Joe’s economy still healthy: GDP expands +2.9%

[hadit]

Passed the inflation busting legislation early last year. Has infrastructure on its way toward improvement. Reduced prescription prices so people have money to spend elsewhere. Returning manufacturing back to the US with the Chip legislation. Has an energy policy allowing higher average oil production and higher than almost all of Trumps months output. Provided steady leadership. Joe is amazing even at his age.

And he deserves credit to the extent that signing things Congress puts on his desk actually improve the economy. Naturally, to the extent that those steps harm the economy in the mid to long term, he deserves blame.

 

[hadit]

Evidently not

Biden said wait until all the numbers are in before you declare a recession….
Once again, our President was right

Wait, you're saying that the economic situation NOW means there wasn't a recession THEN? That we can pick and choose which set of circumstances we can apply to offset weaknesses? In that case, we should apply TRUMP!'s best quarters to cover the COVID downturn.

 

[JimH52]

Passed the inflation busting legislation early last year. Has infrastructure on its way toward improvement. Reduced prescription prices so people have money to spend elsewhere. Returning manufacturing back to the US with the Chip legislation. Has an energy policy allowing higher average oil pro higher than almost all of Trumps months output. Provided steady leadership. Joe is amazing even at his age.

While his possible opponent in 2024 is still claiming he won an election over two years ago...that he lost.. trump and lake are losers who should go sit in their crier's corner.

 

[hadit]

What happened to Republicans celebrating a Biden Recession?

What about it?

 

[rightwinger]

Wait, you're saying that the economic situation NOW means there wasn't a recession THEN? That we can pick and choose which set of circumstances we can apply to offset weaknesses? In that case, we should apply TRUMP!'s best quarters to cover the COVID downturn.

We are talking about the performance of the economy not a one quarter snapshot

In spite of Republican gloom and doom, 2022 was obviously not a recession

 

[hadit]

We are talking about the performance of the economy not a one quarter snapshot

In spite of Republican gloom and doom, 2022 was obviously not a recession

I think I see where you went wrong. No one defines a recession based on one quarter. And you can keep crowing about the recession being short-lived, but that doesn't give much comfort to people still seeing hard to deal with high prices.

 

[TNHarley]

Praise Kenyesian economics! Its our SAVIOR!

 

[Natural Citizen]

Praise Kenyesian economics! Its our SAVIOR!

Heh heh. And me without my partty hat.

In other news, the national debt, thanks to our Keynesian overlords, is a little over 120% of the gross domestic product (GDP)

Which, of course, means the government (that means us poor saps) owe more than the population actually produces.

 

[Oddball]

Not sure how the Republican will spin this but it’s really good news. Basically inflation is slowing and economy is still moving along.


US Economy Expands at a Faster-Than-Expected 2.9% Pace


The US economy expanded at a healthy pace in the fourth quarter, though an extended salvo of Federal Reserve interest-rate hikes is seen jeopardizing growth prospects this year.

Gross domestic product increased at a 2.9% annualized rate in final three months of 2022 after a 3.2% gain in the third quarter, the Commerce Department’s initial estimate showed Thursday. Personal consumption (GDPCTOT%), the biggest part of the economy, climbed at a less-than-forecast 2.1% pace.

Real wages down for the 21st month in a row....People are working harder for less.

GFY, propagandist tool.

 

[Oddball]

Praise Kenyesian economics! Its our SAVIOR!

We'd be better off if they were practicing Keynesian econ.....They're just making up shit on the fly now.

 

[Oddball]

What happened to Republicans celebrating a Biden Recession?

We're busy celebrating $5 eggs and the impending return of $4 gasoline, asshole.

 

[The5thHorseman]

Yep, it's just takes a spell sometimes.

Always does, Cassandra..

 

[C_Clayton_Jones]

We are talking about the performance of the economy not a one quarter snapshot

In spite of Republican gloom and doom, 2022 was obviously not a recession

...and as usual conservatives want the American people to suffer for some perceived political gain.

 

[The5thHorseman]

It was in recession.

Stop now.

It is quite clear that you understand absolutely nothing.

 

[hadit]

...and as usual conservatives want the American people to suffer for some perceived political gain.

And as usual, that's a steaming pile right there.

 

[Oddball]

Stop now.

It is quite clear that you understand absolutely nothing.

It's quite clear that what you think you know just isn't so.

 

[The5thHorseman]

It's quite clear that what you think you know just isn't so.

GDP expanded as reported.

Your desperate need to qualify it notwithstanding.

 

[The5thHorseman]

We're busy celebrating $5 eggs and the impending return of $4 gasoline, asshole.

It's called "avian flu"....literally 10s of millions of chickens are being killed.

The US is on pace to produce more nat gas and oil than ever.

 

[Oddball]

GDP expanded as reported.

Your desperate need to qualify it notwithstanding.

"GDP" fraudulently includes the gubmint throwing around funny money, in order to keep bubbles inflated.

Back out that grift, and what's the productivity?....What's the PPI, mighty oracle?

 

[The5thHorseman]

"GDP" fraudulently includes the gubmint throwing around funny money, in order to keep bubbles inflated.

Back out that grift, and what's the productivity?....What's the PPI, mighty oracle?

No, it doesn't....it counts what it spends on goods and services.

Transfer payments aren't included in GDP.