GOP view of economy disconnected from reality

[Hutch Starskey]

There is a record number of people living paycheck to paycheck, Hutch. There is also a record amount of credit card debt that people are currently carrying.

The inflation that we've been suffering under for the last two years WAS caused by the fiscal policies of government. Too much money chasing too few goods causes inflation. You learn that in basic Economics, Hutch! It was what Larry Summers warned this White House would happen if they went ahead with the massive spending they were proposing. They ignored him and we ALL paid the price for that!

Nonsense. Record means the highest ever recorded, dupe.
Inflation was not caused by the govt. it was caused by the disruptions from Covid and affected the entire world. The US has recovered more quickly and is in much better shape than the rest of the word.

In the U.S. and around the world, inflation is high and getting higher​

In the U.S. and around the world, inflation is high and getting higher

In nearly all of the 44 advanced economies we analyzed, consumer prices have risen substantially since pre-pandemic times.

www.pewresearch.org

The U.S. Economy in Global Context​

https://home.treasury.gov/news/featured-stories/the-us-economy-in-global-context

 

[jotathought]

Debt service payments are on the trend Fat Donnie boy had going. Look at the Red line from when Donnie did it. We are exactly where we are supposed to be and on its way back down.

View attachment 866241

So Kamala is full of shit? Reports on record levels of credit are inaccurate? People aren't in credit card debt? etc.?

 

[Oldestyle]

Nonsense. Record means the highest ever recorded, dupe.
Inflation was not caused by the govt. it was caused by the disruptions from Covid and affected the entire world. The US has recovered more quickly and is in much better shape than the rest of the word.

In the U.S. and around the world, inflation is high and getting higher​

In the U.S. and around the world, inflation is high and getting higher

In nearly all of the 44 advanced economies we analyzed, consumer prices have risen substantially since pre-pandemic times.

www.pewresearch.org

The U.S. Economy in Global Context​

https://home.treasury.gov/news/featured-stories/the-us-economy-in-global-context

Do you even read the things you post, Hutch? Here's a quote from the article you cited.

"Two years ago, with millions of people out of work and central bankers and politicians striving to lift the U.S. economy out of a pandemic-induced recession, inflation seemed like an afterthought. A year later, with unemployment falling and the inflation rate rising, many of those same policymakers insisted that the price hikes were “transitory” – a consequence of snarled supply chains, labor shortages and other issues that would right themselves sooner rather than later. Now, with the inflation rate higher than it’s been since the early 1980s, Biden administration officials acknowledge that they missed their call."

 

[Harpy Eagle]

Reports on record levels of credit are inaccurate?

The total amount is a record levels, but so is the number of people with debt. It is called population growth.

People aren't in credit card debt? etc.?

No more so than under the previous POTUS till the Govt started sending out free money every few months in 2020

 

[The Sage of Main Street]

Duh. No kidding. But they own everything so if the money masters are eaves dropping that was Sage's opinion you are a parasite not mine... i only think it.

Owners Aren't Earners

Absentee ownership was the same problem with Communism, too. If truth could be told instead of sold, those who devised laissez-faire and those who devised Statism came from the same spoiled and bossy, sheltered and ignorant birth-class.

 

[citygator]

So Kamala is full of shit? Reports on record levels of credit are inaccurate? People aren't in credit card debt? etc.?

Record level of income, record levels of debt but in line with history. Historically people are in debt... not sure why you'd think people in the US wouldnt be in debt.

 

[Hutch Starskey]

Do you even read the things you post, Hutch? Here's a quote from the article you cited.

"Two years ago, with millions of people out of work and central bankers and politicians striving to lift the U.S. economy out of a pandemic-induced recession, inflation seemed like an afterthought. A year later, with unemployment falling and the inflation rate rising, many of those same policymakers insisted that the price hikes were “transitory” – a consequence of snarled supply chains, labor shortages and other issues that would right themselves sooner rather than later. Now, with the inflation rate higher than it’s been since the early 1980s, Biden administration officials acknowledge that they missed their call."

What’s your point?

 

[Ringo]

Some guys don't understand how modern imperialism works. I tell you.
Capturing territories is no longer relevant, they just take control of your economy and that's it: you will live in "your" country, but your mine will be american and you will work it for $5 a day.

 

[dudmuck]

Yes, you moron, how much did the tax cut supposedly cost the government?
Are you drunk? Or just stupid?

 

[Toddsterpatriot]

Can you help your buddy Otto with his math?

 

[HikerGuy83]

Read the link. I’m not kidding.

But you are a moron.

Prices remain at 20 to 25% above 18 months ago. Inflation has done it's damage.

Interest rates are high and people are still buying houses because of the pent up demand from COVID.

That tells you something about where the economy is going.

Go ahead and run on the idea that the economy is great.

It should be fun to watch (not that Biden can even say economy without biting his tongue).

 

[citygator]

But you are a moron.

Prices remain at 20 to 25% above 18 months ago. Inflation has done it's damage.

Interest rates are high and people are still buying houses because of the pent up demand from COVID.

That tells you something about where the economy is going.

Go ahead and run on the idea that the economy is great.

It should be fun to watch (not that Biden can even say economy without biting his tongue).

Wages are up to 2019 even when adjusted for inflation. You haven’t lost ground. If you have, you are an outlier and you should work harder at being valuable to society. They will pay you if you have value. Only the democratic platform helps people who are still struggling. The GOP to give more money to the wealthy wont help you if you are having trouble making ends meet.

 

[Oddball]

 

[Oddball]

Wages are up to 2019 even when adjusted for inflation. You haven’t lost ground. If you have, you are an outlier and you should work harder at being valuable to society. They will pay you if you have value. Only the democratic platform helps people who are still struggling. The GOP to give more money to the wealthy wont help you if you are having trouble making ends meet.

Right....The lived experience of hundreds of millions of people are total bullshit.

 

[dudmuck]

View attachment 870397

 

[HikerGuy83]

Wages are up to 2019 even when adjusted for inflation. You haven’t lost ground.

And you are the one saying others are disconnected from reality.

Large percentage of Americans report they’re struggling to make ends meet | SSTI

ssti.org

Almost 90 Million American Adults Struggle to Make Ends Meet, Census Says

More Americans struggle to meet expenses now than in the immediate aftermath of the Covid-19 pandemic, when millions lost their means of employment, a Census Bureau survey showed.

www.bloomberg.com

Amid inflation, more middle-class Americans struggle to make ends meet

Financial well-being is deteriorating overall but middle-class households have been particularly hard hit.

www.cnbc.com

 

[JohnDB]

Here ya go...
More proof.
And BTW....the spot in just before 2010....that one is Biden/Obama as well.
Just saying.

 

[JohnDB]

Here's more proof

 

[Oddball]

 

[Bob Blaylock]

Republicans have never been more disconnected from the performance of an economy. The robust economic environment has defied it’s naysayers with its resiliency and is delivering a record year. You wouldn’t know it to talk to a republican though. The data shows republicans opinions of the economy have little if anything to do with its actual performance.

A good summary of the republican perception disconnect from reality.

Opinion | Republicans’ views of the economy are detached from reality

Consumer spending is strong, and Americans are starting new businesses at the highest rates since the Census Bureau began tracking this data in 2006. Yet when pollsters ask people how they think the economy is doing, they don’t just express concern. They say the economy is terrible.

The polling data doesn’t show that Americans think the economy stinks so much as it shows that Republicans say it stinks.

Some partisanship has always existed in polling about the economy: When there’s a Democrat in the White House, Democrats are more likely to say the economy is good than Republicans, and both sides change their opinions when the White House changes hands. But this difference has grown in recent years — and grown unequally. A pair of economists who examined decades of polling data concluded, “While both Republicans and Democrats view the economy more favorably when their party controls the White House, the magnitude of this partisan bias is roughly two and a half times larger for Republicans than for Democrats.”

We can see how that is playing out right now. In the latest edition of the University of Michigan’s Index of Consumer Sentiment, the average Democratic score is over twice as high as the Republican score. But what is most striking is just how awful Republicans say the economy is. Their index score for this month is significantly lower than the score they gave the economy in the depths of the Great Recession in 2008 and 2009, when the economy was bleeding hundreds of thousands of jobs every month.