so typical of invisible, cutting n pasting shiny objects from intellectual dishonest / biased sources. Invisible, you do understand that you had posted the opinion of, OxFam, a UK-based NGO who has an oxe to grind; it is purely an opinion piece, generalization upon generalization w no specific data sets / references, no? i'd much prefer the considered opinion of Center For American Progress, a US-based policy policy institute; its opinions are backed up by economic data (from the Gov and Wall Street firms) and charts 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
pretty easy to download the report, look at the data and the methods: https://www.oxfam.org/en/research/takers-not-makers-unjust-poverty-and-unearned-wealth-colonialism
Not picking on you.... but I don't see how this how to do with "Bidenomics"? Pretty much anyone with crypto, 401K, or other asset class saw their wealth increase greatly in 2024. Boomers/retirees' investments and wealth also benefitted during this.
I glossed over black on black text but I'm guessing it involved some low effort trolling of the sources. It also whined about a 2021 Fed paper being outdated and didn't bother confirm if there was a 2024 paper reiterating the results. I can only show you the way, but you gotta walk and decide whether you want to seriously see it for yourself.
so says the parrot who cut n pasted "the Fed is wrecking its balance sheet", unwilling / unable to elaborate, even tho there are data available, such as these charts depicting Fed's assets / balance sheet over time
https://www.wsj.com/opinion/gdp-rep...ald-trump-da1e5ef6?mod=hp_opin_pos_3#cxrecs_s Trump Inherits a So-So Economy Fourth quarter GDP shows he needs to spur business investment. By The Editorial Board Jan. 30, 2025 at 6:12 pm ET President Trump was elected with a mandate to restore broad economic prosperity, but Thursday’s fourth-quarter GDP report shows that won’t be easy. While consumers remain buoyant, a slowdown in business investment and persistent inflation could make it harder to lift real wages. GDP grew a respectable 2.3% in the fourth quarter and 2.8% over 2024. Despite higher interest rates, consumer spending climbed 4.2% in the quarter with big increases for healthcare and motor vehicles. This was notably more than the 2.8% increase in disposable personal income. Consumer spending contributed 2.82 percentage points to GDP growth while government chipped in 0.42. This was offset partly by a decline in fixed business investment, which subtracted 0.31 percentage points. Reduced investment in equipment (-1.1%) and structures (-7.8%) may owe partly to uncertainty last year about the election. Inventories also fell. But business investment was sluggish throughout the Biden Presidency, especially the last two years. Despite Joe Biden’s boasts about a factory boom, investment in new structures last quarter was a mere 0.8% higher than its pre-pandemic peak. Research and development spending has been nearly flat for two years. Driving the Biden economy was a boom in consumer and government spending, which were 15.2% and 9.2% higher in real dollars at the end of last year than before the pandemic. This has contributed to elevated inflation, which has eased over the last two years as the Federal Reserve increased interest rates but is far from vanquished. The personal consumption expenditure (PCE) price index, the Fed’s preferred inflation measure, rose 2.3% in the fourth quarter, up from 1.5% in the third. The core PCE excluding food and energy ticked up to 2.5% from 2.2%. That’s the wrong direction. Thursday’s GDP report suggests that interest rates aren’t all that restrictive. The wealth effect from buoyant asset values is also a lift for consumer spending. The S&P 500 is up 23.2% over the last year. Americans who own assets are doing fine, but Mr. Trump won because inflation punished the middle class. A strong labor market will help keep consumers in the game, but Mr. Trump can’t count on consumers or government for another four years. He is impatient that the Fed isn’t cutting rates fast enough, but Mr. Trump should be happy if the Fed focuses on inflation. That will keep consumer prices down and make it easier to lift real incomes. All of which is to say that Mr. Trump needs to spur a new investment boom. His election released pent-up animal spirits, and small and big business are full of optimism. But the post-election boost is over, and now Mr. Trump’s policies will have to deliver on growth. His deregulation holds great promise, though lawsuits may slow its impact in several areas. Unleashing U.S. energy will help. But the shape of a tax bill this year is far from certain, as many Republicans have lost sight of the growth imperative. Instead they want to redistribute income through the tax code with child tax credits and a larger state-and-local tax deduction. Above all is the uncertainty of Mr. Trump’s tariffs, which everyone knows are coming but no one is sure who will be hit, or how hard, or for how long. Mr. Trump is inheriting a so-so economy that can’t afford anti-growth policy mistakes. Appeared in the January 31, 2025, print edition as 'Trump Inherits a So-So Economy'.
Hey boomer no OPeds about Trump firing thousands of fbi agents ? No OpEds about trump firing all the Inspector Generals No Opeds about Trump destroying the economy with tariffs? Still too busy talking about biden huh
related https://reason.com/2025/01/31/bidens-record-breaking-regulatory-run/ Biden's Record-Breaking Regulatory Run In four years, Biden issued regulations costing an estimated $1.8 trillion, by far the highest total in American history. by Eric Boehm 1.31.2025 11:30 AM The fourth and final year of the Biden administration included record levels of federal regulations—including more than a dozen new rules finalized in the last hours before Inauguration Day. Former President Joe Biden's final year in office "set a blistering pace," writes Clyde Wayne Crews, a fellow at the Competitive Enterprise Institute (CEI), in a piece for Forbes. During 2024, the Biden administration created 3,248 new rules, by Crews' count, and finished out the year by publishing 107,262 pages in the Federal Register, the weekly publication that lists all new rules, proposed rules, and other public notices. The number of pages in the Federal Register is a blunt, imperfect way to track the activities of the administrative state. Still, it offers a useful view of historical regulatory trends, and Biden's output in 2024 is the highest total ever recorded. But the Biden administration didn't stop when the new year hit. In the first three weeks of 2025, Crews notes in a blog post for CEI, the outgoing administration issued 243 new rules across 7,641 pages of the Federal Register. That includes 15 final rules and 23 proposed rules that weren't published until Tuesday, January 21—the day after Trump was sworn into office—because they'd been wrapped up over the previous weekend. That final flurry of regulatory activity cemented "Biden's legacy as a prolific regulator," writes Crews. Not only did the number of regulations approved by Biden set new records, but the costs associated with those rules soared to new heights too. His administration issued $1.8 trillion in cumulative regulatory costs over four years, according to an analysis by the American Action Forum (AAF), which tracks the estimated regulatory costs published in the Federal Register. That shatters the previous record, set by the Obama administration, which over eight years pushed through regulations costing $493.6 billion. The biggest single regulation issued by the Biden administration was the new tailpipe emissions for automobiles that are scheduled to take effect in 2027. That alone will cost more than $870 billion. Even without that big hit, however, the Biden administration would have easily landed in first place. The Trump administration has already rolled back some Biden-era rules and has signaled its intent to do more. In an executive order signed on Inauguration Day, for example, President Donald Trump ordered executive branch agencies to identify regulations that "impose an undue burden" on "consumer choice of vehicles." That doesn't undo Biden's costly tailpipe emissions rule, but it suggests an effort to loosen or remove them could be coming down the, well, pipeline. Congress also has an opportunity to push back. As Crews notes, the Congressional Review Act allows lawmakers to rescind rules finalized within the past 60 legislative days—that is, days when Congress is in session. That could put many of Biden's last-minute regulations on the chopping block. The Biden administration may be remembered first and foremost for its mishandling of inflation and the scandalous attempt at hiding the president's fading mental and physical abilities. Its aggressive expansion of the federal regulatory state—a record that will hopefully not be surpassed for a long time—deserves recognition too, and not in a good way.
Yess we should totally deregulate more industries. Having airplanes crash in the sky isn't bad enough ! Let's push for more deregulation so corporations can make more money at the cost of customers. Boomers finna be boomers. Illiterate
Yeesh 2.8% yearly GDP growth and 2.3% in the 4th quarter is so so? Talk about lowering the bar of growth just to make Trump look better.
you must be thinking so-so ¿? It must have been love But it's over now It's where the water flows It's where the wind blows Oh-oh (must have been love) But it's over now (but it's over now), now It must have been love (it must have been love) But it's over now (but it's over now), now plan B Wise man once said [Elvis Voice] get the Global express entry and find a stable affordable destination that welcome extended stays , wait on a sideline for foreclosures festival ..don't rush though
on the other hand, the one that your source doesn't want people to know, in 4 year, Biden admin generated positive job growth every month, w a monthly avg of over 100K, for 48 consecutive months. as compared to Trump 1.0, who generated a net loss of 2 millions jobs
May be a so-so economy but we can all agree he got handed a better economy than what he handed to biden. So that could be a factor in comparison of his performance this time around
OT, if only you'd bother to check / compare the data / #s a tale of 2 administratons; the erratic / incompete Trump and the steady / competent Biden From Trump 1.0, Biden inherited a ill-conceived trade war, a pandemic that was not contained a net loss, 2 millions jobs, in job creation in the last 4 years unemployment rate 6.3% in 2020, under Trump, GDP decreased 5% in Q1 decreased 33% in Q2 increased 10+% in Q4 increased 4% in Q4 Frome Biden, Trump 2.0 has inherited 48 consecutive months of positive job creation 16 millions jobs creation in the last 4 years unemployment rate in the low 4% in 2024, under Biden, GDP grew above 2.2% every quarter
what a difference a competent POTUS makes Trump 2.0's first job report was below expection; the CP1 data was rising true to form, Trump dismisses Jan 2025's hot inflation report as ‘Biden inflation’
https://jonathanturley.org/2025/02/...o-now-bankrupt-canadian-electric-bus-company/ Full Charge: EPA Sent $160 Million to now Bankrupt Canadian Electric Bus Company by jonathanturley February 14, 2025 There is considerable buzz in Washington about the disclosures of Administrator for the Environmental Protection Agency (EPA), Lee Zeldin on controversial grants by the Biden Administration, including the $50 million environmental justice grant to an organization that believes “climate justice travels through a Free Palestine.” However, one item was particularly notable: $160 million to a Canadian electric bus manufacturer which later announced bankruptcy without fulfilling the contract. Both the Obama and Biden Administration wasted billions in loans and grants on green initiatives including the failed solar-panel company Solyndra and most recently the termination of the Ivanpah Solar Power Plant. These projects often start with photo ops and virtue signaling that costs taxpayers billions in losses. What is missing is a modicum of economic and administrative judgment. The Canadian electric bus company Lion Electric is such an example. Figures like Vice President Kamala Harris did repeated photo ops with electric buses as a defining issue. However, the company struggled from the start and the Biden Administration failed to take the most basic steps to protect taxpayer money. Rather than break up payments in segments based on actual production, Biden officials just sent the $160 million to the company. The company is now shutting down without supplying $95 million in bus orders. The money is gone. Poof! and the company could vanish with the “Lion’s share” of U.S. public funds. At the same time, the Administration pushed local and state governments to buy electric vehicles. Many blue cities went all-in but then had to spend more money to deal with the failures. Cities like Asheville, North Carolina, spent millions to buy more expensive electric buses only to find that they had to be recharged every 70 miles. Three out of five buses quickly broke down and could not be repaired because the company, Proterra, also filed for bankruptcy. The concerning aspect of the Lion Corp payments is the apparent negligence of government officials in the handling of U.S. funds. Average Americans in contracting for their homes would require more assurances than what was allegedly demanded by the EPA. Such accounts are likely to be cited in cases where Democratic groups are fighting to force agencies to continue to pay out money after court injunctions. The argument of the Trump Administration is that it wants to freeze expenditures as it reviews these contracts. In all likelihood, it will be able to accomplish such inspections and reviews as this litigation shakes out in the courts. It may result in some resumption of funding in the interim either by court order or waivers from the Administration, as done for health programs under the US AID.
