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Biden on Track To Do Something No Other President Achieved

Discussion in 'BBS Hangout: Debate & Discussion' started by adoo, Oct 18, 2024.

  1. adoo

    adoo Member

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    If job creation continues on its current trajectory---averaging > 100K job a month for 44 consecutive months---through January 2025,


    Joe Biden will be the first POTUS under whom the economy

    • added jobs every month he was in office and
    • never experienced job losses at any point
    Economists debate whether the recent job-winning streak can continue. A recession is still nowhere in sight, but job creation has slowed in recent months, raising concerns about the health of the labor market.
    The Fed's rate cut last month was meant to prevent job losses.


    Biden's historical achievement would come with an asterisk. Barack Obama's second term in office, from 2013 to 2017, was an unbroken streak of job creation, the first since records began in 1939.


    Biden therefore would be the first president never to have presided over job losses at any point during his tenure, but Obama was the first to have a four-year term of straight employment gains.




    fwiw,

     
  2. adoo

    adoo Member

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    also of note, Biden Has also Been The Most Fiscally Responsible POTUS Since LBJ



    Since 1922, every POTUS has increased the debt level, https://www.self.inc/info/us-debt-by-president/.
    Warren G Harding, 1920 - 1922, was the last POTUS who had lowered the debt level during his tenure.

    the current debt level under President Biden represents an increase of 16.67% since he took office in 2020.

    when Trump was fired as POTUS, the debt level was 40.43% higher than when he was hired.​


    as a matter of fact, Biden has generated the lowest increase in debt since LBJ, some 54 years ago.
    Reagan and W more than doubled the debt level during their presidency https://www.self.inc/info/us-debt-by-president/

    • Barack Obama 2009–2017
      • 69.98%
    • George W. Bush 2001–2009
      • 105.08%
    • William J. Clinton 1993–2001
      • 31.64%
    • George H. W. Bush 1989–1993
      • 54.39%
    • Ronald Reagan 1981–1989
      • 186.36%
    • Jimmy Carter 1977–1981
      • 42.79%
    • Gerald Ford 1974–1977
      • 47.11%
    • Richard Nixon
      • 34.30%
    • Lyndon Johnson 1963–1969
      • 15.65%
     
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  3. adoo

    adoo Member

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    on the other end of the economic spectrum, the Trump presidency has been the only one to have experienced a net loss in job creation, to the tune over over 2 million jobs lost during his 4-years in office, attributable to
    • the Trump tax cut, Tax Cuts and Jobs Act (TCJA), a major overhaul of the tax code, signed into law by POTUS Trump on Jan. 1, 2018.
      • TCJA creates clear incentives for American-based corporations to move operations and jobs abroad, including a zero percent tax rate on many profits generated offshore.




    The pandemic started in 2019, Trump's last year in office, leading to more job losses.​
     
    #3 adoo, Oct 18, 2024
    Last edited: Oct 18, 2024
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  4. deb4rockets

    deb4rockets Member
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    Trump would turn it around the opposite way and probably beat Reagan's increase.
     
  5. Air Langhi

    Air Langhi Contributing Member

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    Biden as a president has done a good job. Got a lot of things passed. Stock market is up. Jobs are doing good. Inflation is a up a bunch, but it is up everywhere around the world. Inflation is not like just an American thing. Didn't do crazy things. Listened to his advisors. Crazy he is painted so terribly. He got balanced billing law passed which helps a lot of people.
     
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  6. Amiga

    Amiga Member

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    He fixed the mess from the previous administration - mismanagement of the pandemic, weakened bonds and alliances with our allies, the horrible agreement with the Taliban, restored the integrity of an independent DOJ, united alliances against an openly aggressive Putin's Russia, ...

    He accomplished several essential things for the long-term: The CHIPS Act, infrastructure bill, and the IRA - including finally enabling the government to negotiate drug prices with pharmaceutical companies, withdrawing from Afghanistan, and managing a great economic recovery from COVID - the best in the world.

    He executed poorly on several fronts - mismanaging the withdrawal from Afghanistan, establishing no real guardrails against Palestinian suffering due to the Israeli-Gaza war, poor communication with the public...

    He failed in some areas - not foreseeing the pent-up demand at the border crossings, pushing too much money into the system (contributing to inflation), and doing nothing about the housing crisis (though this predates him since the housing bust), failing to unite a divided country, ...

    It's been a mixed bag, but his long-term accomplishments and fixing the mess left by the previous administration outweigh his failures. I, again, think the 3 bills he passed with be great for the nation long term. He did his job, and it's time to move on to someone with different ideas for the new challenges - and there are plenty of them, from AI technology to continuing divisiveness and a state that's shown to be very vulnerable to outside influence, big power, and $$ manipulation.
     
    #6 Amiga, Oct 19, 2024
    Last edited: Oct 19, 2024
  7. Rileydog

    Rileydog Member

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    Biden’s biggest failure was his inability to inspire the country, if you even consider that to be part of the job. He was a sub par to middlin orator in 2020, and completely fell apart in 2024.

    For people who pay attention to results, his presidency delivered a ton. Maybe one of the most in my lifetime … in terms of passing bills that will benefit the country for decades. He deserved a second term based on results. But even more so, he deserved to step down based on his decline.

    Sadly, an enormous part of the country is unwilling or unable to focus on results. So here we are.
     
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  8. pgabriel

    pgabriel Educated Negro

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    Imo he is awesome. Whatever happened with inflation, we are back to normal. Withdrawal from Afghanistan in procedure was bad, but we are finally out of there.

    The border is his only shortcoming in a sense of it's a problem left for the next administration but there was a deal.

    Bottom line as you know is the economy is the envy of everyone else
     
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  9. CrixusTheUndefeatedGaul

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    So why did you clowns kick him to the curbs with that coup? LMAO
     
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  10. rocketsjudoka

    rocketsjudoka Member

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    Inflation spiked but has since dropped quite a bit. Prices though haven’t returned to pre pandemic levels in many products though.

    I don’t know if this is true for much of the country but I’ve been paying for gas at levels before the pandemic, under $3 / gallon. Recently.
     
  11. AkeemTheDreem86

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    If the cost of groceries and rent is still way higher in proportion to wages, it still stings the little guy.

    That's why most people don't feel the effects of this "great" economy.
     
  12. LosPollosHermanos

    Supporting Member

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    It’s funny when you’re more invested in a ghoul that can’t string together a sentence and has led to the greatest deficit and defaulting on payments of all time rather than the country itself

    guess you got tired of your burner acct astros123
     
  13. rocketsjudoka

    rocketsjudoka Member

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    Yes costs are higher in certain sectors. That doesn’t mean everything costs more.

    I would never claim this economy is perfect but it’s not nearly as bad as many want to portray it is.
     
  14. AkeemTheDreem86

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    It's bad if you rent and make minimum wage.
     

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