Biden Admits His Policies Are Hurting Us

[Hip septuagenarian]

If it moves, tax it.

If it keeps moving, tax it more.

If it stops moving, subsidize it.




Biden's Fed screwed up with the interest rate hikes. Now Biden's handlers feel they need to subsidize the housing market because what they've done has hurt middle class and lower Americans.

Interest rate hikes helped slow inflation. That's one reason why we have much lower inflation than any other country. Now President Biden, who needs no handlers and doesn't need to be told what to do, unlike the MAGA sheep, wants to help the middle class hurt by Trump's tax cuts for the super rich. Ksu, you show a lack of understanding of basic economics, and a willingness to believe any lie or distortion fed to you by the far right.

 

[Hip septuagenarian]

Handouts is only going to lower the cost of housing for the select few. It's inflationary and it'll hurt all the people who don't qualify for the handout let alone rack up the deficit. Better to work on increasing the housing supply. Cut zoning laws & city permit fees so more homes can be built.

Sure, cut zoning laws so somebody can build a rendering plant next to my house. No thanks.

 

[ksu_aviator]

Interest rate hikes helped slow inflation. That's one reason why we have much lower inflation than any other country. Now President Biden, who needs no handlers and doesn't need to be told what to do, unlike the MAGA sheep, wants to help the middle class hurt by Trump's tax cuts for the super rich. Ksu, you show a lack of understanding of basic economics, and a willingness to believe any lie or distortion fed to you by the far right.

Lol, Biden needs handlers. He can't even find his way off a stage.

As for the economy, in a normal inflationary period increased interest rates help. This wasn't a normal inflationary period.

Start from the beginning. Inflation is caused by an imbalance of demand and supply. Normal inflationary periods saw increased demand as the root cause of inflation. This inflationary period saw a decrease in supply coupled with increased cash demand.

Why is that important? The supply, as we all know, was constrained by shut downs and quarantines. The shut downs prevented manufacturers from meeting demand. The lack of things to buy and the fact that people were shut in left consumers flush with cash. The lack of consumers left businesses in debt.

Now the government comes along and raises interest rates. How does that slow the consumer that is flush with cash? It doesn't. What does that do to the business that needs operating capital to meet demand? It makes it harder.

The end result was a slower recovery from the transitory inflation that was predicted.

It did have a positive side. That positive side is the government paused writing money because people were and are actually buying bonds again. But, that means the government is paying more to service the debt. Combine that with record deficits and soon, they will lower interest rates and print money.

 

[Ahlevah]

Sure, cut zoning laws so somebody can build a rendering plant next to my house. No thanks.

Get the federal government out of the mortgage business. Government backstopping 30-year loans at sub-3% rates is a big reason we’re in another housing bubble.

 

[iamwhatiseem]

If it moves, tax it.

If it keeps moving, tax it more.

If it stops moving, subsidize it.




Biden's Fed screwed up with the interest rate hikes. Now Biden's handlers feel they need to subsidize the housing market because what they've done has hurt middle class and lower Americans.

Yeah this isn't vote buying at all
Meanwhile Social Security is finally, and actually getting to the place where it is in real trouble.
But hell with that!

 

[Deuce]

OP lies yet again. lol.

 

[Hip septuagenarian]

Lol, Biden needs handlers. He can't even find his way off a stage. That is absolutely untrue. Remember George W Bush and the locked doors? How about Trump falling down a short flight of stairs? We all look awkward at times.

As for the economy, in a normal inflationary period increased interest rates help. This wasn't a normal inflationary period. But those increased rates did help, easing inflation better than in any other country.

Start from the beginning. Inflation is caused by an imbalance of demand and supply. Normal inflationary periods saw increased demand as the root cause of inflation. This inflationary period saw a decrease in supply coupled with increased cash demand. None of which could be controlled by any president.

Why is that important? The supply, as we all know, was constrained by shut downs and quarantines. The shut downs prevented manufacturers from meeting demand. The lack of things to buy and the fact that people were shut in left consumers flush with cash. The lack of consumers left businesses in debt. All true, but it was a worldwide shutdown, necessary to save lives.

Now the government comes along and raises interest rates. How does that slow the consumer that is flush with cash? It doesn't. What does that do to the business that needs operating capital to meet demand? It makes it harder. And it slows inflation, making goods more affordable, thus increasing demand, as we are seeing.
.
The end result was a slower recovery from the transitory inflation that was predicted. Actually, the opposite is true. Many experts were predicting a recession, but it never happened.

It did have a positive side. That positive side is the government paused writing money because people were and are actually buying bonds again. But, that means the government is paying more to service the debt. Combine that with record deficits and soon, they will lower interest rates and print money. Those record deficits are largely due to Trump's ill-advised tax cuts for the uberwealthy.

 

[Hip septuagenarian]

Get the federal government out of the mortgage business. Government backstopping 30-year loans at sub-3% rates is a big reason we’re in another housing bubble.

It's also a big reason why we don't have substantially more homeless people than we do.

 

[MSgt]

Yeah this isn't vote buying at all

Ever notice that whatever a President does during an election year gets reduced to "voter buying" by the other side? Of course, sitting on his hands and doing absolutely nothing for the country during an election year would just be met with irrational scorn too. No, this is "voter buying"...

Meanwhile Social Security is finally, and actually getting to the place where it is in real trouble.
But hell with that!

Social Security is exactly where Republicans have been working it towards for decades. Time and again, they obscenely cut taxes, then attack Social Security and Medicaid as reasons for their debt. Then they declare it all as simply "unsustainable."

 

[iamwhatiseem]

Ever notice that whatever a President does during an election year gets reduced to "voter buying" by the other side? Of course, sitting on his hands and doing absolutely nothing for the country during an election year would just be met with irrational scorn too. No, this is "voter buying"...

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Social Security is exactly where Republicans have been working it towards for decades. Time and again, they obscenely cut taxes, then attack Social Security and Medicaid as reasons for their debt. Then they declare it all as simply "unsustainable."

 

[Ahlevah]

It's also a big reason why we don't have substantially more homeless people than we do.

Higher home prices and rents thanks to government subsidies reduce homelessness? Explain how that works exactly. The government’s plan for the economy since Roosevelt’s New Deal has been to subsidize things, whether it be housing, medical care, education, food, or whatever, and then have people curse greedy corporations when prices rise even though it’s their policies that have led to inflation and the debasement of the dollar. They plan for it: in 10 years it’s supposed to lose 20% of its value. Sometimes things go haywire and they lose it in four years instead, like it did from 2019 through 2023. Notice they never guarantee working stiffs a 25% raise to get back to even, which, thanks to the steady drumbeat of a continuous cycle of reflation, they never do. The people who really get ahead are the already rich ones who own assets they’re not making anymore, like beach-front real estate and de Koonings.

 

[ralfy]

It's like a house of cards, where credit trickles down to people who buy houses, then use the houses to obtain even more credit to buy stuff for their houses, and so on, with the hope that the income will continue coming in from work to pay for all that, and that the same income will keep rising in exchange for being more productive.

 

[MrWonka]

Biden's Fed screwed up with the interest rate hikes.

Ummm....The leader of the Fed took office in 2014. Joe Biden wasn't in office, guess who was?

 

[Hip septuagenarian]

Higher home prices and rents thanks to government subsidies reduce homelessness? Explain how that works exactly. The government’s plan for the economy since Roosevelt’s New Deal has been to subsidize things, whether it be housing, medical care, education, food, or whatever, and then have people curse greedy corporations when prices rise even though it’s their policies that have led to inflation and the debasement of the dollar. They plan for it: in 10 years it’s supposed to lose 20% of its value. Sometimes things go haywire and they lose it in four years instead, like it did from 2019 through 2023. Notice they never guarantee working stiffs a 25% raise to get back to even, which, thanks to the steady drumbeat of a continuous cycle of reflation, they never do. The people who really get ahead are the already rich ones who own assets they’re not making anymore, like beach-front real estate and de Koonings.

Helping people buy homes means that more people buy homes, so fewer people are homeless. It really is quite simple. Do you not believe that food stamps and other such programs mean fewer hungry people?

 

[Ahlevah]

Helping people buy homes means that more people buy homes, so fewer people are homeless. It really is quite simple. Do you not believe that food stamps and other such programs mean fewer hungry people?

We can help people buy homes if we can get the government to stop generating artificial demand. The people who should be buying homes—young families—can’t afford them thanks to decades of federal subsidies. By setting artificially-low interest rates, thus fueling speculation, and backstopping mortgages, housing is made less affordable for everyone.

 

[Hip septuagenarian]

We can help people buy homes if we can get the government to stop generating artificial demand. The people who should be buying homes—young families—can’t afford them thanks to decades of federal subsidies. By setting artificially-low interest rates, thus fueling speculation, and backstopping mortgages, housing is made less affordable for everyone.

You are saying that because the government helps young families buy homes, they can't afford them. Do you realize how absurd that is? That's like saying that people are starving to death because we give them food.