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Biden’s economy
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Anonymous
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First class stamp increases....
2021 - 0.55 2022 - 0.60 2023 - 0.63 2023 - 0.66 JAN 2024 - 0.68 JUL 2024 - 0.73 (proposed) See a pattern here? |
Anonymous
Your conclusion doesn’t follow. You seem defensive. |
Anonymous
Actually, none of those things are what really contributed to the debt blowing up, because they all contributed to whatever GDP was still happening as Trump left office. No, the ballooning debt is due to the unfunded tax cuts for the 1%. You can look at any chart and see when it took effect after 2017. |
Anonymous
Who is the postmaster, who appointed him and in what year? See the problem? |
Anonymous
What contributed to the debt blowing up is you leftists inviting ten million poverty cases from Central and South America into the U.S. |
Anonymous
This is part of a 10-year plan under the direction of the postmaster appointed in 2020. What part of the pattern does that fit into? |
Anonymous
Yup. The common pattern is Louis DeJoy who was appointed by Trump. |
Anonymous
No, it isn't. |
Anonymous
+1 It’s April. Taxes are due. The federal government will collect $150B to $200B more than it spends this month. March is a big deficit month because people who get refunds file early, while people who owe wait until the deadline. Through March the FY24 federal deficit is almost $40B less than it was in FY23. Total revenues this FY are $140B higher. Spending is up $100B, more than half of the increase is in Social Security because of more retirees and COLA increases. |
Anonymous
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Global reserve currency status allows for amazing latitude in terms of monetary policy.
The Treasury Department understands that there is constant demand for dollars overseas as a means to more easily import and export goods. The petrodollar monopoly made the U.S. dollar essential for trading oil globally for decades. This means that the central bank of the U.S. has been able to create fiat currency from thin air to a far higher degree than any other central bank on the planet while avoiding the immediate effects of hyperinflation. Much of that cash as well as dollar-denominated debt ends up in the coffers of foreign central banks, international banks and investment firms. Sometimes it is held as a hedge, or bought and sold to adjust the exchange rates of local currencies. As much as 60% of all U.S. currency (and 25% of U.S. government debt) is owned outside the U.S. Global reserve currency status is what allowed the U.S. government and the Fed to create tens of trillions of dollars in new currency after the 2008 credit crash, all while keeping inflation more or less under control. The problem is that this system of stowing dollars overseas only lasts so long and eventually the effects of overprinting come home to roost. The Bretton-Woods Agreement of 1944 established the framework for the rise of the U.S. dollar. While the benefits are obvious, especially for the U.S., there are numerous costs involved. Think of world reserve status as a “deal with the devil.” You get the fame, you get the fortune, you get trophy dates and a sweet car – for a while. Then one day the devil comes to collect, and when he does he’s going to take everything, including your soul. Unfortunately, I suspect collection time is coming soon for the U.S. It may take the form of a brand-new Bretton Woods-like system that removes the dollar as global reserve currency and replaces it with a new digital basket system. (Something like the International Monetary Fund (IMF)’s Special Drawing Rights (SDR) currency.) Global banks are essentially admitting they plan for a complete overhaul of the dollar-based financial world, and the creation of a central bank digital currency (CBDC)-focused system built on “unified ledgers.” There have been three recent developments all announced in succession that suggest the dollar’s replacement is imminent. And by “imminent,” I mean before this decade is over. https://www.theburningplatform.com/2024/04/09/imf-prepares-financial-revolution-say-goodbye-to-the-dollar/ |
Anonymous
It is. “Delivering for America”. I see a pattern with respect to your posts. |
Anonymous
That is so delusional. You have no clue about the federal budget. |
Anonymous
Anonymous
Ahem. Oil and gas companies must pay more to drill on federal lands under new Biden administration rule https://apnews.com/article/oil-gas-drilling-public-lands-interior-climate-ffc88438d6f9c5d48e9a8fc7cffc749a |
Anonymous
Did you read the article? Are you saying this is a bad thing? |