The Pour Over Today - Bonus Episode: 2024 Election Topics - Inflation

Episode Date: September 17, 2024

In a special episode of The Pour Over Today, we’re explaining the debate about inflation and the economy, including where VP Harris and former President Trump stand. This is the sixth episode of our Election Collection, designed to help us grow in understanding and compassion on key 2024 election topics.  Please support our TPO sponsors! Cru: give.cru.org/tpo Upside: https://links.thepourover.org/Upside Every Woman's Bible: everywomansbible.com Life Application Study Bible: https://links.thepourover.org/LASB_Podcast The Bible Study: https://links.thepourover.org/TheBibleStudy Politics for People Who Hate Politics: https://links.thepourover.org/PoliticsForPeopleWhoHatePolitics Keola Fit: https://links.thepourover.org/KeolaFit_Pod Compelled Podcast: https://links.thepourover.org/Compelled Dwell Differently: https://links.thepourover.org/DwellDifferently Nothing Left Unsaid Podcast: https://linktr.ee/tgnlu CCCU: https://www.mycccu.com/tpobonus Courage for Life Study Bibles: links.thepourover.org/CFL_Podcast_0901

Today's episode is brought to you by our lead sponsor, Crew. In a special episode of The Poor Over Today, we're explaining the debate about inflation and the economy, including where VP Harris and former President Trump stand. This is the sixth episode of our election collection, designed to help us grow in understanding and compassion on key 2024 election topics. and compassion on key 2024 election topics. Voters number one issue this election is, drumroll, inflation. Unlike other issues, there is a near universal agreement on what success in this area means. Low inflation, around 2%.

This means prices and wages rise slowly and predictably over time. Low inflation is closely intertwined with Uncle Sam's other economic goals. Low unemployment, a rising stock market, and growing GDP, gross domestic product, is the combined value of all goods and services produced by a country. Here's where Uncle Sam stands right now. Inflation is at 2.9%. This is down significantly from its peak of 9.1% in June 2022, but still above the target of 2%. Unemployment is at 4.2%.

3% to 5% is generally considered healthy. Unemployment surged to 14.8% during the pandemic but quickly returned to around 3.5% to 4%. GDP grew 2.5% in 2023, slightly below the long-term average of 3.15%. The stock market is at a record high, up around 25% over the last 12 months, average is around 10%, driven by the technology sector, names like Nvidia, Apple, Amazon, Microsoft, and Google. While Republicans and Democrats largely agree on what economic success looks like, there's disagreement on how to accomplish it. We'll be back with what the two parties say after a quick break.

With over 1,000 translations and every type of decorative edition, it's easy to forget how many people can't even get their hands on a single copy of the Bible in their native language. This is why we've partnered with Crew. Crew has missionaries in almost every country, but they need more Bibles. One missionary said, I have never seen such a thirst for the word of God in my country. Let's quench that thirst. For just $24 a month, you can provide three people with Bibles every month. As a bonus, CREW will provide meals to 12 hungry individuals

through their humanitarian ministry and send you a free TPO coffee mug. Simply text TPO to 71326 or visit give.crew.org slash TPO to 71326 or visit give.crew.org.tpo. Again, that's texting TPO to 71326 or give.cru.org.tpo. Message and data rates may apply, available to U.S. addresses only. Music Republicans generally believe that reducing regulations, government spending, and taxes will create the strongest economy.

Most believe the free market and individual achievement are the primary drivers of economic prosperity, and they criticize government programs as being inefficient and stifling innovation. Republicans largely blame the high inflation in 2021 through 2022 on the government's aggressive spending during the pandemic. Democrats generally believe that providing equal economic opportunity and reliable social safety nets will create the strongest economy. Most support raising taxes on the wealthiest Americans and corporations to fund social safety nets. For example, Medicaid, housing assistance, and food stamps.

Believing that people do their best work when their basic needs are guaranteed. Democrats largely blame corporate greed for the high inflation in 2021 and 2022. Whether the broader economy is struggling or thriving, Christians should give generously of their time, talents, and resources to those in greater need. Seek out opportunities to give away what you have. Don't neglect to do what is good and to share, for God is pleased with such sacrifices. Hebrews 13, 16.

And now, candidate stances. Former President Trump supports reducing regulations and cutting taxes. While in office, he signed the Tax Cuts and Jobs Act, which lowered some individual tax rates through 2025 and reduced the corporate tax rate from 35% to 21%. He added relatively few new regulations and worked to roll back some existing regulations. He repeatedly called the Biden economy a disaster and promised to fix it quickly. He repeatedly called the Biden economy a disaster and promised to fix it quickly.

Vice President Harris supports raising taxes on the wealthy and expanding social safety nets. As VP, she supported several large spending bills, for example, the $1.9 trillion American Rescue Plan to stimulate the economy, as well as efforts to crack down on tax loopholes and regulate away junk fees. As a Senator, she supported tax credits for working class people and raising public school teacher pay through estate taxes on the wealthy. That's all we have for today. Thanks so much for listening. If you're listening on the Apple Podcasts app, give us a 5-star rating and drop a review.

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