How much more will they be spending with these tariffs coming up and deporting a bunch of workers? Are the massive tax cuts (which will require eliminating the debt ceiling ) going to make up for the increase in prices?
over the past 4 yrs, > 15 million jobs created, as compared to a net loss of 2 million jobs under Trump 1.0
its going be so funny when in less than a month braindead cultists like yourself are going to be claiming how amazing the Trump economy is.....when its the exact same economy under Biden lol Shameless cultists
One way to destroy the US auto industry is to make sure it can't make vehicles for the rest of the world as it transitions off gasoline by destroying the US EV market. This is the stated goal of Trump - Musk - it is literally what they promised to do! China is going to be the world's automaker going forward. That might have happened anyway, but it's basically assured now.
The democrats have obfuscated the facts relating to this. Jobs were up substantially before Covid. 6.2 million. Covid cost the loss of 8 million jobs. Biden's "job growth" is really about 7 million jobs, other than just adding back the jobs lost by Covid. It is just part of the BIG LIE politcal strategy first utilized in a free society by Adolf Hitler. If you have control of the media you can say things over and over and sooner or later the weak minded will believe it. Blaming Covid on Trump is another part of the Big Lie. Democrats protecting democracry while trying to eliminate the electoral college, load the supreme court, and create a ministry of truth is another. Trying to add non-citizens to the voter roles while ignoring immigration laws leading to the border crisis is even more aggregious. Thankfully, the electorate saw through the lies and voted out the real threat to our democracy, the democratic socialist party.
your parroting GOP baseless lie, conveniently forget that Biden passed these job creating bills Chip acts infrastructure act you are willfully ignorant on the "Great Resignation" in 2021, Biden's first year, which employees voluntarily resigned from their jobs en masse, beginning in early 2021 during the COVID-19 pandemic. Among the most cited reasons for resigning included wage stagnation amid rising cost of living, limited opportunities for career advancement, hostile work environments, lack of benefits, inflexible remote-work policies, and long-lasting job dissatisfaction. Most likely to quit were workers in hospitality, healthcare, and education. In addition, many of the resigning workers were retiring Baby Boomers, who are one of the largest demographic cohorts in the United States
The debt ceiling deal that congress made last year clearly said the government would run out of money the first quarter of this year. why did republicans agree to such a shitty deal? Cuz they thought Harris would win and theyd knee cap her at the beginning. Why are yall so utterly dumb? Like seriously asking are there any "intelligent" right wingers on this website? I will wager you whatever sum of money you want that Trump will add more to the national debt than biden has? Let me know if you want to wager whateer you want?
1 out of 4 small businesses went bankrupt during covid. Its funny how you braindead trolls think that somehow all the jobs that were lost during covid are suddenly going to come back. You right wingers do nothing other than lie all day. Its going be hilarous watching the same braindead MAGA who have been talking trash in this thread to try to take credit for the manufacturing boom were witnessing right now. All they do is lie all day about everything. Nothing matters to them other than lying on behalf of their cult leader
@adoo must be benefitting somehow with his full throated love of Bidenomics! Billionaire wealth surges by $2 trillion in 2024, three times faster than the year before, while the number of people living in poverty has barely changed since 1990 Oxfam predicts there will be at least five trillionaires a decade from now. 204 new billionaires were minted in 2024, nearly four every week. Sixty percent of billionaire wealth is now derived from inheritance, monopoly power or crony connections, as Oxfam argues that “extreme billionaire wealth is largely unmerited.” Richest 1 percent in the Global North extracted $30 million an hour from the Global South through the financial system in 2023. Oxfam urges governments to tax the richest to reduce inequality, end extreme wealth, and dismantle the new aristocracy. Former colonial powers must address past harms with reparations. Billionaire wealth grew by $2 trillion in 2024 alone, equivalent to roughly $5.7 billion a day, at a rate three times faster than the year before. An average of nearly four new billionaires were minted every week. Meanwhile, the number of people living in poverty has barely changed since 1990, according to World Bank data. In 2024, the number of billionaires rose to 2,769, up from 2,565 in 2023. Their combined wealth surged from $13 trillion to $15 trillion in just 12 months. This is the second largest annual increase in billionaire wealth since records began. The wealth of the world’s ten richest men grew on average by almost $100 million a day —even if they lost 99 percent of their wealth overnight, they would remain billionaires. Last year, Oxfam predicted the emergence of the first trillionaire within a decade. However, with billionaire wealth accelerating at a faster pace this projection has expanded dramatically —at current rates the world is now on track to see at least five trillionaires within that timeframe. This ever-growing concentration of wealth is enabled by a monopolistic concentration of power, with billionaires increasingly exerting influence over industries and public opinion. Oxfam publishes “Takers Not Makers” today as business elites gather in the Swiss resort town of Davos and billionaire Donald Trump, backed by the world’s richest man Elon Musk, is inaugurated as President of the United States. “The capture of our global economy by a privileged few has reached heights once considered unimaginable. The failure to stop billionaires is now spawning soon-to-be trillionaires. Not only has the rate of billionaire wealth accumulation accelerated —by three times— but so too has their power,” said Oxfam International Executive Director Amitabh Behar. “The crown jewel of this oligarchy is a billionaire president, backed and bought by the world’s richest man Elon Musk, running the world’s largest economy. We present this report as a stark wake up-call that ordinary people the world over are being crushed by the enormous wealth of a tiny few,” said Behar. The report also shines a light on how, contrary to popular perception, billionaire wealth is largely unearned —60 percent of billionaire wealth now comes from inheritance, monopoly power or crony connections. Unmerited wealth and colonialism —understood as not only a history of brutal wealth extraction but also a powerful force behind today’s extreme levels of inequality— stand as two major drivers of billionaire wealth accumulation. Oxfam’s calculates that 36 percent of billionaire wealth is now inherited. Research by Forbes found that every billionaire under 30 has inherited their wealth, while UBS estimates that over 1,000 of today’s billionaires will pass on more than $5.2 trillion to their heirs over the next two to three decades. Many of the super-rich, particularly in Europe, owe part of their wealth to historical colonialism and the exploitation of poorer countries. For example, the fortune of billionaire Vincent Bolloré, who has put his sprawling media ‘empire’ at the service of France's nationalist right, was built partly from colonial activities in Africa. This dynamic of wealth extraction persists today: vast sums of money still flow from the Global South to countries in the Global North and their richest citizens, in what Oxfam’s report describes as modern-day colonialism. The richest 1 percent in Global North countries like the US, UK and France extracted $30 million an hour from the Global South through the financial system in 2023. Global North countries control 69 percent of global wealth, 77 percent of billionaire wealth and are home to 68 percent of billionaires, despite making up just 21 percent of the global population. The average Belgian has about 180 times more voting power in the largest arm of the World Bank than the average Ethiopian. Low- and middle-income countries spend on average nearly half of their national budgets on debt repayments, often to rich creditors in New York and London. This far outstrips their combined investment in education and healthcare. Between 1970 and 2023, Global South governments paid $3.3 trillion in interest to Northern creditors. The history of empire, racism and exploitation has left a lasting legacy of inequality. Today, the average life expectancy of Africans is still more than 15 years shorter than that of Europeans. Research shows that wages in the Global South are 87 to 95 percent lower than wages in the Global North for work of equal skill. Despite contributing 90 percent of the labor that drives the global economy, workers in low- and middle-income countries receive only 21 percent of global income. Globally, women are more often found in the most vulnerable forms of informal employment, including domestic work, than their male counterparts. Migrant workers in rich countries earn, on average, about 13 percent less than nationals, with the wage gap rising to 21 percent for women migrants. “The ultra-rich like to tell us that getting rich takes skill, grit and hard work. But the truth is most wealth is taken, not made. So many of the so-called ‘self-made’ are actually heirs to vast fortunes, handed down through generations of unearned privilege. Untaxed billions of dollars in inheritance is an affront to fairness, perpetuating a new aristocracy where wealth and power stays locked in the hands of a few,” said Behar. “Meanwhile, the money desperately needed in every country to invest in teachers, buy medicines and create good jobs is being siphoned off to the bank accounts of the super-rich. This is not just bad for the economy —it’s bad for humanity." Oxfam is calling on governments to act rapidly to reduce inequality and end extreme wealth: Radically reduce inequality. Governments need to commit to ensuring that, both globally and at a national level, the incomes of the top 10 percent are no higher than the bottom 40 percent. According to World Bank data, reducing inequality could end poverty three times faster. Governments must also tackle and end the racism, sexism and division that underpin ongoing economic exploitation. Tax the richest to end extreme wealth. Global tax policy should fall under a new UN tax convention, ensuring the richest people and corporations pay their fair share. Tax havens must be abolished. Oxfam’s analysis shows that half of the world’s billionaires live in countries with no inheritance tax for direct descendants. Inheritance needs to be taxed to dismantle the new aristocracy. End the flow of wealth from South to North. Cancel debts and end the dominance of rich countries and corporations over financial markets and trade rules. This means breaking up monopolies, democratizing patent rules, and regulating corporations to ensure they pay living wages and cap CEO pay. Restructure voting powers in the World Bank, IMF and UN Security Council to guarantee fair representation of Global South countries. Former colonial powers must also confront the lasting harm caused by their colonial rule, offer formal apologies, and provide reparations to affected communities. Download Oxfam’s report “Takers not Makers” and the methodology note.
Biden Administration Handed Over a Strong Economy Economic growth surpassed expectations, Stronger productivity growth returned despite a global slowdown Inflation was tamed without a recession Workers benefited from the strongest labor market in generations Households, especially those limited by prior barriers, saw substantial wealth gains
Fed's preferred inflation gauge meets expectations in December The latest reading of the Federal Reserve's preferred inflation gauge showed prices increased in line with expectations in December as inflation remained above the Fed's 2% target. The "core" Personal Consumption Expenditures (PCE) index, which strips out food and energy costs and is closely watched by the central bank, rose 0.2% from the prior month during December, meeting Wall Street's expectations.
