Proving The Experts Wrong, The Biden Economy Is Booming While Reducing Inequality

[justoffal]

Real Estate is where you can leverage the most money and has the highest potential on a return.

Yes

 

[Harry Dresden]

you have no fucking clue how I think.

but thanks for playing!

yea i do golfing gator...just because you change your name doesnt change what you have said...but thanks for playing....

 

[22lcidw]

What I mean by that is if unregulated free market capitalism were in charge, we would wind up with a small ruling class, small merchant class and the masses would be the poor or back in England they called them "the rabble".

That's what Reagan/Bush have produced. This is where we are heading. Look

Household wealth swelled at a record pace during the pandemic. From 2019 to 2022, the median net worth of American families jumped 37% to $192,900, after adjusting for inflation. It’s the largest increase ever recorded by the federal Survey of Consumer Finances, released last fall. Surging home values and rising stock ownership fed the surge.

If Bush or Trump were president they'd be telling you America is great again. It's your job to become one of the rich who are benefiting from our economy. If you are not, it's your fault. But because Biden is President they're pretending this fact is not their doing. And you can't seem to realize how much they've flip flopped on this issue from the days when Bush was in charge. This was true on Bush's watch and I remember they said the economy was great. Because the rich were doing GREAT back then too while we were struggling. But the numbers, like this, suggested the economy was doing great.

Most Americans have short memories.

You forget the social welfare state we created. And the stringent rules that costs us untold hundreds of billions a year with contractors getting paid like royalty for mundane things. There is a difference in the way people worked at the dawn of the 20th century compared to the 21st century. We are fortunate compared to that and unfortunately, we wasted so much with it also.

 

[C_Clayton_Jones]

And in January 2020 it was $0.98

Proving dishonest conservatives wrong as well.

 

[sealybobo]

bobo shut the fuck up....i get it you are trying to be a good little democrat....the prices on things then were nothing like they are today...

The Reagan administration’s response to the persistent stagflation was to introduce economic policies that called for widespread tax cuts, more military spending, decreased social spending, and deregulation of domestic markets. These policies, known as Reaganomics, helped bring inflation down, but critics of the policies claim they added to the national debt and deficit levels and widened the wealth gap.

U.S. Inflation Rate by President: From Eisenhower to Biden

How much control does the president really have over inflation, and how have their actions impacted the inflation rate over the years? Here is the average year-over-year inflation by president, and the events and economic conditions that contributed to it.

www.investopedia.com

The average yearly inflation rate under President Bill Clinton was 2.6%. Clinton faced no recessions or major wars during his two terms in office. Inflation also remained relatively low during this time.21


The Clinton administration and policies, known as Clintonomics, lowered the U.S. national debt and created a budget surplus of over $236 billion by fiscal year 2000.

The average yearly inflation rate under President George W. Bush was 2.8%. Bush faced the 2008 Great Recession, considered the most significant economic downturn since the 1930s Great Depression. Inflation fell to 0.1% in December 2008 and dipped to negative levels (deflation, or negative inflation) until late 2009.

The average yearly inflation rate under President Barack Obama was 1.4%. Inflation remained relatively low during Obama’s two terms in office.

The average yearly inflation rate under President Donald Trump was 1.9%. Inflation remained low during Trump’s presidency.


When the COVID-19 pandemic hit in 2020, bringing a brief but severe recession along with it, the Trump administration declared a state of emergency and passed stimulus measures such as the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act in an attempt to provide relief to individuals and businesses.29

University of Virginia, Miller Center. “Donald Trump: Domestic Affairs.”
The economic policies followed by the Trump administration are now known as Trumponomics.

Ron DeSantis and Chris Christie Call Out Trump for Adding to Federal Debt​

"He owes it to you to defend his record where they added $7.8 trillion to the debt that set the stage for the inflation that we have."​

 

[sealybobo]

You forget the social welfare state we created. And the stringent rules that costs us untold hundreds of billions a year with contractors getting paid like royalty for mundane things. There is a difference in the way people worked at the dawn of the 20th century compared to the 21st century. We are fortunate compared to that and unfortunately, we wasted so much with it also.

Recent analysis from Bank of America showed the average revenue per worker for companies in the S&P 500 hit an all-time high in February after 15 years of no gains. This is one of several signs that labor productivity is rebounding after slumping in 2022.

 

[Man With A Plan]

We've been saying that since the Bush years.

Would you be saying this if Trump were president? No you would not. You would be taking the other side, which is...

Go find another job. Go back to school. Start your own company. There are 9 million unfilled jobs what more do you want? WHAT do you want?

Maybe go get a job with a union. Those workers got raises last year. Maybe those people struggling need to organize or join unions?

Any solution we come up with, Republicans say "that will just cause inflation". Meanwhile corporations are artificially raising the price of things. Even thought the pandemic is over they found you suckers will pay any price.

The Biden economy is GREAT according to the Biden apologists...but if it isn't for you...then their solution is for you to get another job? What? A second job? Or a third? Just to pay your bills? Bills that you used to be able to pay without a problem?
The truth is that the inflation that Joe Biden created with all of his spending is costing the average American over a thousand dollars a month more just to buy the things that they normally purchased! That's money that's not in their bank accounts or their pockets. Credit card debt is at record levels right now. People are putting things on their credit cards that they don't have the money to buy as they normally do.
You can CLAIM that things are great but people know better! They know things are worse and they know who did that to them!

 

[Harry Dresden]

The Biden economy is GREAT according to the Biden apologists...but if it isn't for you...then their solution is for you to get another job? What? A second job? Or a third? Just to pay your bills? Bills that you used to be able to pay without a problem?
The truth is that the inflation that Joe Biden created with all of his spending is costing the average American over a thousand dollars a month more just to buy the things that they normally purchased! That's money that's not in their bank accounts or their pockets. Credit card debt is at record levels right now. People are putting things on their credit cards that they don't have the money to buy as they normally do.
You can CLAIM that things are great but people know better! They know things are worse and they know who did that to them!

bobo shops at 7-11 what the fuck does he know...

 

[Harpy Eagle]

yea i do golfing gator...just because you change your name doesnt change what you have said...but thanks for playing....

 

[sealybobo]

The Biden economy is GREAT according to the Biden apologists...but if it isn't for you...then their solution is for you to get another job? What? A second job? Or a third? Just to pay your bills? Bills that you used to be able to pay without a problem?
The truth is that the inflation that Joe Biden created with all of his spending is costing the average American over a thousand dollars a month more just to buy the things that they normally purchased! That's money that's not in their bank accounts or their pockets. Credit card debt is at record levels right now. People are putting things on their credit cards that they don't have the money to buy as they normally do.
You can CLAIM that things are great but people know better! They know things are worse and they know who did that to them!

That's what I'm saying!!! That was the advice you Republicans gave during the Bush years when this exact same thing was going on. The middle class struggling and the rich getting richer. What did you tell them then?

At least now there are 9 million jobs available. Back then for every 20 people looking 1 job was available. This was the reason Trump said the unemployment number wasn't real remember? Because so many people just stopped looking. That was the same truth under Bush.

 

[skews13]

not everyone is doing great .....the wealthier are doing ok....the quality of life aint so great for many out there.....

No it's not. But it's getting better everyday. The job market is as good as i've seen it. Can't do anything about the businesses out there price gouging every dime they can sqeeze out of everybody. That's done at the local level. We now have to protect social security, medicare for the seniors and veterans,

 

[Flash]

How good is the Biden Economy? Off the f----- charts good!



Economists expected a recession because the Federal Reserve had hiked interest rates to fight the post-COVID inflation we’d been experiencing. Interest rates went up 5 full percentage points in 15 months. Rising interest rates, because they make borrowing more expensive, often lead to a recession, as companies and consumers cut back on spending. This time, however, the Biden economy appears to have avoided that scenario. Instead, we’re experiencing what Paul Krugman called “a better-than-Goldilocks soft landing.”

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Proving the experts wrong, the Biden economy is booming while reducing inequality

President Joe Biden has been having some fun with the economists whose predictions about the economy were so wrong. He jabbed back: “Experts, from the time I got elected, were insisting that a recession was just around the corner. Every month, there...

www.dailykos.com

And while the booming Biden economy rolls right along. TFG, can't string together a complete sentence at a loser rally.

 

[Harry Dresden]

that should be me doing that to you....

 

[Harry Dresden]

No it's not. But it's getting better everyday. The job market is as good as i've seen it. Can't do anything about the businesses out there price gouging every dime they can sqeeze out of everybody. That's done at the local level. We now have to protect social security, medicare for the seniors and veterans,

But it's getting better everyday

yea sure it is.....for who?.....

 

[sealybobo]

No it's not. But it's getting better everyday. The job market is as good as i've seen it. Can't do anything about the businesses out there price gouging every dime they can sqeeze out of everybody. That's done at the local level. We now have to protect social security, medicare for the seniors and veterans,

I agree. Let's stop nit picking who robbed from the social security fund. Sounds like both parties did. Which party wants to fill the fund up and which party is going to push for 25% cuts to benefits?

Didn't Trump propose a tax break on the tax that pays for social security? Bad idea. Republicans are always pushing this idea.

AND, we need 9 million workers right now paying into social security to pay for all the baby boomers who are retiring now. Meanwhile the baby boomer politicians are going to cut our benefits and raise our retirement ages.

I'm okay with making changes to anyone younger than 50.

 

[Harpy Eagle]

that should be me doing that to you....

whatever helps you sleep at night little buddy is good by me

 

[Harry Dresden]

whatever helps you sleep at night little buddy is good by me

so were posters here getting you mixed up with the other gator?....

 

[Man With A Plan]

That's what I'm saying!!! That was the advice you Republicans gave during the Bush years when this exact same thing was going on. The middle class struggling and the rich getting richer. What did you tell them then?

At least now there are 9 million jobs available. Back then for every 20 people looking 1 job was available. This was the reason Trump said the unemployment number wasn't real remember? Because so many people just stopped looking. That was the same truth under Bush.

Were people having to work two jobs just to pay their bills? Inflation has never been this bad and it's something that Joe Biden DID! It didn't happen because of a real estate crash or a Covid pandemic...it happened because Joe Biden ignored the advice of even liberal economists like Larry Summers and pumped trillions of dollars into the economy. Joe Biden is an idiot. He always has been. Barack Obama chose Hillary Clinton as the person he supported when his two terms were ending BECAUSE he knew what an idiot Joe Biden is!

 

[Harpy Eagle]

so were posters here getting you mixed up with the other gator?....

Some did, but that is not why I changed my username.

And I did not hide by getting a new account, all my post still exist.

 

[Harpy Eagle]

Were people having to work two jobs just to pay their bills?

The percent of people working multiple jobs was higher in 2019 than now. Was that due to them not being able to pay their bills then?