U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

I understand the very same thing that 70% of Americans understand, the country is going in the wrong direction under Biden.

 

The number argument.

One of my favorites.

So I understand that if Biden is re-elected in 2024, will you comply with the decision of the majority knowing that you were wrong?

 

If Biden is wins in 24 it in no way means the majority think the country is headed in the right direction. That's a pretty poor understanding of statistics and/or a very poor job at drawing a conclusion. Your previous post demonstrated this same inability to draw a correct conclusion based on data/stats.

 

If Biden wins, it's because the electors think the alternative is worse than him.

 

which is NOT the same thing that you originally said thus the poster you quoted would not have been wrong just because biden is re-elected

 

The number argument.

One of my favorites.

So I understand that if Trump is re-elected in 2024, will you comply with the decision of the majority knowing that you were wrong?

 

“People are worse off than they have ever been”

Question; Are YOU?

 

Trump will never win with the popular vote.

Never.

For 15 years, voters have overwhelmingly supported the Democratic candidate.

 

“And so many are suffering”

Question; Does many includes YOU?

 

another "the sky is falling" article,, for the last 20 years financial experts have predicted a collapse of the economy.

it does not explain the observations I see in the world around me today despite the claim the economy is about to collapse.

Business is booming for banks, energy, and retail , air travel is at an all time high,
las vegas has seen a 25% increase in business since pre pandemic ..healthcare is making record profits
new construction is everywhere...social media is making record profits...a decent ticket for tomorrow's game 3 of the world series in phoenix is at least a $1000 bucks..some are as much as $5K

Not since Bill Clintons presidency has there been a balanced federal budget

when the bottom falls out of the US economy, it will not necessarily be the fault of the current commander in chief

if and when the economy does collapse,

it will be the fault of the bad policy of many administrations over the last 20-25 years

since 2000. Bush and Trump cut taxes 'bigley" Bush cut taxes during a war ,

then sent out $300 bucks to the common man when gasoline was at an all time high

the $300 was basically 4 tanks of gas...

Obuma comes along and saved the auto industry and somehow the country recovers from the real estate bubble bursting

in Obamas 8 years, jobs increased and housing rebounded..

all the while the GOP claimed the sky is falling,

then trump comes along, he finished what others started when cutting taxes..trump took credit for the tax cuts

but it was actually Paul Ryans work that got it done..trump just signed it into law and claimed it was trumps tax cuts

trumps tax cuts expire in 2025...so this may put a shot in the arm for balancing a federal budget

and BTW the tax cuts for the wealthy don't expire ,, those tax cuts were made permanent ,,

maybe if Biden can stay in office he can find a way to fund the IRS properly

then catch some of the tax cheats which will also help reduce the federal deficit

and if Ukraine can stop Putin, it can begin to repay the loans we have made

same for Israel , once they have eliminated the Palestinians , maybe they can return some favors

 

“A slowing economy and counterproductive tax increases were key drivers behind the $457 billion drop in receipts from the prior fiscal year”

FALSE!

What primarily boosted FY 2022’s receipts;

1. Record high capital gains realizations in 2021, nearly $2 trillion according to CBO.

2. Higher corporate gross profits equates to higher Corporate income taxes……”higher prices bring bigger profits”

3. The Fed’s remittances to Treasury

ALSO, last year, I predicted that Biden’s FY 2023 receipts will go back to Trump’s 16% of GDP, AND I WAS RIGHT!

Note; Some below average intelligent people on this site believed that Biden’s record high receipts was due to Trump’s tax cuts.

Please refute all of the above.

 

Why didn't you just say your mind was closed in the first place, and save all this trouble?

 

Why? Since you wouldn't accept anything anyway, why waste the time?

Do you know what a "rube" is? A "grifter"? A "mark"?

If not..... you should look those up. You might find the game is not what you think it is.

 

It's amazing how people talk about the gdp which nobody should care about growing so this means shareholders get more money and somehow that's supposed to make all of this inflation okay.

Let's call inflation what it is savings tax.

 

Elon Musk has it right when he said: "It's easy to fool people- but almost impossible to convince them they have been fooled".

 

Yep, nobody should care about GDP, except when Trump is elected back into office, then GDP becomes VERY important again, and even medicore 2.5% GDP growth will be spun by Trump and fans as the greatest economy ever, and everybody winning beyond their wildest dreams. How can we predict? Well, it happened before, between 2017 and 2020.

For the deficit, of course it goes the other way around. Nobody should care about it when the GOP holds office, but, god forbid a Dem is in the WH, the deficit becomes the most important topic of all, with "the sky is falling" rhetoric. Again, how do we know? Let's just look the the Obama years, and how the Tea Pert magically disappeared the moment Trump was elected, while the deficit exploded.

 

Apparently, you haven't looked at what the deficit is doing now....

 

So, you are saying you will not accept a legitimate election. In case you weren't aware, the presidential elections aren't decided by popular vote. Thank you for your admission that you do not accept election results.

 

I never said that.

You used the numbers argument to make your point.

That's called sophistry.

Just because more people think like you doesn't mean you're right.

And if Trump is ever re-elected - God forbid - it will only be thanks to the Electoral College since he will never have a majority of votes.

 

People should look, and ANALYZE the reasons why the deficit increased from $1.375T to $1.695T.

Agree, or disagree?

 

You don't know that.

 

Should you know why? Absolutely. And you should determine the risk it poses- and it always does. Hard to fix stupid choices if you don't know you have made them.
IF you are a prudent financial manager of your own affairs, you should understand that debt is very dangerous, because it creates an ongoing drain of revenue in the form of interest (debt service) that will never stop if you can't pay it off. Like getting in over your head with credit card debt, and making minimum payments, you can be strapped for a very long time. It's a killer- that if not used judiciously, destroys the future.
We don't make payments on the national debt to reduce it. Due debt is rolled over into new debt and we basically pay only the interest... on an ever-increasing principal.

The interest we pay on the national debt will be $663 billion this year- and $1.4 trillion in 10 years. The interest total of the next 10 years... $10.6 trillion.

Only the foolish and the ignorant think their debt levels don't matter.
I don't think we have the right to spend now and send the bill to children that won't be born for decades in the future- but that is what we are doing.

 

If you are concerned about the National Debt, isn't it erroneous to assign blame to just one party? They both contribute, but actually the Dems are slightly better on the National debt.

 

What I have noticed:

1. People in their mid 30s are still living with their parents due to housing prices. Close to 50 percent of the US population thinks affordable housing is a major problem.

2. People no longer have real pension plans indexed to the cost of living.

3. US servicing debt exceeds GNP.

4. Ever rising food prices due to inflation.

I guess things are good for rich people. Sure growth is good. The IMF, per a link I posted some says ago, has a positive growth forecast for the US. They do express concern over the ration of debt to GNP.

The definition for middle class has changed to a large extent because old people had parents who grew up in the depression who had a view of what middle class was formed during that negative time. Younger people had parents that grew up under a post WWII booming economy. Don't get too smug about this. Things can change very quickly. We have imported both skilled and unskilled labor and exported jobs. How is that going to work out in the future?

 

You do know that SS is a ponzi scheme? Money is paid out as it comes in with any surplus going to the General Fund and spent. It will fail around 2034. What money pool are you talking about? Look up the changing ratio of people paying in to SS, to people getting paid, and tell us the liberal solution for keeping SS solvent.

BTW, I hate to tell you this but the Oligarchy running this country control Biden.