Biden’s economy

[Anonymous]

Anonymous wrote:record air travel over the holiday weekend
record sales on black friday


"but the Biden economy is sooooo bad"

Americans are getting fleeced by the airline executives. Did you hear Blumenthal and Hawley lambast the top 5 airline execs yesterday?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation: low, back to pre-pandemic levels.
GDP: record high
Job creation: record high
Unemployment: record low
S&P/DOW: record high

The Biden record.

I hope Trump doesn't screw it up, but the GOP record on the economy the last 35 years is abysmal, so I won't hold my breath.

Not holding mine either. Expect Trump to add another $8T.

To be fair, Biden is at 7.6 or so.

The problem is after another $10T (or whatever) the interest on the debt, even at low interest rates, becomes too big and swallows federal spending. The only solution is to dramatically slash spending, but few voters have the appetite for that fix. Indeed, the best way to fix the government is to limit the franchise to those who would vote for massive spending cuts.

You could also undo the W and Trump tax cuts, which have had a greater negative impact on the debt, but nah...

By W, you also mean the tax cuts Obama continued the closely followed W's plan? Democrats should propose that tax hike. The funny thing is it still wouldn't be enough money to cover all the spending.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation: low, back to pre-pandemic levels.
GDP: record high
Job creation: record high
Unemployment: record low
S&P/DOW: record high

The Biden record.

I hope Trump doesn't screw it up, but the GOP record on the economy the last 35 years is abysmal, so I won't hold my breath.

Not holding mine either. Expect Trump to add another $8T.

To be fair, Biden is at 7.6 or so.

The problem is after another $10T (or whatever) the interest on the debt, even at low interest rates, becomes too big and swallows federal spending. The only solution is to dramatically slash spending, but few voters have the appetite for that fix. Indeed, the best way to fix the government is to limit the franchise to those who would vote for massive spending cuts.

You could also undo the W and Trump tax cuts, which have had a greater negative impact on the debt, but nah...

By W, you also mean the tax cuts Obama continued the closely followed W's plan? Democrats should propose that tax hike. The funny thing is it still wouldn't be enough money to cover all the spending.

No the huge recession that required wall street bailouts not to mention his multi-trillion dollar wars that did nothing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation: low, back to pre-pandemic levels.
GDP: record high
Job creation: record high
Unemployment: record low
S&P/DOW: record high

The Biden record.

I hope Trump doesn't screw it up, but the GOP record on the economy the last 35 years is abysmal, so I won't hold my breath.

Not holding mine either. Expect Trump to add another $8T.

To be fair, Biden is at 7.6 or so.

The problem is after another $10T (or whatever) the interest on the debt, even at low interest rates, becomes too big and swallows federal spending. The only solution is to dramatically slash spending, but few voters have the appetite for that fix. Indeed, the best way to fix the government is to limit the franchise to those who would vote for massive spending cuts.

You could also undo the W and Trump tax cuts, which have had a greater negative impact on the debt, but nah...

By W, you also mean the tax cuts Obama continued the closely followed W's plan? Democrats should propose that tax hike. The funny thing is it still wouldn't be enough money to cover all the spending.

Obama never had a chance to change the W tax law.

[Anonymous]

Another excellent jobs report.

+227k jobs in November
+56k revisions to September and October
+.4% wage growth in November (4.8% annualized)

+186k jobs average monthly increase in the last year
+4.0% wage growth in the last year

Trump will get the tailwind of these numbers in 2025. I’m interested if he can keep almost 200k/mo job growth in 2026/27. I’m sure that if his job growth is even half as good he will claim it’s the best ever (and the base will believe it). If they drop significantly he will claim they are fake or some other conspiracy.

I hope we can keep averaging close to 200k with wages increasing at 4%+. It’s a high bar.

[Anonymous]

Anonymous wrote:Another excellent jobs report.

+227k jobs in November
+56k revisions to September and October
+.4% wage growth in November (4.8% annualized)

+186k jobs average monthly increase in the last year
+4.0% wage growth in the last year

Trump will get the tailwind of these numbers in 2025. I’m interested if he can keep almost 200k/mo job growth in 2026/27. I’m sure that if his job growth is even half as good he will claim it’s the best ever (and the base will believe it). If they drop significantly he will claim they are fake or some other conspiracy.

I hope we can keep averaging close to 200k with wages increasing at 4%+. It’s a high bar.

+1 Also unemployment still very low at 4.2%.

[Anonymous]

Biden's "disastrous" economy is suddenly wonderful.

Republicans will take credit for it even though they did absolutely nothing to help.

[Anonymous]

[Anonymous]

[Anonymous]

No matter how much gaslighting the right wants to execute, the fact is, Biden inherited a dumpster fire from Trump and turned it into the best economy in the world.

https://newrepublic.com/article/189232/bidenomics-success-biden-legacy

"The strong economy and tight labor markets that Biden has overseen have dealt workers their best hand in decades."

By nearly every metric, Bidenomics was a roaring success. It would be a mistake to ignore or forget the lessons that can be gleaned from the administration’s robust economic policy. Americans will undoubtedly miss this economy when it’s gone.

No different that Clinton inheriting a recession from Bush41 and turning into the roaring 90's.

No different that Obama inheriting an economic collapse from W and turning into ta steadily growing economy.

At some point, perhaps the dems will better message that they are the adults in the room and are better at governing.

And hopefully Trump and the GOP won't cause permanent damage in the coming months.

[Anonymous]

[Anonymous]

[Anonymous]

Credit Card Defaults Soar: Is the U.S. Economy on the Brink?

Khac Phu Nguyen
Mon, December 30, 2024

Brace yourself, investorsU.S. credit card defaults are climbing at a rate we haven't seen since 2010, signaling cracks in consumer financial stability. Credit card lenders have already written off $46 billion in delinquent loans in 2024, a 50% leap over last year, according to BankRegData. That's a big red flag for the bottom third of U.S. consumers, whose savings rate is now a shocking zero, per Moody's Analytics chief Mark Zandi. Meanwhile, Capital One (NYSE:COF) just revealed that its annualized credit card write-off rate hit 6.1% in November, up from 5.2% a year ago. Translation? Borrowers are struggling, and lenders are bracing for impact.

https://finance.yahoo.com/news/credit-card-defaults-soar-u-172253753.html

[Anonymous]

I did not read all the pages… summary anywhere?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inflation: low, back to pre-pandemic levels.
GDP: record high
Job creation: record high
Unemployment: record low
S&P/DOW: record high

The Biden record.

I hope Trump doesn't screw it up, but the GOP record on the economy the last 35 years is abysmal, so I won't hold my breath.

Not holding mine either. Expect Trump to add another $8T.

To be fair, Biden is at 7.6 or so.

The problem is after another $10T (or whatever) the interest on the debt, even at low interest rates, becomes too big and swallows federal spending. The only solution is to dramatically slash spending, but few voters have the appetite for that fix. Indeed, the best way to fix the government is to limit the franchise to those who would vote for massive spending cuts.

You could also undo the W and Trump tax cuts, which have had a greater negative impact on the debt, but nah...

By W, you also mean the tax cuts Obama continued the closely followed W's plan? Democrats should propose that tax hike. The funny thing is it still wouldn't be enough money to cover all the spending.

Obama never had a chance to change the W tax law.

Of course he did. Harry Reid and Chuck Schumer wouldn't talk about it, but Obama sent Biden to negotiate.