat boy



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 05/17/2021 10:13 AM
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all3

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Carter was actually a real Christian

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"I remember South Africa in the late 70's, sleeping on the beach at J-bay, smoking ganja with the blacks. On weekends we'd go to the pub in East London to drink beer and fight with the Afrikaners. They liked to fight, I liked to fight. It was a good time"
 05/17/2021 11:07 AM
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Fish Killer

Posts: 51917
Joined Forum: 10/09/2005

Originally posted by: all3

Carter was actually a real Christian


...real christians don't agree with killing babies.

Sorry your shit isn't even close to correct.

This is a problem as well:

"The 93-year-old former US president said on HuffPost Live: "I think Jesus would encourage any love affair if it was honest and sincere and was not damaging to anyone else and I don't see that gay marriage damages anyone else".

The Democratic former peanut farmer has described himself as a born-again Christian in the past and noted on the program that churches which do not approve of gay marriage should be required to perform wedding ceremonies for same-sex couples."

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Edited: 05/17/2021 at 11:12 AM by Fish Killer
 05/17/2021 07:24 PM
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Cole

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The idiot FK thinks Trump is just like Jesus. lol



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So long and thanks for all the fish.
 05/17/2021 08:43 PM
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Fish Killer

Posts: 51917
Joined Forum: 10/09/2005

Originally posted by: Cole

The idiot FK thinks Trump is just like Jesus. lol


No...but obviously YOU do.

Fool!

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 05/18/2021 05:28 AM
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Cole

Posts: 52525
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Originally posted by: Fish Killer

Originally posted by: Cole



The idiot FK thinks Trump is just like Jesus. lol




No...but obviously YOU do.



Fool!


Like Jesus? No, I and am versed enough in scripture to know that Trump is nothing like Jesus. Trump is hate, Jesus was love. Trump is smash, Jesus turned the other cheek. Jesus would give his last piece of bread, Trump would tell the unfortunate to get a job. Jesus would love and cherish the man with the withered arm, Trump mocked him. Jesus would say to worship his father, Trump says worship me.

No, Trump isn't Jesus. Trump is dirty and conceited and the antithesis of all things pure. He is everything Jesus said we should avoid.



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So long and thanks for all the fish.
 05/18/2021 05:54 AM
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Fish Killer

Posts: 51917
Joined Forum: 10/09/2005

Originally posted by: Cole

Originally posted by: Fish Killer

Originally posted by: Cole

The idiot FK thinks Trump is just like Jesus. lol


No...but obviously YOU do.

Fool!


Jesus would give his last piece of bread,

No, Jesus would have made more bread just like he did with the fishes and loaves of bread

Jesus would love and cherish the man with the withered arm,

No, Jesus healed the man with the withered 'hand'...ON THE SABBATH!.

Trump says worship me.

No...that never happened and no it would never happen. You always put your words in others mouths! Those are YOUR WORDS! Own them!



You think you know Jesus yet in fact you dont know shit!

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 05/18/2021 06:00 AM
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Greensleeves

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Qrump lovers denounce scripture with every donation to him.

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 05/18/2021 06:01 AM
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Cole

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You claim to know Him. I actually do.

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So long and thanks for all the fish.
 05/18/2021 06:04 AM
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Fish Killer

Posts: 51917
Joined Forum: 10/09/2005

Originally posted by: Cole

You claim to know Him. I actually do.


Homosexuals are an abomination...to Him.

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 05/18/2021 06:15 AM
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Cole

Posts: 52525
Joined Forum: 07/22/2003

Originally posted by: Fish Killer

Originally posted by: Cole



You claim to know Him. I actually do.




Homosexuals are an abomination...to Him.


Another lie. The scripture clearly states he loves everyone.

You don't even understand the basic tenants of the religion and you claim to be Christian.



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So long and thanks for all the fish.
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