Biden Gloats After Disastrous September Jobs Report: 885,000 Full-Time Jobs Lost, 1 Million+ Part-Time Jobs Added, Record Multiple Jobholders

[iamwhatiseem]

Bailing out the big 3 automakers and banks was a George W. Bush idea.

Bush Signs $700 Billion Financial Bailout Bill​

View attachment 839735
NPR
https://www.npr.org › 2008/10/03 › bush-signs-700-billi...
Oct 3, 2008 — President Bush signed a $700 billion financial bailout package Friday, shortly after the U.S. House passed the rescue measure, in a vote of ...

Bush bails out U.S. automakers, Dec. 19, 2008​

View attachment 839733
Politico
https://www.politico.com › story › 2018/12/19 › bush...
Dec 19, 2018 — Bush announced a $17.4 billion bailout to General Motors and Chrysler, of which $13.4 billion would be extended immediately. Without federal aid ...

Just keep piling up the absurdities.
It is what you people do. And when you read this, you will still think you are right.
And the reason for that, is you only see what you want to see.

 

[ding]

You mean after another government shutdown causes our credit rating to take a hit (again)?

More like when the rest of the world realizes we aren’t fiscally responsible and the dollar becomes debauched.

 

[ding]

Bailing out the big 3 automakers and banks was a George W. Bush idea.

Bush Signs $700 Billion Financial Bailout Bill​

View attachment 839735
NPR
https://www.npr.org › 2008/10/03 › bush-signs-700-billi...
Oct 3, 2008 — President Bush signed a $700 billion financial bailout package Friday, shortly after the U.S. House passed the rescue measure, in a vote of ...

Bush bails out U.S. automakers, Dec. 19, 2008​

View attachment 839733
Politico
https://www.politico.com › story › 2018/12/19 › bush...
Dec 19, 2018 — Bush announced a $17.4 billion bailout to General Motors and Chrysler, of which $13.4 billion would be extended immediately. Without federal aid ...

There’s a lot of blame to go around for the 2008 financial crisis. I’m not sure anyone can claim a moral high ground there.

 

[rightwinger]

Haha
You still believe Obama saved the economy... sooo.... yeah. I don't think anyone whatsoever besides the fully committed like yourself is going to listen to a single word you say about economics.

Obama saved the US from a Depression

Stopped the Great Bush Recession of 2008 in its tracks
Saved the banks and auto industry

 

[Nuthin' Fancy]

Just keep piling up the absurdities.

THAT would be you.

It is what you people do. And when you read this, you will still think you are right.

So.............what would be the alternative?
Let them fail?
All those jobs..................

And the reason for that, is you only see what you want to see.

Sure like your dear leader told you?

Trump to veterans: Don't believe what you're reading or ...​

Inquirer.com
https://www.inquirer.com › Politics › Nation
Jul 24, 2018 — But as critics pointed out following the speech, Trump's comments closely echoed a quote from George Orwell's dystopian novel 1984, about a ...

 

[Nuthin' Fancy]

There’s a lot of blame to go around for the 2008 financial crisis. I’m not sure anyone can claim a moral high ground there.

That's true, CEO's should have went to jail.
That wasn't the point, Obama got blamed for what Bush did.

 

[ding]

That's true, CEO's should have went to jail.
That wasn't the point, Obama got blamed for what Bush did.

You aren’t getting it if you are singling out one person. The seeds were down back in 2000 and it was a systemic failure of epic proportions. But yes, people should have gone to jail and there never should have been a bailout. Privatized profits and socialized losses are not a good formula for a free enterprise economic model.

 

[Flash]

You have to give it to Ole Potatohead. Dat boy can muck up everything better than anyone else on the planet. Probably the biggest screw up in recent world history.

Gay Barry didn't get very many thing right but the one time he was right was when he said "never underestimate the ability of Joe Potatohead to screw something up".

 

[Nuthin' Fancy]

You aren’t getting it if you are singling out one person.

Sorry, it was the Bush administration but BUSH signed the papers.

The seeds were down back in 2000 and it was a systemic failure of epic proportions.

But yes, people should have gone to jail and there never should have been a bailout. Privatized profits and socialized losses are not a good formula for a free enterprise economic model.

 

[ding]

Sorry, it was the Bush administration but BUSH signed the papers.

If that’s how you need to see it.

 

[John Edgar Slow Horses]

Covid is a convenient excuse, but the root cause of inflation was 20 years of low interest rates which was designed to increase the velocity of money and discourage saving. That and government spending.

Covid was an accelerant poured into the zero interest economic boiler.

 

[Markle]

US also has added more jobs and has a stronger economy than the rest of the world

How have we added jobs when all those jobs are now just equalling those employed a the beginning of the COVID-19 pandemic? As you know, our Labor Participation Rate is still below that pre-pandemic.

 

[rightwinger]

How have we added jobs when all those jobs are now just equalling those employed a the beginning of the COVID-19 pandemic? As you know, our Labor Participation Rate is still below that pre-pandemic.

Nice try

But the preCOVID numbers were passed six months ago

Labor Participation has been declining for decades

https://www.frbsf.org/wp-content/uploads/sites/4/el2023-20-1.png

 

[ding]

Covid was an accelerant poured into the zero interest economic boiler.

Agreed. I never meant to imply Covid had no impact. But it’s impact was magnified by our poor fiscal accountability of the prior 20 years.

 

[Markle]

They think the president sets the prices of things.

MARCH 07, 2023

The Past is Prologue: Biden's Deficit Spending Record​

When President Biden was asked what he we would do differently in the next two years, he responded emphatically, “nothing.” It’s safe to say the President’s budget will advance his radical agenda with record-breaking deficit spending, tax-hikes, and increases in the national debt.
Historic Taxes, Spending, and Deficits

• Over ten years, President Biden’s FY 2023 budget proposed:
  • Spending: $73 trillion or 23.4 percent of GDP—highest sustained level in American history.
  • Taxes: $58 trillion or 18.8 percent of GDP—highest sustained level in American history.
  • Deficits: $14.4 trillion or 4.7 percent of GDP—highest sustained level in American history.

Record-Breaking Debt

• Under the President’s FY 2023 budget, the debt would grow be allowed to grow by $16 trillion over ten years, or $50,000 of debt per American citizen.
• By 2032, the total federal debt would be $135,000 per American citizen, or $330,000 per household.
• Under CBO’s current projections, the gross federal debt would increase from $31 trillion today (123 percent of GDP) to $52 trillion (132 percent of GDP) in 2033. CBO’s most recent projections have the debt growing to $154 trillion by 2053. This is equivalent to more than $1 million per American household ($540,000 after adjusting for inflation)—which is more than four times current median household net worth.

Interest Payments on Debt Fastest Growing Item in Federal Budget

• Since Biden took office, CBO’s projections of ten-year interest payments on the federal debt have grow by $5.9 trillion or 129 percent.
• CBO projects interest payments on the debt to triple over the decade from less than $500 billion to almost $1.5 trillion.
• According to CBO, interest payments will increase from less than 10 percent of the federal budget today, to almost a quarter of the federal budget in 30 years.

Double-Digit Non-Defense Growth, Defense Hits Historic Low

• The FY 2023 Biden Budget proposed a 12 percent increase for non-defense discretionary spending.
• Defense spending would fall to the lowest level as a percent of GDP since before World War II.

Biden’s Fiscal and Economic Policies Increase Spending by $10 trillion

• Legislation enacted since Biden took office has increased debt projections by $6 trillion over ten years.
• Biden’s unprecedented executive actions have increased spending by more than $1 trillion over ten years.
• Biden’s inflationary economic policies have increased CBO’s projection of interest payments on the debt by $3.6 trillion over ten years.

The Past is Prologue: Biden's Deficit Spending Record | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

 

[Markle]

Nice try

But the preCOVID numbers were passed six months ago

Labor Participation has been declining for decades

https://www.frbsf.org/wp-content/uploads/sites/4/el2023-20-1.png

 

[rightwinger]

MARCH 07, 2023

The Past is Prologue: Biden's Deficit Spending Record​

When President Biden was asked what he we would do differently in the next two years, he responded emphatically, “nothing.” It’s safe to say the President’s budget will advance his radical agenda with record-breaking deficit spending, tax-hikes, and increases in the national debt.
Historic Taxes, Spending, and Deficits

• Over ten years, President Biden’s FY 2023 budget proposed:
  • Spending: $73 trillion or 23.4 percent of GDP—highest sustained level in American history.
  • Taxes: $58 trillion or 18.8 percent of GDP—highest sustained level in American history.
  • Deficits: $14.4 trillion or 4.7 percent of GDP—highest sustained level in American history.

Record-Breaking Debt

• Under the President’s FY 2023 budget, the debt would grow be allowed to grow by $16 trillion over ten years, or $50,000 of debt per American citizen.
• By 2032, the total federal debt would be $135,000 per American citizen, or $330,000 per household.
• Under CBO’s current projections, the gross federal debt would increase from $31 trillion today (123 percent of GDP) to $52 trillion (132 percent of GDP) in 2033. CBO’s most recent projections have the debt growing to $154 trillion by 2053. This is equivalent to more than $1 million per American household ($540,000 after adjusting for inflation)—which is more than four times current median household net worth.

Interest Payments on Debt Fastest Growing Item in Federal Budget

• Since Biden took office, CBO’s projections of ten-year interest payments on the federal debt have grow by $5.9 trillion or 129 percent.
• CBO projects interest payments on the debt to triple over the decade from less than $500 billion to almost $1.5 trillion.
• According to CBO, interest payments will increase from less than 10 percent of the federal budget today, to almost a quarter of the federal budget in 30 years.

Double-Digit Non-Defense Growth, Defense Hits Historic Low

• The FY 2023 Biden Budget proposed a 12 percent increase for non-defense discretionary spending.
• Defense spending would fall to the lowest level as a percent of GDP since before World War II.

Biden’s Fiscal and Economic Policies Increase Spending by $10 trillion

• Legislation enacted since Biden took office has increased debt projections by $6 trillion over ten years.
• Biden’s unprecedented executive actions have increased spending by more than $1 trillion over ten years.
• Biden’s inflationary economic policies have increased CBO’s projection of interest payments on the debt by $3.6 trillion over ten years.

The Past is Prologue: Biden's Deficit Spending Record | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

Deficits don’t matter….Dick Cheney

 

[rightwinger]

Labor Force Participation has been declining since the late 90s

 

[bodecea]

Only a goddam fool thinks they're better off under Bidenomics

Blaming others for your failures?

 

[Papageorgio]

339,000 jobs in September
14 million new jobs under our President

8 million Americans now have two jobs, the highest in US history, just to make ends meet. If you feel Biden is responsible for job creation, then he also must be the reason for inflation, highest credit card debt in history, that is creating the highest number of people needing two jobs. The good news for Biden is, most of those that need two jobs live in the cities and the cities vote for Democrats.