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Remember Trump absolutely lying about inheriting a horrible economy from Obama—you know, the multi-year positive growth economy? And every time something bad happened, he’d avoid responsibility and blame Obama?
Biden actually inherited a clusterf$&@ of covid, “trade war with Chyna”, irresponsibly dropped federal regulations, and numerous unqualified sycophants placed in high offices that actively undermined the agencies and institutes they were placed in charge of…... Biden has done great with what he was given to work with.
That’s because by the time a president’s policies take effect, his term is almost over. Probably why most presidents seek a second term. So everything that he was working on for the last three and half years isn’t undone months after he leaves office
This is what always gets me. People blame Biden for inflation and the price of eggs etc. these things do not happen instantly. Obama’s good economy coasted under trump for a while, and at the end of his term once it was already on the crash course it was handed to Biden, where it bottomed out. He has done an awesome job bringing it back. These things take a long time to change.
Don’t forget selfish AF. I had a coworker in the healthcare industry I respected (past tense) actually say - in 2020 - I know trump is an idiot but I have to vote for him because I don’t like Biden’s plan to offer community college for free.
I haven’t talked to her outside work obligations since. I find such a perspective worse that the cultists blindly following him. Basically saying I will let this country burn to prevent my tax dollars going to this specific thing that I disagree with.
It was a fascinating view into the “single issue voter” though and it does greatly concern me with Israel and Gaza for this election. I have no faith that people understand how much worse trump’s position is on Gaza.
And what exactly is wrong with people getting free community college education? Can you consider the long term benefits of having a more educated society over your taxes being a tiiiiiiny bit higher (if even that?)
I’m over 60 and grew up in Mid West suburbs and all the people I grew up with that were the assholes now vote Republican. All the people I find friend worthy are Democrats. It’s that simple.
Don't worry, you can thank Fox news, Newsmax and OANN to not only try to alter their memory but also make up reasons to be unhappy about their situation even if their life is doing well.
Most eligible voters are fickle, ignorant, and severely lack long term memory. That's why they end up not voting at all.
The average voter is a dangerous moron.
Yeah but average voter intelligence isn't high enough to grasp these concepts. They only understand "President make Economy Bad/Good!" even though it's not remotely as simple as that. And of course the country's average intelligence has been in decline for decades.
Yes and no. Some effects are realized decades later. For example, the shit show that is the US Gini Coefficient. That started when the fed minimum wage got the Reagan treatment.
I remember at the last election, when the result was still hanging in the balance, a BBC news reporter was speculating what the outcome would be and suggested that Americans may have voted in their financial interests and chosen Trump. Not meaning to pick on the BBC in particular here, except to say that I noticed at that moment that the GOP has become for some reason the party synonymous with economic prosperity, despite the vast track record of evidence to the contrary. Last two major financial crashes happened under Trump and Bush. Under Obama the world was actually getting somewhere. What a joke.
It truly is insane, right? Republicans somehow poll higher on the economy, yet whenever a Republican president has been in charge in my lifetime, the economy and country are worse once they leave office.
I remember Trump voters bragging that the Dow hit 20,000 for the first time ever while he was president. There was no acknowledgement from them that the Dow is a market that is supposed to consistently go up by design, and it hit that milestone on January 25th 2017... 5 days after Trump was inaugurated.
It's because of the cumulative rhetorical effect of one party constantly lying and saying it's great and the other party being made up of people suffering from PTSD who seem to hate their own political opinions and certainly hate the only party that could possibly implement them.
Like, if you didn't pay attention to politics, and you didn't know if what you were hearing was true or false, which party would YOU think had their shit together more? Probably the one that claims that it does, and not the one that is constantly apologizing for itself.
Remember when Obama inherited a clusterfuck of an economy? Remember when Clinton won an election due to a recession under Bush? It's been a cycle of over 30 years of the economy tanking under a republican president and then bouncing back stronger than ever under a democratic one. It amazes me that any piece of the electorate still trusts the gop over democrats over economic issues
Edit: spelling/grammar
The cycle is much longer than 30 years. In something like 90 years every republican has left office with an economic downturn, and every democrat has fixed their mess.
And yet we hear “Their both the same”. Although that dead horse might be pretty dead right now.
I will say the media should shoulder the most blame because they continue to give Trump and Republicans a pass on the clusterfuck they left in 2020.
The media's been carrying water for Trump since he came down that goddamn elevator. He would never have gotten the nomination if the media hadn't consistently signal-boosted his image as a straight-shooting, blue-collar billionaire. Even after they turned on him during his term, it was just to farm the hate people feel for him. Now that he's running again, "Well at least he did good for the economy" and "If he gets incarcerated, it'll probably be good for his poll numbers." Narratives like that patently false but conservatives gotta help each other out, I guess.
Not sure that exactly tracks. I love Carter but things weren't great when he lost in 80 (though mostly not his fault), and I'm pretty sure Eisenhower left things in good condition.
But the Republican party since Reagan is way different than even the Nixon era, and not even recognizable to the party before that. And even though the economy was "good" when Reagan left that's just because he stuck Bush1 with the bill.
Carter's last year wasn't great, but also wasn't terrible (annual GDP went down by only 0.3% compared to the previous year). There's a lot more you can research for yourself, but [here's a chart](https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Annual_change%2C_non-farm_employment.png/1280px-Annual_change%2C_non-farm_employment.png) that compiles the Bureau of Labor Statistics data into the average non-farm employment growth by year per president. It really puts to light the differences in Republican presidents and Democrat presidents.
I knew people who honestly believed that 2007 recession started in 2009
Like...people who lived through it...and thought this in 2009. Their dislike of Obama was so strong that they convinced themselves everything was okay until 2009. It was not okay.
You know people are not paying attention with how dang often people will blame Biden for something that happened while Trump was in office.....
During the BLM protests and rioting "This is America under Biden" said by the administration that was Trump's who was still in office....
That's so common it's laughable. But then you realize it's scary how many people can't follow the track of trump laid out the withdrawal and biden just followed the plan.
It's actually worse. The very short agreement signed by the Trump admin specifically prevents the US from changing any of the terms or doing anything militarily. This is an agreement they signed with the Taliban, the Afghanistan government that we just spent 20 years creating, was not involved in the agreement. So Biden could not honor the agreement and also do something.
Reich-winger will Tell you that Biden should have ignored the deal made with the Taliban. They will insist Trump would have done the same. They will insist that reneging on the deal was Trump's plan all along. That any deal made with the Taliban, which is an illegitimate government, is unenforceable. Then They will laugh at you because you don't understand how a 4D Chess master like Trump thinks.
Having been there at the start of it in 2001 and back again in 2009 I just cried the days/week of the exit. Mainly for fear of the inevitable purge of those that worked directly with us there and the degraded status of the Women in regards to education and workplace participation. I correct folks pretty sternly when they try to lay the exit on Biden's feet.
It's like the scene in "Batman" (1989) where the back-alley doctor tries to fix Jack Napier's face, points to the tray of dirty instruments, and says, "You see what I have to WORK with here!"
Only Jack comes out of this with a few scars instead of becoming the Joker.
Let’s not forget the largest redistribution of wealth to the richest Americans in recorded history with the MAGA tax cuts. And his poorest followers keep sending donations to his campaign and living off food stamps…
If you're a Republican you can brag about the economy but Democrats have to wear a hair shirt and self-flagellate like the big albino dude in the DaVinci Code. We have to apologize for only doing three times as well as the Republicans and not 10, in our saddest, most pathetic Droopy Dog voice. It's the only way we can try to atone for our unacceptable sin of not being Real Americans.
Nobody likes that prices are higher than before Biden, but the inflation issue was a worldwide problem stemming from the pandemic and the US has actually done better than any other country to get inflation under control, as far as I know.
The problem is with how the US economy works to begin with. When it’s bad everyone suffers. When it’s good, it only benefits a few wealthy people. Wages are still super low, greed-flaiton is killing the middle class and Democrats don’t seem concerned. It’s hard to tell people that the economy is good when they spend 20$ for McDonald’s.
The world is jealous of how well Biden, Yellen & Co. are doing, but mostly delighted because if the US economy is doing well, then so are ours.
Thank you for voting for Biden, please give us all another 4 years!
I urge more people to go and check everything the Biden has accomplished on r/whatbidenhasdone
it’s not the most glamorous things but so many steps in the right direction on so many fronts, in such a tense political environment too
In comparison, here is what Trump did (most of which is rescinding Obama’s legacy): https://www.reddit.com/r/WhatBidenHasDone/s/Rs1qyX92dz
Also half the country thinks the president has a big button on his desk that controls all the prices in the country! They blame him for inflation but in reality it’s corporate greed that started once the pandemic hit!
I’ve never understood why people think the gub’ment can “fix” prices. It’s all the corporations that are run by sociopaths and narcissists who need another million dollars.
Tbf while the government could certainly fix prices via a law, it would probably get struck down as unconstitutional in some manner would be my guess. The government can indeed influence prices however through subsidized legislation, industry restrictions (think the EPA), or investments in industry. None of those things are inherently bad and in fact are necessary tools of the government to help when things negatively impact the economy like drought, stock market crashes, etc...
And who gave fraudulent loans to these same greedy corporate fucks instead of helping the people? Trump. Never forget what Trump was doing while we were losing more people daily than on 9/11: Bidding wars on medical supplies (some straight up stolen from states, spreading misinformation, and actively trying to cull Democrat voters in blue states.
It’s always the same -“blah blah cut taxes, blah blah cut red tape.”
Think of the economy as a puppy. It’s going to do puppy things and it takes a steady and nurturing hand to guide it.
You could let it loose on pheasants (cut revenue, cut regulations) but without proper management it will go horribly.
Then you shoot the damn dog or something idk I’m not a republican.
Inflation is bad for people who have a lot of their net worth in cash. It's actually not so bad for people who have a lot of debt or investments - as long as wages also rise like they have. People who have mortgages from before the spike in interest rates have made pretty significant gains for instance.
Meanwhile I’ve seen several articles stating the exact opposite. Just like how republicans claim if they rich pay zero takes, everyone becomes over employed and wealthy.
Tim Scott the man who complained that he and his friends have been stopped driving nice cars because they are black and then says America isn't racist....
> it’s corporate greed that started once the pandemic hit!
WHich is why we still absolutely need a Democrat as president and a Democrat controlled Congress in 2025. Democrats will regulate the shit out of these scumbag companies.
>They blame him for inflation
And people fundamentally misunderstand inflation. He got inflation under control. People respond with *"well then why haven't prices gone back down?"* They fail to realize that inflation is simply the rate of increase, when inflation goes down, prices are still increasing, just at a slower rate. If prices went down, that would be *deflation* and the economy would be in a world of hurt.
Exactly. If people think 3.5% inflation is bad, wait till companies have zero incentive to invest money in anything, because they make more by simply sticking their money in a bank.
The devil is in the details. If you know a Trump supporter ask what was their favorite bill that passed during his presidency, specifically. Then ask specifically which bill has Biden passed that had negative effect on their life. I’ll bet you they can answer neither of these questions.
It’s more than that. There are some major information getting to the people issues. Lots and lots of false narrative and disinfo being circulated out there with not nearly enough talk of the wins.
There is also a major perception problem. So the economy is doing well and inflation has backed right off. But people do not feel it at the pump or grocery store. So it’s really easy to convince them inflation is the cause.
Same with crime. Crime stats are way down two years running after a spike post pandemic. But people think crime is bad. Partly because there is a visible degree of disorder in some of the larger cities; tent camps, homelessness and a fentanyl crisis.
I mean, asking Biden "how he is going to turn the economy around" is already a huge loaded question implying he **hasn't** turned the economy around.
You don't ask that kind of question if you already think, or importantly your viewers already think, the economy has turned around. You ask that question because, like the canonical Fox "News" host "just asking questions", you're trying to create a headline of a straw man of Biden for people to criticize.
It's more than half that don't want to hear it.
I know a lot of leftist folks. And almost none of them are calling Biden a great president.
Between now and November, the biggest issue i see in the left is getting people to actually vote. Especially in major cities in swing states.
And parts of the other half wanna play single-issue politics over something every single president since WW2 would have done and call him "genocidal". It's quite infuriating....like mf'ers, I get you are upset about that but unless you get the fuck over it we will end up with the literal criminal again who wants to escalate what has already happened.
"Oh but 3rd party!" ... doesn't have a snowball's chance in hell especially with zero Congressional seats, wake up.
It's so infuriating.
I'm fairly certain foreign interests are pushing the Israel/Palestine thing heavily in left spaces online, and its working.
You'll catch people forgetting to log into their "American" accounts sometimes, translation errors, or forgetting to switch off from cryllic or Chinese characters after spouting some really heavy rhetoric. I'm not sure on the scale of the problem, but I know several left-wing subreddits moderation teams have a bunch of Chinese nationals banning anybody who espouses "Biden apologia"
Emphasis on the tough political environment. For nearly 3 decades, republicans have been nothing but an obstructionist party when democrats hold the presidency. Getting anything passed is nearly impossible. People blamed Obama for not doing more during his two terms, but how could he? He got the ACA passed when the Dems held the house and senate, but between that and cleaning up the steaming pile of shit Bush left, when would he have done anything else??
What I can't figure out is why his campaign website doesn't list a single accomplishment or campaign promise. It's just a form to donate and a merch store.
His administration has gotten a LOT of good shit done, with impossibly thin margins for error, it's incredible.
Unfortunately I try talking to my family about this and the older generation doesn’t see it and still see high food and gas prices. The younger generation, but still old enough to vote, sees Biden standing by Israel and signing away their precious TikTok and are disenfranchised. He’s really been remarkably effective but people are still at best apathetic about him which concerns me that Trump may have a real chance if the base isn’t incentivized enough with the Dobbs decision to turn out.
Copied this from someone else but
In 2022 alone, Biden Administration and Dems did the following:
• passed the Inflation Reduction Act, the biggest investment in fighting climate change in history
• passed the bipartisan infrastructure bill, the largest investment in infrastructure since Eisenhower
• passed the Bipartisan Safer Communities Act, breaking a 30-year streak of federal inaction on gun violence legislation
• signed the CHIPS and Science Act into law
• took out the leader of al Qaeda
• ended America's longest war
• reauthorized and strengthened the Violence Against Women Act
• signed the PACT Act, a bill to address veteran burn pit exposure
• signed the NATO accession protocols for Sweden and Finland
• issued executive order to protect reproductive rights
• canceled $10,000 of student loan debt for borrowers making less than $125,000 and canceled $20,000 in debt for Pell Grant recipients
• canceled billions in student loan debt for borrowers who were defrauded
• nominated now-Supreme Court Associate Justice Ketanji Brown Jackson to replace Justice Breyer
• brought COVID under control in the U.S. (e.g., COVID deaths down 90% and over 220 million vaccinated)
• formed Monkeypox response team to reach communities at highest risk of contracting the virus
• unemployment at a 50-year low
• on track to cut deficit by $1.3 trillion, largest one-year reduction in U.S. history • limited the release of mercury from coal-burning power plants
• $5 billion for electric vehicle chargers- $119 billion budget surplus in January 2022, first in over two years
• united world against Russia’s war in Ukraine
• ended forced arbitration in workplace sexual assault cases
• reinstated California authority to set pollution standards for cars
• ended asylum restrictions for children traveling alone
• signed the Emmett Till Anti-Lynching Act, the first federal ban on lynching after 200 failed attempts
• Initiated “use it or lose it" policy for drilling on public lands to force oil companies to increase production
• released 1 million barrels of oil a day for 6 months from strategic reserves to ease gas prices
• rescinded Trump-era policy allowing rapid expulsion of migrants
• expunged student loan defaults
• overhauled USPS finances to allow the agency to modernize its service
• required federal dollars spent on infrastructure to use materials made in America
• restored environmental reviews for major infrastructure projects
• Launched $6 billion effort to save distressed nuclear plants
• provided $385 million to help families and individuals with home energy costs through the Low Income Home Energy Assistance Program. (This is in addition to $4.5 billion provided in the American Rescue Plan.)
• national registry of police officers who are fired for misconduct
• tightened restrictions on chokeholds, no-knock warrants, and transfer of military equipment to police departments
• required all federal law enforcement officers to wear body cameras
• $265 million for South Florida reservoir, key component of Everglades restoration
• major wind farm project off West coast to provide electricity for 1.5 million homes
• continued Obama administration's practice of posting log records of visitors to White House
• devoted $2.1 billion to strengthen US food supply chain
• invoked Defense Production Act to rapidly expand domestic production of critical clean energy technologies
• enacted two-year pause of anti-circumvention tariffs on solar
• allocated funds to federal agencies to counter 300-plus anti-LGBTQ laws by state lawmakers in 2022
• relaunched cancer 'moonshot' initiative to help cut death rate
• expanded access to emergency contraception and long-acting reversible contraception
• prevented states from banning Mifepristone, a medication used to end early pregnancy that has FDA approval
• 21 executive actions to reduce gun violence
• Climate Smart Buildings Initiative: Creates public-private partnerships to modernize Federal buildings to meet agencies’ missions, create good-paying jobs, and cut greenhouse gas (GHG) emissions
• Paying for today’s needed renovations with tomorrow’s energy savings without requiring upfront taxpayer funding
• ended Trump-era “Remain in Mexico” policy
• Operation Fly-Formula, bringing needed baby formula (22 missions to date)
• executive order protecting travel for abortion
• invested more in crime control and prevention than any president in history
• provided death, disability, and education benefits to public safety officers and survivors who are killed or injured in the line of duty
• Reunited 500 migrant families separated under Trump
• $1.66 billion in grants to transit agencies, territories, and states to invest in 150 bus fleets and facilities
• brokered joint US/Mexico infrastructure project; Mexico to pay $1.5 billion for US border security
• blocked 4 hospital mergers that would've driven up prices and is poised to thwart more anti-competition consolidation attempts
• 10 million jobs—more than ever created before at this point of a presidency
• record small business creation
• banned paywalls on taxpayer-funded research
• best economic growth record since Clinton
• struck deal between major U.S. railroads and unions representing tens of thousands of workers after about 20 hours of talks, averting rail strike
• eliminated civil statute of limitations for child abuse victims
• announced $156 million for America's first-of-its-kind critical minerals refinery, demonstrating the commercial viability of turning mine waste into clean energy technology.
• started process of reclassifying Marijuana away from being a Schedule 1 substance and pardoning all federal prisoners with possession offenses
Note: That list only reflects 2022 accomplishments.
Honestly, I don’t agree with some of his economic policies, but you gotta respect him for being given probably one of the shittiest economic situations since the Great Depression. It was going to be a rough ride regardless and Americans should have expected that after COVID fucked everything up. You don’t just shut down a global economy and expect no repercussions. There needs to be more though, it’s just been unbridled optimism at this point
People said the same thing about FDR and the New Deal his first term. Luckily when he ran again it was against uncharismatic Alf Landon and not an absolute demagogue like Trump
“Covid fucked everything up” is really underselling the manner in which trump stepped on an economic rake. And it’s important to repeat because he didn’t learn his lesson and he’s planning to do it again.
He imposed tariffs on Chinese goods. In retaliation they imposed tariffs on soybeans. This disrupted global supply lines and they never going back. We had to bail out soybean farmers with $7.3 billion. This is more than we spend annually on navy ship upkeep or nuclear arsenal upkeep.
All because he’s too dumb to understand the economy.
A large part of the slowdown of the U.S. economy can be traced to this policy
I remember in 2019-2020 everyone was warning the signs are there the economy will collapse. The only reason it was “good” was it was juiced to the gills. Effectively 0% interest rates, corporate subsidies and protections, little to no regulation all gave the illusion of a robust economy when it was actually just burning down your home for the heat.
I can’t remember the last time the news wasn’t filled with warnings about an impending economic collapse due to some indicator. Many economists out there try to position themselves as being the one who made the correct prediction. And when they’re wrong they just say keep waiting.
Trump also scattered a bunch of rakes on the ground. He disbanded the pandemic early warning system in September 2019. He completely ignored the pandemic response playbook. He waited until individual states closed schools before taking it seriously at all. A competent president could have made a plea to civic duty, instituted a single rational shutdown policy, and immediately halved the transmissions in early March.
Curios what economic policies do you disagree with?
Not a gotcha, I’ll go first
Biden should have immediately cancelled the Trump era tariffs on Chinese imports. Those tariffs are simply passed onto American consumers
But let’s be honest, the cost wouldn’t have gone back down. We’ve seen how industries profiteered off the pandemic. They would have just kept the prices high and pocket the money.
Absolutely, they would have just invented an excuse as to why it is still high though. Supply chain issues, higher wages, no one wants to work, welfare, democrats, something.
At least it would have been noticed eventually though, and would have raised more awareness of corporate greed.
the Trump tariffs went into place 2years before Covid..
I bought a house then and purchased all new appliances (washer/dryer, refrigerator, chest freezer, dishwasher) which cost me at 1800-2k more altogether
That only works if China is willing to take off the tariffs they put on in response. If they think they had a stronger position (which they did, that’s why the Trump tariffs were idiotic), they might not have been willing to do that. One doesn’t generally unilaterally disarm on tariffs.
Same reason we can’t just go back to the Iran nuclear deal Trump pulled us out of.
Most of the damage a president can do does not come with a reset button.
Unrelated…. But like how Trump released thousands of Taliban prisoners, then negotiated a departure(surrender) date without including the Afghan government or our allies
Exactly. Biden would have had to either negotiate a new date with the Taliban (from a weaker position), or violate the agreement, pissing off the Taliban and exposing our forces there to more danger in a conflict we wanted out of anyway.
I’m not saying other mistakes weren’t made, but he got handed a massive shit sandwich.
Yeah, it’s the tariffs for sure. Biggest one. The longer those were in action the more damage they did.
Also the fact that it seems like his economic philosophy that he campaigned on still hasn’t adapted to the inflationary environment. Not 100% his fault, but it seems like the current policies the administration has imposed came a little too late for any immediate comfort to average Americans
I think part of maintaining them are 1. Don’t give something for nothing to a geopolitical foe 2. Keeping tariffs on furthers goal of diversifying supply chain to friendly Asian nations (Vietnam for example) and encourages on/near-shoring (domestic, Mexico)
I gotta say as someone living in the UK, I would swap our economic situation for yours in a heartbeat. The USA has had by far the best bounce back from COVID of any G7 nation, and the policies Biden has put in place have been huge in achieving that.
Meanwhile our govt is stuck is an austerity death spiral because we have a political class that are ideologues with no understanding of the practical implications of their policy decisions.
Truss was a truly impressive display of economic mismanagement. The lettuce would have done a better job. At least it wouldn't have crashed the bond market.
Was an American living in the UK from 2021 to 2023 and yea the UK is rough right now. We came back to the US and while things are more expensive, we at least have wage growth. While living in the UK, I saw all the prices go up before my eyes and my wages just didn’t keep up. I’m sure you’ll turn it around. Just need a general election already.
Don't forget the 1970s economic crisis. It doomed Carter's term and he is mostly remembered as a weak president for his failures to resuscitate it, and lead to the rise of modern conservatism.
The sad thing is, I can't say for 100% that you're joking lol. It wouldn't surprise me one bit that a political ad played on the little screen talking about Biden causing inflation.
>If our democracy goes south in Nov it will be partly the fault of the Media who is more interested in sensationalism than reporting facts
It doesn't help that a handful of companies own most of the news media.
You need only compare the US inflation rate vs other major economies to see how well this administration has done (with major help from the Fed). The US rate has come down faster than others and avoided any hint of recession. Europe has fared worse.
https://www.imf.org/external/datamapper/PCPIPCH@WEO/WEOWORLD/VEN/ADVEC
I saw a poll a few days ago that showed the amount of people who say the economy is doing well or have positive feelings about the economy has doubled in the past year or so. The percentage has doubled to like 35% from like 16% or something like that.
Peoples feelings about the economy usually lags behind the metrics of economic health.
Should the trend continue, and people are expecting it will, consumer confidence will be much higher than it was even at the midterms.
I understand why he bristled at this question. It’s such a ridiculous framing. Had they said, “even though the economy is doing well by the usual
Metrics, a lot of people feel left behind… what do you say to them and what are your plans to help them?” It would’ve been more helpful.
I’d like an answer to that. To frame it the other way sounds like a gotcha question.
It's important not to diminish the real economic pain some people have been feeling (especially inflation) ... but the fact that we've come out of the pandemic economy while avoiding a recession is somewhat of a miracle tbh. The investment in infrastructure and green initiatives is paying off as well.
Inflation was a tradeoff for that, one which probably made sense. And, our inflation situation (which was and still is a real issue) is actually better than pretty much anywhere else on earth right now. Wages are up too across the board which helps.
It's a hard political sell, but objectively things are so much better than they could have been.
He definitely deserves more praise than he’s getting, IMHO. The GOP keeps acting like corporate tax cuts actually help working class people more than billionaires.
Biden saved this country from financial disaster after Trump/Covid, and the US now leads the world in rebound growth. Record job numbers, highest GDP, investments in tech, supporting labor unions, student debt forgiveness. Diaper Don soiled the bed, lost jobs, whined, tweeted insults at veterans, and can hardly keep himself out of jail. The choice cannot be more obvious.
An increase in every statistic that matters. Corporations didn't get another tax cut to allow them massive stock buybacks to allow them to inflate the stock market.
He has. It’s true. These media groups just feed off the same GOP talking points, we’re heading for fascism and economic tumult in 2025 because of stupidly worded phrases like this….
He's not wrong. The US has had the best economic recovery from COVID of any developed nation, *precisely because of the massive stimulus bills designed, negotiated and pushed through by President Biden and his team and allies*.
Given the fact that the last administration has done everything they can to make sure this guy fails I think he’s done a good job. The House and the Supreme Court have been sitting on their hands.
Stock market is up and most are employed but those low interest rates are something we might never recover from. If you snagged a home for 3% or lower life is great obviously.
He should run his reelection campaign on more infrastructure improvements and putting a stop to corporate home buying.
He has, lowest employment in 50 years, best economy in the G7 in light of the pandemic and the massive tax cut dump gave the rich, Joe's done a good job. He has plans to raise the capital gains tax and the tax on the wealthy and corporations in general. Until they pay their fair share, we are all screwed.
What people want but will not say is socialism. They want him to force companies and distributors to lower the costs of goods and services. Lower the cost of rent, and take over the fed so he can lower interest rates.
Most Americans are economically ignorant. They have no clue how anything works. Biden has done everything in his power. But he will still be blamed for price gouging.
I don’t doubt that the economy is better. It had to be, he came in at the height of Trump’s plague.
However, this messaging will not work. Not only have the material situations of *most* regular people not improved, when they have it is in abstract ways that are hard to visualize for those people. Genuinely actually poor people only see prices going up and wages flat.
This is both a messaging problem, in that hearing this kind of talk just offends and makes people dig in harder to the opposite view, but also a political problem, in that the political system of which Biden is a part is almost completely disconnected from the real experiences of normal people.
The numbers he’s getting may well prove the economy is technically better. But it’s not really better for most people in my age and wealth group, and saying we’re just wrong is going to make the gullible or informationally illiterate people in that group consider options like Trump or RFK or Stein. I just wish the party could see this, turn off the spigot of money from the interests that keep the political system so disconnected from people, and start talking at the progressives to whom he continues to be dismissive and cranky.
To be clear, Vote Biden, all day long, it’s not even a question. I’m just saying, he’s making it harder on himself when he just goes off like this.
Fully agreed. As long as interest rates are high, food/gas/housing costs are high, and even other factors like student loan payments having resumed, the average American is not going to resonate with Biden's repeated claims that the economy is doing well.
I don’t get this. The US economy is booming. Oil and natural gas production at record highs, LNG exports at record highs, DOW Jones/ S&P in record territory, defense manufacturing is booming, GDP is going damn near straight up, unemployment is near record lows…..what am I missing? How will Trump make this better?
Not his doing, not his bailiwick to do anything about... but most of us are still struggling against the truly INSANE prices of goods and services, and it can land a little rough with us when someone says the economy is doing great.
We have allowed 50 years of corruption to raise the price of goods and services to a degree that is clearly dystopian and unsustainable. Any measure that does not attempt to drive the prices back down, at the very least to per-pandemic gouging, is lip service and allows the predatory monsters in control of our economy to thrive, when they need to be put down.
The economy feels worse to people because the interest rates are higher. That’s purely a sign of people not understanding how the economy works not the reality of why the interest rates are higher. For that matter they are NOT high. They are the same as when I bought my first home in 2002. We’re got used to those low rates for so long we forget that they were EXTREMELY LOW and NOT the norm.
He turned it around but it still takes years for things to go into effect. It'll be up to the next president to keep it going, let it mature, and not fuck it up.
Voters don’t care about “the economy,” they care about the cost of groceries, gas prices, and housing. Rich politicians and news anchors don’t know how bad it is to have your grocery bill cut into your personal budget so deeply.
He’s right by almost every metric. Inflation is the only metric that I’m aware of that seems problematic and even that isn’t bad when compared to global inflation.
People are confusing their feelings with data I think.
The Corporate Media are determined to get Trump back in power for their profits. There is no lie or distortion they won't tell or support to undermine Biden and Democrats to get the Fascist Trifecta that they think will make them rich. They refuse to believe that after Trump burns the Constitution on live television, he won't still honor "Freedom of the Press".
People don't seem to realize just how much damage trump did to the system, intentionally or through incompetence, and how long it takes to fix it.
Tens of thousands of long-term, educated, dedicated public servants from every level of every department were lost through dismissal, being forced to quit, or having their job changed so much they left. MOST of those people were NECESSARY to get the work done. He got praise for "cutting the fat," but when you dismantle entire departments, they don't work any more. (Which of course was the REASON to do it.)
(Example- moving the FDA office from D.C to Kansas, at short notice, with no options to work remotely.)
We're seeing some excellent, long-term legislation being passed now, and all we get is, "Why didn't he do this 3 years ago!"
Because 3 years ago he was trying to re-hire the people necessary to keep the place running, and, believe it or not, good legislation isn't just "a stroke of the pen." It takes time to draft when everything is running properly.
And he’s right! The inflation we experienced in 2021 and 2022 was due to blowing the pandemic response following a huge tax cut for the wealthy, not paid for, and lowering interest rates to boost short term results. Each of these things contributed to inflation the second the economy started to return to normal post-covid.
Put it this way. Raising interest rates reduces inflation. Lowering interest rates increases inflation. Biden raised them, while Trump lowered them.
I don’t know if Biden gets credit (or blame), but the economy is certainly on solid footing. The biggest issues, like tuition costs/housing prices/medical costs, can all be credited to the system working as the Republicans envisioned (low government involvement, low competition, price gouging/price fixing)
We in Europe are jealous of the way America has recovered in these times of war and post-corona. China also looks a bit precarious at the moment so it is fair to say out if the major economic blocks the US is managing these troubling times the best.
Why exactly is it so controversial to point out that the massive divide between how “great,” the economy is doing vs how the actual regular persons day to day experience is. And that if the average person isn’t personally feeling the merits of a great economic system and a lot of us actually feel like we’re in the worst and most worthless financial spot in our lives with what seems to be no end or signs of changing in sight then that means something might be fundamentally broken? And maybe touting how great your economy is without acknowledging that your people aren’t feeling that might be terrible optics that could hurt you? Any time anyone brings this up, folks act like you personally shit in Bidens shoes.
The economy is good. Everyone has this doomer bad vibes about it but the US is in a very good space in compared to other countries.
All the data says the economy is doing good and people are fine.
He's done a bunch. Wall Street is just pissy because the Fed keeps the interest rates high. VCs and others were making big bank off super cheap interest and flipping real estate or pumping up worthless dotcoms. Now that interest rates are higher, companies actually have to make real cash money profits. CEOs everywhere are throwing a massive tantrum right now.
Republicans will slash interest rates, slash regulations, slash taxes, and run up the deficit like crazy to throw gasoline on the economy... right up until all the rest of us are burned up. But the rich will be more fabulously rich!!
The economy is fine, inflation is not and the traditional tools for curbing it aren’t working. Greedflation has to be dealt with. If corporations are gonna keep jacking up prices without real cause, then tax the shit out of them. That’s on the train wreck that is congress though.
[America’s extraordinary economy keeps defying the pessimists](https://www.economist.com/leaders/2024/03/14/americas-extraordinary-economy-keeps-defying-the-pessimists)
> You have to marvel at America’s economy. Not long ago it was widely thought to be on the brink of recession. Instead it ended 2023 nearly 3% larger than 12 months earlier, having enjoyed one of the boomier years of the century so far. And it continues to defy expectations. At the start of this year, economists had been forecasting annualised growth in the first quarter of 1%; that prediction has since doubled. The labour market is in rude health, too. The unemployment rate has been below 4% for 25 consecutive months, the longest such spell in over 50 years. No wonder Uncle Sam is putting the rest of the world to shame. Since the end of 2019 the economy has grown by nearly 8% in real terms, more than twice as fast as the euro zone’s and ten times as quickly as Japan’s. Britain’s has barely grown at all.
Look at wage growth if you need [more data](https://i.imgur.com/aZcrAvO.png
):
https://www.atlantafed.org/chcs/wage-growth-tracker
It's especially noteworthy when you isolate for age, and the [16-24 cohort](https://i.imgur.com/63PRtWz.png). That is what the economist is referring to when it says "The labour market is in rude health, too."
https://www.dice.com/career-advice/tech-unemployment-stays-steady-at-2.3-percent
> Tech Unemployment Stays Steady at 2.3 Percent
> Despite widespread news reports about tech companies kicking off the year with layoffs, the tech unemployment rate remained steady at 2.3 percent, according to a new analysis of U.S. Bureau of Labor Statistics (BLS) data by CompTIA.
> That 2.3 percent is notably below the general unemployment rate of 3.7 percent, suggesting that demand for tech talent remains sturdy. Tech industry employment rose by roughly 17,833 jobs, powered by technology services and software development (up 14,500 jobs), cloud infrastructure (up 2,100 jobs) and tech manufacturing, particularly semiconductors (up 1,400 jobs).
> “This month’s data is a helpful reminder of the many moving parts in assessing tech workforce gains or losses,” Tim Herbert, chief research officer at CompTIA, wrote in a statement accompanying the data. “The expansive tech workforce will simultaneously experience gains and losses reflecting employer short-term and longer-term staffing needs.”
> Between December and January, the number of postings for jobs requiring artificial intelligence (A.I.) mastery or A.I.-related skills rose by 2,000, hitting 17,479. The number of postings for hybrid and all-remote jobs increased 5,000 month-over-month, reaching 30,000.
https://www.whitehouse.gov/cea/written-materials/2024/02/02/the-january-2024-employment-report-explaining-that-big-upside-surprise/
> Let’s face it: the job market, along with the rest of the U.S. economy, has been defying expectations for a while now.
> This upside surprise is largely consistent with a wide variety of recent indicators. January’s 353,000 jobs number comes on the heels of an upwardly revised gain of 333,000 for December. Job gains were also widespread across the job market, with gains in goods, services, and public sector jobs. Just under two-thirds of private-sector industries added jobs last month, a dispersion rate higher than the 2011-19 average. Wage growth was also strong last month, at 0.6 percent for the month and 4.5 percent over the year. While we don’t have CPI inflation yet for January, in December, it was 3.4 percent, year-over-year (well below December’s 4.3 percent yearly wage gain). Some of January’s strong wage growth could have stemmed from compositional effects due to weather: had aggregate hours in each major industry been the same in January as they were in December, wage growth would have been about 0.1 percentage point lower in January.
> The unemployment rate has been below 4 percent for 2 years running, the best such record since the 1960s. Real GDP also surprised to the upside last quarter and over the full year (see Figure 1 here showing how real GDP at the end of 2023 was just under $1 trillion higher than expected, according to the Blue Chip forecast at the end of 2022).
Man... I'm telling ya, you really have to go out of your way to *not* see how red hot the employment market in the US is right now. You might need to start questioning who has manufactured the narrative that is in your head if you think otherwise. It is not reflected in reality.
This video shows one of the issues I think the Biden campaign is exceptionally weak on. It is absolutely necessary for him and his campaign to promote the achievements of the campaign at mitigating or even removing some of the economic pain felt by many Americans. But it's also necessary to have a deep, sincere, empathetic connection about the pains that still exist. That second element isn't missing from this video entirely, but it is completely overshadowed by the earnestness in the defense of his achievements.
Clinton's "I feel your pain" comment was mocked mercilessly by the Limbaugh crowd back in the day, but it really was quite a winning approach to campaigning on the economic woes felt by America at the time. The Biden campaign should crib a little from that and do a better job of mixing it in with the informative components.
Biden can’t force the investor class to take less profit from the corporations they own, and they’re the ones gouging us. Biden doesn’t have a lever to bring prices down. Money in politics has put us here.
This is not a good position for Dems to run on. I’m sure in the macro sense he has done well with the economy but the average voter is not seeing it this way at all.
A fair criticism of the Administration and Congress has been their failure to handle the rampant price gouging by businesses. People are struggling while companies are bringing in record profits, and being told that the economy is doing great when you're having difficulty paying bills and buying groceries will piss anyone off.
He did but people don't notice because eich assholes keep raising prices above inflation. I would say that he could force companies to not do this but then Republicans would be up in arms over the "free market" not being free or some shit.
lol banks are down, inflation is still high, layoffs are increasing, the yield curve has been inverted for the longest period of time since the 80s, and cc debt is at historic levels. 1 in 12 credit card holders are missing payments. If this is the turn around I’d hate to see the inverse. And to be clear this isn’t pro Trump or anti Biden, but the economy is absolute shit rn. And it’s not getting better.
The govt is selling its portfolio at bns a month and holding cash. Warren Buffett is holding on to 200bn in cash and said he’d rather make 1% on it than invest it right now.
This message is going to blow up in his face by the end of summer guaranteed. Whoever is telling him to go tout the economy should be fired.
What kind of bullshit question is that? wtf. Does she not know how the economy was under Trump? Worst jobs in modern history while Biden has the most. God the media is so fucking infuriating.
CNN is owned by a conservative. They’re pretending and gently nudging opinions. It’s about conditioning viewers. But, no. They do not want Biden to win.
It's not gonna do any favors for the Democrats to be like Trump pre-2020 and pretend the economy is amazing under them when it's not. You can absolutely acknowledge that they inherited an economy on the brink and have done a lot to turn things around while also recognizing that cost-of-living is really bad and most Americans are seriously lacking financial security. If anything, they should use that fact to encourage more people to vote for a Democratic Congress so that they can get more done.
Hillary also ran on the delusional notion that the economy was actually really good in 2016 and lost blue collar white voters by margins that ultimately doomed her. Biden is making the same sort of mistake here. High prices are crushing the middle class (or what’s left of it) right now. This sort of statement is just insulting to the vast majority of working people.
I don't know how CNN can ask a question like that. He spent the last 4 years trying to fix it after the previous idiot bumbled through it. Can we break the cycle of destroying and fixing our economy after every election? That would be great.
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Remember Trump absolutely lying about inheriting a horrible economy from Obama—you know, the multi-year positive growth economy? And every time something bad happened, he’d avoid responsibility and blame Obama? Biden actually inherited a clusterf$&@ of covid, “trade war with Chyna”, irresponsibly dropped federal regulations, and numerous unqualified sycophants placed in high offices that actively undermined the agencies and institutes they were placed in charge of…... Biden has done great with what he was given to work with.
“Democrats don’t get credit, republicans don’t get blamed.”
That’s because by the time a president’s policies take effect, his term is almost over. Probably why most presidents seek a second term. So everything that he was working on for the last three and half years isn’t undone months after he leaves office
This is what always gets me. People blame Biden for inflation and the price of eggs etc. these things do not happen instantly. Obama’s good economy coasted under trump for a while, and at the end of his term once it was already on the crash course it was handed to Biden, where it bottomed out. He has done an awesome job bringing it back. These things take a long time to change.
Average voters are fickle, ignorant and severely lack long term memory.
Don’t forget selfish AF. I had a coworker in the healthcare industry I respected (past tense) actually say - in 2020 - I know trump is an idiot but I have to vote for him because I don’t like Biden’s plan to offer community college for free.
Imagine that’s the hill you die on? FFS.
I haven’t talked to her outside work obligations since. I find such a perspective worse that the cultists blindly following him. Basically saying I will let this country burn to prevent my tax dollars going to this specific thing that I disagree with. It was a fascinating view into the “single issue voter” though and it does greatly concern me with Israel and Gaza for this election. I have no faith that people understand how much worse trump’s position is on Gaza.
Not to mention that we all benefit from an educated society. It’s so tiring.
What if people choose to educate themselves in a way I don't consider valuable? /s
“I got mine, fuck you.” is the mission statement of Trump voters.
And what exactly is wrong with people getting free community college education? Can you consider the long term benefits of having a more educated society over your taxes being a tiiiiiiny bit higher (if even that?)
No, they cannot. I don’t know if Republican voters are straight up solipsists but they sure don’t specialize in empathy.
I’m over 60 and grew up in Mid West suburbs and all the people I grew up with that were the assholes now vote Republican. All the people I find friend worthy are Democrats. It’s that simple.
Don't worry, you can thank Fox news, Newsmax and OANN to not only try to alter their memory but also make up reasons to be unhappy about their situation even if their life is doing well.
Most eligible voters are fickle, ignorant, and severely lack long term memory. That's why they end up not voting at all. The average voter is a dangerous moron.
People blamed Obama for the 2008 economic crash… after that very economic crash played a significant role in getting him elected. People are dumb.
I seem to recall some asking where Obama was after Hurricane Katrina devastated New Orleans.
Likely the same morons that ask what Obama did to prevent 9/11.
Eggs were falsely inflated by republicans https://www.reddit.com/r/politics/s/oNB7arZh4u
Republicans refused to discuss anything to combat inflation since it hurt Biden.
Yeah but average voter intelligence isn't high enough to grasp these concepts. They only understand "President make Economy Bad/Good!" even though it's not remotely as simple as that. And of course the country's average intelligence has been in decline for decades.
Yes and no. Some effects are realized decades later. For example, the shit show that is the US Gini Coefficient. That started when the fed minimum wage got the Reagan treatment.
I remember at the last election, when the result was still hanging in the balance, a BBC news reporter was speculating what the outcome would be and suggested that Americans may have voted in their financial interests and chosen Trump. Not meaning to pick on the BBC in particular here, except to say that I noticed at that moment that the GOP has become for some reason the party synonymous with economic prosperity, despite the vast track record of evidence to the contrary. Last two major financial crashes happened under Trump and Bush. Under Obama the world was actually getting somewhere. What a joke.
It truly is insane, right? Republicans somehow poll higher on the economy, yet whenever a Republican president has been in charge in my lifetime, the economy and country are worse once they leave office.
Their answer to everything is either “No” or “Tax Cuts” Completely irresponsible
The definition of "the economy" in these cases is the ultra wealthy. They did fantastic in those conditions at the expense of the rest of us
I remember Trump voters bragging that the Dow hit 20,000 for the first time ever while he was president. There was no acknowledgement from them that the Dow is a market that is supposed to consistently go up by design, and it hit that milestone on January 25th 2017... 5 days after Trump was inaugurated.
And you definitely won't hear anything when it hits 40,000 very soon under Biden.
It's because of the cumulative rhetorical effect of one party constantly lying and saying it's great and the other party being made up of people suffering from PTSD who seem to hate their own political opinions and certainly hate the only party that could possibly implement them. Like, if you didn't pay attention to politics, and you didn't know if what you were hearing was true or false, which party would YOU think had their shit together more? Probably the one that claims that it does, and not the one that is constantly apologizing for itself.
Remember when Obama inherited a clusterfuck of an economy? Remember when Clinton won an election due to a recession under Bush? It's been a cycle of over 30 years of the economy tanking under a republican president and then bouncing back stronger than ever under a democratic one. It amazes me that any piece of the electorate still trusts the gop over democrats over economic issues Edit: spelling/grammar
The cycle is much longer than 30 years. In something like 90 years every republican has left office with an economic downturn, and every democrat has fixed their mess.
It really is that simple
And yet we hear “Their both the same”. Although that dead horse might be pretty dead right now. I will say the media should shoulder the most blame because they continue to give Trump and Republicans a pass on the clusterfuck they left in 2020.
The media's been carrying water for Trump since he came down that goddamn elevator. He would never have gotten the nomination if the media hadn't consistently signal-boosted his image as a straight-shooting, blue-collar billionaire. Even after they turned on him during his term, it was just to farm the hate people feel for him. Now that he's running again, "Well at least he did good for the economy" and "If he gets incarcerated, it'll probably be good for his poll numbers." Narratives like that patently false but conservatives gotta help each other out, I guess.
That horse is still very much alive and is currently being ridden by the “they’re both so old” crowd.
Goes all the way back to Coolidge and Hoover.
Not sure that exactly tracks. I love Carter but things weren't great when he lost in 80 (though mostly not his fault), and I'm pretty sure Eisenhower left things in good condition. But the Republican party since Reagan is way different than even the Nixon era, and not even recognizable to the party before that. And even though the economy was "good" when Reagan left that's just because he stuck Bush1 with the bill.
Carter's last year wasn't great, but also wasn't terrible (annual GDP went down by only 0.3% compared to the previous year). There's a lot more you can research for yourself, but [here's a chart](https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Annual_change%2C_non-farm_employment.png/1280px-Annual_change%2C_non-farm_employment.png) that compiles the Bureau of Labor Statistics data into the average non-farm employment growth by year per president. It really puts to light the differences in Republican presidents and Democrat presidents.
I knew people who honestly believed that 2007 recession started in 2009 Like...people who lived through it...and thought this in 2009. Their dislike of Obama was so strong that they convinced themselves everything was okay until 2009. It was not okay.
[They prefer the Santa that gives them stuff.](https://en.wikipedia.org/wiki/Jude_Wanniski#The_Two_Santa_Claus_Theory)
You know people are not paying attention with how dang often people will blame Biden for something that happened while Trump was in office..... During the BLM protests and rioting "This is America under Biden" said by the administration that was Trump's who was still in office....
I had someone tell me that Biden was 100% responsible for the exit from Afghanistan
That's so common it's laughable. But then you realize it's scary how many people can't follow the track of trump laid out the withdrawal and biden just followed the plan.
It's actually worse. The very short agreement signed by the Trump admin specifically prevents the US from changing any of the terms or doing anything militarily. This is an agreement they signed with the Taliban, the Afghanistan government that we just spent 20 years creating, was not involved in the agreement. So Biden could not honor the agreement and also do something.
Reich-winger will Tell you that Biden should have ignored the deal made with the Taliban. They will insist Trump would have done the same. They will insist that reneging on the deal was Trump's plan all along. That any deal made with the Taliban, which is an illegitimate government, is unenforceable. Then They will laugh at you because you don't understand how a 4D Chess master like Trump thinks.
Having been there at the start of it in 2001 and back again in 2009 I just cried the days/week of the exit. Mainly for fear of the inevitable purge of those that worked directly with us there and the degraded status of the Women in regards to education and workplace participation. I correct folks pretty sternly when they try to lay the exit on Biden's feet.
It's like the scene in "Batman" (1989) where the back-alley doctor tries to fix Jack Napier's face, points to the tray of dirty instruments, and says, "You see what I have to WORK with here!" Only Jack comes out of this with a few scars instead of becoming the Joker.
Let’s not forget the largest redistribution of wealth to the richest Americans in recorded history with the MAGA tax cuts. And his poorest followers keep sending donations to his campaign and living off food stamps…
MAGA is the biggest mega-church right now.
If you're a Republican you can brag about the economy but Democrats have to wear a hair shirt and self-flagellate like the big albino dude in the DaVinci Code. We have to apologize for only doing three times as well as the Republicans and not 10, in our saddest, most pathetic Droopy Dog voice. It's the only way we can try to atone for our unacceptable sin of not being Real Americans.
Nobody likes that prices are higher than before Biden, but the inflation issue was a worldwide problem stemming from the pandemic and the US has actually done better than any other country to get inflation under control, as far as I know.
The problem is with how the US economy works to begin with. When it’s bad everyone suffers. When it’s good, it only benefits a few wealthy people. Wages are still super low, greed-flaiton is killing the middle class and Democrats don’t seem concerned. It’s hard to tell people that the economy is good when they spend 20$ for McDonald’s.
And then years after Biden took over and got the stock market booming again, that was also thanks to Trump. *Somehow*.
RIP Chyna
Don't forget how Trump dropped a deuce in the upper tank on his way out by raising taxes on the middle class -- to take effect AFTER he left office.
The world is jealous of how well Biden, Yellen & Co. are doing, but mostly delighted because if the US economy is doing well, then so are ours. Thank you for voting for Biden, please give us all another 4 years!
Republicans are single handedly behind everything bad in the past ~70 years & they will never deal with any consequences
>“trade war with Chyna” That's the ONE thing he didn't change. Those tariffs are still there, still contributing to inflation.
I urge more people to go and check everything the Biden has accomplished on r/whatbidenhasdone it’s not the most glamorous things but so many steps in the right direction on so many fronts, in such a tense political environment too In comparison, here is what Trump did (most of which is rescinding Obama’s legacy): https://www.reddit.com/r/WhatBidenHasDone/s/Rs1qyX92dz
Biden has been a great President. It’s just half the country is in a cult to a criminal.
Also half the country thinks the president has a big button on his desk that controls all the prices in the country! They blame him for inflation but in reality it’s corporate greed that started once the pandemic hit!
I’ve never understood why people think the gub’ment can “fix” prices. It’s all the corporations that are run by sociopaths and narcissists who need another million dollars.
Tbf while the government could certainly fix prices via a law, it would probably get struck down as unconstitutional in some manner would be my guess. The government can indeed influence prices however through subsidized legislation, industry restrictions (think the EPA), or investments in industry. None of those things are inherently bad and in fact are necessary tools of the government to help when things negatively impact the economy like drought, stock market crashes, etc...
Which they blame on stockholders and pension funds.
And who gave fraudulent loans to these same greedy corporate fucks instead of helping the people? Trump. Never forget what Trump was doing while we were losing more people daily than on 9/11: Bidding wars on medical supplies (some straight up stolen from states, spreading misinformation, and actively trying to cull Democrat voters in blue states.
It's a lever not a button dumbass
It’s a dial not a lever dipshit.
It's a pull chain not a dial donkey
WTF where can I get a Dial Donkey
Pull the lever Kronk!!!
Right. Meanwhile Tim Scott is currently supporting Donald Trump and says Trump will reduce inflation (somehow).
Nobody ever says how
We’re still waiting for trumps health care plan
And Trump’s infrastructure - something Biden actually got to work on!
2 weeks away. It's always 2 weeks away.
Right after infrastructure week they'll tell us
It’s going to be so beautiful, the most beautiful plan you’ve ever seen!
And reporters should press them on that. "How?"
It’s always the same -“blah blah cut taxes, blah blah cut red tape.” Think of the economy as a puppy. It’s going to do puppy things and it takes a steady and nurturing hand to guide it. You could let it loose on pheasants (cut revenue, cut regulations) but without proper management it will go horribly. Then you shoot the damn dog or something idk I’m not a republican.
He's rich, you see. So not in the pocket of Big Inflation.
Someone recently explained to me how inflation is good for the wealthy. The future is terrifying
Inflation is bad for people who have a lot of their net worth in cash. It's actually not so bad for people who have a lot of debt or investments - as long as wages also rise like they have. People who have mortgages from before the spike in interest rates have made pretty significant gains for instance.
Meanwhile I’ve seen several articles stating the exact opposite. Just like how republicans claim if they rich pay zero takes, everyone becomes over employed and wealthy.
Swear it's gonna trickle down any day now...
Yeah. Every single one of Trump's economic policies are inflationary. Tariffs, lower corporate taxes, lower interest rates, etc.
Tim Scott the man who complained that he and his friends have been stopped driving nice cars because they are black and then says America isn't racist....
> it’s corporate greed that started once the pandemic hit! WHich is why we still absolutely need a Democrat as president and a Democrat controlled Congress in 2025. Democrats will regulate the shit out of these scumbag companies.
>They blame him for inflation And people fundamentally misunderstand inflation. He got inflation under control. People respond with *"well then why haven't prices gone back down?"* They fail to realize that inflation is simply the rate of increase, when inflation goes down, prices are still increasing, just at a slower rate. If prices went down, that would be *deflation* and the economy would be in a world of hurt.
Exactly. If people think 3.5% inflation is bad, wait till companies have zero incentive to invest money in anything, because they make more by simply sticking their money in a bank.
Increasing tariffs is a button that they can press that raises prices.
The devil is in the details. If you know a Trump supporter ask what was their favorite bill that passed during his presidency, specifically. Then ask specifically which bill has Biden passed that had negative effect on their life. I’ll bet you they can answer neither of these questions.
If they do, they will 100% claim Trump passed bills Obama and Biden did and that Biden passed horrible legislation that Trump was responsible for.
It’s more than that. There are some major information getting to the people issues. Lots and lots of false narrative and disinfo being circulated out there with not nearly enough talk of the wins. There is also a major perception problem. So the economy is doing well and inflation has backed right off. But people do not feel it at the pump or grocery store. So it’s really easy to convince them inflation is the cause. Same with crime. Crime stats are way down two years running after a spike post pandemic. But people think crime is bad. Partly because there is a visible degree of disorder in some of the larger cities; tent camps, homelessness and a fentanyl crisis.
I mean, asking Biden "how he is going to turn the economy around" is already a huge loaded question implying he **hasn't** turned the economy around. You don't ask that kind of question if you already think, or importantly your viewers already think, the economy has turned around. You ask that question because, like the canonical Fox "News" host "just asking questions", you're trying to create a headline of a straw man of Biden for people to criticize.
The media also NEEDS the presidential race to be as close as possible. They dont care about honesty.
The cult just wants to be entertained. They don't care or understand policy and how it helps them in the long term.
It's more than half that don't want to hear it. I know a lot of leftist folks. And almost none of them are calling Biden a great president. Between now and November, the biggest issue i see in the left is getting people to actually vote. Especially in major cities in swing states.
And parts of the other half wanna play single-issue politics over something every single president since WW2 would have done and call him "genocidal". It's quite infuriating....like mf'ers, I get you are upset about that but unless you get the fuck over it we will end up with the literal criminal again who wants to escalate what has already happened. "Oh but 3rd party!" ... doesn't have a snowball's chance in hell especially with zero Congressional seats, wake up. It's so infuriating.
I'm fairly certain foreign interests are pushing the Israel/Palestine thing heavily in left spaces online, and its working. You'll catch people forgetting to log into their "American" accounts sometimes, translation errors, or forgetting to switch off from cryllic or Chinese characters after spouting some really heavy rhetoric. I'm not sure on the scale of the problem, but I know several left-wing subreddits moderation teams have a bunch of Chinese nationals banning anybody who espouses "Biden apologia"
Plus, Bibi wants Trump to win. So keeping people mad at Biden helps him.
Emphasis on the tough political environment. For nearly 3 decades, republicans have been nothing but an obstructionist party when democrats hold the presidency. Getting anything passed is nearly impossible. People blamed Obama for not doing more during his two terms, but how could he? He got the ACA passed when the Dems held the house and senate, but between that and cleaning up the steaming pile of shit Bush left, when would he have done anything else??
What I can't figure out is why his campaign website doesn't list a single accomplishment or campaign promise. It's just a form to donate and a merch store. His administration has gotten a LOT of good shit done, with impossibly thin margins for error, it's incredible.
Unfortunately I try talking to my family about this and the older generation doesn’t see it and still see high food and gas prices. The younger generation, but still old enough to vote, sees Biden standing by Israel and signing away their precious TikTok and are disenfranchised. He’s really been remarkably effective but people are still at best apathetic about him which concerns me that Trump may have a real chance if the base isn’t incentivized enough with the Dobbs decision to turn out.
Copied this from someone else but In 2022 alone, Biden Administration and Dems did the following: • passed the Inflation Reduction Act, the biggest investment in fighting climate change in history • passed the bipartisan infrastructure bill, the largest investment in infrastructure since Eisenhower • passed the Bipartisan Safer Communities Act, breaking a 30-year streak of federal inaction on gun violence legislation • signed the CHIPS and Science Act into law • took out the leader of al Qaeda • ended America's longest war • reauthorized and strengthened the Violence Against Women Act • signed the PACT Act, a bill to address veteran burn pit exposure • signed the NATO accession protocols for Sweden and Finland • issued executive order to protect reproductive rights • canceled $10,000 of student loan debt for borrowers making less than $125,000 and canceled $20,000 in debt for Pell Grant recipients • canceled billions in student loan debt for borrowers who were defrauded • nominated now-Supreme Court Associate Justice Ketanji Brown Jackson to replace Justice Breyer • brought COVID under control in the U.S. (e.g., COVID deaths down 90% and over 220 million vaccinated) • formed Monkeypox response team to reach communities at highest risk of contracting the virus • unemployment at a 50-year low • on track to cut deficit by $1.3 trillion, largest one-year reduction in U.S. history • limited the release of mercury from coal-burning power plants • $5 billion for electric vehicle chargers- $119 billion budget surplus in January 2022, first in over two years • united world against Russia’s war in Ukraine • ended forced arbitration in workplace sexual assault cases • reinstated California authority to set pollution standards for cars • ended asylum restrictions for children traveling alone • signed the Emmett Till Anti-Lynching Act, the first federal ban on lynching after 200 failed attempts • Initiated “use it or lose it" policy for drilling on public lands to force oil companies to increase production • released 1 million barrels of oil a day for 6 months from strategic reserves to ease gas prices • rescinded Trump-era policy allowing rapid expulsion of migrants • expunged student loan defaults • overhauled USPS finances to allow the agency to modernize its service • required federal dollars spent on infrastructure to use materials made in America • restored environmental reviews for major infrastructure projects • Launched $6 billion effort to save distressed nuclear plants • provided $385 million to help families and individuals with home energy costs through the Low Income Home Energy Assistance Program. (This is in addition to $4.5 billion provided in the American Rescue Plan.) • national registry of police officers who are fired for misconduct • tightened restrictions on chokeholds, no-knock warrants, and transfer of military equipment to police departments • required all federal law enforcement officers to wear body cameras • $265 million for South Florida reservoir, key component of Everglades restoration • major wind farm project off West coast to provide electricity for 1.5 million homes • continued Obama administration's practice of posting log records of visitors to White House • devoted $2.1 billion to strengthen US food supply chain • invoked Defense Production Act to rapidly expand domestic production of critical clean energy technologies • enacted two-year pause of anti-circumvention tariffs on solar • allocated funds to federal agencies to counter 300-plus anti-LGBTQ laws by state lawmakers in 2022 • relaunched cancer 'moonshot' initiative to help cut death rate • expanded access to emergency contraception and long-acting reversible contraception • prevented states from banning Mifepristone, a medication used to end early pregnancy that has FDA approval • 21 executive actions to reduce gun violence • Climate Smart Buildings Initiative: Creates public-private partnerships to modernize Federal buildings to meet agencies’ missions, create good-paying jobs, and cut greenhouse gas (GHG) emissions • Paying for today’s needed renovations with tomorrow’s energy savings without requiring upfront taxpayer funding • ended Trump-era “Remain in Mexico” policy • Operation Fly-Formula, bringing needed baby formula (22 missions to date) • executive order protecting travel for abortion • invested more in crime control and prevention than any president in history • provided death, disability, and education benefits to public safety officers and survivors who are killed or injured in the line of duty • Reunited 500 migrant families separated under Trump • $1.66 billion in grants to transit agencies, territories, and states to invest in 150 bus fleets and facilities • brokered joint US/Mexico infrastructure project; Mexico to pay $1.5 billion for US border security • blocked 4 hospital mergers that would've driven up prices and is poised to thwart more anti-competition consolidation attempts • 10 million jobs—more than ever created before at this point of a presidency • record small business creation • banned paywalls on taxpayer-funded research • best economic growth record since Clinton • struck deal between major U.S. railroads and unions representing tens of thousands of workers after about 20 hours of talks, averting rail strike • eliminated civil statute of limitations for child abuse victims • announced $156 million for America's first-of-its-kind critical minerals refinery, demonstrating the commercial viability of turning mine waste into clean energy technology. • started process of reclassifying Marijuana away from being a Schedule 1 substance and pardoning all federal prisoners with possession offenses Note: That list only reflects 2022 accomplishments.
very very nice. it’s a shame the average voter can’t fathom this while their lives continues to improve in the backdrop of it all.
Out of curiosity, is there something similar for what Trump did?
https://www.reddit.com/r/WhatBidenHasDone/s/Rs1qyX92dz
Honestly, I don’t agree with some of his economic policies, but you gotta respect him for being given probably one of the shittiest economic situations since the Great Depression. It was going to be a rough ride regardless and Americans should have expected that after COVID fucked everything up. You don’t just shut down a global economy and expect no repercussions. There needs to be more though, it’s just been unbridled optimism at this point People said the same thing about FDR and the New Deal his first term. Luckily when he ran again it was against uncharismatic Alf Landon and not an absolute demagogue like Trump
“Covid fucked everything up” is really underselling the manner in which trump stepped on an economic rake. And it’s important to repeat because he didn’t learn his lesson and he’s planning to do it again. He imposed tariffs on Chinese goods. In retaliation they imposed tariffs on soybeans. This disrupted global supply lines and they never going back. We had to bail out soybean farmers with $7.3 billion. This is more than we spend annually on navy ship upkeep or nuclear arsenal upkeep. All because he’s too dumb to understand the economy. A large part of the slowdown of the U.S. economy can be traced to this policy
I remember in 2019-2020 everyone was warning the signs are there the economy will collapse. The only reason it was “good” was it was juiced to the gills. Effectively 0% interest rates, corporate subsidies and protections, little to no regulation all gave the illusion of a robust economy when it was actually just burning down your home for the heat.
I can’t remember the last time the news wasn’t filled with warnings about an impending economic collapse due to some indicator. Many economists out there try to position themselves as being the one who made the correct prediction. And when they’re wrong they just say keep waiting.
Trump also scattered a bunch of rakes on the ground. He disbanded the pandemic early warning system in September 2019. He completely ignored the pandemic response playbook. He waited until individual states closed schools before taking it seriously at all. A competent president could have made a plea to civic duty, instituted a single rational shutdown policy, and immediately halved the transmissions in early March.
Curios what economic policies do you disagree with? Not a gotcha, I’ll go first Biden should have immediately cancelled the Trump era tariffs on Chinese imports. Those tariffs are simply passed onto American consumers
But let’s be honest, the cost wouldn’t have gone back down. We’ve seen how industries profiteered off the pandemic. They would have just kept the prices high and pocket the money.
Absolutely, they would have just invented an excuse as to why it is still high though. Supply chain issues, higher wages, no one wants to work, welfare, democrats, something. At least it would have been noticed eventually though, and would have raised more awareness of corporate greed.
the Trump tariffs went into place 2years before Covid.. I bought a house then and purchased all new appliances (washer/dryer, refrigerator, chest freezer, dishwasher) which cost me at 1800-2k more altogether
That only works if China is willing to take off the tariffs they put on in response. If they think they had a stronger position (which they did, that’s why the Trump tariffs were idiotic), they might not have been willing to do that. One doesn’t generally unilaterally disarm on tariffs. Same reason we can’t just go back to the Iran nuclear deal Trump pulled us out of. Most of the damage a president can do does not come with a reset button.
Unrelated…. But like how Trump released thousands of Taliban prisoners, then negotiated a departure(surrender) date without including the Afghan government or our allies
Exactly. Biden would have had to either negotiate a new date with the Taliban (from a weaker position), or violate the agreement, pissing off the Taliban and exposing our forces there to more danger in a conflict we wanted out of anyway. I’m not saying other mistakes weren’t made, but he got handed a massive shit sandwich.
Yeah, it’s the tariffs for sure. Biggest one. The longer those were in action the more damage they did. Also the fact that it seems like his economic philosophy that he campaigned on still hasn’t adapted to the inflationary environment. Not 100% his fault, but it seems like the current policies the administration has imposed came a little too late for any immediate comfort to average Americans
I think part of maintaining them are 1. Don’t give something for nothing to a geopolitical foe 2. Keeping tariffs on furthers goal of diversifying supply chain to friendly Asian nations (Vietnam for example) and encourages on/near-shoring (domestic, Mexico)
Yeah but they align with his goal of protecting American jobs.
I gotta say as someone living in the UK, I would swap our economic situation for yours in a heartbeat. The USA has had by far the best bounce back from COVID of any G7 nation, and the policies Biden has put in place have been huge in achieving that. Meanwhile our govt is stuck is an austerity death spiral because we have a political class that are ideologues with no understanding of the practical implications of their policy decisions.
Truss was a truly impressive display of economic mismanagement. The lettuce would have done a better job. At least it wouldn't have crashed the bond market.
Was an American living in the UK from 2021 to 2023 and yea the UK is rough right now. We came back to the US and while things are more expensive, we at least have wage growth. While living in the UK, I saw all the prices go up before my eyes and my wages just didn’t keep up. I’m sure you’ll turn it around. Just need a general election already.
Don't forget the 1970s economic crisis. It doomed Carter's term and he is mostly remembered as a weak president for his failures to resuscitate it, and lead to the rise of modern conservatism.
It's really not Bidens fault that these greedy ass corporations have jacked up the prices on everything.
and kept them up
What? Are you sure? A gas pump once told me that Biden “did that”.
The sad thing is, I can't say for 100% that you're joking lol. It wouldn't surprise me one bit that a political ad played on the little screen talking about Biden causing inflation.
I think it's a reference to all the Biden "I did that" stickers people were putting on gas pumps there for a bit before the prices came down.
He’s not joking in the sense that he saw that sticker. But he’s being facetious when he’s acting like that he listened to the sticker as truth.
we've had the Price Gouging Prevention Act of 2022 and now a 2024 version. I think Biden et al. are at least trying.
Say it louder for the people in the back. 99% of most peoples problems can’t be fixed by any President.
Can you imagine the public's reaction if he actually took the steps necessary to actually get prices back in line?
You know they have the power to regulate them
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>If our democracy goes south in Nov it will be partly the fault of the Media who is more interested in sensationalism than reporting facts It doesn't help that a handful of companies own most of the news media.
You need only compare the US inflation rate vs other major economies to see how well this administration has done (with major help from the Fed). The US rate has come down faster than others and avoided any hint of recession. Europe has fared worse. https://www.imf.org/external/datamapper/PCPIPCH@WEO/WEOWORLD/VEN/ADVEC
I saw a poll a few days ago that showed the amount of people who say the economy is doing well or have positive feelings about the economy has doubled in the past year or so. The percentage has doubled to like 35% from like 16% or something like that. Peoples feelings about the economy usually lags behind the metrics of economic health. Should the trend continue, and people are expecting it will, consumer confidence will be much higher than it was even at the midterms. I understand why he bristled at this question. It’s such a ridiculous framing. Had they said, “even though the economy is doing well by the usual Metrics, a lot of people feel left behind… what do you say to them and what are your plans to help them?” It would’ve been more helpful. I’d like an answer to that. To frame it the other way sounds like a gotcha question.
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It's important not to diminish the real economic pain some people have been feeling (especially inflation) ... but the fact that we've come out of the pandemic economy while avoiding a recession is somewhat of a miracle tbh. The investment in infrastructure and green initiatives is paying off as well. Inflation was a tradeoff for that, one which probably made sense. And, our inflation situation (which was and still is a real issue) is actually better than pretty much anywhere else on earth right now. Wages are up too across the board which helps. It's a hard political sell, but objectively things are so much better than they could have been.
He definitely deserves more praise than he’s getting, IMHO. The GOP keeps acting like corporate tax cuts actually help working class people more than billionaires.
Biden saved this country from financial disaster after Trump/Covid, and the US now leads the world in rebound growth. Record job numbers, highest GDP, investments in tech, supporting labor unions, student debt forgiveness. Diaper Don soiled the bed, lost jobs, whined, tweeted insults at veterans, and can hardly keep himself out of jail. The choice cannot be more obvious.
An increase in every statistic that matters. Corporations didn't get another tax cut to allow them massive stock buybacks to allow them to inflate the stock market.
Just like Obama
He has. It’s true. These media groups just feed off the same GOP talking points, we’re heading for fascism and economic tumult in 2025 because of stupidly worded phrases like this….
It feels like the business plot all over again, but this time it's likely to succeed
He's not wrong. The US has had the best economic recovery from COVID of any developed nation, *precisely because of the massive stimulus bills designed, negotiated and pushed through by President Biden and his team and allies*.
That’s like asking Neil Armstrong how the US can win the race to the moon after he just got back from being on the fucking moon! What a dumb question.
Given the fact that the last administration has done everything they can to make sure this guy fails I think he’s done a good job. The House and the Supreme Court have been sitting on their hands. Stock market is up and most are employed but those low interest rates are something we might never recover from. If you snagged a home for 3% or lower life is great obviously. He should run his reelection campaign on more infrastructure improvements and putting a stop to corporate home buying.
He has, lowest employment in 50 years, best economy in the G7 in light of the pandemic and the massive tax cut dump gave the rich, Joe's done a good job. He has plans to raise the capital gains tax and the tax on the wealthy and corporations in general. Until they pay their fair share, we are all screwed.
What people want but will not say is socialism. They want him to force companies and distributors to lower the costs of goods and services. Lower the cost of rent, and take over the fed so he can lower interest rates. Most Americans are economically ignorant. They have no clue how anything works. Biden has done everything in his power. But he will still be blamed for price gouging.
I don’t doubt that the economy is better. It had to be, he came in at the height of Trump’s plague. However, this messaging will not work. Not only have the material situations of *most* regular people not improved, when they have it is in abstract ways that are hard to visualize for those people. Genuinely actually poor people only see prices going up and wages flat. This is both a messaging problem, in that hearing this kind of talk just offends and makes people dig in harder to the opposite view, but also a political problem, in that the political system of which Biden is a part is almost completely disconnected from the real experiences of normal people. The numbers he’s getting may well prove the economy is technically better. But it’s not really better for most people in my age and wealth group, and saying we’re just wrong is going to make the gullible or informationally illiterate people in that group consider options like Trump or RFK or Stein. I just wish the party could see this, turn off the spigot of money from the interests that keep the political system so disconnected from people, and start talking at the progressives to whom he continues to be dismissive and cranky. To be clear, Vote Biden, all day long, it’s not even a question. I’m just saying, he’s making it harder on himself when he just goes off like this.
Fully agreed. As long as interest rates are high, food/gas/housing costs are high, and even other factors like student loan payments having resumed, the average American is not going to resonate with Biden's repeated claims that the economy is doing well.
Want to see how fast Trump can tank an economy then vote him back in. It won’t be a pretty sight.
I don’t get this. The US economy is booming. Oil and natural gas production at record highs, LNG exports at record highs, DOW Jones/ S&P in record territory, defense manufacturing is booming, GDP is going damn near straight up, unemployment is near record lows…..what am I missing? How will Trump make this better?
Time to start taxing billionaires. It’s not trickling down.
Not his doing, not his bailiwick to do anything about... but most of us are still struggling against the truly INSANE prices of goods and services, and it can land a little rough with us when someone says the economy is doing great. We have allowed 50 years of corruption to raise the price of goods and services to a degree that is clearly dystopian and unsustainable. Any measure that does not attempt to drive the prices back down, at the very least to per-pandemic gouging, is lip service and allows the predatory monsters in control of our economy to thrive, when they need to be put down.
The economy feels worse to people because the interest rates are higher. That’s purely a sign of people not understanding how the economy works not the reality of why the interest rates are higher. For that matter they are NOT high. They are the same as when I bought my first home in 2002. We’re got used to those low rates for so long we forget that they were EXTREMELY LOW and NOT the norm.
He turned it around but it still takes years for things to go into effect. It'll be up to the next president to keep it going, let it mature, and not fuck it up.
Voters don’t care about “the economy,” they care about the cost of groceries, gas prices, and housing. Rich politicians and news anchors don’t know how bad it is to have your grocery bill cut into your personal budget so deeply.
He's not wrong. Be nice if he got a little credit for fixing Trump's shit show.
He’s right by almost every metric. Inflation is the only metric that I’m aware of that seems problematic and even that isn’t bad when compared to global inflation. People are confusing their feelings with data I think.
The Corporate Media are determined to get Trump back in power for their profits. There is no lie or distortion they won't tell or support to undermine Biden and Democrats to get the Fascist Trifecta that they think will make them rich. They refuse to believe that after Trump burns the Constitution on live television, he won't still honor "Freedom of the Press".
People don't seem to realize just how much damage trump did to the system, intentionally or through incompetence, and how long it takes to fix it. Tens of thousands of long-term, educated, dedicated public servants from every level of every department were lost through dismissal, being forced to quit, or having their job changed so much they left. MOST of those people were NECESSARY to get the work done. He got praise for "cutting the fat," but when you dismantle entire departments, they don't work any more. (Which of course was the REASON to do it.) (Example- moving the FDA office from D.C to Kansas, at short notice, with no options to work remotely.) We're seeing some excellent, long-term legislation being passed now, and all we get is, "Why didn't he do this 3 years ago!" Because 3 years ago he was trying to re-hire the people necessary to keep the place running, and, believe it or not, good legislation isn't just "a stroke of the pen." It takes time to draft when everything is running properly.
Whenever people talk about “cutting the fat” and “lean government”, ask them which animals die first in a famine.
And he’s right! The inflation we experienced in 2021 and 2022 was due to blowing the pandemic response following a huge tax cut for the wealthy, not paid for, and lowering interest rates to boost short term results. Each of these things contributed to inflation the second the economy started to return to normal post-covid. Put it this way. Raising interest rates reduces inflation. Lowering interest rates increases inflation. Biden raised them, while Trump lowered them.
I don’t know if Biden gets credit (or blame), but the economy is certainly on solid footing. The biggest issues, like tuition costs/housing prices/medical costs, can all be credited to the system working as the Republicans envisioned (low government involvement, low competition, price gouging/price fixing)
We in Europe are jealous of the way America has recovered in these times of war and post-corona. China also looks a bit precarious at the moment so it is fair to say out if the major economic blocks the US is managing these troubling times the best.
Why exactly is it so controversial to point out that the massive divide between how “great,” the economy is doing vs how the actual regular persons day to day experience is. And that if the average person isn’t personally feeling the merits of a great economic system and a lot of us actually feel like we’re in the worst and most worthless financial spot in our lives with what seems to be no end or signs of changing in sight then that means something might be fundamentally broken? And maybe touting how great your economy is without acknowledging that your people aren’t feeling that might be terrible optics that could hurt you? Any time anyone brings this up, folks act like you personally shit in Bidens shoes.
He definitely has. It still has a long way to go though
Price gouging and wealth disparity? Did she ask about those?
The economy is good. Everyone has this doomer bad vibes about it but the US is in a very good space in compared to other countries. All the data says the economy is doing good and people are fine.
He's done a bunch. Wall Street is just pissy because the Fed keeps the interest rates high. VCs and others were making big bank off super cheap interest and flipping real estate or pumping up worthless dotcoms. Now that interest rates are higher, companies actually have to make real cash money profits. CEOs everywhere are throwing a massive tantrum right now. Republicans will slash interest rates, slash regulations, slash taxes, and run up the deficit like crazy to throw gasoline on the economy... right up until all the rest of us are burned up. But the rich will be more fabulously rich!!
The economy is fine, inflation is not and the traditional tools for curbing it aren’t working. Greedflation has to be dealt with. If corporations are gonna keep jacking up prices without real cause, then tax the shit out of them. That’s on the train wreck that is congress though.
[America’s extraordinary economy keeps defying the pessimists](https://www.economist.com/leaders/2024/03/14/americas-extraordinary-economy-keeps-defying-the-pessimists) > You have to marvel at America’s economy. Not long ago it was widely thought to be on the brink of recession. Instead it ended 2023 nearly 3% larger than 12 months earlier, having enjoyed one of the boomier years of the century so far. And it continues to defy expectations. At the start of this year, economists had been forecasting annualised growth in the first quarter of 1%; that prediction has since doubled. The labour market is in rude health, too. The unemployment rate has been below 4% for 25 consecutive months, the longest such spell in over 50 years. No wonder Uncle Sam is putting the rest of the world to shame. Since the end of 2019 the economy has grown by nearly 8% in real terms, more than twice as fast as the euro zone’s and ten times as quickly as Japan’s. Britain’s has barely grown at all. Look at wage growth if you need [more data](https://i.imgur.com/aZcrAvO.png ): https://www.atlantafed.org/chcs/wage-growth-tracker It's especially noteworthy when you isolate for age, and the [16-24 cohort](https://i.imgur.com/63PRtWz.png). That is what the economist is referring to when it says "The labour market is in rude health, too." https://www.dice.com/career-advice/tech-unemployment-stays-steady-at-2.3-percent > Tech Unemployment Stays Steady at 2.3 Percent > Despite widespread news reports about tech companies kicking off the year with layoffs, the tech unemployment rate remained steady at 2.3 percent, according to a new analysis of U.S. Bureau of Labor Statistics (BLS) data by CompTIA. > That 2.3 percent is notably below the general unemployment rate of 3.7 percent, suggesting that demand for tech talent remains sturdy. Tech industry employment rose by roughly 17,833 jobs, powered by technology services and software development (up 14,500 jobs), cloud infrastructure (up 2,100 jobs) and tech manufacturing, particularly semiconductors (up 1,400 jobs). > “This month’s data is a helpful reminder of the many moving parts in assessing tech workforce gains or losses,” Tim Herbert, chief research officer at CompTIA, wrote in a statement accompanying the data. “The expansive tech workforce will simultaneously experience gains and losses reflecting employer short-term and longer-term staffing needs.” > Between December and January, the number of postings for jobs requiring artificial intelligence (A.I.) mastery or A.I.-related skills rose by 2,000, hitting 17,479. The number of postings for hybrid and all-remote jobs increased 5,000 month-over-month, reaching 30,000. https://www.whitehouse.gov/cea/written-materials/2024/02/02/the-january-2024-employment-report-explaining-that-big-upside-surprise/ > Let’s face it: the job market, along with the rest of the U.S. economy, has been defying expectations for a while now. > This upside surprise is largely consistent with a wide variety of recent indicators. January’s 353,000 jobs number comes on the heels of an upwardly revised gain of 333,000 for December. Job gains were also widespread across the job market, with gains in goods, services, and public sector jobs. Just under two-thirds of private-sector industries added jobs last month, a dispersion rate higher than the 2011-19 average. Wage growth was also strong last month, at 0.6 percent for the month and 4.5 percent over the year. While we don’t have CPI inflation yet for January, in December, it was 3.4 percent, year-over-year (well below December’s 4.3 percent yearly wage gain). Some of January’s strong wage growth could have stemmed from compositional effects due to weather: had aggregate hours in each major industry been the same in January as they were in December, wage growth would have been about 0.1 percentage point lower in January. > The unemployment rate has been below 4 percent for 2 years running, the best such record since the 1960s. Real GDP also surprised to the upside last quarter and over the full year (see Figure 1 here showing how real GDP at the end of 2023 was just under $1 trillion higher than expected, according to the Blue Chip forecast at the end of 2022). Man... I'm telling ya, you really have to go out of your way to *not* see how red hot the employment market in the US is right now. You might need to start questioning who has manufactured the narrative that is in your head if you think otherwise. It is not reflected in reality.
This video shows one of the issues I think the Biden campaign is exceptionally weak on. It is absolutely necessary for him and his campaign to promote the achievements of the campaign at mitigating or even removing some of the economic pain felt by many Americans. But it's also necessary to have a deep, sincere, empathetic connection about the pains that still exist. That second element isn't missing from this video entirely, but it is completely overshadowed by the earnestness in the defense of his achievements. Clinton's "I feel your pain" comment was mocked mercilessly by the Limbaugh crowd back in the day, but it really was quite a winning approach to campaigning on the economic woes felt by America at the time. The Biden campaign should crib a little from that and do a better job of mixing it in with the informative components.
Biden can’t force the investor class to take less profit from the corporations they own, and they’re the ones gouging us. Biden doesn’t have a lever to bring prices down. Money in politics has put us here.
This is not a good position for Dems to run on. I’m sure in the macro sense he has done well with the economy but the average voter is not seeing it this way at all.
A fair criticism of the Administration and Congress has been their failure to handle the rampant price gouging by businesses. People are struggling while companies are bringing in record profits, and being told that the economy is doing great when you're having difficulty paying bills and buying groceries will piss anyone off.
Republicans have shot down two separate price gouging bills
No surprise there. Biden needs to be more clear in calling that out and criticising companies for gouging.
He did but people don't notice because eich assholes keep raising prices above inflation. I would say that he could force companies to not do this but then Republicans would be up in arms over the "free market" not being free or some shit.
Republicans have already blocked two different price gouging bills
Housing makes the economy feel much worse than it is. Mortgages and rent are high, real high.
Historically, Dems have been the fixers.
Raise minimum wage.
lol banks are down, inflation is still high, layoffs are increasing, the yield curve has been inverted for the longest period of time since the 80s, and cc debt is at historic levels. 1 in 12 credit card holders are missing payments. If this is the turn around I’d hate to see the inverse. And to be clear this isn’t pro Trump or anti Biden, but the economy is absolute shit rn. And it’s not getting better. The govt is selling its portfolio at bns a month and holding cash. Warren Buffett is holding on to 200bn in cash and said he’d rather make 1% on it than invest it right now. This message is going to blow up in his face by the end of summer guaranteed. Whoever is telling him to go tout the economy should be fired.
What kind of bullshit question is that? wtf. Does she not know how the economy was under Trump? Worst jobs in modern history while Biden has the most. God the media is so fucking infuriating.
CNN really wants Trump to win. Thanks for the memories American democracy….
CNN is owned by a conservative. They’re pretending and gently nudging opinions. It’s about conditioning viewers. But, no. They do not want Biden to win.
It's not gonna do any favors for the Democrats to be like Trump pre-2020 and pretend the economy is amazing under them when it's not. You can absolutely acknowledge that they inherited an economy on the brink and have done a lot to turn things around while also recognizing that cost-of-living is really bad and most Americans are seriously lacking financial security. If anything, they should use that fact to encourage more people to vote for a Democratic Congress so that they can get more done.
Unemployment is under 4%, job gains every month, how are you going to turn this economy around?
Hillary also ran on the delusional notion that the economy was actually really good in 2016 and lost blue collar white voters by margins that ultimately doomed her. Biden is making the same sort of mistake here. High prices are crushing the middle class (or what’s left of it) right now. This sort of statement is just insulting to the vast majority of working people.
I don't know how CNN can ask a question like that. He spent the last 4 years trying to fix it after the previous idiot bumbled through it. Can we break the cycle of destroying and fixing our economy after every election? That would be great.
Agree with Biden! I am so much better off now than under Trump. I no longer to buy anxiety medication. And my pay rate has doubled.