Biden grew economy by 5.2% in the third quarter, even faster than previously estimated

[99percenter]

https://www.cnn.com/2023/11/29/economy/second-estimate-third-quarter-gdp/index.html

Good job Joe.

 

[multivita-man]

https://www.cnn.com/2023/11/29/economy/second-estimate-third-quarter-gdp/index.html

Good job Joe.

Anybody who wants a job can pretty much get one now, and it's been that way since January 2021. Moreover, there's been at least some moderation, just enough cooling to tame wage pressures so that we're less likely to be dealing with wage-spiral inflation, which was the fear. Rents may increase as long as housing prices remain elevated but new housing starts could actually help with that.

 

[Bullseye]

https://www.cnn.com/2023/11/29/economy/second-estimate-third-quarter-gdp/index.html

Good job Joe.

Your like also says "slowdown expected . . .". Cancel the Champagne.

 

[Ishm]

Your like also says "slowdown expected . . .". Cancel the Champagne.

We desperately need the slowdown. Then the Fed can start to lower interest rates which will relieve a lot of people with debt, and just as importantly start lowering the cost of servicing govt debt. The champagne comes if we can get inflation down without driving unemployment and/or interest rates significantly higher. Achieve that and Biden and the Fed can claim to have done a good job.

 

[99percenter]

Your like also says "slowdown expected . . .". Cancel the Champagne.

Yes because gop still has congress

 

[Bullseye]

Yes because gop still has congress

It doe now if they can know off fighting each other and fight the dems.

 

[Isidore]

Your like also says "slowdown expected . . .". Cancel the Champagne.

Other than one quarter during the V-shaped Covid recession, quarterly GDP growth never exceeded 4.6% when Trump was in office – there were no consecutive quarters above 4.0%.

So, yeah – we are very unlikely to have sustained growth over 4.0%. We might even go back down to levels seen prior to Covid.

 

[stealthycat]

Biden didn't crash the economy, he gets no credit for all that, right?

stop giving him credit for it rebounding then, fair is fair


but if ya'll want to give credit ? lets do it

we could go on and on and on and while any news is good news in Biden's economy .... perspective matters


The U.S. poverty rate saw its largest one-year increase in history. 12.4% of Americans now live in poverty according to new 2022 data from the U.S. census, an increase from 7.4% in 2021. Child poverty also more than doubled last year to 12.4% from 5.2% the year before. https://time.com/6320076/american-poverty-levels-state-by-state/

SEPT. 12, 2023 — The U.S. Census Bureau announced today that real median household income in 2022 fell in comparison to 2021

Income, Poverty and Health Insurance Coverage in the United States: 2022

The U.S. Census Bureau announced today that real median household income in 2022 fell in comparison to 2021.

www.census.gov

new U.S. census data shows the child poverty rate more than doubled in 2022

As child poverty doubles, states launch or expand their own tax credits • Nevada Current

The federal pandemic-era child tax credit expansion lifted millions of children out of poverty in the second half of 2021. But Congress allowed it to expire at the end of that year, and new U.S. census data shows the child poverty rate more than doubled in 2022, erasing the record gains that...

www.nevadacurrent.com

The poverty rate rose from 11.7% in fall 2021 to 13.2% in the first quarter of 2023, according to the California Poverty Measure (CPM), a research effort by PPIC and the Stanford Center on Poverty and Inequality that accounts for housing costs and safety net benefits.Oct 24, 2023

July 8, 2023It's not shocking: The average real wealth of US middle class households has fallen more than $33,000 this year alone.

Why America’s Middle Class Is So Stressed Out: A Week of Big Take

Inflation is leveling off, consumers are spending, the housing market is stabilizing and unemployment remains at historic lows, even though the job market cooled slightly in June.

www.bloomberg.com

 

[Kushinator]

Your like also says "slowdown expected . . .". Cancel the Champagne.

Of course they're is going to be a slowdown in growth as it normalizes in the washer of real tightening (interest rates exceed inflation)... that doesn't negative the amazing performance of the economy.

Why do you want America to lose?

 

[Kushinator]

Biden didn't crash the economy, he gets no credit for all that, right?

stop giving him credit for it rebounding then, fair is fair

The economy had already rebounded. You know not what you speak of.

We could go on and on and on and while any news is good news in Biden's economy .... perspective matters

Cherry picking poverty statistics or fumbling with household wealth statistics? It's your butt-hurt partisan narrative... I'll just be here too crucify it.

 

[stealthycat]

The economy had already rebounded. You know not what you speak of.

Cherry picking poverty statistics or fumbling with household wealth statistics? It's your butt-hurt partisan narrative... I'll just be here too crucify it.

not cherry picking - the stats are what they are

a "economy grew" report is fine, but don't let that overshadow just how bad things are and hey, giving Biden credit here, aren't we ?

 

[jaypatriot]

Anybody who wants a job can pretty much get one now, and it's been that way since January 2021. Moreover, there's been at least some moderation, just enough cooling to tame wage pressures so that we're less likely to be dealing with wage-spiral inflation, which was the fear. Rents may increase as long as housing prices remain elevated but new housing starts could actually help with that.

Can someone explain to me why Biden is still running for president? Is it to make Kamala the first female president just before he quits for health reasons?

Where Are the Pros in Biden’s Campaign?​

It’s unclear that his relatively greenhorn team can even fix his failing 2020 strategy.​

---

By Karl Rove
Nov. 29, 2023 6:09 pm ET

We knew the answer as soon as the question was raised.
Ed O'Keefe of CBS asked press secretary Karine Jean-Pierre if, “given the president’s sagging poll numbers,” which show him trailing “any Republican opponent,” there has “been any talk in this White House about a change in strategy or staffing.” Ms. Jean-Pierre dismissed this with a curt “no.”

She had to say that. Any other answer would have been chum for a room full of journalistic sharks. But a change in strategy and staffing should be discussed in the West Wing.

President Biden’s numbers stink. In a Nov. 13 Fox News poll, he trails Donald Trump by 4 points, Ron DeSantis by 5 and Nikki Haley by 11. That’s after spending tens of millions on digital, cable and network ads and holding endless presidential and cabinet events extolling his achievements.
Despite this, Mr. Biden’s overall approval rating is an anemic 40.6% in the RealClearPolitics average. His approval numbers on handling the economy, crime, foreign policy, immigration and inflation are even worse (at or below 38.4%).
Mr. Biden has tried campaigning via a jumble of self-congratulatory policy pronouncements, generally so tone-deaf and superficial as to invite ridicule. Take Monday’s announcement of the new Council on Supply Chain Resilience, at which Mr. Biden unveiled 30 steps to “strengthen America’s supply chains.” How many American voters can name a single one?
Having appointed a task force on the same subject in June 2021, Mr. Biden’s announcement Monday was a stunt to draw attention. But it didn’t get any. Small-ball proposals aren’t any more impressive if they’re issued by a “council” rather than a “task force.”
Though it’s clear Team Biden’s strategy isn’t working, they seem intent on doing more of the same. Their last resort will be that of any failing campaign: Go thermonuclear on their adversary. That might work if his opponent ends up being Donald Trump, but it won’t if Republicans nominate a different candidate.
Even a new strategy might not overcome Mr. Biden’s manifest weaknesses if he doesn’t have the right campaign team.
There are strong, seasoned campaign operatives in the West Wing. Deputy chief of staff for operations Jen O’Malley Dillon was Mr. Biden’s 2020 manager and has almost a quarter-century of election experience. Senior adviser Mike Donilon, Mr. Biden’s strategist in 2020, has spent more than 40 years in campaigns. Senior adviser Anita Dunn began working in campaigns in the 1980s. White House counselor Steve Ricchetti was the Democratic Senatorial Campaign Committee director in the 1990s and chairman of Mr. Biden’s 2020 campaign. But all now have important White House governing responsibilities. Where are their equals in the campaign?
There are none.

Opinion | Where Are the Pros in Biden’s Campaign?

It’s unclear that his relatively greenhorn team can even fix his failing 2020 strategy.

www.wsj.com

 

[Kushinator]

not cherry picking - the stats are what they are

You were trying to cherry pick because a strong economy hurts your feelings for some strange reason.

a "economy grew" report is fine, but don't let that overshadow just how bad things are and hey, giving Biden credit here, aren't we ?

Why do you believe these few changes to the downside from 2021 to 2022 matter without any consideration of the data history or the dynamics? No need to answer. I have already outlined your deficiency.

 

[Kushinator]

Can someone explain to me why Biden is still running for president?

Yet another butt-hurt cultist who wants America to fail when their political team shits the bed come election time.

 

[stealthycat]

You were trying to cherry pick because a strong economy hurts your feelings for some strange reason.

I actually said ANY good news is good news didn't I ? but fact is, we're still hurting in the USA under Biden's presidency bigly

Why do you believe these few changes to the downside from 2021 to 2022 matter without any consideration of the data history or the dynamics? No need to answer. I have already outlined your deficiency.

I'm just posting facts - its not all roses right now, far far from it

 

[Kushinator]

I actually said ANY good news is good news didn't I ?

Only to try to push ANYTHING negative like isolated poverty data.

It's not going to work.

but fact is, we're still hurting in the USA under Biden's presidency bigly

Your opinion does not matter, and you're not in a position to adequately defend it so

I'm just posting facts - its not all roses right now, far far from it

You're cherry picking due to insecurity, and do not know any other way to communicate your grievances without being fallacious.

 

[VanceMack]

Whatever else happens, the democrats should absolutely keep Joe Biden as their candidate for president and Joe should ABSOLUTELY run on the state of the economy and how much better everyone's lives are. And if he really wants to seal the deal he can talk about how effective his illegal immigration policies are.

 

[Isidore]

The U.S. poverty rate saw its largest one-year increase in history. 12.4% of Americans now live in poverty according to new 2022 data from the U.S. census, an increase from 7.4% in 2021. Child poverty also more than doubled last year to 12.4% from 5.2% the year before. https://time.com/6320076/american-poverty-levels-state-by-state/

not cherry picking - the stats are what they are

Lapse of Expanded Child Tax Credit Led to Unprecedented Rise in Child Poverty

The new Census data should provide both concern and optimism for lawmakers. The steep rise in child poverty is an inexcusable tragedy. But it shows that child poverty is avoidable when Congress makes the decision to make tax policy for those who need the hand up rather than for the rich and...

itep.org

What did Biden say about the child tax credit at the State of the Union?

A study shows millions of U.S. children plunged into poverty since the monthly child tax credit ended. President Biden addressed it at the State of the Union.

www.9news.com

March 1, 2022

President Joe Biden urged Congress to pass an extension of the 2021 enhanced child tax credit during his State of the Union address Tuesday night along with other proposals aimed at reducing the cost of child care for American families.

 

[Kushinator]

Whatever else happens, the democrats should absolutely keep Joe Biden as their candidate for president and Joe should ABSOLUTELY run on the state of the economy and how much better everyone's lives are. And if he really wants to seal the deal he can talk about how effective his illegal immigration policies are.

What do your opinions of Joe Biden's election strategy have to do with this thread?

Another example of a butt-hurt cultist.

 

[newpublius]

Your like also says "slowdown expected . . .". Cancel the Champagne.

It is what it is. At the moment the current economic indicators are good, but the leading economic indicators aren't.

US Leading Indicators

The Conference Board Leading Economic Index® (LEI) for the United States

www.conference-board.org

Grey line is good, the blue line is storm clouds on the horizon. Will that play out? Not sure, while it IS my opinion that increases the possibilities of a recession in the near future, its NOT my opinion that the current LEI aren't looking good, that IS what they are.

 

[jaypatriot]

Yet another butt-hurt cultist who wants America to fail when their political team shits the bed come election time.

I hope you're not referring to me as a MAGA cultist.
I want Nikki to surpass Trump. And I would like to see Trump in jail. And I want to see doddering Biden out of the race.

Is that clear? IN case you care.

 

[stealthycat]

Only to try to push ANYTHING negative like isolated poverty data.

It's not going to work.

Your opinion does not matter, and you're not in a position to adequately defend it so

You're cherry picking due to insecurity, and do not know any other way to communicate your grievances without being fallacious.

you're right of course, all the millions in poverty probably love Bidenomics and certainly liberals don't care about them

so hey, all is great !

 

[Greenbeard]

you're right of course, all the millions in poverty probably love Bidenomics and certainly liberals don't care about them

Biden oversaw the largest drop in poverty and lowest poverty rate ever, the rebound is because Congress allowed his policies to expire. That fact that discontinuing the relevant components of Bidenomics sharply increased the poverty rate is about as solid proof as you can get that they were extremely effective at reducing poverty.

 

[Kushinator]

you're right of course, all the millions in poverty probably love Bidenomics and certainly liberals don't care about them

You don't care about people who are in poverty, so stop trying to use their misfortune as a political tool.

so hey, all is great !

Millions of people became impoverished the day Biden took office??? Or was it the day his should package passed??? Or was it the day the GQP sold it's soul to Russia???

 

[Kushinator]

I hope you're not referring to me as a MAGA cultist.

You push Russian disinformation just like a cultist.

I want Nikki to surpass Trump. And I would like to see Trump in jail. And I want to see doddering Biden out of the race.

Wrong thread. Perhaps you want to counter the data release by ranting about the record inflation consumers face, how poverty has grown in 2022, or that millions of people are in poverty!

Nah.... Instead you'll talk about elections.

Is that clear? IN case you care.

Just because you claim to be against the MAGAsphere while constantly regurgitating MAGA talking points doesn't fool anyone.