1:125,000,000,000.
Someone told me that President Trump is fully to blame for the high inflation in 2022-2023 due to his three stimulus checks, and he's only approving tax breaks for working families to get people to like him.
This dingbat has no idea that President Trump approved two stimulus checks up to $1,200 and $600 per adult (plus up to $500 and $600 per qualifying dependent); meanwhile, President Biden approved one stimulus check up to $1,400 (plus up to $1400 per qualifying dependent), and up to $3,600 via the Child Tax Credit. They are literally blaming President Trump for the $6,400 checks (assuming each parent has one qualifying dependent) that President Biden approved.
Stimulus checks weren't the "whole story." Global factors like supply chain issues that reduced production by as much as 50 percent, the 2022 war in Ukraine that disrupted oil supplies worldwide, and President Biden's various oil bans in the United States are the main reasons why inflation skyrocketed in 2022. This high inflation was worth the temporary trouble. These checks:[1]
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Prevented a much deeper poverty spike.
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Stabilized household finances and prevented evictions/delinquencies.
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Supported consumer spending and faster recovery.
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Reduced food insecurity and financial hardship.
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Provided long-term benefits for children.
Children in households that received the expanded Child Tax Credit/stimulus payments in 2021 showed:[1]
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Better school attendance.
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Higher math and reading scores two years later (2023–7 percentile gain, Chetty et al., 2024).
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Lower behavioral problems.
This is the first person in history who opposed the well-being of children who are not in their household. This comes as no surprise in light of this person's repeated and material violations of major administrative rules and applicable laws, that triggered a large-scale investigation and mandatory retraining for their entire branch, that endured months of unnecessary tension and workload resulting from one individual’s persistent incompetence.
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