Frightening response by Biden’s economic advisor.

Both Trump and Biden created larger than average peace time prosperity deficits than prior administrations. Neither bas been concerned with deficits to a material degree. Their priorities were different but the result is the same.

 

Trump thinks “borrowing” is daddy giving him $10M and a rolodex to play Monopoly in Manhattan.

You are free to excuse me as I roll my eyes about him solving a damn thing about a single penny that Biden is missing.

 

Derp, derp …… flush.

 

Biden also took over during the damn pandemic and was able to actually pass a lot of legislation that helped the economy. Trump economy was fine but nothing special and was running one of the largest peace time deficits ever.

 

Trump also posited defaulting on the debt, the full faith and credit of the US Government, as a smart strategy, a workout

https://www.npr.org/2016/05/09/4773...deas-for-handling-the-national-debt-explained

 

Trump managed to explode the deficit BEFORE the Pandemic, resetting it from $400B annual rate to over $1T by 2019 and that was with a “strong” economy,

With the Pandemic, obviously that shitshow added multiples to deficits in ‘20 and ‘21 before things could ever settle back in. The ‘24 deficit is projected to be $1.6T, how much of that is actually “on” Biden? It might be reasonable to just deduct $1.6T and compare to Trumps last “normal” year, and conclude ~$600B is “Biden’s fault”, i wouldn’t call that a crazy way to look at things, but of course in reality it isn’t nearly that simple. “Conservatives” trying to pin the entire deficit on Biden or even on one political party are just not serious people - esp considering the history of not only failing @ doing anything, but actively making it worse.

 

Just another right wing hit piece cobbled together from something that isn't timely and completely out of context.

 

And you voted for this clown...

 

Great perspective post on the Biden presidency and the times generally from Kevin Drum

Just stop it. Joe Biden ended the Afghanistan war and cut American drone strikes nearly to zero. The US is not currently fighting any major wars and in 2022, for the first time in decades, reported no civilian deaths due to US combat.

Health insurance coverage has steadily increased among the young for the past decade:

And infrastructure is not "crumbling" by any stretch of rhetoric. Even the always dour American Society of Civil Engineers says as much: its most recent report gives US infrastructure its highest grade in more than a quarter of a century.¹ Spending on infrastructure has increased by a quarter since 2000:

There is a relentless drumbeat of claims on both sides of the aisle that America is falling apart at the seams and _________ has it worse than ever in living memory. But it's just not true. Wages are high for every demographic group you can name; life satisfaction is steady; unemployment is low; drug abuse overall is down; our educational system is good; poverty is declining; we have more entrepreneurs than any country in the world by a wide margin; democracy is alive and well; our economy is the envy of the world; social welfare spending is generous; and a future of driverless cars, artificial intelligence, medical revolutions, and abundant energy is practically on our doorsteps. Even our demographic problems are about the least bad of any advanced economy—thanks, in part, to our supposed problem of too much illegal immigration.

Everyone has personal problems. Every country has national problems. The fact that we have problems is completely normal. But honestly, our problems right now are about as mild as they've been in our entire history.

¹Their 2021 report gave infrastructure a grade of C-. By ACSE standards this is roughly an A+.

Stop telling everyone life is horrible - Kevin Drum

 

I’m certainly not trying to pin the whole thing on Biden, but some here are trying to pin the deficit and inflation all on Trump and choose to ignore the continued spending spree and its effect on the current economy. They are just as bad as the people you speak of.

 

I enjoy seeing you say more rational things, once it's become apparent that the "Trump economy great, Biden all low interest rates and stimulus spending" assertions aren't going to fly here. (below)

Heck, pretty soon you'll possibly even acknowledge the absolute buffoonery of Trump's instant deficit-funded fiscal stimulus in the first budget he got his hands on.

 

Lol! I think your question would be better directed at da. Chief:

 

Confirming Monks earlier info….
Degree in social welfare from you’ll never guess which university……

Not a degree in economics, nor finance nor business. Literally cant make this shit up…
An intelligent man for sure; Have watched him on CNBC and FOXBusiness repeatedly. As clip proved…has zero business being in that role
Jared Bernstein - Wikipedia.
Throughout the Eighties Jared was a mainstay on the jazz scene in NYC. He also earned a Master of Social Work from Hunter College as well as a DSW in social welfare from Columbia University's school of social work.

 

You didn't even include the clown pres secy (forget her name).

 

That's hilarious!

Almost matched by the hysterics engaged in and employed in this thread to run cover for this the guy...

...so much extrapolation into what he supposedly meant to say, in order to obscure how much he didn't say, and divert from the sounds he actually mumbled...LOL!

 

Funny how you totally misquote me and then show my actual post in your reply.

I never said Trump economy great, I said it was just fine until Covid. Some you the guys here love bashing Trump on the huge UE spike yet ignore it was due to covid and likely would have been worse had some states not went with a less restrictive shutdown policy.

Ignoring the ultra low interest rates that extended longer than they needed and extra stimulus(that even some left leaning posters admit to), isn’t really very honest either. Same for the guys that ignore the reopen boom that was going to happen regardless of who was POTUS.

Biden was blessed with Trump’s covid vaccine that helped end the pandemic a bit faster though.

 

Trump defenders = Trump gets all the credit for the Obama economy that largely remained unchanged until Covid. Trump gets no blame for unnecessarily exploding the debt during this time.

Also Trump defenders = Biden gets no credit for the rebound from Covid but he gets all the blame for the Trump stimulus results.

 

Funny how you misquote yourself after I showed you your actual post in my reply.

You said the Trump economy was "just fine".....but chose to ignore that the largest, and possibly only, growth-oriented change over what Obama left him was deficit-fueled fiscal stimulus in a strong and improving market.

Then you erroneously tried to assert that Biden enjoyed lower interest rates than Trump, when Fed funds under Biden have actually averaged higher.

Finally, we haven't even addressed what may be the biggest factor of all, even though it will unfortunately remain unmeasureable : would the collapse of the economy due to covid have been less dramatic if our President hadn't chosen a policy of lying about covid as his response, rather than trying to take steps to mitigate the problem? Seriously, it's a good question. If he hadn't stood in front of the country and just lied to us that it would be gone in a few weeks, months, more months.....lives might have been saved, and the economy less battered.


In any event, thanks for improving your narrative. Pretty soon you'll (hopefully) have it even more accurate and be (accurately) stating that Trump really didn't do sh!t for the economy except encourage present consumption for future tax-payers to pay for. And worsen environmental and labor conditions, so we could have more now. Conservative indeed!

 

Where have I posted any such thing?

 

How do you think Trump should have responded?
Say he says covid is terrible and everyone will die?
What does the economy do then?

Once it was on our shores it’s was going to spread just like it did most everywhere with massive lockdowns.

Sure he shouldn’t have brushed it off as nobody knew early on how bad it would be. Did you forget certain Dems encouraging people to got out and about in mid February and don’t be afraid?

Sorry that in my book “just fine” doesn’t equate to “Great”.

The rest of your post is just moving goal posts. Carry-on.