Trump: Bidenomics is worst economic decline since the Great Depression

[reason10]

And this is from the president who gave America the greatest economy of all time.

https://www.newsmax.com/newsfront/bidenomics-economics-inflation/2023/06/28/id/1125306/

Trump: 'Bidenomics' Is 'Worst Economic Decline' Since Depression

While President Joe Biden and the media detail the sales-pitch element of "Bidenomics,"  former President Donald Trump is mocking it as a strategy at the root of the "worst economic decline since the Great Depression."

"'Bidenomics' is the opposite of President Trump's historic economy," the Trump campaign said in a detailed statement deriding Biden's plan on Wednesday. "President Trump's success is low taxes, low regulations, low inflation, maximizing American energy production for affordable energy, fair trade, and no job-killing globalist agreements.

"'Bidenomics' is high taxes, crippling regulations, crushing inflation, war on American energy, soaring energy costs, job-killing globalist intentional agreements like the Paris Climate Accord, and total economic surrender to China and other foreign countries. America first economics vs. America last."

"Every plank of President Trump's economy makes it easier, more attractive for American jobs, American workers, and American families in the U.S.," the statement continued. "Every plank of 'Bidenomics' hurts jobs and workers in America and rewards outsourcers and foreign producers."

"Biden and the radical Democrat Congress singlehandedly created the highest inflation in decades," the statement said. "They spent trillions of dollars and pursued the socialist joke known as the Green New Deal.

"Now the inflation and high interest rates that Biden caused have resulted in the Biden banking crisis — a disaster of historic proportions."

Those are the facts.  Biden is the worst president in history.

(Or he would be, if he had been legally elected.)

 

 

And remember the Trump record.

https://trumpwhitehouse.archives.gov/trump-administration-accomplishments/

Unprecedented Economic Boom

Before the China Virus invaded our shores, we built the world’s most prosperous economy.

• America gained 7 million new jobs – more than three times government experts’ projections.
• Middle-Class family income increased nearly $6,000 – more than five times the gains during the entire previous administration.
• The unemployment rate reached 3.5 percent, the lowest in a half-century.
• Achieved 40 months in a row with more job openings than job-hirings.
• More Americans reported being employed than ever before – nearly 160 million.
• Jobless claims hit a nearly 50-year low.
• The number of people claiming unemployment insurance as a share of the population hit its lowest on record.
• Incomes rose in every single metro area in the United States for the first time in nearly 3 decades.

Delivered a future of greater promise and opportunity for citizens of all backgrounds.

• Unemployment rates for African Americans, Hispanic Americans, Asian Americans, Native Americans, veterans, individuals with disabilities, and those without a high school diploma all reached record lows.
• Unemployment for women hit its lowest rate in nearly 70 years.
• Lifted nearly 7 million people off of food stamps.
• Poverty rates for African Americans and Hispanic Americans reached record lows.
• Income inequality fell for two straight years, and by the largest amount in over a decade.
• The bottom 50 percent of American households saw a 40 percent increase in net worth.
• Wages rose fastest for low-income and blue collar workers – a 16 percent pay increase.
• African American homeownership increased from 41.7 percent to 46.4 percent.

Brought jobs, factories, and industries back to the USA.

• Created more than 1.2 million manufacturing and construction jobs.
• Put in place policies to bring back supply chains from overseas.
• Small business optimism broke a 35-year old record in 2018.

Hit record stock market numbers and record 401ks.

• The DOW closed above 20,000 for the first time in 2017 and topped 30,000 in 2020.
• The S&P 500 and NASDAQ have repeatedly notched record highs.

Rebuilding and investing in rural America.

• Signed an Executive Order on Modernizing the Regulatory Framework for Agricultural Biotechnology Products, which is bringing innovative new technologies to market in American farming and agriculture.
• Strengthened America’s rural economy by investing over $1.3 billion through the Agriculture Department’s ReConnect Program to bring high-speed broadband infrastructure to rural America.

Achieved a record-setting economic comeback by rejecting blanket lockdowns.

• An October 2020 Gallup survey found 56 percent of Americans said they were better off during a pandemic than four years prior.
• During the third quarter of 2020, the economy grew at a rate of 33.1 percent – the most rapid GDP growth ever recorded.
• Since coronavirus lockdowns ended, the economy has added back over 12 million jobs, more than half the jobs lost.
• Jobs have been recovered 23 times faster than the previous administration’s recovery.
• Unemployment fell to 6.7 percent in December, from a pandemic peak of 14.7 percent in April – beating expectations of well over 10 percent unemployment through the end of 2020.
• Under the previous administration, it took 49 months for the unemployment rate to fall from 10 percent to under 7 percent compared to just 3 months for the Trump Administration.
• Since April, the Hispanic unemployment rate has fallen by 9.6 percent, Asian-American unemployment by 8.6 percent, and Black American unemployment by 6.8 percent.
• 80 percent of small businesses are now open, up from just 53 percent in April.
• Small business confidence hit a new high.
• Homebuilder confidence reached an all-time high, and home sales hit their highest reading since December 2006.
• Manufacturing optimism nearly doubled.
• Household net worth rose $7.4 trillion in Q2 2020 to $112 trillion, an all-time high.
• Home prices hit an all-time record high.
• The United States rejected crippling lockdowns that crush the economy and inflict countless public health harms and instead safely reopened its economy.
• Business confidence is higher in America than in any other G7 or European Union country.
• Stabilized America’s financial markets with the establishment of a number of Treasury Department supported facilities at the Federal Reserve.

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Tax Relief for the Middle Class

Passed $3.2 trillion in historic tax relief and reformed the tax code.

• Signed the Tax Cuts and Jobs Act – the largest tax reform package in history.
• More than 6 million American workers received wage increases, bonuses, and increased benefits thanks to the tax cuts.
• A typical family of four earning $75,000 received an income tax cut of more than $2,000 – slashing their tax bill in half.
• Doubled the standard deduction – making the first $24,000 earned by a married couple completely tax-free.
• Doubled the child tax credit.
• Virtually eliminated the unfair Estate Tax, or Death Tax.
• Cut the business tax rate from 35 percent – the highest in the developed world – all the way down to 21 percent.
• Small businesses can now deduct 20 percent of their business income.
• Businesses can now deduct 100 percent of the cost of their capital investments in the year the investment is made.
• Since the passage of tax cuts, the share of total wealth held by the bottom half of households has increased, while the share held by the top 1 percent has decreased.
• Over 400 companies have announced bonuses, wage increases, new hires, or new investments in the United States.
• Over $1.5 trillion was repatriated into the United States from overseas.
• Lower investment cost and higher capital returns led to faster growth in the middle class, real wages, and international competitiveness.

Jobs and investments are pouring into Opportunity Zones.

• Created nearly 9,000 Opportunity Zones where capital gains on long-term investments are taxed at zero.
• Opportunity Zone designations have increased property values within them by 1.1 percent, creating an estimated $11 billion in wealth for the nearly half of Opportunity Zone residents who own their own home.
• Opportunity Zones have attracted $75 billion in funds and driven $52 billion of new investment in economically distressed communities, creating at least 500,000 new jobs.
• Approximately 1 million Americans will be lifted from poverty as a result of these new investments.
• Private equity investments into businesses in Opportunity Zones were nearly 30 percent higher than investments into businesses in similar areas that were not designated Opportunity Zones.

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Massive Deregulation

Ended the regulatory assault on American Businesses and Workers.

• Instead of 2-for-1, we eliminated 8 old regulations for every 1 new regulation adopted.
• Provided the average American household an extra $3,100 every year.
• Reduced the direct cost of regulatory compliance by $50 billion, and will reduce costs by an additional $50 billion in FY 2020 alone.
• Removed nearly 25,000 pages from the Federal Register – more than any other president. The previous administration added over 16,000 pages.
• Established the Governors’ Initiative on Regulatory Innovation to reduce outdated regulations at the state, local, and tribal levels.
• Signed an executive order to make it easier for businesses to offer retirement plans.
• Signed two executive orders to increase transparency in Federal agencies and protect Americans and their small businesses from administrative abuse.
• Modernized the National Environmental Policy Act (NEPA) for the first time in over 40 years.
• Reduced approval times for major infrastructure projects from 10 or more years down to 2 years or less.
• Helped community banks by signing legislation that rolled back costly provisions of Dodd-Frank.
• Established the White House Council on Eliminating Regulatory Barriers to Affordable Housing to bring down housing costs.
• Removed regulations that threatened the development of a strong and stable internet.
• Eased and simplified restrictions on rocket launches, helping to spur commercial investment in space projects.
• Published a whole-of-government strategy focused on ensuring American leadership in automated vehicle technology.
• Streamlined energy efficiency regulations for American families and businesses, including preserving affordable lightbulbs, enhancing the utility of showerheads, and enabling greater time savings with dishwashers.
• Removed unnecessary regulations that restrict the seafood industry and impede job creation.
• Modernized the Department of Agriculture’s biotechnology regulations to put America in the lead to develop new technologies.
• Took action to suspend regulations that would have slowed our response to COVID-19, including lifting restrictions on manufacturers to more quickly produce ventilators.

Successfully rolled back burdensome regulatory overreach.

• Rescinded the previous administration’s Affirmatively Furthering Fair Housing (AFFH) rule, which would have abolished zoning for single-family housing to build low-income, federally subsidized apartments.
• Issued a final rule on the Fair Housing Act’s disparate impact standard.
• Eliminated the Waters of the United States Rule and replaced it with the Navigable Waters Protection Rule, providing relief and certainty for farmers and property owners.
• Repealed the previous administration’s costly fuel economy regulations by finalizing the Safer Affordable Fuel Efficient (SAFE) Vehicles rule, which will make cars more affordable, and lower the price of new vehicles by an estimated $2,200.

Americans now have more money in their pockets.

• Deregulation had an especially beneficial impact on low-income Americans who pay a much higher share of their incomes for overregulation.
• Cut red tape in the healthcare industry, providing Americans with more affordable healthcare and saving Americans nearly 10 percent on prescription drugs.
• Deregulatory efforts yielded savings to the medical community an estimated $6.6 billion – with a reduction of 42 million hours of regulatory compliance work through 2021.
• Removed government barriers to personal freedom and consumer choice in healthcare.
• Once fully in effect, 20 major deregulatory actions undertaken by the Trump Administration are expected to save American consumers and businesses over $220 billion per year.
• Signed 16 pieces of deregulatory legislation that will result in a $40 billion increase in annual real incomes.

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Fair and Reciprocal Trade

Secured historic trade deals to defend American workers.

• Immediately withdrew from the job-killing Trans-Pacific Partnership (TPP).
• Ended the North American Free Trade Agreement (NAFTA), and replaced it with the brand new United States-Mexico-Canada Agreement (USMCA).
• The USMCA contains powerful new protections for American manufacturers, auto-makers, farmers, dairy producers, and workers.
• The USMCA is expected to generate over $68 billion in economic activity and potentially create over 550,000 new jobs over ten years.
• Signed an executive order making it government policy to Buy American and Hire American, and took action to stop the outsourcing of jobs overseas.
• Negotiated with Japan to slash tariffs and open its market to $7 billion in American agricultural products and ended its ban on potatoes and lamb.
• Over 90 percent of American agricultural exports to Japan now receive preferential treatment, and most are duty-free.
• Negotiated another deal with Japan to boost $40 billion worth of digital trade.
• Renegotiated the United States-Korea Free Trade Agreement, doubling the cap on imports of American vehicles and extending the American light truck tariff.
• Reached a written, fully-enforceable Phase One trade agreement with China on confronting pirated and counterfeit goods, and the protection of American ideas, trade secrets, patents, and trademarks.
• China agreed to purchase an additional $200 billion worth of United States exports and opened market access for over 4,000 American facilities to exports while all tariffs remained in effect.
• Achieved a mutual agreement with the European Union (EU) that addresses unfair trade practices and increases duty-free exports by 180 percent to $420 million.
• Secured a pledge from the EU to eliminate tariffs on American lobster – the first United States-European Union negotiated tariff reduction in over 20 years.
• Scored a historic victory by overhauling the Universal Postal Union, whose outdated policies were undermining American workers and interests.
• Engaged extensively with trade partners like the EU and Japan to advance reforms to the World Trade Organization (WTO).
• Issued a first-ever comprehensive report on the WTO Appellate Body’s failures to comply with WTO rules and interpret WTO agreements as written.
• Blocked nominees to the WTO’s Appellate Body until WTO Members recognize and address longstanding issues with Appellate Body activism.
• Submitted 5 papers to the WTO Committee on Agriculture to improve Members’ understanding of how trade policies are implemented, highlight areas for improved transparency, and encourage members to maintain up-to-date notifications on market access and domestic support.

Took strong actions to confront unfair trade practices and put America First.

• Imposed tariffs on hundreds of billions worth of Chinese goods to protect American jobs and stop China’s abuses under Section 232 of the Trade Expansion Act of 1962 and Section 301 of the Trade Act of 1974.
• Directed an all-of-government effort to halt and punish efforts by the Communist Party of China to steal and profit from American innovations and intellectual property.
• Imposed tariffs on foreign aluminum and foreign steel to protect our vital industries and support our national security.
• Approved tariffs on $1.8 billion in imports of washing machines and $8.5 billion in imports of solar panels.
• Blocked illegal timber imports from Peru.
• Took action against France for its digital services tax that unfairly targets American technology companies.
• Launched investigations into digital services taxes that have been proposed or adopted by 10 other countries.

Historic support for American farmers.

• Successfully negotiated more than 50 agreements with countries around the world to increase foreign market access and boost exports of American agriculture products, supporting more than 1 million American jobs.
• Authorized $28 billion in aid for farmers who have been subjected to unfair trade practices – fully funded by the tariffs paid by China.
• China lifted its ban on poultry, opened its market to beef, and agreed to purchase at least $80 billion of American agricultural products in the next two years.
• The European Union agreed to increase beef imports by 180 percent and opened up its market to more imports of soybeans.
• South Korea lifted its ban on American poultry and eggs, and agreed to provide market access for record exports of American rice.
• Argentina lifted its ban on American pork.
• Brazil agreed to increase wheat imports by $180 million a year and raised its quotas for purchases of United States ethanol.
• Guatemala and Tunisia opened up their markets to American eggs.
• Won tariff exemptions in Ecuador for wheat and soybeans.
• Suspended $817 million in trade preferences for Thailand under the Generalized System of Preferences (GSP) program due to its failure to adequately provide reasonable market access for American pork products.
• The amount of food stamps redeemed at farmers markets increased from $1.4 million in May 2020 to $1.75 million in September 2020 – a 50 percent increase over last year.
• Rapidly deployed the Coronavirus Food Assistance Program, which provided $30 billion in support to farmers and ranchers facing decreased prices and market disruption when COVID-19 impacted the food supply chain.
• Authorized more than $6 billion for the Farmers to Families Food Box program, which delivered over 128 million boxes of locally sourced, produce, meat, and dairy products to charity and faith-based organizations nationwide.
• Delegated authorities via the Defense Production Act to protect breaks in the American food supply chain as a result of COVID-19.

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American Energy Independence

Unleashed America’s oil and natural gas potential.

• For the first time in nearly 70 years, the United States has become a net energy exporter.
• The United States is now the number one producer of oil and natural gas in the world.
• Natural gas production reached a record-high of 34.9 quads in 2019, following record high production in 2018 and in 2017.
• The United States has been a net natural gas exporter for three consecutive years and has an export capacity of nearly 10 billion cubic feet per day.
• Withdrew from the unfair, one-sided Paris Climate Agreement.
• Canceled the previous administration’s Clean Power Plan, and replaced it with the new Affordable Clean Energy rule.
• Approved the Keystone XL and Dakota Access pipelines.
• Opened up the Arctic National Wildlife Refuge (ANWR) in Alaska to oil and gas leasing.
• Repealed the last administration’s Federal Coal Leasing Moratorium, which prohibited coal leasing on Federal lands.
• Reformed permitting rules to eliminate unnecessary bureaucracy and speed approval for mines.
• Fixed the New Source Review permitting program, which punished companies for upgrading or repairing coal power plants.
• Fixed the Environmental Protection Agency’s (EPA) steam electric and coal ash rules.
• The average American family saved $2,500 a year in lower electric bills and lower prices at the gas pump.
• Signed legislation repealing the harmful Stream Protection Rule.
• Reduced the time to approve drilling permits on public lands by half, increasing permit applications to drill on public lands by 300 percent.
• Expedited approval of the NuStar’s New Burgos pipeline to export American gasoline to Mexico.
• Streamlined Liquefied natural gas (LNG) terminal permitting and allowed long-term LNG export authorizations to be extended through 2050.
• The United States is now among the top three LNG exporters in the world.
• Increased LNG exports five-fold since January 2017, reaching an all-time high in January 2020.
• LNG exports are expected to reduce the American trade deficit by over $10 billion.
• Granted more than 20 new long-term approvals for LNG exports to non-free trade agreement countries.
• The development of natural gas and LNG infrastructure in the United States is providing tens of thousands of jobs, and has led to the investment of tens of billions of dollars in infrastructure.
• There are now 6 LNG export facilities operating in the United States, with 2 additional export projects under construction.
• The amount of nuclear energy production in 2019 was the highest on record, through a combination of increased capacity from power plant upgrades and shorter refueling and maintenance cycles.
• Prevented Russian energy coercion across Europe through various lines of effort, including the Partnership for Transatlantic Energy Cooperation, civil nuclear deals with Romania and Poland, and opposition to Nord Stream 2 pipeline.
• Issued the Presidential Permit for the A2A railroad between Canada and Alaska, providing energy resources to emerging markets.

Increased access to our country’s abundant natural resources in order to achieve energy independence.

• Renewable energy production and consumption both reached record highs in 2019.
• Enacted policies that helped double the amount of electricity generated by solar and helped increase the amount of wind generation by 32 percent from 2016 through 2019.
• Accelerated construction of energy infrastructure to ensure American energy producers can deliver their products to the market.
• Cut red tape holding back the construction of new energy infrastructure.
• Authorized ethanol producers to sell E15 year-round and allowed higher-ethanol gasoline to be distributed from existing pumps at filling stations.
• Ensured greater transparency and certainty in the Renewable Fuel Standard (RFS) program.
• Negotiated leasing capacity in the Strategic Petroleum Reserve to Australia, providing American taxpayers a return on this infrastructure investment.
• Signed an executive order directing Federal agencies to work together to diminish the capability of foreign adversaries to target our critical electric infrastructure.
• Reformed Section 401 of the Clean Water Act regulation to allow for the curation of interstate infrastructure.
• Resolved the OPEC (Organization of the Petroleum Exporting Countries) oil crisis during COVID-19 by getting OPEC, Russia, and others to cut nearly 10 million barrels of production a day, stabilizing world oil prices.
• Directed the Department of Energy to use the Strategic Petroleum Reserve to mitigate market volatility caused by COVID-19.

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Investing in America’s Workers and Families

Affordable and high-quality Child Care for American workers and their families.

• Doubled the Child Tax Credit from $1,000 to $2,000 per child and expanded the eligibility for receiving the credit.
• Nearly 40 million families benefitted from the child tax credit (CTC), receiving an average benefit of $2,200 – totaling credits of approximately $88 billion.
• Signed the largest-ever increase in Child Care and Development Block Grants – expanding access to quality, affordable child care for more than 800,000 low-income families.
• Secured an additional $3.5 billion in the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help families and first responders with child care needs.
• Created the first-ever paid family leave tax credit for employees earning $72,000 or less.
• Signed into law 12-weeks of paid parental leave for Federal workers.
• Signed into law a provision that enables new parents to withdraw up to $5,000 from their retirement accounts without penalty when they give birth to or adopt a child.

Advanced apprenticeship career pathways to good-paying jobs.

• Expanded apprenticeships to more than 850,000 and established the new Industry-Recognized Apprenticeship programs in new and emerging fields.
• Established the National Council for the American Worker and the American Workforce Policy Advisory Board.
• Over 460 companies have signed the Pledge to America’s Workers, committing to provide more than 16 million job and training opportunities.
• Signed an executive order that directs the Federal government to replace outdated degree-based hiring with skills-based hiring.

Advanced women’s economic empowerment.

• Included women’s empowerment for the first time in the President’s 2017 National Security Strategy.
• Signed into law key pieces of legislation, including the Women, Peace, and Security Act and the Women Entrepreneurship and Economic Empowerment Act.
• Launched the Women’s Global Development and Prosperity (W-GDP) Initiative – the first-ever whole-of-government approach to women’s economic empowerment that has reached 24 million women worldwide.
• Established an innovative new W-GDP Fund at USAID.
• Launched the Women Entrepreneurs Finance Initiative (We-Fi) with 13 other nations.
• Announced a $50 million donation on behalf of the United States to We-Fi providing more capital to women-owned businesses around the world.
• Released the first-ever Strategy on Women, Peace, and Security, which focused on increasing women’s participation to prevent and resolve conflicts.
• Launched the W-GDP 2x Global Women’s Initiative with the Development Finance Corporation, which has mobilized more than $3 billion in private sector investments over three years.

Ensured American leadership in technology and innovation.

• First administration to name artificial intelligence, quantum information science, and 5G communications as national research and development priorities.
• Launched the American Broadband Initiative to promote the rapid deployment of broadband internet across rural America.
• Made 100 megahertz of crucial mid-band spectrum available for commercial operations, a key factor to driving widespread 5G access across rural America.
• Launched the American AI Initiative to ensure American leadership in artificial intelligence (AI), and established the National AI Initiative Office at the White House.
• Established the first-ever principles for Federal agency adoption of AI to improve services for the American people.
• Signed the National Quantum Initiative Act establishing the National Quantum Coordination Office at the White House to drive breakthroughs in quantum information science.
• Signed the Secure 5G and Beyond Act to ensure America leads the world in 5G.
• Launched a groundbreaking program to test safe and innovative commercial drone operations nationwide.
• Issued new rulemaking to accelerate the return of American civil supersonic aviation.
• Committed to doubling investments in AI and quantum information science (QIS) research and development.
• Announced the establishment of $1 billion AI and quantum research institutes across America.
• Established the largest dual-use 5G test sites in the world to advance 5G commercial and military innovation.
• Signed landmark Prague Principles with America’s allies to advance the deployment of secure 5G telecommunications networks.
• Signed first-ever bilateral AI cooperation agreement with the United Kingdom.
• Built collation among allies to ban Chinese Telecom Company Huawei from their 5G infrastructure.

Preserved American jobs for American workers and rejected the importation of cheap foreign labor.

• Pressured the Tennessee Valley Authority (TVA) to reverse their decision to lay off over 200 American workers and replace them with cheaper foreign workers.
• Removed the TVA Chairman of the Board and a TVA Board Member.

[Rebound]

There are no facts in that statement. It is pure opinion.

Have we been able to raise interest rates under Biden? YES

Have we maintained the lowest stretch of sub-4% unemployment since the 1960's under Biden? YES

Did the US GDP grow faster under Biden than under Trump? Yes, you bet! 5.95%, with a peak of a whopping 12.5%, the highest since Q4 1950.

FACTS.

https://tradingeconomics.com/united-states/gdp-growth-annual

Edited June 29, 2023 by Rebound

[I am Groot]

Trump doesn't know a thing about economics. He's proven that by innumerable statements and questions. He also doesn't know anything about history. The man is a certified imbecile.

[Rebound]

9 minutes ago, I am Groot said:

Trump doesn't know a thing about economics. He's proven that by innumerable statements and questions. He also doesn't know anything about history. The man is a certified imbecile.

More to the point: Trump is just farting in the wind. He has not pulled out one single economic indicator to back up his absurd allegation that the economy is as bad as it was during the Great Depression.  
 

Economic collapse only happens when Republicans Hoover, Reagan, Bush and Trump were in office.  Their successor Democrats picked up the pieces and put things back together. 

[SNOWFLAKE]

Every president in history has had the best economy, and every mindless American that supports that particular president has agreed with that assessment and very mindless minion opposed to that particular president has disagreed with that assessment. 

[CdnFox]

2 hours ago, Rebound said:

There are no facts in that statement. It is pure opinion.

OK there robosmith

Quote

 

Have we been able to raise interest rates under Biden? YES

Have we maintained the lowest stretch of sub-4% unemployment since the 1960's under Biden? YES

Did the US GDP grow faster under Biden than under Trump? Yes, you bet! 5.95%, with a peak of a whopping 12.5%, the highest since Q4 1950.

FACTS.

https://tradingeconomics.com/united-states/gdp-growth-annual

 

 

Is that all because of the covid recovery?

YES!! FACTS!!!!!!!!!!!!!!!!!

LOL - yeash. both sides love their grand exaggerations and 'cherry picked' facts 

Over all biden's economy is not great. It's actually fairly bad.  Inflation is wiping out any positive gains made, the deficit is shooting upwards (without covid to blame) job growth and more specifically good job growth and wage growth is lacklustre at best and wages are falling behind due to inflation, so people are making less. Higher interest rates will slow the economy (which they're supposed to) but likely push it into recession and obviously they hurt people. The massive spending hasn't resulted in anything substantial.

But - to claim it's the worst since the fall of rome is going a bit far   it's got serious weaknesses but it's not a disaster (yet).

Likewise trumps economy was pretty good - he inherited a recovering economy and his initial policies boosted that to be slightly better and  but to claim it was the best economy since the invention of money is rediculous.  His tax cuts gave a nice boost but it wasn't sustained, and he hadn't come up with something to build on that before covid. (it would have been interesting to see how that progressed over time without covid)  ANd to claim he 'crashed' it is pure buffoonery. 

[Rebound]

8 minutes ago, CdnFox said:

OK there robosmith

 

Is that all because of the covid recovery?

YES!! FACTS!!!!!!!!!!!!!!!!!

LOL - yeash. both sides love their grand exaggerations and 'cherry picked' facts 

Over all biden's economy is not great. It's actually fairly bad.  Inflation is wiping out any positive gains made, the deficit is shooting upwards (without covid to blame) job growth and more specifically good job growth and wage growth is lacklustre at best and wages are falling behind due to inflation, so people are making less. Higher interest rates will slow the economy (which they're supposed to) but likely push it into recession and obviously they hurt people. The massive spending hasn't resulted in anything substantial.

But - to claim it's the worst since the fall of rome is going a bit far   it's got serious weaknesses but it's not a disaster (yet).

Likewise trumps economy was pretty good - he inherited a recovering economy and his initial policies boosted that to be slightly better and  but to claim it was the best economy since the invention of money is rediculous.  His tax cuts gave a nice boost but it wasn't sustained, and he hadn't come up with something to build on that before covid. (it would have been interesting to see how that progressed over time without covid)  ANd to claim he 'crashed' it is pure buffoonery. 

Trump’s economic policies were:

1) Slash taxes. This made deficits soar, and was obviously inflationary.

2) Trade war with China. This was a strong contributor to the parts shortages we experienced during and after Covid. It destabilized our relationship with China. It implemented a tax upon the American consumer. 
 

3) Pressure the Fed to cut interest rates. Inflationary and economically destabilizing

4) Massive, unprecedented, mega-mega-deficits. 25% of the total national debt was racked up in four years of Trump. 
 

Trump terribly mismanaged the Covid epidemic and was clearly way out of his league. The US as a result had one of the worse death rates of any developed nation. 

[CdnFox]

12 minutes ago, Rebound said:

Trump’s economic policies were:

1) Slash taxes. This made deficits soar, and was obviously inflationary.

Slash taxes yes - inflation no.  There's reasons for that but as we saw there was no significant inflation spike at that time.

Quote

2) Trade war with China. This was a strong contributor to the parts shortages we experienced during and after Covid. It destabilized our relationship with China. It implemented a tax upon the American consumer. 

Trade war? Yes.  Parts shortage? NO - good god no. that's just dumb.

 

Quote

3) Pressure the Fed to cut interest rates. Inflationary and economically destabilizing

Yes he did - and it is debated how good an idea that was - but it did NOT create economic destabilization in the slighest.

Here - https://www.bankrate.com/banking/federal-reserve/was-trump-right-about-the-fed-and-rates/

 I personally don't think it was necessary but that is hardly a universal belief.

 

Quote

4) Massive, unprecedented, mega-mega-deficits. 25% of the total national debt was racked up in four years of Trump. 

Umm  - pandemic.  And biden is looking to be worse

https://www.nytimes.com/2022/02/01/us/politics/national-debt-30-trillion.html

And - it's not quite what you say

https://www.newsweek.com/trump-national-us-debt-1774764

The $7 trillion increase in national debt under Trump's presidency is not entirely unique. When Barack Obama entered office in January 2009, the debt stood at $11.1 trillion as the country continued to feel the effects of the 2008 financial crash.

By the end of Obama's final year in office in 2016, the debt was almost $19.9 trillion—an increase of $8.8 trillion, albeit accumulated over the course of eight years and during a longer recession than Trump's presidency experienced.

So obama actually racked up more debt.

Quote

Trump terribly mismanaged the Covid epidemic and was clearly way out of his league. The US as a result had one of the worse death rates of any developed nation. 

Trump handled it pretty well actually - and project lightspeed gave the world the two best vaccines that were produced much faster than expected. Nobody else was able to duplicate that success.  Biden promised to do better and failed to do so.  BOTH had a bad habit of grossly exaggerating facts.  Trump "it's just like the flu"  and Biden "If you take the vaccine you can never catch covid".

So - as we can see most of your "facts'" are crap.

[robosmith]

1 hour ago, CdnFox said:

OK there robosmith

 

Is that all because of the covid recovery?

YES!! FACTS!!!!!!!!!!!!!!!!!

LOL - yeash. both sides love their grand exaggerations and 'cherry picked' facts 

 

But YOU post ONLY YOUR OPINION. As USUAL. LMAO

Now get to work and at least post some cherries, cause you ain't foolin anyone.

[Rebound]

1 hour ago, CdnFox said:

Slash taxes yes - inflation no.  There's reasons for that but as we saw there was no significant inflation spike at that time.

Trade war? Yes.  Parts shortage? NO - good god no. that's just dumb.

 

Yes he did - and it is debated how good an idea that was - but it did NOT create economic destabilization in the slighest.

Here - https://www.bankrate.com/banking/federal-reserve/was-trump-right-about-the-fed-and-rates/

 I personally don't think it was necessary but that is hardly a universal belief.

 

Umm  - pandemic.  And biden is looking to be worse

https://www.nytimes.com/2022/02/01/us/politics/national-debt-30-trillion.html

And - it's not quite what you say

https://www.newsweek.com/trump-national-us-debt-1774764

The $7 trillion increase in national debt under Trump's presidency is not entirely unique. When Barack Obama entered office in January 2009, the debt stood at $11.1 trillion as the country continued to feel the effects of the 2008 financial crash.

By the end of Obama's final year in office in 2016, the debt was almost $19.9 trillion—an increase of $8.8 trillion, albeit accumulated over the course of eight years and during a longer recession than Trump's presidency experienced.

So obama actually racked up more debt.

Trump handled it pretty well actually - and project lightspeed gave the world the two best vaccines that were produced much faster than expected. Nobody else was able to duplicate that success.  Biden promised to do better and failed to do so.  BOTH had a bad habit of grossly exaggerating facts.  Trump "it's just like the flu"  and Biden "If you take the vaccine you can never catch covid".

So - as we can see most of your "facts'" are crap.

So deficits ONLY cause inflation if a Democrat is President, and otherwise, like magic, they magically don’t?

[CdnFox]

2 hours ago, robosmith said:

But YOU post ONLY YOUR OPINION. As USUAL. LMAO

 

THaT OpiNIoN iS USELESS withOUT FACTS!!!!!!! LOL!

Quote

Now get to work and at least post some cherries, cause you ain't foolin anyone.

That kind of sounds like you're having those weird sexual delusions again. Maybe keep those to yourself.

[robosmith]

2 hours ago, CdnFox said:

THaT OpiNIoN iS USELESS withOUT FACTS!!!!!!! LOL!

That kind of sounds like you're having those weird sexual delusions again. Maybe keep those to yourself.

Maybe if you apply some considerable thinking, you can figure out that IT'S NOT.

[CdnFox]

1 hour ago, robosmith said:

Maybe if you apply some considerable thinking, you can figure out that IT'S NOT.

Maybe if you stopped drinking cough syrup you can figure out it IS  

 

[robosmith]

5 hours ago, CdnFox said:

Maybe if you stopped drinking cough syrup you can figure out it IS  

The FACT is, you don't know what you're talking about, but have ^these delusions that you do.

Now crawl back under your bridge, TROLL.

[reason10]

18 hours ago, Rebound said:

So deficits ONLY cause inflation if a Democrat is President, and otherwise, like magic, they magically don’t?

Hey STUPID. Inflation is defined as too many dollars chasing too few goods.

Unelected Joe FLOODED the dollar market with newly printed bills and without ANY expansion of goods and services. He tried to BUY EVERYBODY OFF with that bullshit Stimulus crap.

And we got inflation.

Geez! Are you just BRAIN DEAD?

23 hours ago, Rebound said:

There are no facts in that statement. It is pure opinion.

Have we been able to raise interest rates under Biden? YES

Have we maintained the lowest stretch of sub-4% unemployment since the 1960's under Biden? YES

Did the US GDP grow faster under Biden than under Trump? Yes, you bet! 5.95%, with a peak of a whopping 12.5%, the highest since Q4 1950.

FACTS.

https://tradingeconomics.com/united-states/gdp-growth-annual

They are ALL facts, whether you fcking like it or not. And your left wing fake news sources are bullschit.

[CdnFox]

12 hours ago, robosmith said:

The FACT is, you don't know what you're talking about, but have ^these delusions that you do.

Now crawl back under your bridge, TROLL.

oh dear! You have forgotten what the definition of a fact is

You realize virtually everyone who has read any of your posts is now laughing at you, right?

If that is our new definition of a fact, then the fact is you are a pathetic loser who doesn't understand the subject at hand and gets frustrated and lashes out at others when they point that out. But at least you are always amusing! LOL!

[reason10]

7 minutes ago, CdnFox said:

oh dear! You have forgotten what the definition of a fact is

You realize virtually everyone who has read any of your posts is now laughing at you, right?

If that is our new definition of a fact, then the fact is you are a pathetic loser who doesn't understand the subject at hand and gets frustrated and lashes out at others when they point that out. But at least you are always amusing! LOL!

The left wing Downs Syndrome posters here laugh at caterpillars. Not like I care what those retards think.

I don't lash out. When I'm attacked (which is all the time from the extra chromosome crowd here) I put them in their place, kind of like their fourth grade teachers would have done if they hadn't dropped out of the third grade, (and inferior BLUE STATES)

i own FACTS. AND FACTS DON'T CARE ABOUT YOUR SNOWFLAKE FEELINGS.

[robosmith]

On 6/29/2023 at 7:04 AM, reason10 said:

"'Bidenomics' is the opposite of President Trump's historic economy," the Trump campaign said in a detailed statement deriding Biden's plan on Wednesday. "President Trump's success is low taxes, low regulations, low inflation, maximizing American energy production for affordable energy, fair trade, and no job-killing globalist agreements.

Those are the facts. 

The ONLY fact that you've posted is that Trump's campaign PUBLISHED ^THIS BULLSHIT.

You SHOULD KNOW BETTER than to claim that campaign PROPAGANDA is "fact."

But instead, you're just a MAGA CULT suckup.

[reason10]

Just now, robosmith said:

The ONLY fact that you've posted is that Trump's campaign PUBLISHED ^THIS BULLSHIT.

You SHOULD KNOW BETTER than to claim that campaign PROPAGANDA is "fact."

But instead, you're just a MAGA CULT suckup.

I just published FACTS. And you're too STUPID to look at them and prove ANY point is wrong.

They are facts and FACTS DON'T CARE ABOUT YOUR GOOSE STEPPING FEELINGS, SNOWFLAKE.

Grow a brain.

[robosmith]

47 minutes ago, CdnFox said:

oh dear! You have forgotten what the definition of a fact is

Nope. But you never KNEW.

47 minutes ago, CdnFox said:

You realize virtually everyone who has read any of your posts is now laughing at you, right?

I understand that you're JUST TROLLING, as usual.

47 minutes ago, CdnFox said:

If that is our new definition of a fact, then the fact is you are a pathetic loser who doesn't understand the subject at hand and gets frustrated and lashes out at others when they point that out. But at least you are always amusing! LOL!

I'm not frustrated NOR LYING LIKE YOU.

1 minute ago, reason10 said:

I just published FACTS. And you're too STUPID to look at them and prove ANY point is wrong.

They are facts and FACTS DON'T CARE ABOUT YOUR GOOSE STEPPING FEELINGS, SNOWFLAKE.

Grow a brain.

You posted a bunch of CAMPAIGN BULLSHIT. NOTHING more.

[CdnFox]

4 hours ago, reason10 said:

The left wing Downs Syndrome posters here laugh at caterpillars. Not like I care what those retards think.

I don't lash out. When I'm attacked (which is all the time from the extra chromosome crowd here) I put them in their place, kind of like their fourth grade teachers would have done if they hadn't dropped out of the third grade, (and inferior BLUE STATES)

i own FACTS. AND FACTS DON'T CARE ABOUT YOUR SNOWFLAKE FEELINGS.

Well i'd say the guy i was replying to isn't all that intereseted in facts - he just likes to pretend he is

4 hours ago, robosmith said:

Nope. But you never KNEW.

I understand that you're JUST TROLLING, as usual.

I'm not frustrated NOR LYING LIKE YOU.

You posted a bunch of CAMPAIGN BULLSHIT. NOTHING more.

I know what facts are better than you do it would seem

the rest is just more of your usual whining and crying when you get caught looking stupid   Always entertaining  

[Rebound]

5 hours ago, reason10 said:

The left wing Downs Syndrome posters here laugh at caterpillars. Not like I care what those retards think.

I don't lash out. When I'm attacked (which is all the time from the extra chromosome crowd here) I put them in their place, kind of like their fourth grade teachers would have done if they hadn't dropped out of the third grade, (and inferior BLUE STATES)

i own FACTS. AND FACTS DON'T CARE ABOUT YOUR SNOWFLAKE FEELINGS.

FACT: Unemployment during the Great Depression was 25%. Under Biden it’s under 4%. 
 

So Trump is, as usual, completely FOS. And so are you, for parroting this foolishness.  

[CdnFox]

4 hours ago, Rebound said:

FACT: Unemployment during the Great Depression was 25%. Under Biden it’s under 4%. 
 

FACT:  It was under 4 pake facts when they help your point, and you sure hate them when they don't

Quote

So Trump is, as usual, completely FOS

. well he DID get unemployment under 4 percent - i've heard that was a good thing.

[Rebound]

5 hours ago, CdnFox said:

FACT:  It was under 4 pake facts when they help your point, and you sure hate them when they don't

. well he DID get unemployment under 4 percent - i've heard that was a good thing.

Irrelevant.  
What is the title of this thread?

When Trump took office, unemployment was 4.7%. It had been falling continually under the outstanding leadership of Obama/Biden. 
 

When Biden took office, unemployment was 6.3%. 
 

President Biden oversaw the creation of 339,000 new jobs in May. That brings the total of new jobs created under this administration to over 13 million. That’s more jobs created in 28 months than any President has created over 4 years.

Edited July 1, 2023 by Rebound

[CdnFox]

4 hours ago, Rebound said:

Irrelevant.  
What is the title of this thread?

When Trump took office, unemployment was 4.7%. It had been falling continually under the outstanding leadership of Obama/Biden. 
 

When Biden took office, unemployment was 6.3%. 
 

President Biden oversaw the creation of 339,000 new jobs in May. That brings the total of new jobs created under this administration to over 13 million. That’s more jobs created in 28 months than any President has created over 4 years.

When biden allowed people to go back to work after the pandemic it was the same as it was before the pandemic.

Sorry kiddo.  Like I said, this just makes it look like there is so little that you can say positive about Biden that you have to invent fake nonsense to try and justify him.

President Biden oversaw the escalation of inflation to over 9 percent. That brings the total real earnings of Americans to a historic low.