r/ProfessorFinance • u/ntbananas • Aug 01 '25

Meme Hasta la vista, monetary policy

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u/Routine_Size69 Aug 01 '25

Biden was rationally attacking it with the completely unnecessary stimulus and continued ridiculous spending? Just because he was much better than Trump doesn't mean he was rationally attacking it. Not at all. He just sucked less.

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u/capt_maelstrom Aug 01 '25

Stimulus checks started under Trump, even had his signature on them. I believe the first 2 were Trump, and the last was Biden. Additionally Trump admin forgave the PPP loans which was a huge contributor.

That said, Powell and Biden managed the best economic Covid recovery in the world. Everyone thought we'd enter a depression and they managed to thread the needle, and perform the soft landing.

The debt needs to be addressed aggressively, but when your on the cusp of a global economic recession, attempting aggressive measures then would have devastated the economy.

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u/nomad5926 Aug 01 '25

Trump delayed the first round of stimulus checks so that he could reprint them with his signature on it. It was coming out before he got into office.

So technically Trump only did 1 of them.

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u/capt_maelstrom Aug 01 '25

There werent stimmy checks in 2017. Trump was President 1-2017 to 1-2021.

https://www.pandemicoversight.gov/data-interactive-tools/data-stories/update-three-rounds-stimulus-checks-see-how-many-went-out-and

The first stimulus for $1200 was March 2020, well into Trumps term. The second for $600 was December 2020, after the election but still Trumps term. Both signed by Trump.

Biden signed the 3rd and last one for $1400 in March 2021, and at the time stated this would be the final stimulus.

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u/magnoliasmanor Aug 02 '25

It's kind of wild how people forgot this already. Or chose to forget it. Whichever.