It's speculative to assume and president will enact their campaign promises, both because laws must be passed by Congress, and because there is a long history of presidents breaking campaign promises. Examples are multitude, but how about from George H.W. Bush, "Read my lips, no new taxes!" As an example of Congress not cooperating, how about Trump's promise to build the wall, or Biden's to forgive all student debt. You can call it pathetic if you want, I call it living in reality. Do you think a Democrat majority Senate is going to send massive tax cuts in a bill to the White House if Trump is President?
George HW bush was the last honest good republican. I would've voted for him today. The man was kind and honest. Today's Republicans are nothing alike. Its not "speculation" to assume trump will extend the tax cuts that he helped pass. You're just losing all credibility here by white washing trump and it's honestly pathetic. Biden did not attempt to forgive all student debt nor did he promise that. You're just spewing braindead lies
All of these analysis on using the change in debt suffer from the limited view of their terms. The policies/elective wars/investments/tax cuts/tax raises they enact have such a long impact that looking at what the debt changed in 4 years is really limiting. I'm not saying that the "ideal" way is easily calculated - so I guess that is why it is easier to stick to change in debt over a term...
I liked HW, too. Unfortunately, he has been cancelled because he made some sort of inappropriate comment to a woman. I was too young to vote in 1988 or 1992. It is speculation, because you have no idea if he will be able to extend the prior tax cuts, pass new tax cuts, or anything else related to the tax code. If elected, he doesn't have absolute power. Congress has to pass bills that are then sent to the President. He doesn't just get to arbitrarily set tax rates. If he has a large Republican majority in both houses, I would expect him to pass tax cuts. If he were elected with a Democrat majority in both houses, I would not expect a tax cutting bill to be sent his way. Biden repeatedly promised to forgive "at least $10,000" of every student loan. He has not done so. This is because Congress has not passed a bill that forgives $10,000 of every student loan. (Nor should they, people should repay their obligations).
Your original post said, "Biden's to forgive all student debt" which is not what the above referenced post said. Again what do you get out of lying so much? Do you have a hard on for lying? And the forgiveness wasn't for "everyone" but rather only to folks making under a certain income threshold
I was mistaken, it was a promise to forgive at least $10,000 in student loan debt for everyone, $20,000 for those who received Pell grants. What to know about Biden's student loan forgiveness application : NPR FACT SHEET: President Biden Announces Student Loan Relief for Borrowers Who Need It Most | The White House Biden’s reckless, broken promise on college debt (thehill.com) No, Biden Didn’t Promise To Cancel Your Student Loans (forbes.com) Joe Biden Reaffirms Student Loan Forgiveness Campaign Promise (forbes.com) Well, sometime he specified an earnings limit, sometimes not so much.
It’s good to see that it is acknowledged that Biden isn’t the authoritarian dictator that some are claiming he is (or is he the weak senile puppet? ) Yes Trump should have to get things passed by Congress to enact his policies but we’ve seen the Republican Congress very compliant to Trump even when he’s not in office. We also saw Trump ignore Congress and or be willing to go behind Congress in dubious ways while he was president. For example moving funding for military families to pay for the Wall. The danger of Trump isn’t so much his legislative agenda but that he’s both said and as president tried to get it implemented in ways that didn’t respect or follow the Constitution. Again this is not just from MSNBC talking heads but members of his own administration.
https://www.nytimes.com/2024/06/07/opinion/ezra-klein-podcast-annie-lowrey.html Opinion | The Economic Theory That Explains Why Americans Are So Mad There’s something weird happening with the economy. On a personal level, most Americans say they’re doing pretty well right now. And according to the data, that’s true. Wages have gone up faster than inflation. Unemployment is low, the stock market is generally up so far this year, and people are buying more stuff. And yet in surveys, people keep saying the economy is bad. A recent Harris poll for The Guardian found that around half of Americans think the S. & P. 500 is down this year, and that unemployment is at a 50-year high. Fifty-six percent think we’re in a recession. There are many theories about why this gap exists. Maybe political polarization is warping how people see the economy or it’s a failure of President Biden’s messaging, or there’s just something uniquely painful about inflation. And while there’s truth in all of these, it felt like a piece of the story was missing. And for me, that missing piece was an article I read right before the pandemic. An Atlantic story from February 2020 called “The Great Affordability Crisis Breaking America.” It described how some of Americans’ biggest-ticket expenses — housing, health care, higher education and child care — which were already pricey, had been getting steadily pricier for decades. At the time, prices weren’t the big topic in the economy; the focus was more on jobs and wages. So it was easier for this trend to slip notice, like a frog boiling in water, quietly, putting more and more strain on American budgets. But today, after years of high inflation, prices are the biggest topic in the economy. And I think that explains the anger people feel: They’re noticing the price of things all the time, and getting hammered with the reality of how expensive these things have become. Interview/transcript in link The Atlantic article was posted on the heels of the lockdown. Describes our K-shaped economy before Bidenomics yet also gives clues to why the Have-Nots or Buy Now Pay Later Americans aren't buying the President's policies. I'm sure some people are sick of me repeating this, but prices in high asset items such as housing or stocks wouldn't have exploded in the past 4 years if the Fed didn't swallow up an additional ~5 Trillion dollars in treasuries, mortgage backed securities, and even corporate debt. It wasn't the only reason for the price to "explode" but it definitely compounded demand limitations and favored investors with high leverage. Reducing that balance sheet without popping the markets has been the Feds challenge that no one besides the filthy rich and their sockpuppets care about...minus the occasional ****ups in the banking system that resumed more asset purchases during said tightening.
HW was canceled by his own party. Republicans read his lips, and they said "No New Taxes, nevermore!"
once again, you're confused, all mixed up. if you had been more informed, you'd would have parroted such an ill-informed claim The Fed's job to to monitor the money supply in circulation to promote full employment and prize stability. Post the pandemic / ill-conceived trade war started by orange hair/Russia invasion of Ukarine, the Fed has been effective in that regard, as evidenced by unemployment near historic low inflation has fallen from 9% to the 3% level the Fed has been so effective that even Biden harshest critic and former Trump economic advisor, Larry Kudlow, has acknowledged that a soft landing is imminent. an economic illiterate projecting his idiocy
Exactly. He was viewed in a more negative light by the time he died though, but not simply for inappropriate comments, rather inappropriate touching.
The Federal Reserve Bank has not been perfect. there are lots of valid criticisms against the US central bank, such as that it was late to starting raising rate in 2022, or that it should have started to cut rate now. the Fed's dual mandate is to promote full employment and stable prices. but there are intellectually dishonest people who would have others to believe that the Fed is responsible for a pristine balance sheet, the stock market, the housing industry, etc. the less-than-informed Invisible Fan has been---in parroting their convenient false claims---has been an easy prey for these mis-information spreaders
