Bidenomics

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dajo9
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In reply to calbear93 • 4:29p, 3/11/24
calbear93 said:
dajo9 said:
DiabloWags said:
With a near zero birthrate in this country, I wonder who the MAGA crowd thinks will be helping to support their social security payouts.
The MAGA crowd now supports cuts to social security and / or Medicare. They may not know it yet, but they do. Trump came out in favor of entitlement cuts this morning.

https://www.forbes.com/sites/zacharyfolk/2024/03/11/trump-floats-cutting-spending-on-entitlements-like-social-security-and-medicare/?sh=7fb8e1975c3e
I don't know what needs to be done that is passable politically, but burying our head in the sand is probably not the best solution either.


Republicans want to cut benefits and Democrats want to raise taxes on the wealthy. Biden is proposing payroll taxes above $400k of income and Medicare tax above $400k to go from 3.8% to 5.0%.

I think health care deficits won't truly be resolved until we go to affordable national healthcare.

I don't think politicians have their head in the sand. I think we have Senate traditions that prevent action.
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DiabloWags
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5:18p, 3/11/24
The prime age workforce participation rate (25 - 54 year olds) reached 83.5% in February.

This rate matched highs of last year that HAVENT BEEN SEEN SINCE 2002.

Nonetheless, the economy was the "strongest in history" under the Orange Man.

lol

"Cults don't end well. They really don't."
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oski003
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In reply to DiabloWags • 6:44p, 3/11/24
DiabloWags said:
The prime age workforce participation rate (25 - 54 year olds) reached 83.5% in February.

This rate matched highs of last year that HAVENT BEEN SEEN SINCE 2002.

Nonetheless, the economy was the "strongest in history" under the Orange Man.

lol



That's not necessarily an indicator of a strong economy. It seems more of the reality that both parents need to work to make ends meet and there are more part time jobs. Male prime age workforce participation is lower than it was before the pandemic.
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DiabloWags
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In reply to oski003 • 7:04p, 3/11/24
So can you tell us why Trump would say that the economy was "the strongest in history" when he was president?

Was it the 2.9 million jobs that were lost during his term?

Was it the unemployment rate that went up by 1.6% to 6.3% during his term?

Was it the international trade deficit that grew 40.5% (highest since 2008) during his term?

Was it the rise of 3 million people lacking health insurance during his term?

Or was it the federal debt surging by 51% from $14.4 Trillion to $21.6 Trillion during his term?


"Cults don't end well. They really don't."
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oski003
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In reply to DiabloWags • 7:11p, 3/11/24
DiabloWags said:
So can you tell us why Trump would say that the economy was "the strongest in history" when he was president?



We got hit with a once in a lifetime pandemic in late 2019. I doubt his economy was the strongest in history.
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DiabloWags
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In reply to oski003 • 7:12p, 3/11/24
oski003 said:
DiabloWags said:
So can you tell us why Trump would say that the economy was "the strongest in history" when he was president?



We got hit with a once in a lifetime pandemic in late 2019. I doubt his economy was the strongest in history.

So President Trump lied to us?
"Cults don't end well. They really don't."
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oski003
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In reply to DiabloWags • 7:13p, 3/11/24
DiabloWags said:
oski003 said:
DiabloWags said:
So can you tell us why Trump would say that the economy was "the strongest in history" when he was president?



We got hit with a once in a lifetime pandemic in late 2019. I doubt his economy was the strongest in history.

So President Trump lied to us?


Apparently so.
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Unit2Sucks
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In reply to DiabloWags • 7:37p, 3/11/24
DiabloWags said:
So can you tell us why Trump would say that the economy was "the strongest in history" when he was president?

Was it the 2.9 million jobs that were lost during his term?

Was it the unemployment rate that went up by 1.6% to 6.3% during his term?

Was it the international trade deficit that grew 40.5% (highest since 2008) during his term?

Was it the rise of 3 million people lacking health insurance during his term?

Or was it the federal debt surging by 51% from $14.4 Trillion to $21.6 Trillion during his term?
The numbers could have looked far worse and Trump still would be saying the same things. The simple answer is he says these things because he is an idiot who has spent his whole life making false claims of grandeur and then convincing himself it's true. He (or more accurately his ghostwriter) described it as "truthful hyperbole" in his first book and while it's certainly not truthful, Trump was narcissistic enough to convince himself of it.

The reason Trump is able to to succeed telling obvious lies is because he has a large base of even bigger idiots who believe everything he says because they want those things to be true. Believing it makes them feel better about themselves. So why would Trump tell the truth, or anything resembling it, when he's gotten so far lying this way?

Look at the numerous people on BI who still defend him, despite what objective reality says.
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DiabloWags
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9:39a, 3/12/24
Reality Check for the Maga Morons:

Thanks to a surging stock market in Q4, Americans saw their household net worth hit a RECORD
$156.2 TRILLION in 2023.

+8%

"Cults don't end well. They really don't."
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DiabloWags
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10:21a, 3/12/24
And before anyone asks "How Many Americans Own Stocks?"

Gallup says 158 million Americans or 61%

But for transparency, here's the further breakdown:

How Many Americans Own Stock? More Than You Think | The Motley Fool


"Cults don't end well. They really don't."
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Eastern Oregon Bear
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In reply to DiabloWags • 11:12a, 3/12/24
DiabloWags said:
oski003 said:
DiabloWags said:
So can you tell us why Trump would say that the economy was "the strongest in history" when he was president?



We got hit with a once in a lifetime pandemic in late 2019. I doubt his economy was the strongest in history.

So President Trump lied to us?
Well, if Trump's lips were moving…
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DiabloWags
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In reply to Eastern Oregon Bear • 12:40p, 3/12/24
Eastern Oregon Bear said:
DiabloWags said:
oski003 said:
DiabloWags said:
So can you tell us why Trump would say that the economy was "the strongest in history" when he was president?



We got hit with a once in a lifetime pandemic in late 2019. I doubt his economy was the strongest in history.

So President Trump lied to us?
Well, if Trump's lips were moving…

"Cults don't end well. They really don't."
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bear2034
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1:14p, 3/12/24
BIDENOMICS: Inflation is roaring back. Biden's economy is faltering as quickly as his poll numbers. Consumer prices rose 0.4% in February and 3.2% from a year ago. White House and Democrats are in denial and refuse to address the root cause.
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dajo9
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12:04a, 3/13/24
US energy independence

https://www.threads.net/@meidastouch/post/C4cEHekRbkw/?xmt=AQGz1vZfa2DT9L319K5uEtodiWIbi0k9ugNZbSxmAtL-yg
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bearister
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12:30p, 3/16/24
Why inflation got so high and felt so bad: Gas, rent and food


https://www.axios.com/2024/03/16/inflation-high-rent-gas-food-chart

"If you look at the prices that are top of mind for regular folks, inflation turns out to have been astonishingly high in mid-2022 far higher than the headline Consumer Price Index. Now, however, it's at a very benign 2%.

… The gas-food-lodging inflation chart spiked to an astonishing 18% in June 2022, and then briefly turned negative a year later as gas prices came down fast.

The peak in gas-food-lodging inflation was double the 9% peak in headline CPI.

This time last year, it was still above 7%, but since then it's been much lower.

The series is volatile, but since mid-2023 it has hovered at decidedly unworrying levels. In February it came in at a benign 2%.

The bottom line: We're reaching the point at which Americans are becoming accustomed to higher/ but no longer sharply rising prices. That's the point at which inflation worries tend to dissipate."
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bear2034
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In reply to dajo9 • 2:56p, 3/16/24
dajo9 said:
calbear93 said:
dajo9 said:
DiabloWags said:
With a near zero birthrate in this country, I wonder who the MAGA crowd thinks will be helping to support their social security payouts.
The MAGA crowd now supports cuts to social security and / or Medicare. They may not know it yet, but they do. Trump came out in favor of entitlement cuts this morning.

https://www.forbes.com/sites/zacharyfolk/2024/03/11/trump-floats-cutting-spending-on-entitlements-like-social-security-and-medicare/?sh=7fb8e1975c3e
I don't know what needs to be done that is passable politically, but burying our head in the sand is probably not the best solution either.


Republicans want to cut benefits and Democrats want to raise taxes on the wealthy. Biden is proposing payroll taxes above $400k of income and Medicare tax above $400k to go from 3.8% to 5.0%.

I think health care deficits won't truly be resolved until we go to affordable national healthcare.

I don't think politicians have their head in the sand. I think we have Senate traditions that prevent action.

What's stopping you from volunteering to pay more taxes?
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bear2034
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2:59p, 3/16/24
In tax year 2021, the top 1% paid 45.8% of all federal income taxes. The bottom 50% paid 2.3%.

Who Pays Federal Income Taxes? Latest Federal Income Tax Data (taxfoundation.org)
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Unit2Sucks
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6:29p, 3/25/24
Biden's presidency has been one of peace and prosperity. Absent a black swan, he will cruise in November. Expect his opponent to increasingly get more desperate. There is a reason he resorted to so much illegal misconduct to try and steal 2020 and he will cause everyone under his thumb to risk their futures to cheat again. This time he won't have the power of the presidency helping him though.



Quote:
I'm going to tell you something that I'm pretty sure you don't knowand that you probably won't even believe. Ready? Real wages are now growing in the United States at a pace faster than the spike in the cost of living since the pandemic. More than that: For the first time in decades, wage growth is consistently stronger in the middle and at the bottom than at the top.

...
Trump's pre-pandemic economy, as I've written before, was good. Trump haters can't deny it. It wasn't because of anything he did. He passed a tax cut for the rich. It goosed demand a little, and it did help the stock market. Median household income rose dramatically in one year, from 2018 to 2019.

But it was not the greatest economy in the history of the universe. Trump's jobs numbers in his first two years lagged behind Barack Obama's in his last two, 4.5 million to 5.2 million. And both are way behind Biden's first two-year total of nearly 11 million. And wages, as I noted above, are up. And they're especially up for the middle class and the poor. This is what "middle-out economics" means.
And yet Trump is dumb enough to think he can convince Americans they were better off during the early days of COVID before Biden righted the ship.


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bear2034
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In reply to Unit2Sucks • 1:43a, 3/26/24
Unit2Sucks said:
Biden's presidency has been one of peace and prosperity.
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dajo9
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5:09a, 4/4/24
Georgia, in particular, has benefited from the Biden Boom. Great chart in this article showing the increase in Georgia manufacturing jobs in the 2nd Obama term, then they flatline during the Traitor Trump Presidency, then they boom again under President Biden. The article also goes on to articulate how this particular manufacturing boom (the best since 1951) is a direct result of Democratic legislation signed by President Biden.

https://www.bloomberg.com/opinion/articles/2024-04-03/joe-biden-s-record-job-market-powers-swing-state-georgia
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bear2034
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12:34p, 4/4/24


Bidenomics - Strategic Oil Reserves down 43% since Biden took office.
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DiabloWags
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12:44p, 4/4/24




Pitched by Michael Buckley out of Duquesne Capital yesterday at the annual Ira Sohn Conference in NYC.
For those that don't know, Duquesne is Stanley Druckenmiller's "friends and family" fund.

NTRA is the leader in non-invasive prenatal testing and cancer monitoring/reoccurrence via a simple blood draw that is customized to your tissue biopsy.

Disclosure: I've owned it since 2017.

"Cults don't end well. They really don't."
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calbear93
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In reply to bear2034 • 2:00p, 4/4/24
bear2034 said:


Bidenomics - Strategic Oil Reserves down 43% since Biden took office.
Why were the reserves down? Anything to do with OPEC supply and high gas prices?

And should the government buy at the current elevated prices? Or should they be nimble?

Please tell us what the preferred strategy on this specific issue should be.
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calbear93
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In reply to bear2034 • 2:03p, 4/4/24
bear2034 said:
dajo9 said:
calbear93 said:
dajo9 said:
DiabloWags said:
With a near zero birthrate in this country, I wonder who the MAGA crowd thinks will be helping to support their social security payouts.
The MAGA crowd now supports cuts to social security and / or Medicare. They may not know it yet, but they do. Trump came out in favor of entitlement cuts this morning.

https://www.forbes.com/sites/zacharyfolk/2024/03/11/trump-floats-cutting-spending-on-entitlements-like-social-security-and-medicare/?sh=7fb8e1975c3e
I don't know what needs to be done that is passable politically, but burying our head in the sand is probably not the best solution either.


Republicans want to cut benefits and Democrats want to raise taxes on the wealthy. Biden is proposing payroll taxes above $400k of income and Medicare tax above $400k to go from 3.8% to 5.0%.

I think health care deficits won't truly be resolved until we go to affordable national healthcare.

I don't think politicians have their head in the sand. I think we have Senate traditions that prevent action.

What's stopping you from volunteering to pay more taxes?
Don't be ridiculous. I meant raise taxes for the other guys and bring back full SALT deduction.
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calbear93
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In reply to bear2034 • 2:05p, 4/4/24
bear2034 said:
Unit2Sucks said:
Biden's presidency has been one of peace and prosperity.
Does Trump want to end aid to Israel?
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DiabloWags
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In reply to calbear93 • 2:14p, 4/4/24
calbear93 said:


Does Trump want to end aid to Israel?

He is on record from last month saying that he would convert Israel's aid, currently a grant, to a loan.
"Cults don't end well. They really don't."
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calbear93
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In reply to DiabloWags • 2:19p, 4/4/24
DiabloWags said:
calbear93 said:


Does Trump want to end aid to Israel?

He is on record from last month saying that he would convert Israel's aid, currently a grant, to a loan.
Interesting. Did not know this. Assume most is in the form of military aid.
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DiabloWags
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In reply to calbear93 • 2:24p, 4/4/24
calbear93 said:
DiabloWags said:
calbear93 said:


Does Trump want to end aid to Israel?

He is on record from last month saying that he would convert Israel's aid, currently a grant, to a loan.
Interesting. Did not know this. Assume most is in the form of military aid.

Yes, their military.

We've given them $300 Billion thus far which is a little more than double what we've given to Egypt and Afghanistan. We have provisionally agreed via a memorandum of understanding to provide Israel with roughly $4 Billion a year through 2028.

Here's a good article on the aid topic, with some very good charts:

U.S. Aid to Israel in Four Charts | Council on Foreign Relations (cfr.org)
"Cults don't end well. They really don't."
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oski003
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2:32p, 4/4/24
We give them money and then "sell" them weapons.
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bear2034
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In reply to calbear93 • 2:03a, 4/5/24
calbear93 said:
bear2034 said:


Bidenomics - Strategic Oil Reserves down 43% since Biden took office.
Why were the reserves down? Anything to do with OPEC supply and high gas prices?

And should the government buy at the current elevated prices? Or should they be nimble?

Please tell us what the preferred strategy on this specific issue should be.

"I would refer you to the Department of Energy." - KJP
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bearister
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8:19a, 4/5/24
Biden pumps billions in federal funding into Republican and swing states


https://www.axios.com/2024/04/05/biden-half-trillion-dollar-jobs-campaign

President Biden's infrastructure and clean-energy bills are pumping some $250 billion into Republican and swing states, allowing Biden and his cabinet to regularly announce job-creating goodies in places that could help him win re-election.
… "I hate to acknowledge this, as a former governor of Michigan, but we know that all these battery investments are going to red states," Energy Secretary Jennifer Granholm told Axios last week.
And as much as some Republicans have criticized Biden's economic programs, "those governors aren't going to want to see the investment the Inflation Reduction Act reversed," Granholm said."
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Unit2Sucks
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In reply to bearister • 8:27a, 4/5/24
bearister said:
Biden pumps billions in federal funding into Republican and swing states


https://www.axios.com/2024/04/05/biden-half-trillion-dollar-jobs-campaign

President Biden's infrastructure and clean-energy bills are pumping some $250 billion into Republican and swing states, allowing Biden and his cabinet to regularly announce job-creating goodies in places that could help him win re-election.
… "I hate to acknowledge this, as a former governor of Michigan, but we know that all these battery investments are going to red states," Energy Secretary Jennifer Granholm told Axios last week.
And as much as some Republicans have criticized Biden's economic programs, "those governors aren't going to want to see the investment the Inflation Reduction Act reversed," Granholm said."

Numerous GOP Congress people who voted against the acts (and other bills) have hypocritically taken credit for bringing spending to their districts. Biden deserves a lot of credit for his landmark legislations which have brought meaningful benefits for all Americans, not just the ones who voted for him.

The March jobs report was another stellar one. 50% more new jobs than expected and unemployment lowered to 3.8% (many worried it would tick above 4%).

The economy is strong and Biden's administration deserves credit for bringing stability back to our country after the chaos of the prior administration. Voters see what is happening which is why Trump and his team are freaking out about the election and trying to generate or invent a black swan event. It's their only hope to bring his brand of malign chaos back to our country.
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Eastern Oregon Bear
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In reply to Unit2Sucks • 9:20a, 4/5/24
Unit2Sucks said:
bearister said:
Biden pumps billions in federal funding into Republican and swing states


https://www.axios.com/2024/04/05/biden-half-trillion-dollar-jobs-campaign

President Biden's infrastructure and clean-energy bills are pumping some $250 billion into Republican and swing states, allowing Biden and his cabinet to regularly announce job-creating goodies in places that could help him win re-election.
… "I hate to acknowledge this, as a former governor of Michigan, but we know that all these battery investments are going to red states," Energy Secretary Jennifer Granholm told Axios last week.
And as much as some Republicans have criticized Biden's economic programs, "those governors aren't going to want to see the investment the Inflation Reduction Act reversed," Granholm said."

Numerous GOP Congress people who voted against the acts (and other bills) have hypocritically taken credit for bringing spending to their districts. Biden deserves a lot of credit for his landmark legislations which have brought meaningful benefits for all Americans, not just the ones who voted for him.

The March jobs report was another stellar one. 50% more new jobs than expected and unemployment lowered to 3.8% (many worried it would tick above 4%).

The economy is strong and Biden's administration deserves credit for bringing stability back to our country after the chaos of the prior administration. Voters see what is happening which is why Trump and his team are freaking out about the election and trying to generate or invent a black swan event. It's their only hope to bring his brand of malign chaos back to our country.
So, the question now is whether swing state voters will believe the economic numbers or their lying eyes.
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dajo9
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9:41a, 4/5/24
President Jobs Biden is the best President of our lifetime.

There is a great chart in this clip of swing state voters overwhelmingly saying their state economies are good but the national economy is bad. The anti-Biden propaganda from corporate news that caused this is immense.
https://www.threads.net/@allinwithchris/post/C5XD2zLqT6T/?xmt=AQGzIWMhMDA3cwiZ8vUBq_PUbxElbu5t3OBXVwER8ihEXw
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oski003
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In reply to Eastern Oregon Bear • 10:58a, 4/5/24
Eastern Oregon Bear said:
Unit2Sucks said:
bearister said:
Biden pumps billions in federal funding into Republican and swing states


https://www.axios.com/2024/04/05/biden-half-trillion-dollar-jobs-campaign

President Biden's infrastructure and clean-energy bills are pumping some $250 billion into Republican and swing states, allowing Biden and his cabinet to regularly announce job-creating goodies in places that could help him win re-election.
… "I hate to acknowledge this, as a former governor of Michigan, but we know that all these battery investments are going to red states," Energy Secretary Jennifer Granholm told Axios last week.
And as much as some Republicans have criticized Biden's economic programs, "those governors aren't going to want to see the investment the Inflation Reduction Act reversed," Granholm said."

Numerous GOP Congress people who voted against the acts (and other bills) have hypocritically taken credit for bringing spending to their districts. Biden deserves a lot of credit for his landmark legislations which have brought meaningful benefits for all Americans, not just the ones who voted for him.

The March jobs report was another stellar one. 50% more new jobs than expected and unemployment lowered to 3.8% (many worried it would tick above 4%).

The economy is strong and Biden's administration deserves credit for bringing stability back to our country after the chaos of the prior administration. Voters see what is happening which is why Trump and his team are freaking out about the election and trying to generate or invent a black swan event. It's their only hope to bring his brand of malign chaos back to our country.
So, the question now is whether swing state voters will believe the economic numbers or their lying eyes.


They will probably vote based on their personal situation. If they personally had better economic opportunities and circumstances prior to Biden, they will believe the Democrats are liars.
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