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Biden’s economy
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Anonymous
What credit does Biden deserve for the economy snapping back from a once in a lifetime pandemic? The guy Is basically a toadstool play-acting as president. |
Anonymous
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FROM HEATHER COX RICHARDSON: Year-end accounts of the U.S. economy are very strong indeed. According to Bloomberg and the Wall Street Journal—which are certainly not giddy media outlets—U.S. economic output has jumped more than 7% in the last three months of 2021. Overall growth for 2021 should be about 6%, and economists predict growth of around 4% in 2022—the highest numbers the U.S. has seen in decades. China’s growth in the same period will be 4%, and the eurozone (which is made up of the member countries of the European Union that use the euro) will grow at 2%.
The U.S. is “outperforming the world by the biggest margin in the 21st century,” wrote Matthew A. Winkler in Bloomberg, “and with good reason: America’s economy improved more in Joe Biden’s first 12 months than any president during the past 50 years….” |
Anonymous
I'm pragmatic enough to know the answer is not and never has been one or the other. If Trump had won reelection, we'd have the same unemployment drops (because unemployment was also rapidly falling by election day and through Trump's final months, just like the vaccinations started in earnest under Trump). I read the British and European presses all the time because I hold dual nationality and there's also inflation in Europe and the UK, but it is also more mild than what's happening in the US. We can even trace the divergence in inflation rates to March of this year around the same time Biden passed yet another trillion plus deficit spending sending checks to everyone. That's when inflation really started to accelerate in the US. There are certainly some policy actions that have had implications - the last round of stimulus spending with 1400 checks and child credits wasn't really necessary. The fuel prices aren't independent of policy decisions. Inflation is outpacing most people's wage gains. There's no way around it. Rich people have gotten richer, some working people are making more money, but pretty much everyone in between is seeing inflation outpace their wage gains and it's not a comfortable feeling. We also don't see an end to inflation. It's completely unknown whether it will calm down, remain the same, or accelerate. That's why polling on Biden's economic performance and overall performance is decidedly negative, not because of bad news in the papers, which is a real eye-rolling moment, especially as the people whining that the papers are too unfair to Biden are the same people who gleefully believed every hyperbolic headline and sensationalist distortion the papers published when Trump was president  Pick your poison, but you can't choose it just for the party you disagree with.
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Anonymous
addressed the supply chain issues - untrue. This is a big reason for inflation issues. addressed the port issues - see above addressed the unemployment issues - there weren't non-covid related unemployment issues. In Feb'20 the rate was 3.5%. It is now 4.2%. Everything in between was an anomaly due to covid. Now, as omni ratchets up and schools and businesses overreact let's see how Biden spins everything. addressed the getting schools open issues - they are about to close again. The ivies are leading the way. GW too. doing what he can about COVID in the face of GOP self-emasculation - rates rising faster than ever, tests are unavailable Gas prices are receding - this one made me spit up my coffee. Gas is over $3.29 a gallon. Gas prices last year at this time were $2.63. Yes, they've dropped over last two months due to winter and people all being sick with omni. Mail delivery is not horrendous - yay! I get useless ads and solicitations!! |
Anonymous
Because the other guy had no plan to get vaccines out to the public, had no intention of making sure Americans were able top remain healthy and wanted to ramrod the economy being open at the expense of the health and welfare of the American public. Do you not remember 2020 at all? |
Anonymous
Anonymous
The right winger at 9:49 doesn’t remember 2020 at all. Most maga don’t. It’s why they’re in denial about the economy. |
Anonymous
There were 20,000,000 unemployed Americans when Biden took office. There is a fraction today. There were 800,000 weekly new unemployment claims when Biden took office, there are 205,000 literally today. As to closing schools, that is a local, not federal issue. However, since most educated or smart people are vaccinated, I highly doubt schools will be closed or for anything more than the period it takes for community testing. Remember, people are vaccinated, unlike 2020. |
Anonymous
Why were gas prices at $2.63 last year? Because the economy was essentially shut down due to the horrendous reaction by the trump Administration to COVID. Why is it $3.29 now? Because people are back to work and school and traveling for the holidays. Supply/demand, right? And...gas is $.25 off its highs due to the release of the reserves by the Biden Administration and due to the investigations around price gouging by the DOJ. So would you prefer that gas is $2.62 with a flailing economy, closed schools and people out of work, or $3.29 with schools open and businesses operating at capacity? You seem to be rooting against America and for recessions. Why? |
Anonymous
$3.29 isn't even that bad. I remember when it was $5 under the Bush admin. |
Anonymous
Anonymous
Anonymous
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Fine, but that is not the same thing as a strong real economy. |
Anonymous
Well, someone had to do something after the tire fire Trump left. |