GOP view of economy disconnected from reality

[Harry Dresden]

Some people do that all the time. Not just because Biden is president.

well no shit otto.....its just that CC debt right now is pretty high....

 

[Harpy Eagle]

well no shit otto.....its just that CC debt right now is pretty high....

yet as a percent of income it is not and as a percent of GDP it is pretty low.

 

[Toddsterpatriot]

Now why didn’t those tax cuts stop all the deficit increase?

How much of the deficit is from the tax cuts?

 

[MarathonMike]

Republicans have never been more disconnected from the performance of an economy. The robust economic environment has defied it’s naysayers with its resiliency and is delivering a record year. You wouldn’t know it to talk to a republican though. The data shows republicans opinions of the economy have little if anything to do with its actual performance.

A good summary of the republican perception disconnect from reality.

Opinion | Republicans’ views of the economy are detached from reality

Consumer spending is strong, and Americans are starting new businesses at the highest rates since the Census Bureau began tracking this data in 2006. Yet when pollsters ask people how they think the economy is doing, they don’t just express concern. They say the economy is terrible.

The polling data doesn’t show that Americans think the economy stinks so much as it shows that Republicans say it stinks.

Some partisanship has always existed in polling about the economy: When there’s a Democrat in the White House, Democrats are more likely to say the economy is good than Republicans, and both sides change their opinions when the White House changes hands. But this difference has grown in recent years — and grown unequally. A pair of economists who examined decades of polling data concluded, “While both Republicans and Democrats view the economy more favorably when their party controls the White House, the magnitude of this partisan bias is roughly two and a half times larger for Republicans than for Democrats.”

We can see how that is playing out right now. In the latest edition of the University of Michigan’s Index of Consumer Sentiment, the average Democratic score is over twice as high as the Republican score. But what is most striking is just how awful Republicans say the economy is. Their index score for this month is significantly lower than the score they gave the economy in the depths of the Great Recession in 2008 and 2009, when the economy was bleeding hundreds of thousands of jobs every month.

OK Joe, you go tell all those poor young people working 2 or 3 jobs and old people who can't afford meds and eating pet food that they are disconnected from the wonderfulness of the Biden economy. Let us know how that goes.

 

[MarathonMike]

yet as a percent of income it is not and as a percent of GDP it is pretty low.


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Oh here we go, more fun with statistics. Have you ever heard the phrase "There are lies, there are damn lies, and then then there are statistics?" Do you know what that means?

 

[martybegan]

Oh here we go, more fun with statistics. Have you ever heard the phrase "There are lies, there are damn lies, and then then there are statistics?" Do you know what that means?

Remember the Statistic "One in five babies is Chinese"

So does that mean that a black couple having five kids guarantees one of them is Chinese?

 

[Harpy Eagle]

Oh here we go, more fun with statistics. Have you ever heard the phrase "There are lies, there are damn lies, and then then there are statistics?" Do you know what that means?

As a statistician I am not afraid of statistics like you all are.

 

[Harpy Eagle]

Remember the Statistic "One in five babies is Chinese"

So does that mean that a black couple having five kids guarantees one of them is Chinese?

Only if you are too stupid to understand statistics

 

[martybegan]

Only if you are too stupid to understand statistics

The point is statistics can be used to paint a false picture by the mal-intended.

 

[citygator]

OK Joe, you go tell all those poor young people working 2 or 3 jobs and old people who can't afford meds and eating pet food that they are disconnected from the wonderfulness of the Biden economy. Let us know how that goes.

There is a smaller percent of people working 2 jobs now than were in 2019. 5.2% now... 5.3% summer and fall of 2020. Seems the narrative doesnt really fit your perspective. You must be conservative.

 

[Harpy Eagle]

The point is statistics can be used to paint a false picture by the mal-intended.

correct they can. Like saying that overall credit card debt is at all time highs while ignoring the fact as the population grows more and more people will have them, thus adding to the overall credit card debt.

To me a better measure to look at is the average per person and what percent of their income is being used to service the debt.

 

[martybegan]

correct they can. Like saying that overall credit card debt is at all time highs while ignoring the fact as the population grows more and more people will have them, thus adding to the overall credit card debt.

To me a better measure to look at is the average per person and what percent of their income is being used to service the debt.

What is the comparable rate of increase to population increase?

 

[Harpy Eagle]

What is the comparable rate of increase to population increase?

the debt to gdp ratio gives a pretty good picture of that.

 

[martybegan]

the debt to gdp ratio gives a pretty good picture of that.

The more removed from people the numbers are, the less they indicate what's happening at the ground level.

That's if you believe the numbers to start with.

 

[Harpy Eagle]

The more removed from people the numbers are, the less they indicate what's happening at the ground level.

That's if you believe the numbers to start with.

people tend to believe what is happening to them is happening to everyone. Thus if you have a lot of credit card debt you are likely to believe everyone else does also

 

[martybegan]

people tend to believe what is happening to them is happening to everyone. Thus if you have a lot of credit card debt you are likely to believe everyone else does also

The usual "everyone but me is a gullible idiot" retort.

The unearned hubris of the left showing itself as usual.

 

[Harpy Eagle]

The usual "everyone but me is a gullible idiot" retort.

The unearned hubris of the left showing itself as usual.

Weird, the folks on the left say it is a righty thing.

Crazy how alike you two sides are

 

[martybegan]

Weird, the folks on the left say it is a righty thing.

Crazy how alike you two sides are

Ah,. even worse the "I'm in the middle hurr durr durr" superiority.

 

[Harpy Eagle]

Ah,. even worse the "I'm in the middle hurr durr durr" superiority.

The middle, oh hell no. Do you never get anything correct?

 

[martybegan]

The middle, oh hell no. Do you never get anything correct?

Do you ever take or explain your own position instead of just commenting like a jackass?