The Inconvenient Truth About The Economy: Democrats Do It Better

[postman]

Biden inherited 1.2% inflation and 6.4% GDP
Carter created stagflation and the largest S&L bank failure in history.

Gross Domestic Product, 4th Quarter and Year 2020 (Advance Estimate) | U.S. Bureau of Economic Analysis (BEA)

h3 small {display: block;} Real gross domestic product (GDP) increased at an annual rate of 4.0 percent in the fourth quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4 percent.

www.bea.gov

GDP for 2020

Real GDP decreased 3.5 percent in 2020 (from the 2019 annual level to the 2020 annual level),

 

[Hafar1014]

Ronald Reagan did massive government spending.
So much so, that Reagan tripled the national debt.
tripled the national debt with his spending.

Reagan had to rebuild the military after Carter cut it to dangerous levels and that build up defeated the Soviets. 4 years after Reagan fixed the Carter disasdter we had 10 years of GDP growth. It took 4 years to fix the Carter mess. Then Carter passed the CRA Community Reinvestment Act that caused the mortgage crash under Bush.

 

[postman]

Then Carter passed the CRA Community Reinvestment Act that caused the mortgage crash under Bush.

Let me see, Jimmy Carter left office in 1980
Bush housing crisis happened in 2008

More than a quarter century and six presidential terms later.

 

[Hafar1014]

Let me see, Jimmy Carter left office in 1980
Bush housing crisis happened in 2008

More than a quarter century and six presidential terms later.

The CRA was the cause. It was a mortgage crisis not a housing crisis. The CRA forced banks to accpet quotas of bad loans mostly from blacks. When Bush was president democrats controlled both houses. Head of banking was Barny Frank and Chriss Dodd. Frank was the butt boy for a high level fanny mae executive. Dodd was taking bribes from Country Wide Mortgage. Both refused to run for reelection. The government backed 90% of these subprime loans.

 

[AntonToo]

Bidens growth was 40% government spending based on debt which means printed money.

Can you show math on that?

 

[Hafar1014]

Can you show math on that?

President Biden’s economic policy, or "Bidenomics," heavily utilized large-scale government spending—via acts like the American Rescue Plan, Infrastructure Investment and Jobs Act, and CHIPS Act—to drive growth, manufacturing, and infrastructure, totaling trillions in new outlays. While proponents argue this spurred record private investment, critics contend it fueled high inflation and record national debt.
Here are the key aspects regarding the role of government spending in the Biden economy:

Key Spending Drivers & Policies

• Major Legislation: Key funding came from the $1.9 trillion American Rescue Plan (2021), the $1 trillion+ Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act.
• Focus Areas: Investments targeted clean energy, manufacturing, semiconductor production, roads, bridges, and broadband.
• Total Scope: Analyses indicate historic levels of public investment, with some reports citing over $11 trillion in total spending overseen during his term.

Economic Impacts & Debates

• Proponent View (Investment "Crowding-In"): The administration argues public dollars successfully "crowded-in" hundreds of billions in private manufacturing and clean energy investments.
• Critic View (Inflation & Debt): Opponents argue the massive deficit spending ignited an "inflationary firestorm," increased the national debt significantly, and led to a cost-of-living crisis.
• Productivity Goals: Supporters believe these investments will bolster long-term productivity growth.

In essence, the administration adopted an active industrial policy where federal funds were used to directly stimulate specific sectors, bridging public outlay with private sector growth.
===========================================================================
Democrats’ tax-and-spend bill, if made permanent, would cost $5 trillion and add $3 trillion to the deficit.

• According to analysis by the non-partisan congressional scorekeeper, the Congressional Budget Office (CBO) and non-partisan Joint Committee on Taxation (JCT) found that Democrats’ bill, if made permanent (as Democrats have pledged) will cost $5 trillion and add $3 trillion to the deficit.
• The Committee for a Responsible Federal Budget released an analysis with similar findings in late November 2021, which found that the bill is not paid for and that Democrats’ SALT tax shelter for the wealthy makes it worse.

RESOURCES: Everything You Need to Know About Democrats’ Tax-and-Spend Bill

40-year high inflation is a direct result of the Biden Administration’s policies.

• Analysis from the Federal Reserve Bank of San Francisco confirmed that the Biden Administration’s $1.9 trillion emergency spending boosted Bidenflation.
• In fact, a top Federal Reserve official warned of growing risks of inflation from additional government spending being considered by the Biden Administration, saying, in part: “This could spark a wage-price spiral.”

STUDY: Biden’s Unemployment Bonus Held Back Economic Recovery

The burden of Democrats’ spending and tax hikes falls on American families and small businesses.

• The JCT found that workers will shoulder the burden of Democrats’ tax hikes. Within 10 years of a corporate tax increase, 66.3 percent of the corporate tax burden would be borne by lower- and middle-income taxpayers.
• It’s not just the JCT – analysis from the Left-leaning Tax Policy Center found that President Biden’s overall tax plan will raise taxes on 75 percent of middle-class families next year, rising to 95 percent of middle-class families over the long term.

 

[AntonToo]

Inflation crushed the middle class gas was 5 dollars a gallon.

Ignorant, made up hysteria.

REAL income was higher when Biden left office, not only middle class was not crushed, but was better off than it was before the pandemic in real terms because raises outpaced inflation in 2023 and 2024.

Gasoline was $3 in 2023 and 2024, why lie?

 

[AntonToo]

Biden inherited 1.2% inflation

But it was mostly Trump economy for at least a year, right?

Or is intellectually consistency not something you do?

 

[AntonToo]

President Biden’s economic policy, or "Bidenomics," heavily utilized

I'm not interested in your copy and paste piles of bullshit, I want to actually ANSWER what you've quoted.

You've claimed that

"Bidens growth was 40% government spending based on debt which means printed money."

I want you to concisely show source/math on that.

Let me show you how it's done:

GDP for end of 2024 was 29.18T
GDP for end of 2025 was 30.62T
National debt increase in 2025 - ~2T

So that's 1.5T GDP growth...with 2T debt increase under Trump, which means "100%+ of GDP growth under Trump in 2025 is government deficit spending based"

 

[Hafar1014]

I'm not interested in your copy and paste piles of bullshit, I want to actually ANSWER what you've quoted.

You've claimed that

"Bidens growth was 40% government spending based on debt which means printed money."

I want you to concisely show source/math on that.

Let me show you how it's done:

GDP for end of 2024 was 29.18T
GDP for end of 2025 was 30.62T
National debt increase in 2025 - ~2T

So that's 1.5T GDP growth...with 2T debt increase under Trump, which means "100%+ of GDP growth under Trump in 2025 is government deficit spending based"

Where do you think 9% inflation came from. Bidens printed money economy

 

[postman]

Where do you think 9% inflation came from. Bidens printed money economy

No, it came from the broken supply chain.

Remember how much you had to pay for a roll of toilet paper, if you could find one.

In the past year, 36 percent of the toilet paper
increased in price by at least 20 percent, and 11
percent at least doubled in price. Amazon directly sold
13 percent of the products with price increases of 20
percent or more. Overall, the highest price increase on
toilet paper was $79.04 -- from $30.95 to $109.99 --
for a 36-roll package. The graph below shows these
price points on Dec. 1 of both years, along with the
newest price as of Dec. 28.

 

[Hafar1014]

No, it came from the broken supply chain.

Remember how much you had to pay for a roll of toilet paper, if you could find one.

In the past year, 36 percent of the toilet paper
increased in price by at least 20 percent, and 11
percent at least doubled in price. Amazon directly sold
13 percent of the products with price increases of 20
percent or more. Overall, the highest price increase on
toilet paper was $79.04 -- from $30.95 to $109.99 --
for a 36-roll package. The graph below shows these
price points on Dec. 1 of both years, along with the
newest price as of Dec. 28.

It came from Bidens massive spending and suppression of oil production below demand driving up oil costs. Pure stupidity

 

[Eman623]

It is a very inconvenient truth for the GOP, that since WW2, the economy has performed significantly better under Democrats than Republicans. The exact reasons are debated, but the numbers are the numbers.

• Economic growth, job creation, and stock-market performance have historically been stronger, on average, during Democratic presidencies.
• Every Republican president over roughly the last 50 years has experienced a recession during their term.
• The overwhelming majority of net job creation over the past half-century occurred under Democratic presidents.
• Deficits widen during Republican administrations and narrow during Democratic ones (often after Democrats inherited large deficits).

Vote with your pocket book next election folks.


View attachment 1216704

New report finds that the economy performs better under Democratic presidential administrations

For well over a decade economists and other social scientists have documented a strong advantage in economic performance during Democratic administrations. A new Economic Policy Institute report updates this work to the latest data available and confirms that this Democratic advantage persists...

www.epi.org

The U.S. Economy Performs Better Under Democratic Presidents - The U.S. Economy Performs Better Under Democratic Presidents - United States Joint Economic Committee

www.jec.senate.gov

The U.S. economy has performed much better under Democratic presidents than Republican presidents in the modern era. In almost every measure of the U.S. economy including total job growth, unemployment, economic growth, manufacturing job growth, manufacturing investment, small business creation, and contribution to the national debt, economic performance is stronger under Democrats. While there are many factors contributing to these trends, the throughline is clear that Democratic administrations consistently help the U.S. economy perform better than Republican administrations.

The OP has it backwards. The president doesn't control the economy. The economy controls the presidency.

Voters elect Dems during bad times. Dems increase taxes and regulation. Eventually the economy improves ON ITS OWN. Because good times never last and bad times never last.

When the economy improves enough, people vote in Republicans who will keep taxes and regulation low. these are the good times. Eventually the good times go bad (because good times do not last forever) and the cycle repeats.

There's a reason why a Dem president presided over the Great Depression

 

[Hafar1014]

The OP has it backwards. The president doesn't control the economy. The economy controls the presidency.

Voters elect Dems during bad times. Dems increase taxes and regulation. Eventually the economy improves ON ITS OWN. Because good times never last and bad times never last.

When the economy improves enough, people vote in Republicans who will keep taxes and regulation low. these are the good times. Eventually the good times go bad (because good times do not last forever) and the cycle repeats.

There's a reason why a Dem president presided over the Great Depression

The president does control the economy. Biden is a perfect example. He spent massive amounts of borrowed money with the help of democrats into a 6.4% GDP. He suppressed oil production below demand. That drove up inflation to 9% in one year. A better argument is a president can stop destructive policies as we see after Trump was elected.
Your point that everything happens by itself is the dumbest post of the day.

 

[citygator]

The OP has it backwards. The president doesn't control the economy. The economy controls the presidency.

Voters elect Dems during bad times. Dems increase taxes and regulation. Eventually the economy improves ON ITS OWN. Because good times never last and bad times never last.

When the economy improves enough, people vote in Republicans who will keep taxes and regulation low. these are the good times. Eventually the good times go bad (because good times do not last forever) and the cycle repeats.

There's a reason why a Dem president presided over the Great Depression

Brilliant... the leader of the country has no impact on the country getting better or worse during their administration but every time we elect dems it gets better on its own and every time we elect a republican it gets worse on its own. And its democrats fault. That is your theory?

Plus you messed up on the Great Depression. Republican was in office when it hit and a democrat dug it out over the course of a decade... just like Obama did after the Great Recession.

You guys crack me up.

 

[Hafar1014]

Brilliant... the leader of the country has no impact on the country getting better or worse during their administration but every time we elect dems it gets better on its own and every time we elect a republican it gets worse on its own. And its democrats fault. That is your theory?

Plus you messed up on the Great Depression. Republican was in office when it hit and a democrat dug it out over the course of a decade... just like Obama did after the Great Recession.

You guys crack me up.


View attachment 1217208

The great recession was created when Carter and democrats passed the Community Reinvestment Act that forced banks to accept quotas of bad loans from the black community. This created the mortgage recession when these subprime mortgages defaulted under Bush. Bush put through the reforms before Obama was elected

 

[citygator]

The great recession was created when Carter and democrats passed the Community Reinvestment Act that forced banks to accept quotas of bad loans from the black community. This created the mortgage recession when these subprime mortgages defaulted under Bush. Bush put through the reforms before Obama was elected

**** off troll. That claim is incorrect. The Community Reinvestment Act was passed in 1977 and did not require ‘quotas’ or force banks to make bad loans. Racist bullshit from you.

The toxic subprime mortgages that triggered the 2008 crisis were issued in the 2000–2007 housing bubble by lightly regulated mortgage lenders and securitized by Wall Street, many of which were not even subject to CRA rules. Multiple post-crisis investigations, including the Financial Crisis Inquiry Commission, found that the primary drivers were the housing bubble, lax lending standards across the entire market, and complex mortgage-backed securities—not the CRA

 

[Hafar1014]

**** off troll. That claim is incorrect. The Community Reinvestment Act was passed in 1977 and did not require ‘quotas’ or force banks to make bad loans. Racist bullshit from you.

The toxic subprime mortgages that triggered the 2008 crisis were issued in the 2000–2007 housing bubble by lightly regulated mortgage lenders and securitized by Wall Street, many of which were not even subject to CRA rules. Multiple post-crisis investigations, including the Financial Crisis Inquiry Commission, found that the primary drivers were the housing bubble, lax lending standards across the entire market, and complex mortgage-backed securities—not the CRA

The whole point of the CRA was to stop redlining in black communities so they could buy homes. It failed because the problem was blacks had bad credit ratings no down payments.

The Community Reinvestment Act (CRA) of 1977 is a landmark U.S. federal law designed to prevent redlining and encourage insured depository institutions to meet the credit needs of their entire communities, particularly low- and moderate-income (LMI) neighborhoods. It requires federal regulators (FDIC, Federal Reserve, OCC) to evaluate bank lending, investments, and services, using these ratings to assess applications for mergers or expansions.
Key Aspects of the Community Reinvestment Act:

• Purpose: To combat discriminatory lending practices (redlining) and ensure banks serve all community segments, including underserved neighborhoods.
• Scope:
  Applies to federally insured banks and savings associations
  .
• • Evaluation Process: Regulators, such as the Federal Reserve Board and FDIC, conduct regular exams to determine how well an institution meets local credit needs.
  • Ratings: The performance ratings—Outstanding, Satisfactory, Needs to Improve, or Substantial Noncompliance—are public, say the Federal Reserve Board and Investopedia.
  • Impact: Promotes access to credit, homeownership, and economic opportunity, according to the St. Louis Fed and NCRC.
  • Modernization: The OCC and other regulators have updated, and continue to modernize, the regulation to better reflect the digital banking era, as explained by the Federal Reserve Board and OCC.
  • According to American Enterprise Institute fellow Edward Pinto, Bank of America reported in 2008 that its CRA portfolio, which constituted 7% of its owned residential mortgages, was responsible for 29 percent of its losses. He charged that "approximately 50 percent of CRA loans for single-family residences ... [had] characteristics that indicated high credit risk", yet, per the standards used by the various government agencies to evaluate CRA performance at the time, were not counted as "subprime" because borrower credit worthiness was not considered.<a [</span>132<span>]</span></a> Another CRA critic, Joseph Fried, concedes that "some of this CRA subprime lending might have taken place, even in the absence of CRA. For that reason, the direct impact of CRA on the volume of subprime lending is not certain."<a href="Community Reinvestment Act - Wikipedia"><span>[</span>133<span>]</span></a> A study by the economists, Agarwal, Benmelich, and Bergman, found that banks undergoing CRA-related regulatory exams took additional mortgage lending risk.

 

[Eman623]

The president does control the economy. Biden is a perfect example. He spent massive amounts of borrowed money with the help of democrats into a 6.4% GDP. He suppressed oil production below demand. That drove up inflation to 9% in one year. A better argument is a president can stop destructive policies as we see after Trump was elected.
Your point that everything happens by itself is the dumbest post of the day.

Biden had the congress behind him. Without that, he could not have spent a penny.

But even if Biden had not shoveled money into the economy, it would have turned around once the lockdowns ended.

 

[Eman623]

Brilliant... the leader of the country has no impact on the country getting better or worse during their administration but every time we elect dems it gets better on its own and every time we elect a republican it gets worse on its own. And its democrats fault. That is your theory?

Plus you messed up on the Great Depression. Republican was in office when it hit and a democrat dug it out over the course of a decade... just like Obama did after the Great Recession.

You guys crack me up.

The cult of the presidency is strong in this one.

The economy is 340 million Americans making billions of economic decisions every day. Not one guy in Washington. He's a powerful guy to be sure. But his impact is dwarfed by the combined impact of everyone else.