Biden’s economy

[Anonymous]

Anonymous wrote:US Jobless Claims Rise to Highest in 9 Months, Led by California

- New applications rose to 242,000 last week, more than expected
- Four-week moving average climbed to highest since September

https://www.bloomberg.com/news/articles/2024-06-13/us-jobless-claims-rise-to-highest-in-9-months-led-by-california?sref=Fbhig0fX

This is just more info for the fed to reduce rates.

[Anonymous]

The California Business and Industrial Alliance (CABIA) slammed Democratic Gov. Gavin Newsom for pushing through the law, which went into effect April 1 – and was blamed for forcing one beloved taco chain to shutter 48 locations in the state last week.

https://www.foxbaltimore.com/station/share/calif-fast-food-joints-slashed-10k-jobs-after-newsom-hiked-minimum-wage-think-tank-says-mcdonalds-hoover-institution-stanford-university-california-business-and-industrial-alliance-gavin-governor-democratic-wages-prices-costs


How is that minimum wage hike working out? I don't mean on paper... I mean in real life.

[Anonymous]

What’s happening with the labor market? The difference between full-time and part-time job growth has been deeply negative for the last 6 months. Over the last 50 years, such a divergence has only occurred in recessions.

In May 2024 alone, full-time vacancies contracted by 1.16 million year-over-year while part-time jobs grew by 1.51 million.

Additionally, 1 MILLION Americans have become unemployed in the past 6 months, according to the BLS household survey.

Meanwhile, the unemployment rate jumped to 4.0%, from 3.4% in April 2023, the largest increase since the 2020 pandemic.

Is the US job market slowing down?

[Anonymous]

Anonymous wrote:The California Business and Industrial Alliance (CABIA) slammed Democratic Gov. Gavin Newsom for pushing through the law, which went into effect April 1 – and was blamed for forcing one beloved taco chain to shutter 48 locations in the state last week.

https://www.foxbaltimore.com/station/share/calif-fast-food-joints-slashed-10k-jobs-after-newsom-hiked-minimum-wage-think-tank-says-mcdonalds-hoover-institution-stanford-university-california-business-and-industrial-alliance-gavin-governor-democratic-wages-prices-costs


How is that minimum wage hike working out? I don't mean on paper... I mean in real life.

Their food is awful. It should have closed a long time ago.

[Anonymous]

Anonymous wrote:What’s happening with the labor market? The difference between full-time and part-time job growth has been deeply negative for the last 6 months. Over the last 50 years, such a divergence has only occurred in recessions.

In May 2024 alone, full-time vacancies contracted by 1.16 million year-over-year while part-time jobs grew by 1.51 million.

Additionally, 1 MILLION Americans have become unemployed in the past 6 months, according to the BLS household survey.

Meanwhile, the unemployment rate jumped to 4.0%, from 3.4% in April 2023, the largest increase since the 2020 pandemic.

Is the US job market slowing down?

The phenomenon has been going on since the W administration when rules were changed around benefits for full time employees. Corporations have rushed to respond and the little guy gets the shaft. This isn't a Biden thing.

[Anonymous]

‘Unsustainable;’ Reports show U.S. middle class is getting smaller, poverty line on the rise
By WHIO Staff | June 07, 2024

The U.S. middle class is getting smaller and the number of Americans falling toward poverty is on the rise.

As reported on News Center 7 at 5:30, more and more people are falling toward poverty as prices rise.

“Most people have seen their wages go up a little and go up over time, but they’re not enough to compensate for the higher prices,” Dr. Michael Walden, an Economist at North Carolina State University said.

According to a recent report from the Pew Research Center, in 1971, 61% of the nation was middle class. As of 2023, that number has dropped to 51%.

Continues: https://www.whio.com/news/local/unsustainable-reports-show-us-middle-class-is-getting-smaller-poverty-line-rise/J2A2DSZRZJHSHHRVLJWPFIJX74/

[Anonymous]

Anonymous wrote:‘Unsustainable;’ Reports show U.S. middle class is getting smaller, poverty line on the rise
By WHIO Staff | June 07, 2024

The U.S. middle class is getting smaller and the number of Americans falling toward poverty is on the rise.

As reported on News Center 7 at 5:30, more and more people are falling toward poverty as prices rise.

“Most people have seen their wages go up a little and go up over time, but they’re not enough to compensate for the higher prices,” Dr. Michael Walden, an Economist at North Carolina State University said.

According to a recent report from the Pew Research Center, in 1971, 61% of the nation was middle class. As of 2023, that number has dropped to 51%.

Continues: https://www.whio.com/news/local/unsustainable-reports-show-us-middle-class-is-getting-smaller-poverty-line-rise/J2A2DSZRZJHSHHRVLJWPFIJX74/

What is the GOP plan?

Change the tax code to a user VAT tax which hist lower and middle classes disproportionately. Continue tax cuts for businesses and the wealthy.

How does that not continue to exacerbate the problem?

At least the democrats are trying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:‘Unsustainable;’ Reports show U.S. middle class is getting smaller, poverty line on the rise
By WHIO Staff | June 07, 2024

The U.S. middle class is getting smaller and the number of Americans falling toward poverty is on the rise.

As reported on News Center 7 at 5:30, more and more people are falling toward poverty as prices rise.

“Most people have seen their wages go up a little and go up over time, but they’re not enough to compensate for the higher prices,” Dr. Michael Walden, an Economist at North Carolina State University said.

According to a recent report from the Pew Research Center, in 1971, 61% of the nation was middle class. As of 2023, that number has dropped to 51%.

Continues: https://www.whio.com/news/local/unsustainable-reports-show-us-middle-class-is-getting-smaller-poverty-line-rise/J2A2DSZRZJHSHHRVLJWPFIJX74/

What is the GOP plan?

Change the tax code to a user VAT tax which hist lower and middle classes disproportionately. Continue tax cuts for businesses and the wealthy.

How does that not continue to exacerbate the problem?

At least the democrats are trying.

To do what? Turn everything on its head and destroy everything that exists?

Uhhh, no. I've had enough of "at least".

[Anonymous]

Anonymous wrote:The California Business and Industrial Alliance (CABIA) slammed Democratic Gov. Gavin Newsom for pushing through the law, which went into effect April 1 – and was blamed for forcing one beloved taco chain to shutter 48 locations in the state last week.

https://www.foxbaltimore.com/station/share/calif-fast-food-joints-slashed-10k-jobs-after-newsom-hiked-minimum-wage-think-tank-says-mcdonalds-hoover-institution-stanford-university-california-business-and-industrial-alliance-gavin-governor-democratic-wages-prices-costs


How is that minimum wage hike working out? I don't mean on paper... I mean in real life.

Blamed by the Hoover Institute. How would Hoover have handled the economy post pandemic?

[Anonymous]

Anonymous wrote:

Anonymous wrote:‘Unsustainable;’ Reports show U.S. middle class is getting smaller, poverty line on the rise
By WHIO Staff | June 07, 2024

The U.S. middle class is getting smaller and the number of Americans falling toward poverty is on the rise.

As reported on News Center 7 at 5:30, more and more people are falling toward poverty as prices rise.

“Most people have seen their wages go up a little and go up over time, but they’re not enough to compensate for the higher prices,” Dr. Michael Walden, an Economist at North Carolina State University said.

According to a recent report from the Pew Research Center, in 1971, 61% of the nation was middle class. As of 2023, that number has dropped to 51%.

Continues: https://www.whio.com/news/local/unsustainable-reports-show-us-middle-class-is-getting-smaller-poverty-line-rise/J2A2DSZRZJHSHHRVLJWPFIJX74/

What is the GOP plan?

Change the tax code to a user VAT tax which hist lower and middle classes disproportionately. Continue tax cuts for businesses and the wealthy.

How does that not continue to exacerbate the problem?

At least the democrats are trying.

Trump told the House GOP today that he wants to replace income taxes with tariffs on imports.

[Anonymous]

Anonymous wrote:

Anonymous wrote:‘Unsustainable;’ Reports show U.S. middle class is getting smaller, poverty line on the rise
By WHIO Staff | June 07, 2024

The U.S. middle class is getting smaller and the number of Americans falling toward poverty is on the rise.

As reported on News Center 7 at 5:30, more and more people are falling toward poverty as prices rise.

“Most people have seen their wages go up a little and go up over time, but they’re not enough to compensate for the higher prices,” Dr. Michael Walden, an Economist at North Carolina State University said.

According to a recent report from the Pew Research Center, in 1971, 61% of the nation was middle class. As of 2023, that number has dropped to 51%.

Continues: https://www.whio.com/news/local/unsustainable-reports-show-us-middle-class-is-getting-smaller-poverty-line-rise/J2A2DSZRZJHSHHRVLJWPFIJX74/

What is the GOP plan?

Change the tax code to a user VAT tax which hist lower and middle classes disproportionately. Continue tax cuts for businesses and the wealthy.

How does that not continue to exacerbate the problem?

At least the democrats are trying.

Well their trying hasn't done much good, has it?

That said, Trump's idea to get rid of income tax is idiotic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:‘Unsustainable;’ Reports show U.S. middle class is getting smaller, poverty line on the rise
By WHIO Staff | June 07, 2024

The U.S. middle class is getting smaller and the number of Americans falling toward poverty is on the rise.

As reported on News Center 7 at 5:30, more and more people are falling toward poverty as prices rise.

“Most people have seen their wages go up a little and go up over time, but they’re not enough to compensate for the higher prices,” Dr. Michael Walden, an Economist at North Carolina State University said.

According to a recent report from the Pew Research Center, in 1971, 61% of the nation was middle class. As of 2023, that number has dropped to 51%.

Continues: https://www.whio.com/news/local/unsustainable-reports-show-us-middle-class-is-getting-smaller-poverty-line-rise/J2A2DSZRZJHSHHRVLJWPFIJX74/

What is the GOP plan?

Change the tax code to a user VAT tax which hist lower and middle classes disproportionately. Continue tax cuts for businesses and the wealthy.

How does that not continue to exacerbate the problem?

At least the democrats are trying.

Well their trying hasn't done much good, has it?

That said, Trump's idea to get rid of income tax is idiotic.

It's not even an idea. It's just another example of something stupid he says that gets walked back later.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:‘Unsustainable;’ Reports show U.S. middle class is getting smaller, poverty line on the rise
By WHIO Staff | June 07, 2024

The U.S. middle class is getting smaller and the number of Americans falling toward poverty is on the rise.

As reported on News Center 7 at 5:30, more and more people are falling toward poverty as prices rise.

“Most people have seen their wages go up a little and go up over time, but they’re not enough to compensate for the higher prices,” Dr. Michael Walden, an Economist at North Carolina State University said.

According to a recent report from the Pew Research Center, in 1971, 61% of the nation was middle class. As of 2023, that number has dropped to 51%.

Continues: https://www.whio.com/news/local/unsustainable-reports-show-us-middle-class-is-getting-smaller-poverty-line-rise/J2A2DSZRZJHSHHRVLJWPFIJX74/

What is the GOP plan?

Change the tax code to a user VAT tax which hist lower and middle classes disproportionately. Continue tax cuts for businesses and the wealthy.

How does that not continue to exacerbate the problem?

At least the democrats are trying.

Trump told the House GOP today that he wants to replace income taxes with tariffs on imports.

That’ll tame inflation and the deficit /s

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:‘Unsustainable;’ Reports show U.S. middle class is getting smaller, poverty line on the rise
By WHIO Staff | June 07, 2024

The U.S. middle class is getting smaller and the number of Americans falling toward poverty is on the rise.

As reported on News Center 7 at 5:30, more and more people are falling toward poverty as prices rise.

“Most people have seen their wages go up a little and go up over time, but they’re not enough to compensate for the higher prices,” Dr. Michael Walden, an Economist at North Carolina State University said.

According to a recent report from the Pew Research Center, in 1971, 61% of the nation was middle class. As of 2023, that number has dropped to 51%.

Continues: https://www.whio.com/news/local/unsustainable-reports-show-us-middle-class-is-getting-smaller-poverty-line-rise/J2A2DSZRZJHSHHRVLJWPFIJX74/

What is the GOP plan?

Change the tax code to a user VAT tax which hist lower and middle classes disproportionately. Continue tax cuts for businesses and the wealthy.

How does that not continue to exacerbate the problem?

At least the democrats are trying.

Trump told the House GOP today that he wants to replace income taxes with tariffs on imports.

That’ll tame inflation and the deficit /s

And will disincentivize bringing back American manufacturing. MAGA!

[Anonymous]

This week in Bidenomics: Signs of a slowdown

https://finance.yahoo.com/news/this-week-in-bidenomics-signs-of-a-slowdown-162304892.html