The Biden Economy

[Chicks]

President Joe Biden has deliberately echoed FDR’s policies of the New Deal in his economic program, promising to build the economy from the middle out and the bottom up, even as Republicans have insisted the only way to build the economy is to concentrate wealth on the “supply side” by cutting taxes. Today, there was more evidence that Biden’s policies are paying off for ordinary Americans. The November jobs report showed the economy added almost 200,000 more jobs in November, making the total since Biden took office more than 14 million, while the unemployment rate has stayed below 4% for 22 months in a row and wage growth is strong.

As Harvard professor Jason Furman notes, the U.S. is now 2 million jobs and 2 million employed above the pre-pandemic projections of the Congressional Budget Office. Dan Shafer of The Recombobulation Area observed, “If these numbers were happening during a Republican presidency, the usual business community folks would be celebrating in the streets. But when there’s a D next to the president’s name, it’s tumbleweeds.” Today, on the Fox News Channel, personality Maria Bartiromo noted that “the economy is a lot stronger than anyone understands.”

The president also echoed the New Deal’s promotion of internal improvements today when he announced an investment of $8.2 billion in new funding for ten major passenger rail projects across the country to deliver the nation’s first high-speed rail projects. High-speed rail between California and Nevada, serving more than 11 million people annually; Los Angeles and San Francisco; and the Eastern Corridor, will create tens of thousands of union jobs, build communities, and promote climate-friendly transportation options.

In a speech in Las Vegas, Nevada, announcing the rail plan, Biden called out his predecessor, who “always talked about infrastructure week. Four years of infrastructure week, but it failed. He failed,” Biden said. “On my watch, instead of having infrastructure week, America is having infrastructure decade.”

“Trump just talks the talk. We walk the walk,” he said. “Look. He likes to say America is a failing nation. Frankly, he doesn’t know what the hell he’s talking about. I see shovels in the ground, cranes in the sky, people hard at work rebuilding America together.”

~ Heather Cox Richardson


Sorry for the hard truth, Whell. I know you don't deal well with it, like all MAGAMorons. Sad.

[RickeyM]

The president also echoed the New Deal’s promotion of internal improvements today when he announced an investment of $8.2 billion in new funding for ten major passenger rail projects across the country to deliver the nation’s first high-speed rail projects. High-speed rail between California and Nevada, serving more than 11 million people annually; Los Angeles and San Francisco; and the Eastern Corridor, will create tens of thousands of union jobs, build communities, and promote climate-friendly transportation options.

Republican translation: Out of control spending.

[Chicks]

Originally Posted by RickeyM

Republican translation: Out of control spending.

They voted against it, but are now taking credit for it when speaking to their constituents.

[whell]

Originally Posted by Chicks

President Joe Biden has deliberately echoed FDR’s policies of the New Deal in his economic program, promising to build the economy from the middle out and the bottom up, even as Republicans have insisted the only way to build the economy is to concentrate wealth on the “supply side” by cutting taxes. Today, there was more evidence that Biden’s policies are paying off for ordinary Americans. The November jobs report showed the economy added almost 200,000 more jobs in November, making the total since Biden took office more than 14 million, while the unemployment rate has stayed below 4% for 22 months in a row and wage growth is strong.

As Harvard professor Jason Furman notes, the U.S. is now 2 million jobs and 2 million employed above the pre-pandemic projections of the Congressional Budget Office. Dan Shafer of The Recombobulation Area observed, “If these numbers were happening during a Republican presidency, the usual business community folks would be celebrating in the streets. But when there’s a D next to the president’s name, it’s tumbleweeds.” Today, on the Fox News Channel, personality Maria Bartiromo noted that “the economy is a lot stronger than anyone understands.”

The president also echoed the New Deal’s promotion of internal improvements today when he announced an investment of $8.2 billion in new funding for ten major passenger rail projects across the country to deliver the nation’s first high-speed rail projects. High-speed rail between California and Nevada, serving more than 11 million people annually; Los Angeles and San Francisco; and the Eastern Corridor, will create tens of thousands of union jobs, build communities, and promote climate-friendly transportation options.

In a speech in Las Vegas, Nevada, announcing the rail plan, Biden called out his predecessor, who “always talked about infrastructure week. Four years of infrastructure week, but it failed. He failed,” Biden said. “On my watch, instead of having infrastructure week, America is having infrastructure decade.”

“Trump just talks the talk. We walk the walk,” he said. “Look. He likes to say America is a failing nation. Frankly, he doesn’t know what the hell he’s talking about. I see shovels in the ground, cranes in the sky, people hard at work rebuilding America together.”

~ Heather Cox Richardson


Sorry for the hard truth, Whell. I know you don't deal well with it, like all MAGAMorons. Sad.

Right on, Chickie. Anecdotes and pull quotes are absolutely the foundation of a strong economy.

[Chicks]

Federal Reserve holds interest rates at 22-year high, signals three cuts next year
https://finance.yahoo.com/news/feder...190138119.html

Boom! Here's that Santa Claus rally, comin' on strong! Jingle Bells...

Merry Christmas, all you MAGAMorons - I hope you wake up, realize just how great this economy is, and vote for Joe!

[finnbow]

S&P 500 now up 21.5% on the year. NASDAQ up 39.5%. Best recession ever.

[bobabode]

"The Dow Jones Industrial Average set a new all-time high record Wednesday, reflecting new optimism that the economy is slowing just enough to bring down inflation without triggering a recession.

The Dow closed at 37,090, up more than 500 points for the day or 1.4 percent, surpassing a record in January 2022, fueled by the Fed decision to hold rates steady due to progress on inflation. The milestone caps off a banner couple of weeks for the U.S. stock market, including the tech-heavy Nasdaq and the S&P 500, bolstered by health-care stocks and promising earnings from technology companies." cont. - https://www.washingtonpost.com/busin...nterest-rates/

So much for the wingnuttery getting their knickers in a bunch.

Thanks, Joe.

[Rajoo]

Originally Posted by finnbow

S&P 500 now up 21.5% on the year. NASDAQ up 39.5%. Beat recession ever.

We bought our house in Reno in Sept. 2021 and its still up 22% in a bit over two years. It was up as much as 27% but then receded. I expect it to go back up next year as the mortgage interest rates drop.

Thanks Joe, you are awesome.

[RickeyM]

Doom & gloom 3-2-1.

[Rajoo]

Originally Posted by Chicks

Federal Reserve holds interest rates at 22-year high, signals three cuts next year
https://finance.yahoo.com/news/feder...190138119.html

Boom! Here's that Santa Claus rally, comin' on strong! Jingle Bells...

Merry Christmas, all you MAGAMorons - I hope you wake up, realize just how great this economy is, and vote for Joe!

Its can't all be good news, we need some bad for comparison.