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

[Harpy Eagle]

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.

So, the trillions pumped into the economy during 2020 had no impact on the inflation that followed?

 

[Man With A Plan]

So, the trillions pumped into the economy during 2020 had no impact on the inflation that followed?

Pumping trillions into an economy is almost ALWAYS going to be inflationary, Harpy! Doing so in an economy that's primed to bounce back after the Covid shut downs was idiotic fiscal policy...something that Summers warned would be inflationary!

 

[Markle]

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.

 

[Harpy Eagle]

Pumping trillions into an economy is almost ALWAYS going to be inflationary, Harpy! Doing so in an economy that's primed to bounce back after the Covid shut downs was idiotic fiscal policy...something that Summers warned would be inflationary!

You did not answer the question. Did the Trillions handed out during COIVD have any impact on the inflation that followed?

 

[Markle]

You're blaming the wrong party for that. Remember Republicans pushed for not taxing corporations. Who do you think is going to have to pay more if they pay less? Republicans shifted the tax burden more on to you.

What is the source of every dollar a corporation pays in taxes? Isn't it true that the consumer has to provide every dollar paid in taxes by a corporation? Every dollar!

 

[Harpy Eagle]

What is the source of every dollar a corporation pays in taxes? Isn't it true that the consumer has to provide every dollar paid in taxes by a corporation? Every dollar!

The consumer is the source of every dollar a corporation has.

If you raise their taxes do they get less profit or do they raise prices to cover?

One thing we know for sure, is that when you cut their taxes they never lower prices to give that back to the consumers.

Seems the consumers are screwed either way.

 

[Man With A Plan]

You did not answer the question. Did the Trillions handed out during COIVD have any impact on the inflation that followed?

I did answer the question. Pumping Trillions into a normal economy is going to be inflationary. During the Covid shutdowns the economy wasn't functioning therefore money wasn't being put in which would render that Covid spending much less inflationary than normal. What Biden did that was so idiotic was that he pumped Trillions into the economy AFTER the shut downs had ended! That was what Summers was so dead set against because he knew how inflationary it was going to be!

 

[Harpy Eagle]

I did answer the question. Pumping Trillions into a normal economy is going to be inflationary. During the Covid shutdowns the economy wasn't functioning therefore money wasn't being put in which would render that Covid spending much less inflationary than normal

Well, except for the fact most of the money just sat in bank accounts waiting for something to spend it on.

What Biden did that was so idiotic was that he pumped Trillions into the economy AFTER the shut downs had ended!

I agree that was bad, but that does not remove the impact of the COVID money.

To ignore that money is to just mark yourself as a partisan drone

 

[Man With A Plan]

Well, except for the fact most of the money just sat in bank accounts waiting for something to spend it on.



I agree that was bad, but that does not remove the impact of the COVID money.

To ignore that money is to just mark yourself as a partisan drone

I'm not a fan of government subsidies, Harpy but when you force shut downs of the economy and people faced bankruptcies of their businesses and didn't have the money to pay rent or buy groceries then obviously government has a duty to mitigate what THEY have created. The money spent on Covid however ISN'T what caused the inflation we've all been suffering under for the last three years! The majority of that has been caused by Biden fiscal policy and his push for a Green New Deal!

Why am I a partisan to point out the same thing that Larry Summers...about as liberal an economist as there is...also pointed out?

 

[Harpy Eagle]

I'm not a fan of government subsidies, Harpy but when you force shut downs of the economy and people faced bankruptcies of their businesses and didn't have the money to pay rent or buy groceries then obviously government has a duty to mitigate what THEY have created. The money spent on Covid however ISN'T what caused the inflation we've all been suffering under for the last three years! The majority of that has been caused by Biden fiscal policy and his push for a Green New Deal!

Why am I a partisan to point out the same thing that Larry Summers...about as liberal an economist as there is...also pointed out?

You are partisan because you refuse to give your guy even a tiny amount of blame for inflation even though he gave away the money and asked for more to be given away than even the Dems wanted to.

Those checks being sent out to most citizens were put into the bank and spent once COVID was over, which lead to too many dollars chasing too few goods...which most people are smart enough to realize causes prices to soar.

Yes, Biden made it worse by his actions, but he alone is not to blame. But drones cannot grasp this simple fact

 

[Man With A Plan]

You are partisan because you refuse to give your guy even a tiny amount of blame for inflation even though he gave away the money and asked for more to be given away than even the Dems wanted to.

Those checks being sent out to most citizens were put into the bank and spent once COVID was over, which lead to too many dollars chasing too few goods...which most people are smart enough to realize causes prices to soar.

Yes, Biden made it worse by his actions, but he alone is not to blame. But drones cannot grasp this simple fact

Why do you think people didn't spend their Covid subsidies during Covid, Harpy? The number of people in America that basically live pay check to pay check (78%) make that claim laughable! Somehow you think those people put those checks in the bank and waited until Covid was over before they felt the need to spend it? Did that even make sense to you as you were posting it?

 

[Man With A Plan]

And even if what you said was true...which it isn't...then Biden's pumping Trillions into the system at the same time those people were all supposedly starting to spend their Covid "windfall" was even MORE moronic than I said it was!

 

[Markle]

Well, except for the fact most of the money just sat in bank accounts waiting for something to spend it on.

I agree that was bad, but that does not remove the impact of the COVID money.

To ignore that money is to just mark yourself as a partisan drone

As you know, the American Rescue Plan was in 2021.

 

[Harpy Eagle]

Why do you think people didn't spend their Covid subsidies during Covid, Harpy? The number of people in America that basically live pay check to pay check make that claim laughable! Somehow you think those people put those checks in the bank and waited until Covid was over before they felt the need to spend it? Did that even make sense to you as you were posting it?

As you know, the American Rescue Plan was in 2021.

Yep, Biden spent a shit ton. That does not remove how much Trump spent.

 

[Man With A Plan]

Yep, Biden spent a shit ton. That does not remove how much Trump spent.

Head shake...
Yes...we spent a bunch of money during Covid. Nobody is disputing that, Harpy but what other choice did we have if we made the call to shut down the economy?
My point...which you keep trying to ignore...is that Biden made the choice to go with his big "build back better" spending spree as we were coming out of the Covid lockdown which was when Larry Summers was warning that doing so was to risk rampant inflation! He didn't need to do that to pay people's bills who couldn't work. That part of the pandemic was over.

 

[Harpy Eagle]

Head shake...
Yes...we spent a bunch of money during Covid. Nobody is disputing that, Harpy but what other choice did we have if we made the call to shut down the economy?
My point...which you keep trying to ignore...is that Biden made the choice to go with his big "build back better" spending spree as we were coming out of the Covid lockdown which was when Larry Summers was warning that doing so was to risk rampant inflation! He didn't need to do that to pay people's bills who couldn't work. That part of the pandemic was over.

You and I do not disagree over what Biden did, it is your free pass to Trump that we will never agree on.

It is a waste of time to do this with a true believer like you.

Have a great night.

 

[sealybobo]

What is the source of every dollar a corporation pays in taxes? Isn't it true that the consumer has to provide every dollar paid in taxes by a corporation? Every dollar!

And every dollar in wages too. Still corporations need to pay wages and taxes even if you are right.

 

[Calypso Jones]

 

[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...

Trump is wrong, both on the numbers and on who oversaw more job gains. During Trump’s first 30 months, the number of nonfarm jobs rose by 5.2 million. But during Biden’s first 30 months, the number rose by a much larger 13.2 million.

Trump’s campaign justified his accounting by saying that Biden doesn’t deserve some 11 million jobs gained during the post-pandemic bounce back. But Trump’s method isn’t evenhanded, because it shifts all the employment damage from the pandemic to Biden while not acknowledging pandemic job losses under Trump.

Fact check: Did Trump or Biden create more jobs over 30 months?

Donald Trump, who is running for the 2024 Republican presidential nomination, took aim at President Joe Biden's record for job creation, arguing that Biden's achievements paled compared with his own.

www.wral.com

 

[Harry Dresden]

Trump is wrong, both on the numbers and on who oversaw more job gains. During Trump’s first 30 months, the number of nonfarm jobs rose by 5.2 million. But during Biden’s first 30 months, the number rose by a much larger 13.2 million.

Trump’s campaign justified his accounting by saying that Biden doesn’t deserve some 11 million jobs gained during the post-pandemic bounce back. But Trump’s method isn’t evenhanded, because it shifts all the employment damage from the pandemic to Biden while not acknowledging pandemic job losses under Trump.

Fact check: Did Trump or Biden create more jobs over 30 months?

Donald Trump, who is running for the 2024 Republican presidential nomination, took aim at President Joe Biden's record for job creation, arguing that Biden's achievements paled compared with his own.

www.wral.com

you have trumpitis bobo......congrats you have been sucked into his sphere.....now you are like all the rest of your fellow posters who cant stop talking about the guy....