Repairing roads is one of the main reasons for a gas tax. I guess we plug his BBB infra bill to make up for lost funds? MMT is so magical. BTW, gas tax holiday plus his hamfisted messaging about electric vehicles is a mixed message that doesn't strike any confidence. WTF is Yellen and Powell doing? Beats me, but let's reappoint them anyways. Modern day quacks and mystical shamans...
According to Joe you should go out and buy an electric car then. That's what politicians don't get - not everyone can afford to go out and just buy new things. They (both sides) don't understand how real people live. They think that if I give a 7k voucher or tax break that allows the average American to buy one. Well it helps but with cars @50k now and interest rates over 7% for cars, it really doesn't matter. Plus I think the tax breaks are gone now. Most have never lived like you and I - despite the pool pics, I lived many years paycheck to paycheck. It's especially stressful during the inflationary times because you have to make decisions on what to give up today just to live like you did yesterday.
Hard not to be a doomer. I'm not an economist but it seems really implausible that the economy is just going to gradually smooth out here or we are going to get some sort of "soft landing" - seems like a deep and long recession is inevitable at this point.
Basically this. No one knows what to do. The Trumpers don't know but will claim they do. The Biden administration doesn't know either but they don't even pretend to know. No one needs or wants to hear that this will give us positive results on energy reliance down the road, makes Biden appear out of touch. Yellen is a more concerned with unemployment than she is with inflation.... well I guess she got what she wanted. Powell had no problem spending during COVID and Trump even was very positive in discussing Powell's performance earlier this year. Powell now says that his spending has resulted in inflation ? NO... you don't say?
Did Biden actually say that? Do you have a quote of that? If he did then he doesn't need to be in office. I agree with you that the VAST majority of these people are completely out of touch but that is nothing new. I still remember when Bush Sr. didn't know that grocery scanners existed.... or reading about Carter and his malaise speech.
Restarting student loan payments will take some money out of the economy... it's only been going on 2.5 years..
Not a quote but it's been his direction from before he was elected. He went all Chuck Norris talk against big oil to show how green and tough he'll be if elected. Well it was a double edge sword. Now he definitely didn't see Russia/Ukraine coming (most didn't) but why would big oil and gas want to invest billions in more in new infrastructure when their payday may not be until a few years before the 2030 pledge that 1/2 of the new cars sold will be electric and they won't need as much. A questionable ROI at best. He's made a few double down comments sense then. Such as: https://www1.cbn.com/cbnnews/2022/m...edible-transition-to-green-energy-god-willing Or more recently: "“I’m using every lever available to me to bring down prices for the American people,” Biden said. “But the critical point is that these actions are part of our transition to a clean and secure and long-term energy future.” What is "these actions"? Raising gas prices? I mean it sounds like double talk but that's normal for a politician. So again not a quote but his way of looking at the bright side of all this is people will transition to electric cars faster. What he doesn't get is rich people will drive whatever they want to drive. Middle class will try and hang on during these times. The rest will fight to hang on. Electric cars may sell but only to those that can afford to buy a new car or near new car. With inflation and fast rising interest rates, they are starting to get out of reach for all but the upper middle class and above. I believe that politicians should serve a single 6 year term. You won't focus on re-election and we might get more real people in office. But if it takes money to get elected in the 1st place, then only the rich will apply so that might not be much different than today. They at least need an age limit. 35 is the min. How about 70 for a max?
It will whenever it’s restarted. There will never be a good time. How long will this deferment go on?
He went hard to the left on some issues to get support from more liberal voters. How sincere he was on that is a matter of debate. Either way, he made that strategic decision to get elected and he has to live with that. I would point out that the investment had already been down long before Biden was even running for the 2020 Presidential election. Either way, there is no doubt that that optics are bad - and it was a calculated decision he made. He could have said nothing about O&G and would be taking less heat. When a politician takes a position he/she should have to deal with the consequences regardless of party. Those are stupid comments and he should know that isn't what people want to hear. He is right, we are progressing towards less reliance on O&G but trying to claim that is the bright side of the current oil prices and associated inflation shows that he is tone deaf or whomever is advising him is out of touch. I don't doubt for a minute that he would make gas prices be $2 a gallon if he could, and that is why I wanted to know if he actually directly said it. No, he knows that the majority of Americans cannot just magically afford $50,000 electric vehicles. I don't believe that either side is that out of touch, unless they just don't care (which is possible). The move to electric vehicles is going to take time, and in the short term high energy costs and inflation only slow the transition time down. One thing I will say about Biden, is that he actually seems less concerned about getting re-elected than most candidates. The last candidate that I can remember that cared about re-election this little was Bush Sr. The withdraw from Afghanistan wouldn't have happened the way it did if Biden was as concerned about re-election as most are. Don't get me wrong, he deserves to be criticized for some of his decisions. He is far from perfect. I think that we are stuck in a tunnel right now.... we have too many older people in the top positions of government, many of them that do not understand basic things like how social media or current healthcare operate. At some point younger bright people that are a biproduct of the world we live in need to be given a chance. There is something to being lean, mean and hungry.
Modern Politicians are Marie Antoinette Let them eat Cake I can watch a Bill Maher and think .. . .that man doesn't know the price of a loaf of bread or gallon of milk Him nor most of his guest. The know in a theoretical sense that 5$ a gallon for gas is high but it is nothing they every worry about or feel in a real sense. Rocket River
That is a really good question and the truth is that not many people on any political side want them to start up again. If they start up again at the direction of Republicans, then they risk alienating some Republicans that pay student loans and are resentful. This is the type of topic that could cause people to switch party affiliation. Some people are paying 500-1200 a month and that is enough for people to compromise political beliefs. The Democrats in office know that a sizable portion of their voters are paying student loans or have kids that are and that the Democrats have discussed forgiving student loans. If the call to pay them happens, it will alienate or anger some of their voters or they will be viewed as a failure for not permanently ending them. The voters that are angry that they may be forgiven are already mad and don't blame the Republicans but blame the Democrats so there is some political reasons for some Republicans to let the status quo reign and fire up their voters. Then there is the economic consequences as well. I suspect that we are going to see either VERY lenient rules on repayment, some degree of forgiveness or cancelation.... which will open a whole other can of political worms.
You are optimistic I think the children who benefit from the way the world is now . . .will become their parents and want it to continue status quo That said .. . I suspect Gas will be around 3.50 by election time Americans vote their gas prices.. . .if the Dems have any chance at all .. .they need to make that happen Rocket River
I'm pretty sure it's a lot more complex than the ignorant talking point of "buy electric cars", much like "learn to code". Americans love their pick up trucks and SUVs, how about some accountability? Gas prices are cyclical.
O&G will likely be here to stay …airplanes, mowing equipment, delivery trucks But yes I want to see alternatives that are priced right and work and component available: Key things for my lawn business, there is only one thing that works well for batteries.: Blowers. .I actually use battery operated blowers - Battery powered blowers are cost effective. And similar power to gas. However There is NO viable alternative to my riding mowers or trimmers. Especially trimmers. Handheld Mowers can come a little close but does not have the torque for commercial use. The lone exception for a handheld mower is the Milwaukee M18 at $1200, it’s a beast and it’s actually intended at the pro customer , top grade quality but there is no ride mowers unless they make tons of batteries more readily available and increase the torque and parts we need to welcome O&G but drive innovation for other areas. The problem I see is those that want innovation want to completely end O&G, some on the other side may want to stifle innovation but i feel it’s practical to meet in the middle. Being ok with higher gas prices is not effective. Having incentives yes
