Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am sure the GOP will start bombarding once they get their talking points as to why this is bad.

I actually was waiting for the Republican talking points garbage to be reposted from Twitter. It’s been longer than I thought, so perhaps the PP who said this is an ideal combination is correct.

Don't take silence as a victory. Sometimes people walk away because they're tired of trying to talk to you. That doesn't mean you've convinced them of anything. It means they're tired of wasting time on you.

Very believable, especially considering not an hour after your post the regular Republican talking points garbage from Twitter got posted here, so…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

American credit scores just hit an all time high of 718!

Consumers are in their best shape ever. Nobody could have imagined that Americans would be so much better off then they were just a few years ago. Making America great, thanks Biden! Highest even, they said it wasn’t possible but it happened!

Much of the average credit score increase over the past 6 or 7 years is due to updated credit scoring models no longer factoring medical collection debt into the score equation. Some consumers are indeed in the best shape ever but those in the middle to poor income/wealth tier have average household debt (mostly credit card debt) that has risen quickly over the past few years to alarming levels that have many economist concerned about a looming consumer debt crisis. Any credit or blame the current presidential administration receives for current economic conditions should be taken with a grain of salt. The good and bad of today's American economy can be attributed to many factors; most of which have little to do with policies of recent presidential administrations and more to do with variables that are beyond the control of a single administration. I'm not pointing this out to throw shade at Biden. It just is what it is.

It’s only medical debt under $500 that was removed from credit scores. And it was removed for good reason. It’s been in the news a lot the last few years of nonprofit hospitals trying to collect this debt even though most (over 80%) should have never been owed in the first place due to state laws for nonprofit hospitals. The media attention here worked and hospitals have finally started correcting their “mistakes”.

[Anonymous]

Anonymous wrote:150,000 jobs added.

This is the slowdown the Fed has been looking for, so possibly done with interest rate hikes. Best case scenario, they can begin to walk interest rates back down in 2024.

Note that 96k reported being out of work due to strike (mainly the auto workers). There will be some upside likely next month from this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

American credit scores just hit an all time high of 718!

Consumers are in their best shape ever. Nobody could have imagined that Americans would be so much better off then they were just a few years ago. Making America great, thanks Biden! Highest even, they said it wasn’t possible but it happened!

Much of the average credit score increase over the past 6 or 7 years is due to updated credit scoring models no longer factoring medical collection debt into the score equation. Some consumers are indeed in the best shape ever but those in the middle to poor income/wealth tier have average household debt (mostly credit card debt) that has risen quickly over the past few years to alarming levels that have many economist concerned about a looming consumer debt crisis. Any credit or blame the current presidential administration receives for current economic conditions should be taken with a grain of salt. The good and bad of today's American economy can be attributed to many factors; most of which have little to do with policies of recent presidential administrations and more to do with variables that are beyond the control of a single administration. I'm not pointing this out to throw shade at Biden. It just is what it is.

It’s only medical debt under $500 that was removed from credit scores. And it was removed for good reason. It’s been in the news a lot the last few years of nonprofit hospitals trying to collect this debt even though most (over 80%) should have never been owed in the first place due to state laws for nonprofit hospitals. The media attention here worked and hospitals have finally started correcting their “mistakes”.

Yes, removed for good reason as medical collections are not indicators of credit worthiness. We don't want people delaying or forgoing medical care due to concern for credit ramifications in the future. If we can fund multiple foreign wars at one time, we are able to provide basic healthcare for all Americans with no strings attached.

[Anonymous]

74% of all Americans are stressed about finances. - CNBC Your Money Financial Confidence Survey

[Anonymous]

The US ended the week with $33.7 trillion of federal debt and $211.2 trillion of unfunded liabilities, bringing the total amount owed to ~$245 trillion.

That’s approximately 55X tax revenues, or the equivalent of someone with a $100K salary and $5.5 million of debt.

Have a great weekend.

[Anonymous]

Anonymous wrote:The US ended the week with $33.7 trillion of federal debt and $211.2 trillion of unfunded liabilities, bringing the total amount owed to ~$245 trillion.

That’s approximately 55X tax revenues, or the equivalent of someone with a $100K salary and $5.5 million of debt.

Have a great weekend.

And the GOP solution is to cut the IRS and the revenue it generates.

Have a great weekend.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The US ended the week with $33.7 trillion of federal debt and $211.2 trillion of unfunded liabilities, bringing the total amount owed to ~$245 trillion.

That’s approximately 55X tax revenues, or the equivalent of someone with a $100K salary and $5.5 million of debt.

Have a great weekend.

And the GOP solution is to cut the IRS and the revenue it generates.

Have a great weekend.

GOP is braindead and completely unserious about the economy.

[Anonymous]

Bidenomics is working!

[Anonymous]

Anonymous wrote:Bidenomics is working!

Or is it just reverting back to trend?

[Anonymous]

Downtown San Francisco McDonald’s Shutters After Nearly 30 Years

https://sfstandard.com/2023/10/31/downtown-san-francisco-mcdonalds-closes/

Welp, there's the $20/hour minimum wage for fast food workers kicking in!

[Anonymous]

Anonymous wrote:Downtown San Francisco McDonald’s Shutters After Nearly 30 Years

https://sfstandard.com/2023/10/31/downtown-san-francisco-mcdonalds-closes/

Welp, there's the $20/hour minimum wage for fast food workers kicking in!

You realize mcdonalds are all going robots and AI, right?

https://www.freethink.com/robots-ai/automated-restaurant

[Anonymous]

Anonymous wrote:

Anonymous wrote:Downtown San Francisco McDonald’s Shutters After Nearly 30 Years

https://sfstandard.com/2023/10/31/downtown-san-francisco-mcdonalds-closes/

Welp, there's the $20/hour minimum wage for fast food workers kicking in!

You realize mcdonalds are all going robots and AI, right?

https://www.freethink.com/robots-ai/automated-restaurant

Why wouldn't they?

And Gavin Newsom apparently didn't get the message.

Now he's trying the same thing in the healthcare industry.

https://www.latimes.com/california/story/2023-11-04/healthcare-minimum-wage-expected-to-cost-4-billion-in-first-year-as-california-budget-deficit-looms#_=_

[Anonymous]

Anonymous wrote:Downtown San Francisco McDonald’s Shutters After Nearly 30 Years

https://sfstandard.com/2023/10/31/downtown-san-francisco-mcdonalds-closes/

Welp, there's the $20/hour minimum wage for fast food workers kicking in!

And a 60 year old one just closed in Kansas last Tuesday! I guess $7.25 also is a problem in Kansas, if only they could pay $0 I bet it would still be open.

Explain to me why this is news again? They open and close dozens of restaurants each year….many older than 30 years.

[Anonymous]

For those complaining the US economy is flailing. The fact is, the US has the best economy in the world right now. Yes, there are issues, but it could be soooooo much worse.