Biden touts bidenomics

[TroglocratsRdumb]

Joey Garrison USA TODAY

Biden touted "good news today" following the Labor Department's Friday announcement that a booming 336,000 jobs were added in September, the strongest monthly gain since January and eclipsing forecasts of 170,000 jobs added last month. The unemployment rate held steady at 3.8%.

"We have the highest share of working-age Americans in the workforce in 20 years," Biden said in remarks from the White House's Roosevelt Room. "And it's no accident. It's Bidenomics."
"I think the 300,000-plus people who got jobs feel better about the economy," Biden said. "The American people are smart as hell and know what their interests are. I think they know they're better off financially than they were before. It's a fact."
Nearly 70% of Americans said the economy is getting worse, according to a USA TODAY/Suffolk University poll last month, while only 22% said the economy is improving. Eighty-four percent of Americans said their cost of living is rising, and nearly half of Americans, 49%, blamed food and grocery prices as the main driver.

President Biden blames the media for Americans' negative views of the economy

"You get more legs when you're reporting something that's negative," President Biden said of Americans' pessimism about the economy.

www.usatoday.com

Comment:
WTH is bidenomics?
Is bidenomics crimpling inflation?
Is bidenomics a dangerous national debt?
Is bidenomics high interest rates?
Is bidenomics record credit card debt?
Is bidennomics a crashing housing market?
Is bidenomics $5 gasoline?
Is bidenomics unaffordable cars?

 

[rightwinger]

Our President has added 14 million jobs since he took office

 

[excalibur]

Industries returning to pre-pandemic levels, and nothing to do with any Biden policies.

In fact, Biden's policies have hindered a return to pre-pandemic levels.

Leisure and hospitality added 96,000 jobs in September, above the average monthly gain of 61,000 over the prior 12 months. Employment in food services and drinking places rose by 61,000 over the month and has returned to its pre-pandemic February 2020 level.

Accommodation employment continued to trend up over the month (+16,000) but remains below its February 2020 level by 217,000, or 10.3 percent.

In September, government employment increased by 73,000, above the average monthly gain of 47,000 over the prior 12 months. Over the month, job gains occurred in state government education (+29,000) and in local government, excluding education (+27,000). Employment in government is slightly below (-9,000) its February 2020 level.​

Employment Situation Summary - 2024 Q01 Results

www.bls.gov

 

[BlueGin]

Our President has added 14 million jobs since he took office

No he hasn’t.

 

[rightwinger]

No he hasn’t.

You are correct
Biden has added 13.9 million jobs to the economy

 

[Magnus]

Our President has added 14 million jobs since he took office

I’ll join you.

 

[rightwinger]

I’ll join you.

Want to know how many jobs Trump created?
He didn’t

He lost 3 million jobs

 

[Magnus]

Want to know how many jobs Trump created?
He didn’t

He lost 3 million jobs

Every American should be happy that the economy is doing great, jobs are being created.

But of course, for traitors, it is bad news.

 

[Harry Dresden]

Our President has added 14 million jobs since he took office

thats great a bunch of people got work....now when is the grocery prices going down?.....how about the utilities?.....

 

[White 6]

Joey Garrison USA TODAY

Biden touted "good news today" following the Labor Department's Friday announcement that a booming 336,000 jobs were added in September, the strongest monthly gain since January and eclipsing forecasts of 170,000 jobs added last month. The unemployment rate held steady at 3.8%.

"We have the highest share of working-age Americans in the workforce in 20 years," Biden said in remarks from the White House's Roosevelt Room. "And it's no accident. It's Bidenomics."
"I think the 300,000-plus people who got jobs feel better about the economy," Biden said. "The American people are smart as hell and know what their interests are. I think they know they're better off financially than they were before. It's a fact."
Nearly 70% of Americans said the economy is getting worse, according to a USA TODAY/Suffolk University poll last month, while only 22% said the economy is improving. Eighty-four percent of Americans said their cost of living is rising, and nearly half of Americans, 49%, blamed food and grocery prices as the main driver.

President Biden blames the media for Americans' negative views of the economy

"You get more legs when you're reporting something that's negative," President Biden said of Americans' pessimism about the economy.

www.usatoday.com

Comment:
WTH is bidenomics?
Is bidenomics crimpling inflation?
Is bidenomics a dangerous national debt?
Is bidenomics high interest rates?
Is bidenomics record credit card debt?
Is bidennomics a crashing housing market?
Is bidenomics $5 gasoline?
Is bidenomics unaffordable cars?

You should move.
Inflation certainly isn't crippling here.
I am sure you are glad the National debt (which went vertal in 2019 under Trump as resumed climbing at the same rate as the trump years prior.
Can't help you on your interest rate. If I do borrow, it is at 2.4% so, you must plan poorly or are just a bad risk.
I can't help you with your record credit card debt either, as I only have two and keep them zeroed by end of month to avoid interest. You should try it. It simply takes self-discipline.
Housing prices are outrageous high here and people are paying it left and right with houses not staying on the market long at all if the house is worth a crap.
Gas? I can go 3 blocks and buy for $3.02 or drive 2 miles to Kroger and get an average 60 cents off a gallon, making the price around $2.50 / Gallon.
Car prices are indeed ridiculous.
But with the increased employment and hiring, the fact that wage increases have gotten ahead of in for the first time since i was a young man, the Dow historic chart shows us considerably higher than during the Trump years (and most of my investments are backed against the DOW) I really cannot complain about Bidenomics. You should plan better, manage better or maybe get out of your safe space and go find a better job, like everybody else that works for a living, as the jobs are out there, or at least they are hiring around here.
I hope you are back on your financial feet, real soon.

 

[TroglocratsRdumb]

You should move.
Inflation certainly isn't crippling here.
I am sure you are glad the National debt (which went vertal in 2019 under Trump as resumed climbing at the same rate as the trump years prior.
Can't help you on your interest rate. If I do borrow, it is at 2.4% so, you must plan poorly or are just a bad risk.
I can't help you with your record credit card debt either, as I only have two and keep them zeroed by end of month to avoid interest. You should try it. It simply takes self-discipline.
Housing prices are outrageous high here and people are paying it left and right with houses not staying on the market long at all if the house is worth a crap.
Gas? I can go 3 blocks and buy for $3.02 or drive 2 miles to Kroger and get an average 60 cents off a gallon, making the price around $2.50 / Gallon.
Car prices are indeed ridiculous.
But with the increased employment and hiring, the fact that wage increases have gotten ahead of in for the first time since i was a young man, the Dow historic chart shows us considerably higher than during the Trump years (and most of my investments are backed against the DOW) I really cannot complain about Bidenomics. You should plan better, manage better or maybe get out of your safe space and go find a better job, like everybody else that works for a living, as the jobs are out there, or at least they are hiring around here.
I hope you are back on your financial feet, real soon.

inflation is a real problem

MSN

As inflation remains high — and interest rates climb — paying bills has become increasingly difficult for many Americans. Indeed, 82% of adults as of October said they expected to be able to pay all their bills in full that month, down 4 percentage points from 2021, and near a level last seen in 2018, according to the Economic Well-Being of US Households report released by the Federal Reserve in May 2023. What’s more, a United States Census Household Pulse survey from February 2023 revealed that 39.7% of consumers said it was ‘somewhat’ to ‘very difficult’ to pay their usual bills, up from 32.3% the year prior.

 

[Harry Dresden]

inflation is a real problem

MSN

As inflation remains high — and interest rates climb — paying bills has become increasingly difficult for many Americans. Indeed, 82% of adults as of October said they expected to be able to pay all their bills in full that month, down 4 percentage points from 2021, and near a level last seen in 2018, according to the Economic Well-Being of US Households report released by the Federal Reserve in May 2023. What’s more, a United States Census Household Pulse survey from February 2023 revealed that 39.7% of consumers said it was ‘somewhat’ to ‘very difficult’ to pay their usual bills, up from 32.3% the year prior.

but the biden political commercial crap on TV said everything is just great....

 

[White 6]

inflation is a real problem

MSN

As inflation remains high — and interest rates climb — paying bills has become increasingly difficult for many Americans. Indeed, 82% of adults as of October said they expected to be able to pay all their bills in full that month, down 4 percentage points from 2021, and near a level last seen in 2018, according to the Economic Well-Being of US Households report released by the Federal Reserve in May 2023. What’s more, a United States Census Household Pulse survey from February 2023 revealed that 39.7% of consumers said it was ‘somewhat’ to ‘very difficult’ to pay their usual bills, up from 32.3% the year prior.

Look, you're young, I'm getting old. This is nothing new to me, just new to you and I made it through a lot worse. I graduated in 1973 (Nixon in office inflation 6.18%) bought my first new vehicle in 1974 (inflation 11.05%) got married in 1975 (Ford in office, inflation 9.14%) Centennial year 1976 plant closure job market sucked, joined military (Carter in office, OPEC oil embargo,dbl nickle speed limit, inflation 5.74 heading to 13.55% by 1980. Voted Reagan. 1981 (inflation 10.33%) 1982 (inflation 6.13%) 1983 (inflation 3.21%) 1984 (inflation 4.30%) dropping to 1.90% in 1986 before trending back up to 4.08%) liking how Reagan worked out, voted George Bush in 1988. 1989 (inflation 4.83%) 1990 Saddam invades Kuwait, Bush in office (inflation 5.4%) He and Margret Thatcher put together a 41 country coalition to kick Saddam out of Kuwait. 1991 Thoroughly kicked Saddam's ass, textbook combined arms multinational operation, destroying his army with minimal friendly casualties and ZERO Mission Creep, perfect, it doesn't get any better, never has/never will (inflation 4.24%) Republican wanted peace divident & tax break, Bush knew the war needed paying for, raised taxes, you guys were obviously not going to support, even with a stunning military victory and decreasing inflation 1992 (inflation 3.03) Bill Clinton elected. Inflation stayed between 2.95% and 2.019% under the Clinton admin to 1999 with an expanding economy, expanding workforce. Iraq became a gentlemen's war zone with a no fly for Iraq, with Awacs overhead and recky flights, occasionally blowing a radar if Saddam dared to turned it on or shooting down an Iraqi plane if necessary, then back to base for dinner at the O-Club through 2000 (inflation rose to 3.38%, Son-ova-Bush was elected. 9/11/2001 a successful attack allowed on our homeland, (inflation dropped by 2002 to 1.59%) Son-ova-Bush sends troops to Afghanistan to find Bin Ladin, Mission Fail as it drug on without success, he trumps up a war in Iraq on false pretense, destroying Saddam but destablizing entire region killing 4,799 friendly forces for his adventure, after being told if he breaks it, he buys it and we have been there ever since. 2007-2008 the Son-ova-Bush economic crash (inflation rises to 3.84%) factories close (mine included) people losing homes, cars, life savings, Job market goes to shit, Obama elected 2008, In 2009 inflation drops to negative (-.39%) 2010 we start to come out of the Son-ova-Bush economic crash (inflation 1.64%) Economy continues to improve, hiring returns, economy espanding 2011 (inflation peaks during Obama admin at 3.16% before dropping to .12% in 2015 before rising to 1.26 at end of Obama Admin in 2016. Trump Elected In 2017 (inflation 2.13 and 2.44% in 2018) before falling to 1.23 in 2020 and falling to .12% in May of 2020 before starting to rise to 1.40% as Trump left office. It must be noted, the Trump administration poured 2.2 Trillion Dollars directly into the economy in March of 2020, both to individuals and businesses, not generated by the economy but direct government output, a highly inflationary sum, requiring no production and generating no Federal taxes but only state sales taxes as spent. This kicked off the inflation cycle. Biden came in and put an additional 1.9 Trillion, again highly inflationary free money. Exacerbating the problem, giving Biden Administration and June 2022 inflation peak of 9.06% a numbers less than seen in the Reagan administration or the Carter Administration, those being other times of high inflation. Also it should be noted with the expanding economy and jobs creation, along with increased productivity that inflaction dropped from 9.06 in June 2022 to an August 2023 inflation rate of 3.67.
This is just what happens when two administration dump 4 Trillion Dollars directly into the economy by running the presses in a two year period.
I have no idea if you took Econ in college. I did and made A's as well as A's in every other business or finance course taken, as that is how you get to be a National Honors Graduate of the 14th highest rated Universtiy Business school east of the Mississippi. That said, and with my personal experience with much higher rates of inflation, this inflation doesn't mean dick to me. You cannot expect, somebody like me, who has not only lived it, but studied it, to sweat our present rate of inflation. As economies I have lived through since 1973 in my working time, this is a good economy, no matter what your emotions or political focus is erroneously telling you.

 

[BlueGin]

You are correct
Biden has added 13.9 million jobs to the economy

Part time jobs people need as side work to pay the bills they can no longer afford due to his crappy economy. Plus COVID restarts due to democrat shut downs that destroyed livelihoods.

 

[Winco]

inflation is a real problem

Trump LOST 3 Million Jobs.
This ^^^ is a FACT.

 

[White 6]

Part time jobs people need as side work to pay the bills they can no longer afford due to his crappy economy. Plus COVID restarts due to democrat shut downs that destroyed livelihoods.

You mean with more people working than ever before, and wages higher than the inflation rate (unusual after the stagnant wage growth 2000 to 2021, Dow better than during the trump admin, hiring still continuing to increase (366,000 last month, you do not like the economy?
What is it, you do for a living, where you cannot find a decent job?

 

[wamose]

The same people who crow about Bidenomics are also the ones who boast that the border is secure. No credibility.

 

[Harpy Eagle]

Part time jobs people need as side work to pay the bills they can no longer afford due to his crappy economy. Plus COVID restarts due to democrat shut downs that destroyed livelihoods.

The percent of people working multiple jobs was higher during most of the Trump term than it is now. Was that because the economy was so crappy?

 

[JohnDB]

 

[JohnDB]