CBO Projects Inflation Will Continue into 2023

  

Category:  News & Politics

Via:  texan1211  •  one month ago  •  40 comments

By:   YahooNews

CBO Projects Inflation Will Continue into 2023
Concerns over inflation have come to a head prior to the 2022 midterms. A poll released on Monday found that 69 percent of respondents felt the state of the U.S. economy is "bad."

S E E D E D   C O N T E N T



Read full articleZachary Evans May 26, 2022, 9:32 AM·1 min read

Inflation will decrease slightly but likely continue into 2023, the Congressional Budget Office said in a report released on Wednesday on the outlook of the economy and federal budget for the next ten years.

The consumer price index will hit 4.7 percent in the fourth quarter of 2022 compared with the same period in 2021, the CBO projected. Inflation will continue to decrease to 2.7 percent by the fourth quarter of 2023. Inflation would thus remain higher than levels recorded prior to the Covid pandemic.

"In CBO's projections, elevated inflation persists in 2022 because of the combination of strong demand and restrained supply in the markets for goods, services, and labor. In response, the Federal Reserve tightens monetary policy, and interest rates rise rapidly," CBO director Phillip L. Swagel said in a statement on the report.

The projection comes after the CPI hit 8.5 percent in March 2022 compared with the same month in 2021, the highest increase since 1982. The Federal Reserve announced in March that it would raise interest rates for the first time since December 2018 in order to rein in inflation.

Concerns over inflation have come to a head prior to the 2022 midterms. A CBS News poll released on Monday found that 69 percent of respondents felt the state of the U.S. economy is "bad."

The CBO report also projected that U.S. GDP will grow by 3.1 percent in the fourth quarter of 2022 compared with the same period the previous year, slower than the 5.5 percent pace recorded in the fourth quarter of 2021. GDP growth will likely slow to 2.2 percent in 2023.


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Texan1211
Professor Principal
1  seeder  Texan1211    one month ago

News to Democrats---inflation is "temporary" says Biden.

I guess 2-3 years is considered merely temporary by some folks.

This means Democrats won't be able to run on the economy.

That leaves them with the green agenda, abortion, and gun controls.

Doesn't sound like a winning agenda to run on when people's finances are hurting.

 
 
 
Ozzwald
Professor Quiet
1.1  Ozzwald  replied to  Texan1211 @1    one month ago
I guess 2-3 years is considered merely temporary by some folks.

Yes, that is temporary.  Can you provide a documented definition that says that if something lasts 2-3 years, it is considered permanent?

 
 
 
Texan1211
Professor Principal
1.1.1  seeder  Texan1211  replied to  Ozzwald @1.1    one month ago

Most of the people I know don't think a period of 2-3 YEARS is temporary.

Parse words elsewhere.

But you focus on ONE WORD while the gist of the statement escapes you.

 
 
 
Texan1211
Professor Principal
1.1.2  seeder  Texan1211  replied to  Ozzwald @1.1    one month ago
Yes, that is temporary.

Okay, let's pretend you get pulled over for a traffic violation, say a taillight is out. The officer discovers you have no insurance and no valid driver license. He takes you to jail.

They hold you for 2-3 years.

You would be cool because THAT is temporary, right?
LMMFAO!

 
 
 
Ronin2
Professor Quiet
1.1.3  Ronin2  replied to  Ozzwald @1.1    one month ago

If inflation lasts for two or three years the Democrats can kiss the presidency goodbye. 

Brandon is only a temporary president now. He can still do damage to the US; but his time is over.

 
 
 
Texan1211
Professor Principal
1.1.4  seeder  Texan1211  replied to  Ronin2 @1.1.3    one month ago

Biden will be a lame duck soon enough.

Not a chance Dems hang on to the majority with the economy the way it is, high gas prices, and inflation at or near 40 year highs.

 
 
 
Ozzwald
Professor Quiet
1.1.5  Ozzwald  replied to  Texan1211 @1.1.1    one month ago
Most of the people I know don't think a period of 2-3 YEARS is temporary.

Avoiding the question again?  Provided a documented definition that states that 2-3 years constitutes permanence.

 
 
 
Ozzwald
Professor Quiet
1.1.6  Ozzwald  replied to  Texan1211 @1.1.2    one month ago
You would be cool because THAT is temporary, right?

Would that be cool?  No.

Is that temporary?  Yes.

 
 
 
Texan1211
Professor Principal
1.1.7  seeder  Texan1211  replied to  Ozzwald @1.1.5    one month ago
Avoiding the question again? 

Inanity deserves no answers.

 
 
 
Ozzwald
Professor Quiet
1.1.8  Ozzwald  replied to  Texan1211 @1.1.4    one month ago
Biden will be a lame duck soon enough.

Not if Trump is running against him.  Or DeathSantis.

 
 
 
Ozzwald
Professor Quiet
1.1.9  Ozzwald  replied to  Texan1211 @1.1.7    one month ago
Inanity deserves no answers.

jrSmiley_10_smiley_image.gifjrSmiley_10_smiley_image.gifjrSmiley_10_smiley_image.gif

 
 
 
Texan1211
Professor Principal
1.1.10  seeder  Texan1211  replied to  Ozzwald @1.1.6    one month ago

R-i-g-h-t.

/s

 
 
 
Texan1211
Professor Principal
1.1.11  seeder  Texan1211  replied to  Ozzwald @1.1.8    one month ago

You'll see soon enough.

 
 
 
Ozzwald
Professor Quiet
1.1.12  Ozzwald  replied to  Texan1211 @1.1.11    one month ago

You'll see soon enough.

See what?  That 2 years = permanent?

 
 
 
Texan1211
Professor Principal
1.1.13  seeder  Texan1211  replied to  Ozzwald @1.1.12    one month ago

please refrain from making inane replies to me.

 
 
 
Greg Jones
Professor Guide
1.1.14  Greg Jones  replied to  Ozzwald @1.1.5    one month ago

Your question is irrelevant...and stupid

 
 
 
Ozzwald
Professor Quiet
1.1.15  Ozzwald  replied to  Greg Jones @1.1.14    one month ago

Your question is irrelevant...and stupid

Greg, do you also believe that 2 years is the same as permanent?

 
 
 
Texan1211
Professor Principal
1.1.16  seeder  Texan1211  replied to  Greg Jones @1.1.14    one month ago
Your question is irrelevant...and stupid

No need to indulge the poster.

Arguing over what the majority already knows and can agree on is silly.

Simple fact is that Democrats will pay the price for the economy and inflation come November.

And whether "temporary" or "permanent", Biden takes the blame--like all other Presidents before him.  Which makes the midterms sweet for the GOP.

 
 
 
Texan1211
Professor Principal
1.1.17  seeder  Texan1211  replied to  Ozzwald @1.1.12    one month ago
See what? 

On second thought, you won't see it.

 
 
 
Ozzwald
Professor Quiet
1.1.18  Ozzwald  replied to  Texan1211 @1.1.16    one month ago
No need to indulge the poster.

Afraid of Greg's answer?

Arguing over what the majority already knows and can agree on is silly.

Now trying to tell him how he should answer and how he should think?

And whether "temporary" or "permanent", Biden takes the blame--like all other Presidents before him.

Did Trump take the blame for the crashing economy and skyrocketing unemployment at the end of his term?  I'll give you a clue.

donald-trump-responsibility.gif

 
 
 
Texan1211
Professor Principal
1.1.19  seeder  Texan1211  replied to  Ozzwald @1.1.18    one month ago
Afraid of Greg's answer?

Not at all. What in my post led you to ask such a question?

Now trying to tell him how he should answer and how he should think?

Clearly not. Stop projecting.

Did Trump take the blame for the crashing economy and skyrocketing unemployment at the end of his term?  I'll give you a clue.

Biden will be blamed like all Presidents are blamed for a poor economy and inflation. Pretending otherwise is rather foolhardy.

Why are you so obsessed with Trump?

Stop living in the past!

 
 
 
Ozzwald
Professor Quiet
1.1.20  Ozzwald  replied to  Texan1211 @1.1.19    one month ago
Why are you so obsessed with Trump?

I'm not, I just like pointing out right wingers hypocritical beliefs and Trump is useful for highlighting those.

 
 
 
Texan1211
Professor Principal
1.1.21  seeder  Texan1211  replied to  Ozzwald @1.1.20    one month ago

I challenge you to go 100 posts without dragging Trump into them.

 
 
 
Jeremy Retired in NC
PhD Guide
1.1.22  Jeremy Retired in NC  replied to  Ozzwald @1.1    one month ago
I guess 2-3 years is considered merely temporary by some folks.

Maybe if we were talking about a century.  Only an idiot would think 2 - 3 years is temporary.  

Can you provide a documented definition that says that if something lasts 2-3 years, it is considered permanent?

Given you are asking this question, you can provide documentation reflecting it isn't permanent?  Do I need a foil hat to see it?

 
 
 
Texan1211
Professor Principal
1.1.23  seeder  Texan1211  replied to  Jeremy Retired in NC @1.1.22    one month ago
Do I need a foil hat to see it?

No, just suspend your mind from all traces of logic and knowledge, and VOILA!

 
 
 
Jeremy Retired in NC
PhD Guide
1.1.24  Jeremy Retired in NC  replied to  Texan1211 @1.1.23    one month ago

I can't just turn off common sense, logic and critical thinking skills.  Will hitting myself in the head with a ball peen hammer get me to their level?

 
 
 
Texan1211
Professor Principal
1.1.25  seeder  Texan1211  replied to  Jeremy Retired in NC @1.1.24    one month ago
Will hitting myself in the head with a ball peen hammer get me to their level?

If you do it enough times to cause brain death, probably, but not guaranteed.

 
 
 
Jeremy Retired in NC
PhD Guide
1.1.26  Jeremy Retired in NC  replied to  Texan1211 @1.1.25    one month ago

I don't see this as being reversible.  I may pass.  I couldn't imagine living like that.

 
 
 
Texan1211
Professor Principal
1.1.27  seeder  Texan1211  replied to  Jeremy Retired in NC @1.1.26    one month ago
I don't see this as being reversible. 

I have never seen a case where it did reverse.

 
 
 
Jeremy Retired in NC
PhD Guide
1.1.28  Jeremy Retired in NC  replied to  Texan1211 @1.1.27    one month ago

On the plus side, I could be the Democrat nomination for President.  Nah, I'll pass.

 
 
 
Ozzwald
Professor Quiet
1.1.29  Ozzwald  replied to  Jeremy Retired in NC @1.1.22    one month ago
Given you are asking this question, you can provide documentation reflecting it isn't permanent? 

per·ma·nent
/ˈpərmənənt/

adjective
lasting or intended to last or remain unchanged indefinitely.

 
 
 
magicschoolbusdropout
Freshman Expert
2  magicschoolbusdropout    one month ago

Like Liberals keep telling us...... Phenomenal  !

 
 
 
Texan1211
Professor Principal
2.1  seeder  Texan1211  replied to  magicschoolbusdropout @2    one month ago

If this forum is any indication, most Democrats seemingly have forgotten Carville's line "It's the economy, stupid" and I am perfectly fine with that.

Even those who were spouting off about how great the economy is have gone strangely silent over the last two months.

I really don't see much hope of the economy turning around or inflation disappearing before the midterms, much to the Democrats detriment.

And them ignoring that reality will undo them.

SJW can only carry a party so far.

Thank God it won't be very far.

 
 
 
magicschoolbusdropout
Freshman Expert
2.1.1  magicschoolbusdropout  replied to  Texan1211 @2.1    one month ago
Thank God it won't be very far.

166 Days.

 
 
 
Tessylo
Professor Principal
2.1.2  Tessylo  replied to  magicschoolbusdropout @2.1.1    one month ago

[Deleted]

 
 
 
Texan1211
Professor Principal
2.1.3  seeder  Texan1211  replied to  magicschoolbusdropout @2.1.1    one month ago
166 Days.

Not going to go fast enough for me.

But pretty sure I'll like the results.

 
 
 
magicschoolbusdropout
Freshman Expert
2.1.4  magicschoolbusdropout  replied to  Texan1211 @2.1.3    one month ago
Not going to go fast enough for me. But pretty sure I'll like the results.

Same !

 
 
 
magicschoolbusdropout
Freshman Expert
2.1.5  magicschoolbusdropout  replied to  Tessylo @2.1.2    one month ago
Will you stop whining then?

che cosa ?

qualsiasi cosa

 
 
 
Tessylo
Professor Principal
2.1.6  Tessylo  replied to  magicschoolbusdropout @2.1.5    one month ago

What's the translation?  [Deleted]

 
 
 
Ronin2
Professor Quiet
2.1.7  Ronin2  replied to  Tessylo @2.1.6    one month ago
che cosa ?

qualsiasi cosa

is

what?

whatever

So Spanish is for morons only? No wonder Democrats are losing Latino voters. 

 
 

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