10mo ago

Democratic President rebuilds economy, just in time to hand it off to Trump — again

www.huffpost.com

Democratic President Rebuilds Economy, Just In Time To Hand It Off To Trump — Again

Summary

President Joe Biden touted his administration’s economic recovery efforts, citing job growth, reduced inflation, and infrastructure investments, as he prepares to hand off a strong economy to Donald Trump.

Biden criticized Trump’s proposed steep tariffs on imports, warning they could harm the economy and reintroduce inflation.

Trump plans tariffs against China, Mexico, and Canada, raising concerns about trade disruptions similar to those seen during his first term.

Economists caution that such policies could quickly reverse recent economic gains and weaken the U.S. economy.

87 comments

Just do another round of stimulus check and let Donny deal with the bill. 😏
- Ooh. Yeah!
  
  And this time put Joe Biden's name on the checks.
- This would be the best way to end the last 20 days, and mass parsons because fuck it whynot
  
  The best way to end it is for Biden to have Trump and friends disappeared to a CIA black site.
- Can't do that without also controlling congress which he doesn't.
  
  What are they going to do, claw it back after the checks go out?
- People really can’t understand the economy turns like the Titanic. Trump fucked it, but we didn’t see the real effects until Biden’s term. We were heading into another Great Depression, and coupled with the effects of Covid, people massively underestimate how well the economy actually did under Biden.
  Trump will coast on the Biden administration’s success for a while, and will take the credit. Once he fully fucks everything (and IF there are fair elections in 2028, which doesn’t seem likely), a future democratic administration will be blamed for the effects of trump’s fuckery. Repeat ad infinitum.
  That’s how it’s worked for a century, and uninformed voters will always fall for it.
If the democrats are so sick of getting swapped out maybe they should field some decent candidates.
- Unless your idea of a good candidate is George Clooney or Oprah than this isn't a problem that can be fixed with 'better candidates'.
  
  Those answers make me unreasonably angry. The absolute stupidity is astounding.
  
  Those aren't my idea of good candidates either. My idea of a good candidate would be someone ethical, that wants to improve life for our citizens, that values constitutional values and the rule of law. I am not sure such a person exists in the US that is capable of winning the presidency.
  In your picture above, just because a few morons vote for silly reasons doesn't invalidate the value of having actual good representation.
  
  'Believe in Christ'? How the fuck do people see that?
- If voters demonstrated one thing this year, it's that the decency of the candidate is utterly irrelevant.
  
  It's not relevant to Republicans, but it got Democrats to stay home.
- Nah. Their masters wouldn't like that.
- This is a false equivalency. Harris wouldn't send migrants to concentration camps. She wouldn't attack our allies. She wouldn't cut social security and VA benefits. Instead she wanted to help normal people like you and me.
  Trump constantly praises dictators such as Putin, Xi Jinping, Kim Jong-Un and has a history of sexually assaulting people.
  
  Honestly I liked her. I thought she'd make good decisions on the hot seat. But I think she let her advisors push her to the right, into a milquetoast corporate campaign. And that's what killed it.
- Or what? What are we going to do about it if they field another pro-corporate candidate?
  
  The same thing people did this time -- vote Republican or stay home. I think the outcome of the latest election makes it clear how ineffective the democrats are. By a lot of metrics, Donald Trump was not that successful of a presidency, and despite that, the democrats were not able to field anyone that could defeat him.
You thought inflation was bad. Get ready for Trumpflation.
I guess that's better then renaming the war economy "Bidenomics"
Grow food if you can now folks shit is about to get bad. Buy flour in mass if you can.
- Not flour, unground wheat berries. Cheaper to buy in bulk with a much longer shelf life.
  
  But your hand grain mill will cost 3x as much.
- Flour doesnt last forever and its a fire hazard, so no.
It basically happens every cycle, easy to go back all the way to George Bush Sr -> Clinton ( if not earlier).
But the problem is, the current economic boom is even more K-shaped than any other in recent history; half of the population are struggling worse than before, but their plight is masked by an incredible boom for the other half.
I can’t blame the working class for thinking back to ~2016, and remembering things fondly.
Trump will only make the current situation worse, but I can at least understand how the US ended up in its current predicament.
- What is K shape? Like V but added flat? Or just direction where right side of K goes both up and down?
  
  Chart taken from Investopedia’s article on K-shaped Recovery; but the underlying principle is the same: Some parts of the economy are performing so well that it masks the other sectors which are struggling.
  i.e. the rich are getting so much wealthier, that when looking at the overall average the number is trending positively and not showing that the rest of society is getting poorer. This is one of the reasons when using aggregate measures, the median value is significantly more valuable than the average.
  
  The rich got richer (top of K) the poor got poorer (bottom of K).
And we have several pandemic vectors on the rise - again. Well, with one major change, we now have a vaccine denialist in charge of core agencies. Prospects look good for the vulture industries.
- And one of the new viruses has a fatality rate above 50% in livestock, probably doesn't bode well for humans.
  If there is a god maybe the covid was just a booster virus to get the smart portion of humanity prepped for the real plague, lol.
I see it more as speed of descent.
I'm of the opinion this country is sold, and died about half a century ago as a democracy, and this is just leftover momentum. All but waned momemtum.
Our vote isn't on whether to reorient the economy to reflect the priorities of its citizens, merely how, and if at all, to manage some of the social issue symptoms of our crumbling commons, the ruins of public education, as the owners search for new vectors of exploitation.
I see voting blue as akin to requesting we leave the water pumps turned on for this sinking ship to buy time(D), and voting red a vote turn them off because some passengers have been deluded into hating other passengers and really, really want to watch them drown(R) despite being in the same boat with them.
The holes are our economic policy, but ask either party about patching them and you'll get something akin to "What holes? This ship is unsinkable! If you think there's holes, you're the problem."
Dont worry though, there are lifeboats, just enough for the politicians and their donors. Wealth means not having any national allegience.
- The poor man really has a stake in the country. The rich man hasn't; he can go away to New Guinea in a yacht.
  GK Chesterton, The Man Who Was Thursday, 1908
  
  Exactly, multinational oligarchs live in their own reality, with their own infrastructure all over the world.
  We are a piggy bank to rape for private profit, not their society.
  That's what happens when you let people accumulate society warping levels of capital to begin with. Beyond material desires, that's what capital is: power. Power to propagandize entire nations with for profit media, power to capture entire state and world governments, power to live above the Commons you destroy.
  No one should be allowed to gather more power in a society than their single vote allows. This is why civilized nations have publicly funded campaigns, and trying to buy votes is still a crime. Other people live here. Thre should be a 100% wealth tax somewhere in the high double digit millions where you get a cake and a medal and a senator comes and shakes your hand for all future money going to repair and improve the commons like roads and education and HEALTHCARE that facilitated their rise to such astronomical success to begin with.
  Citizens of the Nordic nations, the happiest people's on Earth, largely have no problem being taxed for success because they're educated to understand that their success is society's success, and they live in society so everyone wins. Hard work yields bigger homes and toys, but not sociopaths trying to buy half of Hawaii's beaches to lock their fellow citizens away from that lived there first away from them for example.
  They chose live together, we choose die alone. Most people suffer under die alone. I wish Americans weren't so successfully propagandized into being hostile towards the very idea of society on the basis of "well you might be rich one day, and you don't want filthy poor people making you less rich when that happens, do you, you fucking sucker?"
Lmao, he rebuilt the stock market.
That is not the economy.
https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm
This is a chart showing percentage difference over 12 months of CPI for the last 20 years. Biden's presidency came with less than 1% inflation which only rise to record levels in the first 2 years. It has come down to high 2% and settled at that level.
In the last 12 months everything other than energy prices have rise by 2.4%. A 2-2.4% in prices after having 2 years of near 10% inflation.
You can see how Democrats saying that they have done good for economy and common man seems hollow.
- Nov 20 Nov 20 Nov 20
  
  c/dataisugly
  
  You can check the website linked in the comment.
- With the years:
- Biden's term started in 2021, CPI peaked in 2022 and fell just as quickly.
  Inflation actually peaked in Mid-2021 and fell.
  
  I am not saying Biden or Democrats didn't do anything,
  My point is 1$ thing was 1.1$ at the end of 2022, 1.12$ 2023 and 1.15$ at the end of 2024 when voting happened. The rise in food was much more substantial.
  While at the same time, there was no growth in salary and the constant threat of being laid off.
  Edit 1: People have a very limited memory and the mere perception that things are bad and wont change. It is understandable if they are uninterested in either outcome.
Imagine believing that genocide joe "rebuilt" the economy in any kind of just, sustainable, or meaningful way.
- Do you have an actual argument, or just insults?
He rebuilt the economy? What the fuck are they on about? Inflation is crazy high, there'e layoffs like every other day, and 60% of the country still lives paycheck to paycheck. Does huffpo think we all have our heads up our asses?
- Haven't you heard that Biden won and then Kamala won as well?
- Inflation isn't high anymore. Price increases are back to normal.
  Layoffs in the past year or two have nothing to do with the economy, most companies doing the layoffs are making more profit than ever, except maybe Boeing but that's clearly not economy related. They just want more money. Had nothing to do with the economy.
  
  Layoffs have everything to do with the economy. If money isn't going in then it isn't going out and as money slows down, so does the economy. It doesn't work without the people.
- Inflation is pretty much normal
  It was high for a while from supply chain disruption and pandemic spending, but it’s back to near normal. Obviously the accumulation of the last several years suck. The next administration should take note before going overboard with tariffs
Why does he look like Kim Jong Un in this picture 😂
- Just a small boy too scared to do anything but try and act tough.
- Kim Jong IL more like.
- He kind of looks like that sad cat meme
He looks horrible
- Trump always looks horrid, it's just genuinely baffling he can even move. I'd be shocked if he doesn't die in office on this term.
  
  President Jorkin Dapeanus Vance. Horrifying.
- I think the problem you have is you think these two thoughts are coming the same person. It's like saying "Americans are so hypocritical- one moment you hear someone say gay people have rights and then the next you hear someone say that they shouldn't- make up your mind!" As if it was one person talking.
  The internet isn't just you talking to one person who is busy creating threads with millions of accounts. There are at least a few dozen people here.
- People on the left don't consider the type of rebuilding the liberals do to be very constructive for most people.
- It's not all or nothing, the president absolutely influences the economy, but it's indirectly enough that those changes come about slowly.
- It's like steering a large ship. Any input to the controls take some time before they actually have any effect. So if you're suddenly dropped at the helm, you're pretty much at the mercy of whatever the last guy was doing for the immediate future. But that doesn't mean you can't attempt to get the ship back on course either, as whatever you do at some point will have an effect.
  On another note, hard to blame Obama for 2008 in any case given he didn't become president until 2009.
Nope

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