The Biden Economy

[Chicks]

Originally Posted by whell

You're just wacky as hell, Chicklet. Gingrich was not "kicked out" of Congress. He elected not to run again. Yes, he was sanctioned by his peers for ethics violations, which contributed to his decision to resign from the Speakership and eventually from Congress.

You are so unimaginative, you take everything literally - no wonder you're an HR flunky, you have no creative ability whatsoever. He resigned to avoid the embarrassment of being booted - does that suit your literal mind?

[finnbow]

Originally Posted by Chicks

You are so unimaginative, you take everything literally - no wonder you're an HR flunky, you have no creative ability whatsoever. He resigned to avoid the embarrassment of being booted - does that suit your literal mind?

... to be followed by the resignation of the hypocrite Bob Livingston and his replacement by the child molester Dennis Hastert.

[whell]

Originally Posted by Chicks

You are so unimaginative, you take everything literally - no wonder you're an HR flunky, you have no creative ability whatsoever. He resigned to avoid the embarrassment of being booted - does that suit your literal mind?

Chickie - you post so much crap in this forum - including earlier in this thread - that you'll need to pardon me when I can't tell if you think you're being serious or when you're being your usual cantankerous self.

The fact remains that you specifically said that Gingrich was "kicked out of Congress." Your words above, I guess, are a "clarification" that he didn't get kicked out of Congress, but he "resigned to avoid the embarrassment" of being kicked out of congress.

That still doesn't suit my "literal mind" because it's still a lie. As I stated, Gingrich resigned as Speaker of the House, but he remained in Congress until the end of his term. He did not get "kicked out of Congress". He elected not to run.

The decision not to run again in was something that the NY Times described as a "surprise" at the time.

Catching virtually everyone on Capitol Hill by surprise, Mr. Gingrich announced tonight in two conference calls to other Republicans that he would not seek re-election as Speaker and would leave Congress when his term expired in January.

So, don't get your panties in a bunch if my "literal mind" points out that your "full of crap" mind is attempting to rewrite some history.

[finnbow]

Originally Posted by whell

Gingrich was a great "idea guy" ...

And his ideas, along with those of Roger Ailes and Rush Limbaugh, led to the extreme polarization and nastiness in our politics and ultimately to the transition of the GOP into a party of nihilists, liars, and unhinged conspiracy theorists that celebrated the election of a narcissistic traitor and career criminal like Trump.

[whell]

Originally Posted by finnbow

And his ideas, along with those of Roger Ailes and Rush Limbaugh, led to the extreme polarization and nastiness in our politics and ultimately to the transition of the GOP into a party of nihilists, liars, and unhinged conspiracy theorists that celebrated the election of a narcissistic traitor and career criminal like Trump.

Another attempted rewrite of history. I gotta hand it to you: you guys just keep the crap coming.

I've noticed that your best debate strategy is to lead with blame. This allows you to speak very little about your own ideas but joyfully castigate others for theirs. Convenient for you but, as exemplified by your post above, rather transparent.

The truth is that both conservatives and liberals have been migrating further from the political center, and it started before Fox News showed up. As shown here from an article in the Economist - not exactly a conservative mouthpiece - even as far back as 1980 the drift apart - a bit more pronounced on the left than the right - was already underway in those folks who were running for House seats. This study finds that polarization of Congress was already underway in the 1970's.

Another good article here from NPR with info from the left leaning Pew Research Center: https://www.npr.org/2021/11/09/10539...arty-heres-why.

You can spout the left-wing talking points that you might get from the view or Mother Jones, but it doesn't mean the talking points are factual.

[finnbow]

Originally Posted by whell

Another attempted rewrite of history...

Sorry if you can't handle the truth. I didn't realize (though I should have) that you have a man-crush on Gingrich.

[Chicks]

Biden has revived democratic capitalism – and changed the economic paradigm
https://amp.theguardian.com/commenti...an-free-market

[Chicks]

Yellen: 'You don't have a recession' when U.S. unemployment at 53-year low
https://finance.yahoo.com/news/yelle...132432963.html

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Monday said she saw a path for avoiding a U.S. recession, with inflation coming down significantly and the economy remaining strong, given the strength of the U.S. labor market.

"You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years," Yellen told ABC's Good Morning America program.

"What I see is a path in which inflation is declining significantly and the economy is remaining strong."

Yellen said inflation remained too high, but it had been falling for the past six months and could decline significantly given measures adopted by the Biden administration, including steps to reduce the cost of gasoline and prescription drugs.

U.S. Labor Department data released Friday showed job growth accelerated sharply in January, with nonfarm payrolls up by 517,000 jobs and the unemployment rate dropping to a 53-1/2-year low of 3.4%.

Thanks, Joe!

[whell]

Originally Posted by Chicks

Yellen: 'You don't have a recession' when U.S. unemployment at 53-year low
https://finance.yahoo.com/news/yelle...132432963.html

Thanks, Joe!

Before you get too celebratory over Yellen's comments, here's a little dose of reality. As the article states and as the Fed has stated ad nauseam, the Fed's target inflation rate is 2%. Thus, regardless of Yellen's rose-colored-glasses assessment, the Fed will remain aggressive while inflation remains above the target rate.

https://www.raymondjames.com/comment...mic-commentary


But this means that the Fed will have to keep the U.S. economy from growing above potential output, that is, no more than 1.8%, for a very long time and we hope that is not what is built into Fed officials’ expectations. Thus, we believe the Fed’s intention is to keep the economy weak in 2023 and 2024, so it can bring the average rate of inflation to 2% “over the longer run.”

I'm not rooting for a slow economy. I am pointing out that the Fed doesn't think we're out of the woods yet. The Fed has also stated that they don't know for sure if their continued throttling of the economy via interest rate hikes will have unintended consequences.

So, instead of saying "Thank you Joe", because his actions contributed to where we are now and I'm not convinced the so-called Inflation Reduction Act is anything more than inflationary government spending, maybe "We'll see Joe" is more in order at the present time.

[Chicks]

Heather Cox Richardson
February 6, 2023 (Monday)

The breathless attention paid to the balloon starved a story that mattered far more in the long term: the economy under Biden has shown extraordinary job growth—another 517,000 jobs added in January—and the unemployment rate is at a low that has not been seen since 1969 (not a typo). Inflation is dropping. Today, Carly Wanna at Bloomberg noted that since the Inflation Reduction Act became law, more than 100,000 clean energy jobs have been created in the U.S. After months of reports that we are on the brink of a recession, today Treasury Secretary Janet Yellen said the chances of a recession are low. “You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in 50 years,” she said.

This economic news is not a blip; it is proof that Biden’s revival of the traditional understanding of how the economy works, shared by both parties before the 1980 election of Ronald Reagan, works.

Biden has rejected the trickle-down economics of the Republicans, which is based in the idea that moving capital upward will prompt investment in the economy and help everyone. In its place he has revived the older idea that investing in ordinary Americans and infrastructure creates widespread prosperity. His plan is a reversal of 40 years of economic policy, and we need to pay attention to it.

Biden has been crystal clear about the meaning behind his policies and has challenged House speaker Kevin McCarthy (R-CA) to lay out for the American people his own policies in a proposed annual budget. Instead, McCarthy is obfuscating, mixing together the debt ceiling, on which Biden refuses to negotiate because it is about funding obligations already incurred—in large part under Trump—and the budget, on which Biden has said he’s quite happy to negotiate.

McCarthy can’t produce a budget because his conference cannot agree on the cuts they insist are imperative. Instead, Republicans are threatening to refuse to lift the debt ceiling, although they lifted it three times under Trump. That refusal would tank the economy just before the 2024 election.

A poll conducted by the Washington Post and ABC News, written up today in the Washington Post, shows that 62% of Americans think Biden has not accomplished much in his two years in office. In fact, his administration ranks as one of the most consequential since the New Deal in the 1930s. Whether you love what he’s done or hate it, to think nothing has happened suggests a terrible disconnect between image and reality. Today at a press briefing, reporters peppered White House Director of the National Economic Council Brian Deese with questions about why that disconnect exists. Washington Post columnist Jennifer Rubin later tweeted, “Ummm. Heal thyself!”

McCarthy: Whell's World.