Bidenomics
- Thread starter binsfeldcyhawk2
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JFC
Bidenomics Is Working: The President’s Plan Grows the Economy from the Middle Out and Bottom Up—Not the Top Down | The White House
President Biden and Vice President Harris came into office determined to rebuild our economy from the middle out and the bottom up, not the top down—and that strategy is working. Even as they faced an immediate economic and public health crisis—with a raging pandemic, elevated unemployment...
Asked a question. You panties in a bunch again today? I don't trust today's media.JFC
Bidenomics Is Working: The President’s Plan Grows the Economy from the Middle Out and Bottom Up—Not the Top Down | The White House
President Biden and Vice President Harris came into office determined to rebuild our economy from the middle out and the bottom up, not the top down—and that strategy is working. Even as they faced an immediate economic and public health crisis—with a raging pandemic, elevated unemployment...www.whitehouse.gov
- Sep 13, 2002
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And considering the Biden administration has done quite well managing the inflation and interest rate hike balancing act - to such a degree that the U.S. has kept the lowest level of inflation in the G7 and has the best performing economy of all of them as well - you can presume they are VERY confident the economy will continue to be strong heading into 2024, otherwise they would not make this gamble.
Considering anyone that doesn't fit your mold wouldn't be viable, yours is an exercise in futility. All you need to do is look at how the majority of American view the countries direction. Over 70% say its headed in the wrong direction.
Poll: Nearly 3 in 4 Americans say country is on ‘wrong track’
A new national NBC News poll shows voters deeply dissatisfied with the direction of the country and having concerns about both President Biden and former President Donald Trump ahead of the 2024 presidential election.
www.nbcnews.com
Instead of talking about BS like woke and worrying about leftists on Twitter, maybe the Republicans could come up with serious governing proposals.
Considering anyone that doesn't fit your mold wouldn't be viable, yours is an exercise in futility. All you need to do is look at how the majority of American view the countries direction. Over 70% say its headed in the wrong direction.
Poll: Nearly 3 in 4 Americans say country is on ‘wrong track’
A new national NBC News poll shows voters deeply dissatisfied with the direction of the country and having concerns about both President Biden and former President Donald Trump ahead of the 2024 presidential election.
For differing reasons. I think its in the wrong direction because 35% of the country will back someone like Trump. That is certainly not Biden's fault. I am not the only one who thinks that way.
Again, present a viable policy alternative. Fighting 'Woke' isnt being serious.
I mean he's not wrong. The one qualifier to add would be Trump's economic collapse would have only been a recession had COVID not made it a total collapse. In contrast the last three Dem's Clinton, Obama and now Biden have all seen growth with Clinton even creating a surplus. It's really quite the contrast.
The has been a downturn because FOX News and GOP politicians have told us there is one….. no real facts or explanations are necessary.
Anyone who lived through Jimmy Carter’s stagflation really appreciated Reagonomics…
So they disparage trickle-down via the private economy and propose trickle-down via the government?
The twist is that he is (once again) picking the winners and losers and channeling those picks through the government.
His program is based exclusively on the discredited theories of John Maynard Keynes which always result in higher inflation. Claiming it will focus on the "middle class" is nonsense. It focuses on increased taxes and increased government spending, which in turn hurt, and ultimately devastate the middle class.
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The programs of John Kennedy, Ronald Reagan, Clinton/Gingrich, and Donald Trump flat-out worked ... until in each case, some idiot successor decided to spend the benefits to the overall economy on junk programs and wars.
... and if there was ever a junk program, the mother of all junk programs it is this battle on climate change! Instead of Biden declaring this correctly to be a loser, he is making it a centerpiece of his economic agenda.
The twist is that he is (once again) picking the winners and losers and channeling those picks through the government.
His program is based exclusively on the discredited theories of John Maynard Keynes which always result in higher inflation. Claiming it will focus on the "middle class" is nonsense. It focuses on increased taxes and increased government spending, which in turn hurt, and ultimately devastate the middle class.
..................................................................................
The programs of John Kennedy, Ronald Reagan, Clinton/Gingrich, and Donald Trump flat-out worked ... until in each case, some idiot successor decided to spend the benefits to the overall economy on junk programs and wars.
... and if there was ever a junk program, the mother of all junk programs it is this battle on climate change! Instead of Biden declaring this correctly to be a loser, he is making it a centerpiece of his economic agenda.
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- Sep 13, 2002
- 94,262
- 191,102
- 113
Yeah, and most Americans are woefully uninformed and ignorant.Considering anyone that doesn't fit your mold wouldn't be viable, yours is an exercise in futility. All you need to do is look at how the majority of American view the countries direction. Over 70% say its headed in the wrong direction.
Poll: Nearly 3 in 4 Americans say country is on ‘wrong track’
A new national NBC News poll shows voters deeply dissatisfied with the direction of the country and having concerns about both President Biden and former President Donald Trump ahead of the 2024 presidential election.
They would be fools to think this. Carter inherited a train wreck.
Wrong. Carter inherited an expanding economy with 5.4% GDP, 4.9% Inflation and 7.8% unemployment. When he left office the economy was in recession, -0.3% GDP, 12.5% Inflation and 7.2% unemployment. Nice try though...
In all fairness, I should edit my above post to add Warren Harding to the list of mentioned and popularly known supply-siders. He was the first president in the modern era to balance the budget after it had been blown up by Woodrow Wilson.
Since the actual term "Supply Side" was not really coined until the late 1940's, he always gets left off of these lists.
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From the NYT:
" ... By the time he left office in June 1922, the federal budget had been balanced, revenues exceeded expenditures and the public debt had been reduced. Spending had been $6.3 billion in 1920; by 1922 it had dropped to $3.3 billion."
His term in office was immediately followed by the Roaring Twenties! What a hell of a legacy! ... and what an example for modern day believers in government and the power of profligate spending.
Since the actual term "Supply Side" was not really coined until the late 1940's, he always gets left off of these lists.
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From the NYT:
" ... By the time he left office in June 1922, the federal budget had been balanced, revenues exceeded expenditures and the public debt had been reduced. Spending had been $6.3 billion in 1920; by 1922 it had dropped to $3.3 billion."
His term in office was immediately followed by the Roaring Twenties! What a hell of a legacy! ... and what an example for modern day believers in government and the power of profligate spending.
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Guess I don’t really understand the need for a thread on this. While inflation is still fairly high we’re doing much better than most of the world. The fed seems to have accomplished what they wanted. The election is not that far away. So is Joe sleepy or is he this mastermind keeping Hunter out of jail? What are you looking for @binsfeldcyhawk2 ?
Did the other countries damage themselves more with stricter Covid response ?
If so, thank anybody but a lefty for America’s recovery.
If so, thank anybody but a lefty for America’s recovery.
This is so superficial it is hardly worth responding. I don't think you want to compare unemployment numbers by the way. Anyways there were large factors at play here that more contributory than anything that Carter did. The energy crisis being one , but perhaps more important was the loss of manufacturing jobs overseas, the demographics of the baby boomers reaching maturity etc.
Carter started many of the elements that led to the Reagan recovery. He appointed Volcker who continued his policies during the Reagan administration. Carter passed a slew of deregulation policies affecting beer, transportation, energy, trucking, none of these had time to have an effect during his presidency.
In general I think we tend to give way too much credit and blame to the president for economic issues. There are global and long term factors that significantly influence the economy and the President has relatively few buttons they can push that have significant influence. Most
Current nominal growth rate: 1.8%
Current GNP Deflator: 4.1%
Inferred real growth rate: -2.3%
The actual calculations are slightly different, but this is a reasonable approximation.
We have negative growth. To argue the opposite is delusional.
Considering stagflation ran 1973-82 that would have been quiet the trick for him not being president yet. Reagan didn't end it either. Paul Volcker did. Stick to driving trucks
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The data does not back that up. The Dem presidents have consistently posted better GDP. 10 of the 11 recessions since 1953 started under Republicans. You people talk talk talk about economics....but....never perform.
BTW...it's not a great measure of success. The OECD has better quality of life indicators.
I don't know what those numbers mean together or how you got them. I'm sure these aren't made up things but it does seem like you are making a different argument than the one the Biden administration is making.
One thing is for sure, for an economy with, according to your numbers, negative growth, there sure are a lot of jobs being created.
I cannot imagine what those indicators might be. Improving prosperity is kind of a biggie. It seems to lead to longevity, better health care, and all kinds of things that pass as good things.
And the data does indeed back it up. Why don't you google Arthur Laffer, the man himself and glance over his charts that show all of the inflection points going back a hundred years or so. They are consistent in showing that lower taxes spur growth and higher taxes stunt growth.
I am quite sure that a lot of the new jobs are government jobs. (We know that the IRS has a budget calling for hiring another 87,000 people for example ... and even the revised final draft of the budget called for in across the board increases in staffing.)
I suspect that the high paying Wall Street jobs, and the marketing/coding/software design jobs in Silicon Valley are fewer than in years past. I keep reading that the new jobs are largely in the hospitality industry .. i.e. hotels, restaurants, bars and travel businesses. So, if I am a new graduate from a state university, I am more likely going into a Hertz training program than into the Chase Investment Bank.
I do not think these new jobs pay as well as do the jobs that Twitter or Tesla cancelled.
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I am surmising here so feel free to prove me wrong.
You Fs called it Obamacare until the value you saw it provided people. Then it became the ACA. Worry about your side. It's a shitshow
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