The issue is that we had low unemployment before without the inflation and higher taxes. If you just get back to the same unemployment as before, but to get there you have to spend six trillion dollars and have 8% inflation, that isn't great. I would much rather have the same unemployment numbers without 8% inflation. In fact, I would rather have 8% unemployment without the inflation and higher taxes. No, spending whatever it takes to drive down unemployment is not a good idea. Here is what conservative bastion CNN had to say about Biden's job creation numbers: (62) Fact check: Biden's claim about 12 million new jobs (cnn.com) Anyone can spend 10.5 trillion dollars and grow 12 million jobs. That's about 875,000 dollars in federal spending per job. You can think it is great if you want. It isn't great for the people paying the bills.
What drugs are you on??? 10 trillion ? Biden stimulus was 2 trillion and the other bills were mostly paid for. You say tax hikes but a global minimum tax which forces corporations to pay a minimum of 15% is the opposite of neoliberal and its good biden got it passed. Why do you want corporate America to literally pay ZERO in taxes. You just spew random garbage and see what sticks on the wall. You make no coherent talking point other than disinformation. Bidens investment that are creating jobs (infrastructure, chips, IRA) are more than just job bills. They're rehsoring critical supply chains. And not anyone can just "spend money" when congress controls the purse and senators are usually conservative. Again you make no coherent talking points. The 8% inflation that youre blabbering about were due to russia invasion of Ukraine. In fall of 21 it was cooling off around 5-6% which is absolutely fine. Years of elevated unemployment is worse than anything else These folks are crazy. Biden never issued any lockdowns ever. Their cult leader did
I’m not sure why you are wasting your time with this poster? He seems to be off when it comes to Joey B.
@StupidMoniker @astros123 The inflation you see has nothing to do with either Biden nor Trump. Presidents don't impact inflation that much. It has to do with a pandemic that impacted supply chains and savings/spend from consumers. Gov't doesn't print money. You had people who didn't travel or spend as much money because of the pandemic, and you had disruption to supply chains - that's a 1-2 punch for inflation. You also had a war going on in Ukraine. So 1-2-3. If you want to look at Biden's COVID relief of 2 trillion you also have to look at Trump's 2.7 trillion tax cuts for the wealthy - but even together I doubt they had much impact on inflation.
Lockdowns were mostly done at the state level, not by the President. The Federal Reserve prints money, and it has a not exactly entirely independent relationship with the federal government. Technically you are right though, the US Government borrows money. 10.5 trillion dollars was US federal spending in 2021 and 2022. We shouldn't be reshoring critical supply chains, goods and services should be bought and sold in a free market. The Democrats has control of the Presidency and both houses of Congress for the first two years of President Biden's term, and spending bills can be passed through reconciliation, which doesn't allow those darn conservative Senators to block passage on bare majority (or even tie) vote. So yes, with that situation anyone can just spend money. Every other time in history increase in the money supply through government spending has caused inflation, but I am sure this time it didn't have an effect and it was all because of a war in Ukraine. Inflation was ballooning before the war, but that was probably speculation about the war or something. States issued lockdowns. California shut down businesses and fined people that tried to stay open. Monetary policy is the basis of inflation. More money supply is the definition of inflation. Price inflation has multiple causes, but monetary inflation is a primary factor. Prices don't go up when people are spending less money. Prices go up when more money is chasing the same amount or fewer goods. Sending thousands of dollars in cash payments to people to do with what they will means that money is going to be spent, injecting more money into the system without a commensurate increase in productivity (because you are paying people money for nothing). More money chasing the same goods (or fewer goods with supply chain disruptions (though I would say the pandemic and lockdowns were far more disruptive of supply chains than the war in Ukraine). California's pandemic restrictions made the ports huge bottlenecks in the supply chain, because they couldn't offload the ships fast enough. Tax cuts for the wealthy are not as big a contributor to inflation because they tend to invest that money, rather than putting it back into circulation. Maybe it causes stock prices to rise or mega yachts to become more expensive, but it doesn't materially affect the cost of bread or televisions or economy cars because a rich person can only buy so much of these things.
The reason why we had inflation to begin with is because we manufacture NOTHING in America anymore and our supply chains are broken. The idea you think spending money on onshoring our supply chains is bad we are on different plants. Youre a free trade libertarian. We believe in different systems and there's no point in bickering. You're just not very good at proving your points. Also trumps tax scam also had tax credits as well. You're just not very knowledgeable I'm sorry.
Lack of domestic manufacturing doesn't cause inflation in and of itself. If cheaper goods can be produced in other countries, that isn't going to drive up prices. I never said it didn't. Nor did I support Trump. Any response to me that is, "But Trump", is meaningless.
0.1%, dem lockdown lol, that sounds just like what a very partisan politician would said Non-partisan: 24 million people lost their jobs almost overnight at the start of the pandemic. That was not just the result of lockdowns, which were implemented almost universally across all states, but also due to people simply staying home, whether there were lockdowns or not. Very few expected the US economy to rebound this quickly with record job growth. Most people have been expecting a recession at any time over the last 18 months, and still do. Job growth and the economy have been amazingly resilient, even with all the consistent and hard brakes that the Fed has put on the economy since 2022 to fight local and global war and pandemic-induced inflation. While inflation is high, it's not unprecedented. We had higher double-digit inflation in the 80s. Inflation has gone down for 10 consecutive months, from a peak of 9.1% to 5% so far, while maintaining a strong economy and record low unemployment. Zooming out, the pandemic and war-induced global inflation appear to resemble a reverse V-shape. If this trend continues, we could be looking at normal 2% desired inflation in a few years. Opinion: The large influx of monetary funds, done both locally and globally, stabilized what we all feared: deflation. We were able to avoid it. The tradeoff for avoiding deflation, which would have resulted in a depression, versus experiencing high inflation for a few years with fast economic and job recovery, is an easy decision. I prefer what we have today over a local or global depression. If those who advocate for doing nothing had their way, we would be in a terrible situation today.
apparently the president cares about Hunter Biden Biden touts his wisdom, defends son Hunter in MSNBC interview https://www.washingtonpost.com/politics/2023/05/06/president-biden-msnbc-age/ excerpt: Toward the end of the interview, Biden was asked about the ongoing Justice Department investigation into his son, Hunter. The Post reported this week that prosecutors are nearing a decision on whether to charge Hunter Biden with tax- and gun-related violations, according to people familiar with the matter, after a four-year investigation. Shedding any of the reluctance that the White House typically has on commenting on ongoing criminal cases, Biden said, “He has done nothing wrong. And I’m proud of him.” Asked how the possible charges could impact his presidency, Biden said, “My son has done nothing wrong. I trust him. I have faith in him. It impacts my presidency by making me feel proud of him.” more at the link
Alot of right wingers have no idea what unconditional love is...to be honest I don't have kids and I wish biden would throw his kid under the bus but I have no idea what it means to be a dad. As long as he doesn't interfere in Hunter's investigation (which he's not because it's assigned to a Trump us attorney) then good for him. Did he give a hunter a fancy white house job title with perks like Donald?
Monetary policy is not the basis for inflation - it's the basis for controlling inflation and growth - balancing the two. The money supply isn't about the fed printing more dollars - this is a huge error that a lot of people make. Contrary to what is out there, the primary driver of inflation was not monetary policy or fiscal. Instead it was a unique situation. You are ignoring the time component and the impact it has had on inflation. 1. Pandemic and global economy shuts down. People stop spending and start saving money. Prices initially DROP outside of some high need goods (like toilet paper and masks). Recession happens, suppliers and producers cut production and reduce inventory. Global manufacturing is scaled down and shuttered due to lockdowns and reduced demand 2. Pandemic normalizes and economies stabilize - consumers who now have a stockpile of cash begin spending again. However supply is limited as inventories are low and production is lagging - supply chains are also disrupted. Thus you have inflation. You see how all that happened without any monetary or fiscal policy> That's what caused the inflation you are seeing. China was massively disrupted. Inflation will be tamed, in fact now that we are heading towards recessionary territory and with rising interest rates with recovering production and supply chains, we might actually see deflation for a bit depending how deep the recession gets. $1000 stimulus checks don't really impact inflation as they get spent on things people need and really just reduce consumer debt. Tax cuts for the wealthy are extremely complicated and far beyond the simple explanation you are giving. They do not current result in more investment. That is because taxes are so low now on the wealthy that they have less incentive to invest to protect profit margins. The net effect is you are simply transferring savings from the middle class to the wealthy with no net investment, and it can be highly inflationary as the rich in the current environment tend to buy real estate pushing housing prices and rental prices up. Your analysis is just very incomplete and over simplistic. But overall, tax cuts and stimulus checks don't impact inflation much, rather they impact where the wealth in the country is going to be with.
Trump gave his kids fancy job titles inside the white house while they were directly benefiting from their titles. Ivanka as white house foreign affairs advisor to Trump helped craft the trump trade deal to China when she had a 300 million dollar a year gross business in China at the same time. Right after she was granted her trademarks her daddy said he would save ZTE a Chinese company. What irritates me is all the right wing trolls @basso @Astrodome who cling onto foxnews braindead conspiracies when trump did EVERYTHING they accuse hunter of https://www.cbsnews.com/news/ivanka-trump-receives-5-trademarks-from-china-amid-trade-talks The difference is trumps kids were officially employed by the government while you folks spin hunter conspiracies. It's funny how broken yalls brains are
an oldie . . . well, a week-oldie . . . but a goodie Hunter’s collapsing world: Why a criminal plea could now be the best option for the Bidens https://thehill.com/opinion/judicia...-could-now-be-the-best-option-for-the-bidens/ excerpt: There has already been a recent shift to a scorched-earth strategy, including reportedly threatening possible witnesses and calling for the IRS to investigate critics. New leaks from the Justice Department investigation have indicated that prosecutors are considering four charges: two misdemeanor counts for failure to file taxes, a single felony count of tax evasion related to a business expense for one year of taxes and a potential felony count on falsifying a form linked to a gun permit. Those four charges could well result in jail time, but the situation is likely to get worse for Hunter if the House reveals new evidence of foreign dealings and payments. That is why a capstone plea could control the damage for both Hunter and his father. A capstone is designed to protect against erosion and even help to hold together an arch that might otherwise collapse. This capstone plea could avoid a worst scenario (and charge) that would undermine years of denials by both Bidens. However, there was one conspicuous omission from the list of potential charges that may also indicate a reason to push toward a plea. There is no mention of a charge as an unregistered foreign agent under the Foreign Agent Registration Act (FARA). The Justice Department aggressively used this charge against Trump figures like Paul Manafort and, if the same standard is applied, it is hard to see the basis for discarding the charge in the Hunter Biden case. The laptop shows emails from various foreign sources, including some with close connections to foreign governments and intelligence services. There are also records of visits of clients and business associates to the White House as well as pictures with then-Vice President Joe Biden. Finally, there are emails showing Hunter reached out to high-ranking officials like Antony Blinken for “advice.” Now our secretary of state, Blinken was then deputy secretary of state. However, a FARA charge would be embarrassing to both President Biden and Attorney General Merrick Garland. The claim that the president’s son was acting as a foreign agent would put a spotlight on the millions of dollars raised in alleged influence peddling. House Oversight Committee Chairman James Comer (R-Tenn.) has claimed that up to 12 Biden family members may have benefited from these foreign payments. Joe Biden was the object of that influence peddling, and the question would become what these foreign interests were seeking to get from their payments. Moreover, the most obvious reason not to register as a foreign agent was to conceal these dealings and avoid scrutiny over influence peddling. While Democrats are now emphasizing that influence peddling is lawful, it is also clearly a form of corruption worthy of investigation. What’s more, efforts to conceal influence peddling are often criminal acts, including FARA violations. A criminal charge could put such motives before a jury — and the American public. For Garland, a FARA charge would be equally embarrassing. The attorney general has refused to appoint a special counsel despite repeated references to the president as a possible recipient of these funds. There are even instructions to Hunter associates to use code names for Joe Biden like “the Big Guy” and “Celtic.” Some of us have criticized Garland for ignoring the undeniable need for a special counsel. Capping off the scandal with a plea to a couple tax charges and a gun form charge would minimize the damage before the 2024 election. more at the link. They didn't rename this thread after me for nothing
Do you wanna refresh my memory and tell me which us attorney is investigating hunter? You magically forgot how BILL BARR trumps attorney General stated there was ZERO need for a special counsel? Why is your trolling so low effort ?
