The 4 Big Lies (And 1 Terrible Truth) In Biden’s ‘Bidenomics Is

Discussion in 'Political Opinions & Beliefs' started by XXJefferson#51, Jul 2, 2023.

  1. XXJefferson#51

    XXJefferson#51 Banned

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    In a 30-minute speech in Chicago this week, President Joe Biden declared that his economic policies — which can charitably be summed up as “borrow and spend, tax and regulate” — are doing wonders for the nation’s economy…

    …No. The only risk we face, Biden argued, was a return of that bogeyman known as “trickle-down economics.”

    “Folks, let me say this as clearly as I can,” Biden said. “The trickle-down approach failed the middle class. It failed America. It blew up the deficit. It increased inequity. And it weakened the in — our infrastructure. It stripped the dignity, pride, and hope out of communities one after another, particularly through the Midwest, Western Pennsylvania, and heading west.”

    Scary!

    Or, it would be, if there was a shred of truth to it. The middle class made huge gains during the “trickle-down” Reagan boom and was making huge gains during the Trump boom until the Biden-backed COVID lockdowns gutted it.

    Truth is, the only way Biden can make the case for “Bidenomics” is by lying…










    https://issuesinsights.com/2023/06/...truth-in-bidens-bidenomics-is-working-speech/









    Biden’s economic policies are a disaster for America. Especially for middle and working class people in blue states. Biden’s economy has triggered the exodus of many of us from blue urban areas to red exurban and small city places.
     
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  2. XXJefferson#51

    XXJefferson#51 Banned

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    Biden is a liar. Bidenomics is a failure. Trump and MAGA are the cure, the solution to our problems.
     
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  3. straight ahead

    straight ahead Well-Known Member

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    There's no such thing as Bidenomics.

    This is a guy who can barely walk or talk.
     
  4. Rampart

    Rampart Banned

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    lololol "conservatives" hate when america and its people are doing well and will do ANYTHING to destroy the economy before next november.
     
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  5. kriman

    kriman Well-Known Member Past Donor

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    You call this doing well? Prices are sky high. My grocery and utility bills are out of sight.
     
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  6. Quantum Nerd

    Quantum Nerd Well-Known Member

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    Inflation is continuing to trend down. It's at 4% year over year in May, much better than in many other developed countries. People are noticing. I don't think inflation will be the deciding factor in 2024 that Republicans had hoped for.
     
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  7. Just A Man

    Just A Man Well-Known Member

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    Biden doesn't lie -- he reads lies from a teleprompter.
     
  8. 2ndclass289

    2ndclass289 Newly Registered

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    Doing well, really, doing well…. I mean, really??

    Oh wait, I forgot, as long as “your guy” is in office, you consider the country doing well.

    I’d like to give your phone number to a few of my tenets, as long as we are “doing well” you won’t mind speaking to them, right?
     
  9. kriman

    kriman Well-Known Member Past Donor

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    That does not erase the effects of inflation which has already occurred. My stock market holdings are not rising and inflation ate into them. That money is needed for my wife after I pass away.
    What is happening on the other side of the world is not affecting me.
     
    Last edited: Jul 2, 2023
  10. straight ahead

    straight ahead Well-Known Member

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    Uhhhh, Biden is great because inflation isn't as bad as it used to be. Of course, last year we said the numbers weren't true, but now that the numbers went down we believe them. :nana:
     
  11. 2ndclass289

    2ndclass289 Newly Registered

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    A completely honest response:



    I know, some of you will more than likely say, “He was having a bad day, or whatever.

    NEWSFLASH: this ridiculous worthless politician has been having a “bad day” since before his handlers had him run.

    He was given this position because he is easily controlled.

    Say whatever you will.
     
  12. 2ndclass289

    2ndclass289 Newly Registered

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    Inflation today, ok, but how about inflation tomorrow and forward?
    Who’s going pay for all the illegals, student debt loan, free housing they are building in most cities, and I could go on but why bother.

    I won’t be paying Quantum Nerd, but likely you, your kids, and your grandkids will.
     
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  13. Quantum Nerd

    Quantum Nerd Well-Known Member

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    And? Since when can the president guarantee that your stock holdings always grow more than inflation? They can't, nobody can, not even Trump, who had a significant stock market drop at the end of 2018, even before covid. As a stock investor, if you want to benefit from the risk premium of stock returns, you also have to account for the risk, i.e. that you stocks can drop by +50% at any time. Of course, it's easier to blame Biden for it than to make the commensurate adjustments to your savings rate/portfolio balance.

    Now, I agree that in a rising interest rate environment, there was no place to hide as an investor. Bonds did terrible the last couple of years. However, those bonds that you bought in 21/22 at reduced price will pay dividends down the road when inflation is under control, but you still enjoy their high yield. Investing is a long term game. In the long run, what happened in the last two years makes no difference, much as what happened in 2007/2008 under Bush had only short term effects on my net worth. In fact, in retrospect it was a good buying opportunity.

    Oh, please, illegals? Really?

    And, yes, our kids or grandkids will be paying for our folly, both for devaluing the dollar, which both parties do, and wantonly using up non-renewable resources, like oil etc., leaving them with an empty bag and lots of debt.
     
    Last edited: Jul 2, 2023
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  14. kriman

    kriman Well-Known Member Past Donor

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    Then don't brag about how well we are doing.
     
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  15. Quantum Nerd

    Quantum Nerd Well-Known Member

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    I wasn't bragging about anything, I just said that current inflation is nowhere near as bad as Trump and co would want you to believe.
     
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  16. ricmortis

    ricmortis Well-Known Member

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    Bidenomics was a brilliant plan by the elites to raise average salaries for the lower classes across the board by increasing prices of everything else. Thus, the middle class pays the most with increased prices, the lower classes get more money while cost of living rise then the elites make out as bandits with even more money. Genius.
     
    Last edited: Jul 2, 2023
  17. kriman

    kriman Well-Known Member Past Donor

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  18. spiritgide

    spiritgide Well-Known Member Past Donor

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    Yes, but he has handlers... and puppet masters, and ventriloquists among them.
     
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  19. Surfer Joe

    Surfer Joe Well-Known Member Past Donor

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    Lol...that parochial view is demonstrably wrong.
    The economic shocks from the pandemic and the Ukraine invasion are a global phenomenon.
    Deal with it.
     
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  20. kriman

    kriman Well-Known Member Past Donor

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    Then tell Biden to deal with it. Don't tell me about how good it is.
     
  21. XXJefferson#51

    XXJefferson#51 Banned

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    We are not doing well. Most all of us feel the effects of inflation and the working and middle class especially in big blue urban areas are the hardest hit by “bidenomics.
     
  22. straight ahead

    straight ahead Well-Known Member

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    I wish I could like this twice.
     
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  23. Hey Now

    Hey Now Well-Known Member

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  24. XXJefferson#51

    XXJefferson#51 Banned

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    We know we have at least two more fed interest rate hikes soon and no prospect of a rate cut before 2025. That means high loan payments, harder to get to buy a home, and no sign inflation will get back to the desired less than 2% range. The economy and slow growth possibly a mild recession will be factors in the 2024 election.
     
  25. spiritgide

    spiritgide Well-Known Member Past Donor

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    Inevitably, the left claims it's Bidenomics folly is not worse if not better than other administrations. One has to wonder how many people are so detached from reality that they can agree with that.
    Here's one who doesn't

    HARVARD ECONOMIST EXPLAINS ‘BIDENOMICS’ AFTER PRESIDENT TOUTS ECONOMY IN SPEECH: ‘PEOPLE AREN’T HAPPY'
    https://www.foxbusiness.com/economy/us-human-capital-crisis-decades-budget-watchdog

    Revealing just how costly Biden administration policies are for the average American household, a top economist and budget watchdog warned of an economic "crisis" not seen in years.

    "This is an across-the-board human capital crisis like we haven't seen for decades," Casey Mulligan, University of Chicago professor and former chief economist at the White House Council of Economic Advisers, said on "Fox & Friends" Friday. "And that's hurting our economy and it hurts regular people in their everyday lives."

    In a recent report authored by Mulligan that compares fiscal impact between the Obama, Trump and Biden administrations, data showed U.S. households facing $10,000 worth of extra costs, mostly from automobile, fuel economy and emissions standards.

    When evaluating what added costs Americans would have faced under a second consecutive Trump administration, the average U.S. household was estimated to save $21,000 over eight years.

    "Workers are not able to be as productive as they used to be. We see it at the school level, the kids aren't learning. Wages aren't keeping up with inflation. That's the other side of the productivity coin," Mulligan explained. "And then a lot of people are dying, and not from COVID, from more than normal deaths, from traffic accidents, diabetes, heart attack. I could go on and on."

    If you are in any way aware of your own financial position, you have seen and experienced the shifts and the effects of this. It's also the attitudes that the ludicrous policies have promoted, where a great many more people today compared to the past think the government or someone else should make their life better, pay their way, forgive their debts and basically be their sugar-daddy. Those aren't adult values, those are spoiled brat can't-cut-it beliefs.... And they are not conservative beliefs.
     
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