The Biden economy: Better than thought. Worse than we hoped

https://www.cnn.com/2021/09/30/economy/us-economy-second-quarter-gdp-revision/index.html

I don't start a lot of threads, but this one seemed interesting. Especially because of this tidbit, which seemed to be a favorite number Trump pointed to:
"Gross domestic product, the broadest measure of economic activity, expanded at a rate of 6.7% between April and June, rather than the 6.6% and 6.5% reported in earlier estimates."
So, using Trump logic, Biden is better for the economy, since he outperforms Trump in this category.
Just thought it would spur some "interesting" debate.

 

Looks like Biden found the magic wand

 

Deleted.

 

Well, it is GDP so, we are chugging right along under COVID19. Now, if we can just get the Trump "Republicans" to work for all American people.

 

I don't understand what you mean by "deleted".
Did someone delete your comment?

 

That’s actually leftie logic thrown out all the time.

If you can’t tell this admin is a disaster then I can’t help you.

 

You mean by growing government at the expense of the American people?

 

You mean like under Trump?

 

LOL, Trump isn’t President and democrats want to push over 5 trillion in new spending. FAIL

 

So you do mean 'like under Trump'. Figures.

 

Sure, sure...everything I routinely purchase rises in price each time I go to purchase it again...my monthly "budget" electric bill just rose by a full 48%, no doubt to be followed by a similar increase in my "budget" natural gas bill....why, I should be ecstatically dancing naked in the streets! Better under Biden and the Democrats? BULLSH*T!!!!!!!!!!!

 

Government is never responsible for growth; only the degree in which growth is hindered. Those responsible for growth will be punished with higher taxes.

 

I did. It doesn't allow to 'cancel' if you started a post that you rethink on, so you have to put something.

 

The current unemployment rate is 5.2% (as of August). That says a lot more about the state of the 'economy' then the GDP does at this point in time. Since we are experiencing inflation, the current market value of finished goods would be naturally higher then previously. It doesn't mean we are receiving the value for dollar of goods, and purchasing power is dropping.

 

Fake News. Expectations are still 20% below the 8.5% growth rate economists had forecast.

Dems face reality, finally agree to a clean funding bill, and the GOP promptly supports passage just as we said they would the whole time..

Senate Reaches Deal to Avoid Partial Government Shutdown.

“Schumer made one last effort to get the GOP to agree to increase the debt ceiling by including a suspension of the debt limit in the government funding bill until December of 2022, but Republicans insisted on passing a ‘clean’ funding bill and Schumer reluctantly acquiesced.”

It's time for elected Democrat leaders to quit playing their childish "messaging" games and grow up. These are serious times and we need solid performances from our representatives or we will replace them in the upcoming elections. They need to follow the wiser paths chosen by Sinema and Manchin.

 

You mean after you hit the "post reply" button, right?

 

GDP doesn't make a dam to the average American
what does is the price of gas at the pump, the heating bill, the cost of milk and bread at the grocery store you know the stuff that matters to anyone trying to support a family
that is what matters and that is what voters will be thinking about when they cast their vote
I'm a better off today under democrat rule or was I better off when Trump was president?

 

No. If you try to back out, it will carry over the original poster to a future reply.

 

It's not fake news, unless you are saying the numbers quoted in the article are fake. I don't think it's much of an indication about the performance of whomever the President is at the time, just using this information to make a point. There are many other factors that have nothing to do with presidential decisions.

 

We can end this farce right now. GDP is calculated using inputs that include government spending and government debt. When both increase, so does GDP by default.

How GDP increased is what matters, not whether or not the number went up. Private spending and private investment = good. Government spending = not good.

 

We are CAPITALIST economy, success or failure is inked directly to GDP. The GDP achieved for first and second quarters EXCEED anything realized by Trump in his 4 years.

 

Being better off has a lot of implications and also is very subjective. My family was good under Trump, but not better than under Obama, at least financially. Due to inflation, it seems that we are a little worse off now, but I don't see that it is due to Biden. I have noticed the trends for about 2 years now, but most of it was not due to Trump or his decisions, unless you consider that we could have done some things differently at the onset of the pandemic. Eventually, as we are so connected in the modern world, covid would have spread anyway. But hindsight is 20/20!
Honestly, I don't think Presidents have much to do with everyday life for the average American, Congress has a much larger effect.

 

2+2=4 isn't fake
but 2 bananas + 2 apples = 4 oranges is

its about context and perception not just number equations

 

What exactly are you saying is a farce?

 

Yeah, when you go to "edit" and remove everything you still have to post something.