Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:Unemployment remains at 4.1%

12,000 versus 100,000 expected, but this is mostly due to Boeing strike and hurricanes.

Wages are as expected.

Jobs were lost without including creation of government jobs. The economy is crashing. If Kamala wins, she will continue Biden’s polices and completely tank the economy.

Gaslighting is only effective if it’s not galactically stupid. Unfortunately for you, your post qualifies as such.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:And what specific policies has Trump proposed to deal with it?

tariffs and deporting immigrant workers will only make things worse. How will he make things better?

The country became the wealthiest in the world with a tariff-based system of taxation. Deporting illegal aliens will reduce the deficit and inflation. It's the only move if you want to save American civilization.

You are both racist and nuts. Ever hear of the Great Depression?

What's your point about the Great Depression? Go back and look at the economic data and you'll see economic growth was quite high for most of it. FDR's bad policies hurt employment and wages.

the tariffs were the worst part - those were not FDR

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Unemployment remains at 4.1%

12,000 versus 100,000 expected, but this is mostly due to Boeing strike and hurricanes.

Wages are as expected.

Jobs were lost without including creation of government jobs. The economy is crashing. If Kamala wins, she will continue Biden’s polices and completely tank the economy.

You and Donald are the only to people on the planet who believes the US economy is "crashing"

there is literally no evidence where the US economy isn't the "envy of the world" and riding record metrics in every category.

Look at the math. The US economic is $29T. Let's say growth for 2024 is 3%, which is quite generous. That means the economy would be projected to grow by less than $1T.

Do you know what deficit spending will be for 2024? About $1.8T. So the economy is growing less than the debt. Is the economy crashing today or tomorrow? No. However, this trend cannot continue indefinitely. The longer it persists, the uglier the crash will be.

Adults should be in charge of spending. Unfortunately, both parties like to elect children.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Unemployment remains at 4.1%

12,000 versus 100,000 expected, but this is mostly due to Boeing strike and hurricanes.

Wages are as expected.

Jobs were lost without including creation of government jobs. The economy is crashing. If Kamala wins, she will continue Biden’s polices and completely tank the economy.

You and Donald are the only to people on the planet who believes the US economy is "crashing"

there is literally no evidence where the US economy isn't the "envy of the world" and riding record metrics in every category.

Look at the math. The US economic is $29T. Let's say growth for 2024 is 3%, which is quite generous. That means the economy would be projected to grow by less than $1T.

Do you know what deficit spending will be for 2024? About $1.8T. So the economy is growing less than the debt. Is the economy crashing today or tomorrow? No. However, this trend cannot continue indefinitely. The longer it persists, the uglier the crash will be.

Adults should be in charge of spending. Unfortunately, both parties like to elect children.

don’t both sides this entirely — Democrats have been way more responsible than the Republicans. Last time the budget was balanced was under Clinton but then the Rs always want to give tax cuts to the rich

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Unemployment remains at 4.1%

12,000 versus 100,000 expected, but this is mostly due to Boeing strike and hurricanes.

Wages are as expected.

Jobs were lost without including creation of government jobs. The economy is crashing. If Kamala wins, she will continue Biden’s polices and completely tank the economy.

You and Donald are the only to people on the planet who believes the US economy is "crashing"

there is literally no evidence where the US economy isn't the "envy of the world" and riding record metrics in every category.

Look at the math. The US economic is $29T. Let's say growth for 2024 is 3%, which is quite generous. That means the economy would be projected to grow by less than $1T.

Do you know what deficit spending will be for 2024? About $1.8T. So the economy is growing less than the debt. Is the economy crashing today or tomorrow? No. However, this trend cannot continue indefinitely. The longer it persists, the uglier the crash will be.

Adults should be in charge of spending. Unfortunately, both parties like to elect children.

Wait, you care about debt and deficits? Did you know Donald and W are responsible for 57% of our debt? There is a way to get out from under it, and it isn't by voting in republicans. Clinton had a balanced budget after inheriting a recession and then W clobbered it and left Obama the market crash of 2008. Obama repaired it and left Donald a growing economy that Trump totally trashed both with the needles tax cuts and then COViD mismanagement. Biden has repaired it to "the envy of the world"

[Anonymous]

Barack Obama (2009 to 2017):
When looking at which president added the most to the national debt in dollar amounts, President Barack Obama takes the lead.

Obama’s efforts to spur recovery from the Great Recession through his $832 billion stimulus package and $858 billion in tax cuts contributed to the rise of national debt during his presidency.

National Debt Continues to Rise Under President Biden:
The national debt has grown by over $7.29 trillion since Biden took office in 2021, largely driven by COVID-19 relief measures. If we measure from the start of the new fiscal year on October 1, 2021, the debt has grown by over $6.69 trillion under President Biden.
According to estimates by the Congressional Budget Office (CBO), Biden’s American Rescue Plan is projected to add $1.9 trillion to the national debt by 2031.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Unemployment remains at 4.1%

12,000 versus 100,000 expected, but this is mostly due to Boeing strike and hurricanes.

Wages are as expected.

Jobs were lost without including creation of government jobs. The economy is crashing. If Kamala wins, she will continue Biden’s polices and completely tank the economy.

You and Donald are the only to people on the planet who believes the US economy is "crashing"

there is literally no evidence where the US economy isn't the "envy of the world" and riding record metrics in every category.

Look at the math. The US economic is $29T. Let's say growth for 2024 is 3%, which is quite generous. That means the economy would be projected to grow by less than $1T.

Do you know what deficit spending will be for 2024? About $1.8T. So the economy is growing less than the debt. Is the economy crashing today or tomorrow? No. However, this trend cannot continue indefinitely. The longer it persists, the uglier the crash will be.

Adults should be in charge of spending. Unfortunately, both parties like to elect children.

Who is coming to collect, the Martians 👽? This is debt we mostly owe ourselves. This is not like household or individual debt and people need to stop thinking of it like that.

The government could actually wipe it out today if they needed to, don’t even need to print the money, just digitally credit the treasury with 29T of whatever. Not a good way to do it but they could.

It’s all priced in, and the markets stock/bond/treasury…and all other markets are not concerned, not even a little concerned.

[Anonymous]

The economy is doing well. Trump and his followers are in denial. Trump keeps lying and all this idiots believe him. Unemployment is at a 50 year low!!

[Anonymous]

Just read this article on the success of Bidenomics and how it will have long lasting positive effects https://www.newyorker.com/magazine/2024/11/04/bidenomics-is-starting-to-transform-america-why-has-no-one-noticed

[Anonymous]

The top line takeaway is that despite 2 major hurricanes and the Boeing strike, unemployment held steady at 4.1% and wages were up .4% for the month and 4% YoY, well higher than the 2.1% inflation rate.

The Boeing strike alone is 44k jobs, and more if you count suppliers and other businesses that rely on them. Watch the bounce next month if the Boeing strike ends, and hopefully no more hurricanes!

[Anonymous]

Anonymous wrote:The top line takeaway is that despite 2 major hurricanes and the Boeing strike, unemployment held steady at 4.1% and wages were up .4% for the month and 4% YoY, well higher than the 2.1% inflation rate.

The Boeing strike alone is 44k jobs, and more if you count suppliers and other businesses that rely on them. Watch the bounce next month if the Boeing strike ends, and hopefully no more hurricanes!

Striking workers are counted as employed. The strike has no effect on these numbers.

BLS says the survey doesn’t measure adverse weather conditions in relation to unemployment. Your post is severely misleading and actually false.

[Anonymous]

Anonymous wrote:The top line takeaway is that despite 2 major hurricanes and the Boeing strike, unemployment held steady at 4.1% and wages were up .4% for the month and 4% YoY, well higher than the 2.1% inflation rate.

The Boeing strike alone is 44k jobs, and more if you count suppliers and other businesses that rely on them. Watch the bounce next month if the Boeing strike ends, and hopefully no more hurricanes!

Striking workers are counted as employed in the Bureau of Labor Statistics' (BLS) Current Population Survey (CPS). The CPS counts people as employed if they are temporarily absent from work, including those who are on strike.

[Anonymous]

Anonymous wrote:Barack Obama (2009 to 2017):
When looking at which president added the most to the national debt in dollar amounts, President Barack Obama takes the lead.

Obama’s efforts to spur recovery from the Great Recession through his $832 billion stimulus package and $858 billion in tax cuts contributed to the rise of national debt during his presidency.

National Debt Continues to Rise Under President Biden:
The national debt has grown by over $7.29 trillion since Biden took office in 2021, largely driven by COVID-19 relief measures. If we measure from the start of the new fiscal year on October 1, 2021, the debt has grown by over $6.69 trillion under President Biden.
According to estimates by the Congressional Budget Office (CBO), Biden’s American Rescue Plan is projected to add $1.9 trillion to the national debt by 2031.

Context is important. Bush crashed the US economy and the spending that was authorized as Obama came in to office was necessary to stem the damage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Barack Obama (2009 to 2017):
When looking at which president added the most to the national debt in dollar amounts, President Barack Obama takes the lead.

Obama’s efforts to spur recovery from the Great Recession through his $832 billion stimulus package and $858 billion in tax cuts contributed to the rise of national debt during his presidency.

National Debt Continues to Rise Under President Biden:
The national debt has grown by over $7.29 trillion since Biden took office in 2021, largely driven by COVID-19 relief measures. If we measure from the start of the new fiscal year on October 1, 2021, the debt has grown by over $6.69 trillion under President Biden.
According to estimates by the Congressional Budget Office (CBO), Biden’s American Rescue Plan is projected to add $1.9 trillion to the national debt by 2031.

Context is important. Bush crashed the US economy and the spending that was authorized as Obama came in to office was necessary to stem the damage.

[Anonymous]

Anonymous wrote:Continues to grow! Since the media will cover this in only the most tepid and silliest of ways (“how this is bad for Biden” is the new “thanks Obama”), I figured I would start a thread to talk about where the economy is going.

I pondered using the same homoerotic overtones that Trump supporters used to use when talking about Trump’s inherited economy, but ultimately I chose plain facts.

Did you see the recent revised job report? Disaster for the Biden/Harris administration.