to say that it has been an uphill battle to sell Bidenomics would be understating it. How Dems in swing districts are selling Bidenomics , embrace the agenda---providing lots of examples, no explanation needed--- not the name
The Europeans will turn on us as soon as the war is over. Their already starting their bs propoganda.
examples such as the record numbers of people flooding for passport appointments — meaning they’re traveling — and heading into the Barbie and Oppenheimer movies./ attending Taylor Swift / Beyoncé concerts These are viseral images of people with disposable income, the underpinning of a robust economy.
I can't read the entire article since it is behind a paywall but this seems like an overreaction. The author's handle is @BattleForEurope. Europe became too dependent on cheap, easy Russian energy and commodities which every US administration since Reagan warned them off. I don't think this will be a major concern but I certainly would expect some finger pointing at the US since we are re-industrializing, exporting a ton of energy while the EU is losing industrial base to the US and Asia and importing more expensive energy.
Do you realize what's happening right now to the European green energy base? We're literally destroying it. All their companies are coming to us. I don't know if ppl realize but solar is now 40% cheaper here. EU hasn't passed a real green hydrogen subsidies. Their years behind us and in tech years are worth decades. We're going destroy Europe
I do realize what is going on so I know the EU is responding with their own major subsidies. And to be perfectly honest, until recently the EU was out subsidizing the US in green energy/green energy manufacturing. That's a bit hyperbolic, I think what you mean to say is that many European companies are expanding or adding new US operations. Siemens isn't moving its headquarters to the US. I mean, you seem to being giving off vibes that would support that author's premise. However, I think the Biden Admin is viewing IRA and CHIP as both economic and security related, not meant to directly attack Europe economically.
Seems like everyone's getting a big raise, even interest rates. I'm not sure they have a choice but to stick with us. They can't stand alone but I don't think they will want to spend another trillion on ridiculously expensive LNG imports either, so that war front and the issue of "victory" will get trickier starting...now. Folks wanting or expecting everything aren't seeing the big picture or aren't paying attention to our allies. Fair enough, but don't be too surprised what comes out of hurt feelings or electing an equally ignorant or inept leader to mix things up and squirt out some answers, which always ends well with us being better for it btw...
pilots union just got a 40% raise, UPS drivers making 180k, shipyard workers just got a 40% raise, railroad workers are making 150k now, MLB minor leaguers got a 3x raise, airport employees new union paying them 45 an hour now. Everyone is literally get paid right now. I can go on and on. Unions are paying off $$$ right now which is good. Bidens nlrb is processing more union drives than ever before in decades. The war in UKR hopefully ends so gas prices go down and people an actually notice the economy. Your obsession with the debt is very weird
I wasn't too concerned about debt when it was I don't know...at the 15-20T mark, but "I would simply say that I am very worried about the sustainability of the U.S. debt trajectory, our [then] current debt-to-GDP ratio of about 75 percent is not frightening but it's also not low. It's the type of thing that should keep people awake at night," Whats also "weird" is the silence from that same person who even went to lengths to attack the credit downgrade despite the new debt trajectory. Maybe she's was sleeping then because of being kept awake all night.
If you don't like the debt you should be happy what biden is doing...giving the IRS 80b to go after tax cheats will generate a 8x. The 15% corporate minimum tax closes the loophole for corporations to pay nothing for the first time. It will bring 300b of income per year alone....stock buyback tax is bringing $$ to the government
if, as you claim, the debt-to-GDP ratio is not frightening, why worried? actually, Yellen, along w Buffett, Jamie Dimon, Jeromy Siegel, lawrence Summers (the biggest critic of the Fed and Bidenomics, and other leading economists, have benn dismissive of the downgrade as a nothing burger. Jamie Dimon, CEO of JP Morgan, aka America's banker, calls the Fitch downgrade ridiculous. it is ridiculous that other countries have higher credit ratings than the U.S. when they depend on the stability created by the U.S. and its military, what would you have her do, instead of being dismissive??
I’ve underestimated Bidenomics, by former Labor Secretary Robert Reich It’s turning out to be the most successful set of economic policies the United States has witnessed, post-WW2. New economic data show that inflation cooled to 3% in July, down from over 9% last year, and approaching Fed’s goal of 2%. And as inflation has subsided, real wages – that is, what paychecks will buy – have finally risen. Meanwhile, the economic pie has continued to grow. Consumer spending is solid. Consumers expect the economy to continue to do well.. Inflation is coming down without a crash landing, in large part because the Fed’s rate increases – designed to slow the economy, stop wage growth and cause higher unemployment – are being offset by Bidenomics’ massive public investments in infrastructure, semiconductors, wind and solar energy, and manufacturing. This isn’t all. The Biden administration has added three other critical ingredients: the threat (and, in some cases, reality) of tough antitrust enforcement, a pro-labor National Labor Relations Board, and strict limits on Chinese imports. Taken together, these policies are beginning to alter the structure of the American economy in favor of the bottom 90%.
Robert Reich continues In recent decades, the Fed has been in charge of everything out the business cycle, but no one has taken charge of altering the structure of the economy so that the poor and working middle class get a larger share of the gains. This restructuring has been difficult to achieve for the simple reason that the monied interests don’t want it. In Republican circles, In Democratic circles,
Reich continues, In contrast to both supply-side economics and neoliberalism, the Biden administration is focused on altering the structure of the economy. Over the past year, manufacturing construction in hi-tech electronics, which the administration has subsidized through Chips and the Inflation Reduction Act, has quadrupled. Tens of billions in infrastructure spending has been funneled to the states for road, water system and internet upgrades. Biden understands that these investments must translate into high-paying jobs, which often require unions. The monied interests don’t want unions, of course. The narrow congressional majority that got these bills passed rolled back some of the labor conditions that originally accompanied the tax credits and grants. Moreover, much of the funding is pouring into so-called “right-to-work” states that make it exceedingly difficult to unionize. If Bidenomics continues to alter the structure of the economy in ways that help the vast majority, voters will give Biden another term and reward Democrats with both houses of Congress. Bidenomics will make the American economy both stronger and fairer in years to come. I’m betting on it.
related US Aid to Ukraine Amounts to $900 Per American Household, Economist Says https://www.dailysignal.com/2023/08...to-900-per-american-household-economist-says/
