Biden’s economy

[Anonymous]

[Anonymous]

Biden Administration is following Rubin/Summers policy of subjugating the US working class by refusing to let wages rise, in order to support the US Treasury market.

Uncontrolled immigration depresses wages at the lower ends, maximizing corporate profit margins but keeping US working classes poor.

It's all fun and games until it creates political instability domestically.

lower wages means more spending power for the classes who consume more labor intensive services.

Drive to a wealthy neighborhood and you will see every home with gardeners, 4 guys building an addition, a pool guy, a cleaning lady, a mobile dog groomer, etc etc.

The bottom 90% don’t consume enough labor intensive services to benefit as significantly, if at all.

[Anonymous]

The US debt stampede is back: federal debt jumps by $70 billion in one day to a record $34.750 trillion, the biggest one day jump since February 2024

[Anonymous]

Anonymous wrote:The US debt stampede is back: federal debt jumps by $70 billion in one day to a record $34.750 trillion, the biggest one day jump since February 2024

But you didn't care about the 25% spike in the debt under the Trump Administration. Or the 25% bump under the Bush 43 administration. Only the dems, right?

[Anonymous]

Anonymous wrote:Biden Administration is following Rubin/Summers policy of subjugating the US working class by refusing to let wages rise, in order to support the US Treasury market.

Uncontrolled immigration depresses wages at the lower ends, maximizing corporate profit margins but keeping US working classes poor.

It's all fun and games until it creates political instability domestically.

lower wages means more spending power for the classes who consume more labor intensive services.

Drive to a wealthy neighborhood and you will see every home with gardeners, 4 guys building an addition, a pool guy, a cleaning lady, a mobile dog groomer, etc etc.

The bottom 90% don’t consume enough labor intensive services to benefit as significantly, if at all.

Wages are up significantly under Biden. Want to try again?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Per the St. Louis Fed, the economy has grown by approximately $1,76T since Biden took office, or a little over 8% in over three years. This is real growth that accounts for inflation. Per the US Treasury, the deficit has grown from $30.93T to 33.17T during that same time.

In short, the deficit has grown by $2.24T and the economy has grown by $1.76T. Of course, this is unsustainable, and the Democrats keep importing more takers than makers, so this imbalance will only accelerate in the near future. Biden's economy is built exclusively on debt. The truth is most voters, including here, aren't qualified to have a say in governance. Universal suffrage has been a terrible mistake.

No, Trump won't fix this either, but he will import fewer welfare beneficiaries, so that's a better choice.

The "makers" have grown exponentially under Biden with a path to restore what has been lost over the last 50 years. This has far exceeded the GOP in any capacity.

I agree that Biden wasn't the primary driver of inflation. Trump and the rest of the elected goons helicoptered money into the economy to "do something" about COVID. Biden would have done worse, of course.

However, that X post you cite doesn't contain any information but deflects by talking about inflation. I posted the real economic growth that accounted for inflation. I posted the growth in the deficit. Those are hard fact you are ignoring because Biden's economy is a disaster. Were you assertion about makers correct, the economy would be growing more than debt.

The effort to induce the "maker" investment, get facilities built or retrofitted and employees trained takes years. We are already starting to see progress, but it will be 3-4 more year before the real impact is felt.

Why would anyone who understands this think a president can snap their fingers and things just change in an instant? That isn't how any of this works.

The only thing Trump has to show for his 4 years in office is tax cuts for the 1%.

Biden is leaving improved infrastructure and improved domestic production - these are lasting benefits that shape an economy for decades.

Trump is bad on wasteful spending. I'm not defending that clown. However, the idea that this wasteful spending is an "investment" has no bearing in reason nor history. If you look at Obama's "stimulus" justification, you'd see a lot of claims that the growth derived from the stimulus would exceed its cost. Of course, that growth never materialized because government can't spend its way to prosperity lest you believe in an infinite money glitch.

In 3-4 years, you will support new wasteful spending. At no point will you look at the data that contradicts your fake beliefs. I know you will avoid evidence because you are careful not to cite it now.

[Anonymous]

Americans spent a massive $17 trillion on food in 2023, the most ever recorded in a single year. Since 2020, food at home and away-from-home expenditures have soared $5 trillion, or 35% as high inflation hit the country. At the same time, fast food prices have increased by 31%.

Over the last 10 years, most fast food price increases have exceeded inflation with prices at McDonalds, DOUBLING.

Meanwhile, 78% of US consumers view fast food as a luxury due to high prices. Food inflation is a major problem for most Americans.

[Anonymous]

America has plenty of money. Tax the billionaires and pay our bills.

[Anonymous]

Anonymous wrote:Americans spent a massive $17 trillion on food in 2023, the most ever recorded in a single year. Since 2020, food at home and away-from-home expenditures have soared $5 trillion, or 35% as high inflation hit the country. At the same time, fast food prices have increased by 31%.

Over the last 10 years, most fast food price increases have exceeded inflation with prices at McDonalds, DOUBLING.

Meanwhile, 78% of US consumers view fast food as a luxury due to high prices. Food inflation is a major problem for most Americans.

And those food producers, McDonalds and growers are all reaping record profits.

They are taking profits and the GOP is calling it inflation.

And you are falling for it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The US debt stampede is back: federal debt jumps by $70 billion in one day to a record $34.750 trillion, the biggest one day jump since February 2024

But you didn't care about the 25% spike in the debt under the Trump Administration. Or the 25% bump under the Bush 43 administration. Only the dems, right?

Most Republicans govern like lite-Dems and waste money at similar rates. The only group that wanted to stop the wasteful spending was illegally and immorally targeted by Lois Lerner and her IRS goons.

A tax cut isn't wasteful spending if it is balanced with spending cuts. But that isn't what the GOP has done the last 25 years. No, they like to cut taxes but not make any hard decisions around spending cuts so simply blow up the debt and deficit spending.

Bill Clinton left a spending surplus.
W cratered it.
Trump cratered it more.

When the Dems spend money, it is via investment into the infrastructure and lives of the American public. So in whole, there is generally a net benefit. Kids school breakfasts, child tax credits, job training and education - these are all things that make it so people can have better lives and pass on wealth to their kids and try to break the cycle of poverty.

The GOP would just rather people die of starvation or lack of healthcare.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The US debt stampede is back: federal debt jumps by $70 billion in one day to a record $34.750 trillion, the biggest one day jump since February 2024

But you didn't care about the 25% spike in the debt under the Trump Administration. Or the 25% bump under the Bush 43 administration. Only the dems, right?

Most Republicans govern like lite-Dems and waste money at similar rates. The only group that wanted to stop the wasteful spending was illegally and immorally targeted by Lois Lerner and her IRS goons.

A tax cut isn't wasteful spending if it is balanced with spending cuts. But that isn't what the GOP has done the last 25 years. No, they like to cut taxes but not make any hard decisions around spending cuts so simply blow up the debt and deficit spending.

Bill Clinton left a spending surplus.
W cratered it.
Trump cratered it more.

When the Dems spend money, it is via investment into the infrastructure and lives of the American public. So in whole, there is generally a net benefit. Kids school breakfasts, child tax credits, job training and education - these are all things that make it so people can have better lives and pass on wealth to their kids and try to break the cycle of poverty.

The GOP would just rather people die of starvation or lack of healthcare.

LOL. Yeah, sure.
Remember those "shovel ready jobs" that weren't so shovel ready. Or the Solyndra debacle.

And, we now have a whopping 8 charging stations with that $7.5 billion Biden wanted.
https://www.autoweek.com/news/a60702457/federal-funds-yield-only-8-ev-charging-stations/

Then there is the student loan "forgiveness" (that is not forgiveness at all - at least not to the American taxpayers) that has ballooned the debt and deficit.

I could go on and on and on.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The US debt stampede is back: federal debt jumps by $70 billion in one day to a record $34.750 trillion, the biggest one day jump since February 2024

But you didn't care about the 25% spike in the debt under the Trump Administration. Or the 25% bump under the Bush 43 administration. Only the dems, right?

Most Republicans govern like lite-Dems and waste money at similar rates. The only group that wanted to stop the wasteful spending was illegally and immorally targeted by Lois Lerner and her IRS goons.

A tax cut isn't wasteful spending if it is balanced with spending cuts. But that isn't what the GOP has done the last 25 years. No, they like to cut taxes but not make any hard decisions around spending cuts so simply blow up the debt and deficit spending.

Bill Clinton left a spending surplus.
W cratered it.
Trump cratered it more.

When the Dems spend money, it is via investment into the infrastructure and lives of the American public. So in whole, there is generally a net benefit. Kids school breakfasts, child tax credits, job training and education - these are all things that make it so people can have better lives and pass on wealth to their kids and try to break the cycle of poverty.

The GOP would just rather people die of starvation or lack of healthcare.

LOL. Yeah, sure.
Remember those "shovel ready jobs" that weren't so shovel ready. Or the Solyndra debacle.

And, we now have a whopping 8 charging stations with that $7.5 billion Biden wanted.
https://www.autoweek.com/news/a60702457/federal-funds-yield-only-8-ev-charging-stations/

Then there is the student loan "forgiveness" (that is not forgiveness at all - at least not to the American taxpayers) that has ballooned the debt and deficit.

I could go on and on and on.

There will be more than 8 charging stations. It doesn't happen overnight.

No one will dispute Solyrna. What about all of the banks bailouts and GM/Chrysler bailouts? If you are going to criticize one, then criticize them all.

The student loan forgiveness actually is good for the GDP as that money is pumped back into buying goods and services. Plus, they aren't forigiving all loans, just the ones where the principal was long since paid back already.

[Anonymous]

11:45 is such a bad faith response - cherry picked anecdata which isn't even accurately represented.

[Anonymous]

Even if it's self serving, still true

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The US debt stampede is back: federal debt jumps by $70 billion in one day to a record $34.750 trillion, the biggest one day jump since February 2024

But you didn't care about the 25% spike in the debt under the Trump Administration. Or the 25% bump under the Bush 43 administration. Only the dems, right?

Most Republicans govern like lite-Dems and waste money at similar rates. The only group that wanted to stop the wasteful spending was illegally and immorally targeted by Lois Lerner and her IRS goons.

A tax cut isn't wasteful spending if it is balanced with spending cuts. But that isn't what the GOP has done the last 25 years. No, they like to cut taxes but not make any hard decisions around spending cuts so simply blow up the debt and deficit spending.

Bill Clinton left a spending surplus.
W cratered it.
Trump cratered it more.

When the Dems spend money, it is via investment into the infrastructure and lives of the American public. So in whole, there is generally a net benefit. Kids school breakfasts, child tax credits, job training and education - these are all things that make it so people can have better lives and pass on wealth to their kids and try to break the cycle of poverty.

The GOP would just rather people die of starvation or lack of healthcare.

Only because the social security funds (previously a separate account) was folded into the US government budget.