The Biden Economy

[Dondilion]

Inflation hits 8.5. Where is Volcker?

[BlueStreak]

Originally Posted by Dondilion

Inflation hits 8.5. Where is Volcker?

I need more bananas. Bought the last bunch for 77 cents at Food Lion. Actually cheaper than they were a year ago. Gas here has gone down by ~12 cents per gallon as well.

[piece-itpete]

Could it be, printing money and shoveling it out plane windows is a bad idea?

https://www.usdebtclock.org/index.html

[bobabode]

Originally Posted by piece-itpete

Could it be, printing money and shoveling it out plane windows is a bad idea?

https://www.usdebtclock.org/index.html

After Il Duce T'Rumpolini republicans have forfeited the right to criticize democrats.

[BlueStreak]

A Trump acolyte, Infowars and Breitbart following coworker informed me recently that Biden has completely lain America to waste and there is no hope for the future. Nothing but doom and gloom out there because of Sleepy Joe, says he. So, I had to ask what he planned to do once his job is stolen from him. "Oh, in this economy, there's jobs everywhere. I can get another job..........".

Gentlemen, I give you todays Republican Party.

[piece-itpete]

Oh no we haven't!

Your boy is in, your folks are running Congress - you own it leftie

That said Trump didn't care about the deficit. Heck even Reagan only kept it from increasing.

Years ago here I researched the so called 'surplus' from a few years back by looking at total government debt. There might, maybe, have been a 12 month period were it actually went down but it didn't fit into the fiscal year. Again, this was looking at government debt. If there was a real surplus it would've gone down. Politicians and smoke and mirrors, go figure.

It was close though.



The debt clock says every taxpayer owes $240k now. Up from $148k in 2012 and estimated $302k in 2026. Although I wonder what figure they're using for inflation.

[Mark B]

Originally Posted by piece-itpete

Oh no we haven't!

Your boy is in, your folks are running Congress - you own it leftie

That said Trump didn't care about the deficit. Heck even Reagan only kept it from increasing.

Years ago here I researched the so called 'surplus' from a few years back by looking at total government debt. There might, maybe, have been a 12 month period were it actually went down but it didn't fit into the fiscal year. Again, this was looking at government debt. If there was a real surplus it would've gone down. Politicians and smoke and mirrors, go figure.

It was close though.



The debt clock says every taxpayer owes $240k now. Up from $148k in 2012 and estimated $302k in 2026. Although I wonder what figure they're using for inflation.

Most of the Total Government Debt was accumulated by Repubs.

https://www.statesman.com/story/news...bt/5891161001/

[whell]

Originally Posted by Mark B

Most of the Total Government Debt was accumulated by Repubs.

https://www.statesman.com/story/news...bt/5891161001/

No. This is more of a "depends how you measure it" item.

https://www.thebalance.com/us-debt-b...t-by-president

[finnbow]

Originally Posted by whell

No. This is more of a "depends how you measure it" item.

https://www.thebalance.com/us-debt-b...t-by-president

There is, however, no doubt that Democratic presidents have had to clean up the deficit messes that resulted from Republican presidents' supply-side policies and tax cuts, be it Reagan>Clinton, Dubya>Obama, and Trump>Biden.

[whell]

Originally Posted by finnbow

There is, however, no doubt that Democratic presidents have had to clean up the deficit messes that resulted from Republican presidents' supply-side policies and tax cuts, be it Reagan>Clinton, Dubya>Obama, and Trump>Biden.

Anyone can "blame" someone for something. It takes no intellectual energy to throw blame around. If I wanted to, for example, I could "blame" the dot-com bust on the greed to the Clinton years. Or the near - death economy of the 70's on Carter.

Biden inherited low unemployment, low inflation, low energy prices, and a vaccine for Covid. We now have stratospheric inflation, rising energy prices that started with his order to shut down Keystone, and more deaths from Covid than ever, and one wonders about the long-term impact on the job market of all this. If we believe in the blame game, Biden has ascribed most of this to "Putin's War". I'll go with that explanation.... Blame..... whatever....