Biden’s economy

[Anonymous]

Deficit by year:

2009: 1.4T
2010: 1.3T
2011: 1.3T
2012: 1.1T
2013: 680B
2014: 485B
2015: 442B
2016: 585B
2017: 665B
2018: 779B
2019: 984B
2020: 3.1T
2021: 2.8T
2022: 1.0T (projection)

[Anonymous]

Anonymous wrote:Deficit by year:

2009: 1.4T
2010: 1.3T
2011: 1.3T
2012: 1.1T
2013: 680B
2014: 485B
2015: 442B
2016: 585B
2017: 665B
2018: 779B
2019: 984B
2020: 3.1T
2021: 2.8T
2022: 1.0T (projection)

It's clear 2020 and 2021 were high due to temporary covid related spending so Biden tooting his horn about deficit reduction is a bit dishonest IMO now that such spending is largely over. Now, the 2022 deficit is going to end up closer to 1.5T. The following article is pretty clear that it's higher than the 1.0T originally expected due to Biden's policy changes.

https://edition.cnn.com/2022/05/09/politics/fact-check-biden-deficit-reduction/index.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

And nary a peep from the resident America haters who gleefully cheer every bit of bad news because they think it'll improve their odds in November. Thanks, Brandon! It's a relief to see serious adults continuing to clean up Trump's mess.

When I paid 4.99/gallon for gas this weekend, i didn't need to see a chart, hear from news media sources, or cheer for anyone. I'm sure I'm not alone in feeling the effects of Biden's policies on my finances.

Which Biden policies exactly? Don't say Keystone, because that's irrelevant to gas prices today, if it would ever be relevant. And do explain how Biden policies have raised the price of oil and the price of gas worldwide.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

And nary a peep from the resident America haters who gleefully cheer every bit of bad news because they think it'll improve their odds in November. Thanks, Brandon! It's a relief to see serious adults continuing to clean up Trump's mess.

When I paid 4.99/gallon for gas this weekend, i didn't need to see a chart, hear from news media sources, or cheer for anyone. I'm sure I'm not alone in feeling the effects of Biden's policies on my finances.

Which Biden policies exactly? Don't say Keystone, because that's irrelevant to gas prices today, if it would ever be relevant. And do explain how Biden policies have raised the price of oil and the price of gas worldwide.

DP.
Anyone who tries to advance the idea that Biden does not bear responsibility for much of the inflation today is flat out lying. His "American Rescue Plan" did quite the opposite. It did nothing to rescue America but instead pumped unneeded aid into the economy that caused inflation to get worse.
And, he promised - repeatedly - on the campaign trail to get rid of fossil fuels. All the EO's he signed his first days in office led to a reduction in production of oil and gas and sent the message to oil companies that this administration would not be friendly to the industry, thus causing them to invest less in production and refining.

And, then, instead of looking to increase drilling, this administration cancels drilling leases.

And, when asked about it during a hearing last week, Haaland had no real response.

[Anonymous]

econom yis strong

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

And nary a peep from the resident America haters who gleefully cheer every bit of bad news because they think it'll improve their odds in November. Thanks, Brandon! It's a relief to see serious adults continuing to clean up Trump's mess.

When I paid 4.99/gallon for gas this weekend, i didn't need to see a chart, hear from news media sources, or cheer for anyone. I'm sure I'm not alone in feeling the effects of Biden's policies on my finances.

Which Biden policies exactly? Don't say Keystone, because that's irrelevant to gas prices today, if it would ever be relevant. And do explain how Biden policies have raised the price of oil and the price of gas worldwide.

DP.
Anyone who tries to advance the idea that Biden does not bear responsibility for much of the inflation today is flat out lying. His "American Rescue Plan" did quite the opposite. It did nothing to rescue America but instead pumped unneeded aid into the economy that caused inflation to get worse.
And, he promised - repeatedly - on the campaign trail to get rid of fossil fuels. All the EO's he signed his first days in office led to a reduction in production of oil and gas and sent the message to oil companies that this administration would not be friendly to the industry, thus causing them to invest less in production and refining.

And, then, instead of looking to increase drilling, this administration cancels drilling leases.

And, when asked about it during a hearing last week, Haaland had no real response.

Leases that aren't being used. Meanwhile, US oil production remains at historic highs. Higher now than under Bushes, Reagan, and much of Trump's own term.

[Anonymous]

Anonymous wrote:econom yis strong

LOL.
You are either #clueless or a partisan hack.

The Numbers Don’t Lie: The US Economy Is in Trouble

This week’s economic data leave little doubt that we are in an economic mess. It now turns out that following rapid economic growth last year, the economy is slowing abruptly. In the first quarter of this year output actually declined by 1.5 percent, while Goldman Sachs is now anticipating economic growth of only 2 ½ percent in the second quarter. Meanwhile, inflation continues to rage at a forty-year high, mortgage interest rates have increased at the fastest rate since 1994, and the stock market has declined by around 20 percent since the start of the year.

According to both the Biden Administration and the Federal Reserve, today’s inflation and now today’s slowing economy has nothing to do with economic policy. Rather, they claim that it has everything to do with the Covid-19 pandemic and with Russia’s invasion of Ukraine.

In their view of the world, the Covid pandemic disrupted the global supply chain, interfered with world shipping, caused people to drop out of the labor force, and shifted demand away from services to goods. Meanwhile Russia’s invasion of Ukraine this year has sent oil and food prices through the roof.

To be sure, the pandemic and Russia’s Ukrainian invasion are partly responsible for today’s rapid inflation. However, it is highly doubtful that those factors would have led to the economic overheating and the wage pressures that are so much in evidence today. Nor would they have led to today’s pervasiveness of inflation to all sectors of the economy or to inflation’s persistence at levels reminiscent of the early 1980s.
Rather the real culprit in today’s unacceptably high inflation rate is to be found in last year’s extraordinarily loose stance of both monetary and fiscal policy.

It might be recalled that in March 2021, former Treasury Secretary Larry Summers warned that President Biden’s American Rescue Plan would inevitably lead to economic heating. He did so on the grounds that coming on top of 2020’s $3 trillion bipartisan budget policy response to the pandemic, the $1.9 trillion Biden stimulus would mean that in the space of two years the US economy would be receiving budget stimulus totaling almost $5 trillion or around 20 percent of GDP. That represented by far the country’s largest peacetime budget stimulus on record.

https://www.aei.org/op-eds/the-numbers-dont-lie-the-us-economy-is-in-trouble/

[Anonymous]

Anonymous wrote:econom yis strong

This comment is representative of the intelligence of three average Biden evangelist. I believe that they’re roughly 10 of them at this point.

[Anonymous]

I’m a firm believer that the economy is still strong for the average person. My friend/family group seems to be doing really well. Nobody is unemployed, which is almost never the case, and around half of us have upgraded their jobs. It’s a group of about 75 ranging from mostly working class to UMC. I just got a new job with a 30% increase, which is crazy, but even crazier I know a bunch of people that have done the same which never used to happen!

There is $$ out there, go get a piece!

[Anonymous]

Anonymous wrote:

Anonymous wrote:econom yis strong

LOL.
You are either #clueless or a partisan hack.

The Numbers Don’t Lie: The US Economy Is in Trouble

This week’s economic data leave little doubt that we are in an economic mess. It now turns out that following rapid economic growth last year, the economy is slowing abruptly. In the first quarter of this year output actually declined by 1.5 percent, while Goldman Sachs is now anticipating economic growth of only 2 ½ percent in the second quarter. Meanwhile, inflation continues to rage at a forty-year high, mortgage interest rates have increased at the fastest rate since 1994, and the stock market has declined by around 20 percent since the start of the year.

According to both the Biden Administration and the Federal Reserve, today’s inflation and now today’s slowing economy has nothing to do with economic policy. Rather, they claim that it has everything to do with the Covid-19 pandemic and with Russia’s invasion of Ukraine.

In their view of the world, the Covid pandemic disrupted the global supply chain, interfered with world shipping, caused people to drop out of the labor force, and shifted demand away from services to goods. Meanwhile Russia’s invasion of Ukraine this year has sent oil and food prices through the roof.

To be sure, the pandemic and Russia’s Ukrainian invasion are partly responsible for today’s rapid inflation. However, it is highly doubtful that those factors would have led to the economic overheating and the wage pressures that are so much in evidence today. Nor would they have led to today’s pervasiveness of inflation to all sectors of the economy or to inflation’s persistence at levels reminiscent of the early 1980s.
Rather the real culprit in today’s unacceptably high inflation rate is to be found in last year’s extraordinarily loose stance of both monetary and fiscal policy.

It might be recalled that in March 2021, former Treasury Secretary Larry Summers warned that President Biden’s American Rescue Plan would inevitably lead to economic heating. He did so on the grounds that coming on top of 2020’s $3 trillion bipartisan budget policy response to the pandemic, the $1.9 trillion Biden stimulus would mean that in the space of two years the US economy would be receiving budget stimulus totaling almost $5 trillion or around 20 percent of GDP. That represented by far the country’s largest peacetime budget stimulus on record.

https://www.aei.org/op-eds/the-numbers-dont-lie-the-us-economy-is-in-trouble/

AEI = right wing hacks

[Anonymous]

Anonymous wrote:I’m a firm believer that the economy is still strong for the average person. My friend/family group seems to be doing really well. Nobody is unemployed, which is almost never the case, and around half of us have upgraded their jobs. It’s a group of about 75 ranging from mostly working class to UMC. I just got a new job with a 30% increase, which is crazy, but even crazier I know a bunch of people that have done the same which never used to happen!

There is $$ out there, go get a piece!

There is money out there, yes. But it’s a classic fallacy to extrapolate out too much from a friend group’s experience.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:econom yis strong

LOL.
You are either #clueless or a partisan hack.

The Numbers Don’t Lie: The US Economy Is in Trouble

This week’s economic data leave little doubt that we are in an economic mess. It now turns out that following rapid economic growth last year, the economy is slowing abruptly. In the first quarter of this year output actually declined by 1.5 percent, while Goldman Sachs is now anticipating economic growth of only 2 ½ percent in the second quarter. Meanwhile, inflation continues to rage at a forty-year high, mortgage interest rates have increased at the fastest rate since 1994, and the stock market has declined by around 20 percent since the start of the year.

According to both the Biden Administration and the Federal Reserve, today’s inflation and now today’s slowing economy has nothing to do with economic policy. Rather, they claim that it has everything to do with the Covid-19 pandemic and with Russia’s invasion of Ukraine.

In their view of the world, the Covid pandemic disrupted the global supply chain, interfered with world shipping, caused people to drop out of the labor force, and shifted demand away from services to goods. Meanwhile Russia’s invasion of Ukraine this year has sent oil and food prices through the roof.

To be sure, the pandemic and Russia’s Ukrainian invasion are partly responsible for today’s rapid inflation. However, it is highly doubtful that those factors would have led to the economic overheating and the wage pressures that are so much in evidence today. Nor would they have led to today’s pervasiveness of inflation to all sectors of the economy or to inflation’s persistence at levels reminiscent of the early 1980s.
Rather the real culprit in today’s unacceptably high inflation rate is to be found in last year’s extraordinarily loose stance of both monetary and fiscal policy.

It might be recalled that in March 2021, former Treasury Secretary Larry Summers warned that President Biden’s American Rescue Plan would inevitably lead to economic heating. He did so on the grounds that coming on top of 2020’s $3 trillion bipartisan budget policy response to the pandemic, the $1.9 trillion Biden stimulus would mean that in the space of two years the US economy would be receiving budget stimulus totaling almost $5 trillion or around 20 percent of GDP. That represented by far the country’s largest peacetime budget stimulus on record.

https://www.aei.org/op-eds/the-numbers-dont-lie-the-us-economy-is-in-trouble/

AEI = right wing hacks

Center-right.

[Anonymous]

Meanwhile in Germany, inflation print today is the highest in 60 years. Allianz anticipates it will get worse... hmmm.

[Anonymous]

Anonymous wrote:I’m a firm believer that the economy is still strong for the average person. My friend/family group seems to be doing really well. Nobody is unemployed, which is almost never the case, and around half of us have upgraded their jobs. It’s a group of about 75 ranging from mostly working class to UMC. I just got a new job with a 30% increase, which is crazy, but even crazier I know a bunch of people that have done the same which never used to happen!

There is $$ out there, go get a piece!

Similar to what I see, literally no one is unemployed. Most seem to be spending more as well, upgrading houses or cars, although they do complain about gas prices. The news says bad, and maybe it will happen, but right now today things look pretty good on an individual levels. Personally I got a big promotion and my wife got a nice pay bump, friends seem to be doing well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:econom yis strong

LOL.
You are either #clueless or a partisan hack.

The Numbers Don’t Lie: The US Economy Is in Trouble

This week’s economic data leave little doubt that we are in an economic mess. It now turns out that following rapid economic growth last year, the economy is slowing abruptly. In the first quarter of this year output actually declined by 1.5 percent, while Goldman Sachs is now anticipating economic growth of only 2 ½ percent in the second quarter. Meanwhile, inflation continues to rage at a forty-year high, mortgage interest rates have increased at the fastest rate since 1994, and the stock market has declined by around 20 percent since the start of the year.

According to both the Biden Administration and the Federal Reserve, today’s inflation and now today’s slowing economy has nothing to do with economic policy. Rather, they claim that it has everything to do with the Covid-19 pandemic and with Russia’s invasion of Ukraine.

In their view of the world, the Covid pandemic disrupted the global supply chain, interfered with world shipping, caused people to drop out of the labor force, and shifted demand away from services to goods. Meanwhile Russia’s invasion of Ukraine this year has sent oil and food prices through the roof.

To be sure, the pandemic and Russia’s Ukrainian invasion are partly responsible for today’s rapid inflation. However, it is highly doubtful that those factors would have led to the economic overheating and the wage pressures that are so much in evidence today. Nor would they have led to today’s pervasiveness of inflation to all sectors of the economy or to inflation’s persistence at levels reminiscent of the early 1980s.
Rather the real culprit in today’s unacceptably high inflation rate is to be found in last year’s extraordinarily loose stance of both monetary and fiscal policy.

It might be recalled that in March 2021, former Treasury Secretary Larry Summers warned that President Biden’s American Rescue Plan would inevitably lead to economic heating. He did so on the grounds that coming on top of 2020’s $3 trillion bipartisan budget policy response to the pandemic, the $1.9 trillion Biden stimulus would mean that in the space of two years the US economy would be receiving budget stimulus totaling almost $5 trillion or around 20 percent of GDP. That represented by far the country’s largest peacetime budget stimulus on record.

https://www.aei.org/op-eds/the-numbers-dont-lie-the-us-economy-is-in-trouble/

AEI = right wing hacks

Center-right.

Only because America has fallen very right. AEI has always been very, very right.