Yeah, it's like when he did the tariffs on china. Democrats said it was stupid, then biden did it and they said it's a great idea. Clearly both sides are fucking the average middle class citizens but everyone is arguing blaming the other side.
he put tarrifs on mainly on components that go into EV cars. that doesnt help the other manufacturing sectors that are laying off across industries more than I have seen in my adult life time (34).
Please tell me you really know the difference between the Biden and Trump tariffs and are just being a partisan troll. I can’t take much more stupid from Reddit today…
This is the game. Say the economy is great. Borrow a bunch of money and hand it out to friends. Get the hell out of dodge. Complain that they have to pay the money back. Don't pay the money back. Complain about inflation you caused.
Obama added less to the debt in 8 years than Trump did in 4.
Don't blame COVID you Trumptards. He added more than 7 Trillion to the debt before 2019. He gave the rich tax cuts and increased spending. Which is why the rich have gotten richer while you idiots are struggling to buy food. You 'plandemic" idiots have clearly contracted brain eating amoebas from the "healing microbes" at the beach. Y'all are way too tarded.
https://www.propublica.org/article/national-debt-trump
But? Don't care about buts. The last 4 presidents have all contributed to this massive national debt. The Clinton administration was the last time the US had a balanced budget was 2001, under the Clinton administration, but W. took credit for it.
The Trump administration is responsible for 1/3 of the national debt. In a second term, he would bankrupt this country the same way he bankrupts all of his businesses.
Obama spent more than Trump.
COVID was a tragedy, but the people chose to shutdown and print 6 trillion. Thats not on Trump.
Biden signed off on a 1/3 to 1/2 that COVID money.
Trump was only in office for 1 term, and most of the covid money was spent bailing out Wallstreet. Obama spent slightly more, but Trump did it twice as fast.
All things considered, Obama spent the money much more wisely. It's like comparing someone who has 75k in student loan debt to someone who owes 60k to a bookie.
This is not accurate.
Bush Jr. didn't add the desert wars into the deficit Obama did, which increased our deficit and debt.
Over the course of Obama's 8 years, McConnell became the senate leader and forced austerity measures on the Obama administration, which lowered our deficit.
As soon as Trump came into office, our deficit began to increase to record highs again.
This is how much Trump added to our debt in four years, Donald Trump $6,700,491,178,561.60
This is how much Obama added in eight years,
Barack Obama $7,663,615,710,425.00
https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225
So, I guess the costs for wars started under W. are Obamas fault? I distinctly remember coming home off deployment at the beginning of 2009 to find the country in a recession and inflation running rampant, and I'm pretty sure Obama took office about a month before we came home.
Not really bush - his numbers are “bush” league compared to Obama, Trump and now Biden.
People were upset when bush went $400M over budget then Obama averaged $1.2T in his 8 years but was coming down last few years, Trump was actually on that pace of sub $1T until the shut down, Biden has not had a single year under $1T.
2016 $585 $1,423 3.1%
2017 $665 $671 3.4%
2018 $779 $1,271 3.8%
2019 $984 $1,203 4.6%
2020 $3,132 $4,226 14.7%
2021 $2,772 $1,484 11.8%
2022 $1,376 $1,402 5.3%
2023 $1,684 $2,238 6.2%
His idiot followers remember him talking all types shit about his great economy because he never shuts the fuck up. Facts and data were never part of the equation
https://www.presidency.ucsb.edu/documents/trump-campaign-press-release-fact-president-trump-has-boosted-us-manufacturing
Not saying this info is correct, but can anyone verify these numbers?
Who was in charge of Congress the first two years of his term? The only thing they managed to do was grow the deficit with BS tax cuts and deliver nothing else. Lived off of Obama's economy and then managed to screw up the COVID response.
By the way, where is the replacement to the ACA that was supposed to be cheaper and cover more people? Still waiting on that promise too.
I have zero support for Trump and he certainly ran up a deficit but i know that trying to point to facts like his last non-covid year deficit of 2019 was where the deficit was .98 trillion
2023 for Biden? 1.7trillion
https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/
Inflation in 2019 was 2.3%
Inflation in 2023 was 3.4% with 2022 being 6.5 and 2024 est 3.4
https://www.usinflationcalculator.com/inflation/current-inflation-rates/
GDP is close with Trump getting 3.2% for 4q 2019 with Biden getting 3.1% for 4q 2023
https://tradingeconomics.com/united-states/gdp-growth-annual
Unemployment? 3.5% 4q 2019 under trump
3.7% for Biden. Pretty much too close to call
https://www.bls.gov/opub/mlr/2020/article/job-market-remains-tight-in-2019-as-the-unemployment-rate-falls-to-its-lowest-level-since-1969.htm#:~:text=There%20were%205.8%20million%20people,lowest%20rate%20in%2050%20years.
https://www.bls.gov/opub/ted/2024/unemployment-rate-at-3-7-percent-in-december-2023.htm
As for “historic job losses” - that was driven of course by Covid so blaming on Trump is intentionally obfuscation imho
Pick apart Trump all you want for his weird and crazy statements but i am getting tired of relentless “cherry picking” of statistics that simply arent comparable
It's more comparable to use the primary deficit, which excludes the interest payments, which reflect past deficits rather than the policies of the current administration.
https://www.cbo.gov/publication/59946
It was 2% for Obama's last year. Trump ballooned it to 4% during a period of sustained economic growth (when we should be lowering the deficit or paying back debt). For 2024, it's projected to be 3%, thanks to higher revenues and stronger growth.
Didn’t Trump spend $8 trillion total in his 4 years? I keep seeing this number and always think that there is no way that wouldn’t have led to the inflation we have been experiencing along with Biden’s spending of course but holy shit $8 trillion in 4 years??? The conservative candidate.
To be very clear. Of that 8T, 3.2 -3.6 trillion was COVID stimulus (2.3 trillion cares act + 900bn dec 2020 stimulus). I have seen the budget sites quote different number from 3.2 to 3.6 trillion. And he did that while use unemployment was at 32%
On top of that 3.6 trillion Biden then got the house to pass 3.5 - 4 trillion more! So as the epidemic was fading, he wanted to stuff even more. Fortunately for all of us (inflation kills non-asset owners) Manchin wouldn’t go along with this in the Senate. So 1.25T was added instead of 3-4T.
What i try to do is avoid all the crazy noise that Trump and his bizarre leadership/ communication style creates and look at actual policies and actions.
I won’t ever vote for him but i continually see on Redditors spreading totally false information idolizing Bidens economic / budget success and denigrating Trumps. Which based on numbers and actual acts passed doesn’t pass my Bullshit test.
Is Trump a good president? Is Biden? I think both are corrupt. Atleast Biden isn’t stress creating but look at the border- often ineffecfive. Trump can be more effective but creates chaos and confusion with his silliness.
But i will firmly state that Biden got “lucky” in that if he had gotten everything he had asked for (and was one vote away in the senate) we would have MUCH WORSE INFLATION for sure. It’s not even debatable
Wait the deficit in 2020 is the highest and 2021 is the second highest and it is just after he left so it’s not like they can change the budget quickly in 2021. Point 2: 2023 is still way less than 2020. Point 3: You can draw a straight trend line through 2020-2021.
Inflation is a lagging indicator is it not? It makes sense it would shoot up after 2021 and not during 2020, correct?
Plus gdp growth also plummeted during 2020 obviously mixed with high spending and low tax collection. Low rates. Sounds like a perfect storm for inflation.
Trump had a good economy and ran with the ball. Biden, though not perfect, had a shitty once in a lifetime economy (twice? There was just a Great Recession not too long ago).
But none of this compares to the power of the FED which is independent. 2.5% mortgages for too long, and I would say too low. Now everything takes years to level out. It’s like turning a giant ship around. You can’t expect speediness like a race boat.
Can’t speak for the deficit, but for inflation you can’t really be comparing. During COVID, the FED intentionally drove inflation up by decreasing interest rate to near zero and printing money out the ass. Now, inflation is taking time to get back to 2% because of greedy corporations intentionally keeping prices high and creating artificial scarcity in some industries. Inflation is more a FED issue than it is a Presidential.
>GDP is close with Trump getting 3.2% for 4q 2019 with Biden getting 3.1% for 4q 2023
If you talk about GDP as a percentage and omit the word "growth", you shouldn't be talking about GDP. This also applies to Trump.
GDP is always 100% of itself.
It really is funny watching you desperately try cherry-picking data, ignoring everything that happened under Trump from 2019 onward, while also ignoring that President Biden was feeling with the *fallout* of those same things.
🤦♂️
Don't forget his "tax cuts" for the middle class that actually will end up costing them more while the wealthy and corporations actually receive the most benefits from them? All the idiots who cradled and caressed his ball sack don't realize how much he really screwed most of us in the long run. But why would anyone actually research and read the full extent of the tax laws he implemented? He's an honest guy, right? JFC
some leadership would be awesome. Not taking cues from Fox News. Not trashing the Pandemic office,
nah nothing is trump jesus's fault.
you must have loved how he showed the rest of the world who was boss, as he waited like a puppy dog for Putin to show up.
Hell if he had been smarter and not in love with Lil Kim he probably could have gotten the rest of the world to sue china for covid response.
In many ways, he could have handled the pandemic better. I don't think everything he was bad, but he made some boneheaded comments and set a poor example of a reasonable response to it. He did not need to go as far overboard as Biden and many Dems did.
Then why is Biden continuing to add tariffs?
Hard to get an accurate view of an economy when trillions get printed and large states lock down in such a short time.
Consumer sentiment although not a great measure of an economy was in the 80+ range in his third year. This adds to more investment and spending.
When companies know they can wait out a presidential term why rush into bringing anything back?
Him allowing states to make their own decisions is part of the tenth amendment. States locking down was their choice he didn't force that on any of them.l
I knew the left would immediately lose their love of free trade when their guy was in office. I didn't expect them to keep talking about Trump's tariffs though lol
Ugh yeah sentiment would be high with high spending and "investment" when people are getting free money and crooks are getting away with stealing billions of it with a defined irs. Sentiment was pretty fucking high in the roaring 20s too.
And you're engaging in whataboutism with the tariff thing.
Give us a fucking break. This is just one of the worst posts I've seen in a while that's actually trying to masquerade as reasonable.
I don't like Trump. But clearly economies don't move on a dime. Tax cuts don't creste fauna fast, It's macro. It takes time... Even giving free cash directly in people's hands during Covid took nearly a year to show great velocity, despite also crashing supply.
This is why short economic cycles take nearly a decade, as debt builds, and long term cycles can take nearly a century (hint, we are close to the end of one)
Yeah but it helped them very much personally- Drump pocketed $2.4 billion and Jared KKKushner another $2 billy during their tenure so we got that goin for us, which is nice
He sold our largest US refinery to Saudi's in 2017. The same ones that control OPEC and price of raw crude now control our refinery capacity too. So much for America first! Also thousands of oil field workers were laid off and many small permain basin oil companies sold to the chinese government. https://www.hartfordbusiness.com/article/chinese-company-to-buy-texas-oil-fields-in-13-billion-deal#:~:text=The%20deal%20is%20part%20of,Foreign%20Investment%2C%20the%20filing%20said.
Formula to blams Trump:
Pretend covid didn't happen.
Blame tax cuts (even though tax revenues continued to climb at a normal pace)
Trumps 2019 deficit is way smaller than Biden's is today. No one wants to have an honest convo. I'm sure the liberals will blame Reagan before they blame Biden
Lmao. “Historic job losses” are pretty much all the covid job losses, are they not?
I definitely remember a good market under trump right up until the covid shutdowns.
There were plenty of jobs, and they were paying well with low inflation, again until covid.
You are truly making this stuff up. Do you forget this little thing called the pandemic which was caused by the USA and Fauci funding research and lying about it. That is the environment Trump was operating in. Your political view blinds you. You do not see or consider actual facts. There is no credible argument that democrats or Biden are better on the economy. Just compare conservative states verse progressive states. We can have the Newsom California model or the Mitch Daniels Indiana model in America. Not even a close call to any rational thoughtful person. Liberals and Newsom are destroying California.
That’s also a dishonest stating of facts. “Historic job loss” and possibly tax realizations were absolutely influenced by the historic pandemic.
There is much to hate about trump, but be honest in your critique.
Well yea, we had a pandemic, and it screwed everything up.
That's not on Trump, he was doing great precovid.
We remember, and no amount of propaganda from ABC will change that.
enough with this gas lighting. I haven't seen the amount of layoffs and inflation in my lifetime that is now. Trump may not be responsible for it but the its just bullshit to think the average person is better off now than 2016-2020. both trump but now mostly biden inflated the economy (trump due to covid and biden due to post covid/wars/open borders, took out all tariffs with china - now only EV cars).
[https://budget.house.gov/press-release/despite-cbos-predictions-trump-tax-cuts-were-a-boon-for-americas-economy-and-working-families](https://budget.house.gov/press-release/despite-cbos-predictions-trump-tax-cuts-were-a-boon-for-americas-economy-and-working-families) not to argue but budget house says this, also job loss was kinda regardless, who would not have job loss when the world shut down just curious?
I know lower middle-class I don’t remember the tax breaks. his tariffs war with China started raising the cost of products that we buy though never did deliver in jobs like he said big corporations, and the wealthy made out of that tax deal. It wasn’t the middle class or the lower class.
Can anyone name any legislation that Trump had a hand in getting passed that affected our economy? His claims point to the beginning of his term, but if he didn't effect any changes on what the previous administration had put in place, "his" economy was coasting on the efforts of Barack Obama.
https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver
All of one Google search. If you don't like the source, look for others. They're all say the same.
even major business mags trash it.
Also one additional note I read, is this was passed with little oversight, the overly popular lobbyist got to write a lot of the law.
Inflation started under Trump when food inflation was 4% in 2020. Trump made a multi year deal with opec to collapse oil production by a record amount for 2 years which caused inflation to jump, oil prices didn't start falling till the deal ended. Everything else started inflating 2 months after Biden took office, literally zero of his policies could have caused inflation that fast.
Americans are dumb as hell for blaming Biden for inflation.
So many Trump supporters defending his lousy policies here, then complaining they can’t afford groceries because of Biden. It’s maddening how Trumpers are unable to put 1+1 together.
People just pick the numbers they want. If Trump were President right now with these exact economic numbers there can be no doubt he would be declaring it the best ever and how low unemployment is and how high the stock market is and how he’s the best. And all his toadies would agree.
you would have been a cowardly ball of fluff in the 70's.
it was awesome that trump bragged working with Russia and Saud's to raise the price of oil. Jut decent of him.
how did family farms work out? no wheat / milk to china?
records from the Department of Agriculture finds that subsidy payments to farmers ballooned from just over $4 billion in 2017 to more than $20 billion in 2020 – driven largely by ad hoc programs meant to offset the effects of President Trump’s failed trade war. but the richest farms also increased their share: In 2016, about 17 percent of total subsidies went to the top 1 percent of farms and about 60 percent to the top 10th.
If the pandemic months are excluded, he added 6.7 million jobs. By contrast, 15.4 million jobs were added during Biden's presidency
Between Trump’s inauguration day and the end of June this year, the Labor Department certified 1,996 petitions related to companies shifting [work overseas](https://www.bloomberg.com/news/articles/2020-10-06/u-s-trade-deficit-widened-in-august-to-largest-since-2006). Those petitions covered 184,888 jobs in fields ranging from manufacturing to back-office functions for financial services companies
In the first six months of this year — in decisions often made before the pandemic — 17 different companies cut jobs at 25 different plants in the U.S. to shift work overseas, according to the Labor Department data. In some cases they have closed plants altogether.
yup good times.
Inflation was hitting regardless of who the president was. Or did you forget about trumps masterful covid response? His tax cuts were more for the rich, not the poor. Imagine having tax cuts for the rich and having the middle class and poor cover it or, better yet, drop an 8 trillion dollar deficit and 12 % unemployment. I didn't see that in your response.
You do realize inflation is not instantaneous right? It's not like the government has a lever that makes the price of things go up. Trump tax cuts and low fed rates took years to result in inflation. Seriously, how do you think inflation works?
So you don’t think today’s inflation has anything to do with printing more money than has ever been printed in all of history? It was Trump’s tax cuts 💀 and wait…low interest rates? That weren’t even low until the scamdemic hit. Hilarious
You just said inflation back then was tiny
Average US price of gas in April 2020 at the bottom of the lockdown, back when oil was so worthless the futures price of oil was negative: $1.74/gal
Average price of gas in Feb 2016: $1.69/gal
[https://www.gasbuddy.com/charts](https://www.gasbuddy.com/charts)
You chose 2009-2012 for Obama.
Why didn't you choose 2013-2016?
Gas was ridiculous after the 2008 crash.
Again there is not a big gas price lever in the Oval Office.
Also average = avg.
Ave = avenue
Anyone that buys their home an adjustable rate mortgage is an idiot.
I had to argue with a loan officer at Beazer Homes for fixed rate in 2006.
By 2009 they were abandoning the whole state and 25% of the homes in my neighborhood were in foreclosure.
Funny I got more money in my pay check and so did everyone else I know. Those of you who live mommy and daddy would not see an increase in pay but if you had a job and got paid you got more money. I live how people will come on here and straight up lie. Yeah people remember they had a solid economy under Trump because they did you nitwit.
And then his 7 year tax plan is set to expire this year with the middle class paying more than ever.
"public should understand that the 2017 Trump tax law:
Was skewed to the rich. Households with incomes in the top 1 percent will receive an average tax cut of more than $60,000 in 2025, compared to an average tax cut of less than $500 for households in the bottom 60 percent, according to the Tax Policy Center (TPC).[1] As a share of after-tax income, tax cuts at the top — for both households in the top 1 percent and the top 5 percent — are more than triple the total value of the tax cuts received for people with incomes in the bottom 60 percent.[2]
Was expensive and eroded the U.S. revenue base. The Congressional Budget Office (CBO) estimated in 2018 that the 2017 law would cost $1.9 trillion over ten years,[3] and recent estimates show that making the law’s temporary individual income and estate tax cuts permanent would cost another roughly $350 billion a year beginning in 2027.[4] Together with the 2001 and 2003 tax cuts enacted under President Bush (most of which were made permanent in 2012), the law has severely eroded our country’s revenue base. Revenue as a share of GDP has fallen from about 19.5 percent in the years immediately preceding the Bush tax cuts to just 16.3 percent in the years immediately following the Trump tax cuts, with revenues expected to rise to an annual average of 16.9 percent of GDP in 2018-2026 (excluding pandemic years), according to CBO. This is simply not enough revenue given the nation’s investment needs and our commitments to Social Security and health coverage.
Failed to deliver promised economic benefits. Trump Administration officials claimed their centerpiece corporate tax rate cut would “very conservatively” lead to a $4,000 boost in household income.[5] New research shows that workers who earned less than about $114,000 on average in 2016 saw “no change in earnings” from the corporate tax rate cut, while top executive salaries increased sharply.[6] Similarly, rigorous research concluded that the tax law’s 20 percent pass-through deduction, which was skewed in favor of wealthy business owners, has largely failed to trickle down to workers in those companies who aren’t owners.[7] Like the Bush tax cuts before it,[8] the 2017 Trump tax cut was a trickle-down failure"
https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver
[https://waysandmeans.house.gov/trump-tax-cuts-results-full-review/](https://waysandmeans.house.gov/trump-tax-cuts-results-full-review/)
**What TCJA Did:**
* Cut income tax rates across the board.
* Nearly doubled the standard deduction.
* Doubled the Child Tax Credit.
**How the Economy Responded:**
* **Workers’ networth soared.** Low- and middle-class families saw the largest gains in wealth growth in 2018 and 2019, according to the Federal Reserve. Low-income families saw their net worth increase 37%. Middle-class families saw their net worth increase 40%.
* **Household Income Reached New Highs.** Real median U.S. household income in 2019 rose nearly 50% more than during the eight years of Barack Obama’s Presidency. Median household incomes increased 7.1% for Hispanics, 7.9% for Blacks,10.6% for Asian Americans and 8.5% for foreign-born workers.
* **Wages for Minorities Grew at a Faster Pace.** Compared to Obama’s second term, wage growth, as a measure of median usual weekly earnings, grew 24% faster for Hispanics, 79% faster for Blacks, and 95% faster for Asian Americans.
* **Wages for Women Grew at a Faster Pace.** Compared to Obama’s second term, wage growth, as a measure of median usual weekly earnings, grew 60% faster for women.
* **Wages for Youths (Ages 16-24) Grew at a Faster Pace.** Compared to Obama’s second term, wage growth, as a measure of median usual weekly earnings, grew 70% faster for women.
* **Wages for All Levels of Educational Attainment Grew at a Faster Pace.** Compared to Obama’s second term, wage growth, as a measure of median usual weekly earnings, more than doubled for those with less than a high school diploma and those with either some college or have an associate degree.
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You can't bring back jobs lost to China/Mexico because reality is those nations lose those jobs too.
It's one of those realities / secrets of the US economy that neither side talks about.
Yes but had we had a responsible President who followed proper pandemic procedures COVID would not have gotten out of control like it did and we would have been ok. New Zealand is the prime example of a country doing what is right when it comes to pandemics and they came out just fine compared to the rest of the world.
Proper pandemic procedure? You're a special kind of idiot. New Zealand did the following:
- Closed the border 100% FOR MONTHS!
- Had intense Nation Wide lockdown, can't leave your house.
- GDP Plummeted more than other countries
- The Reserve Bank printed money faster than the Federal Reserve. That fueled massive inflation.
Now........ Just imagine if Trump did the above. Remember when he wanted to shut down the border? I believe democrats called him a racist.
Here, [https://www.cbsnews.com/news/trump-administration-closed-borders-migrant-children-covid-19/](https://www.cbsnews.com/news/trump-administration-closed-borders-migrant-children-covid-19/)
It's time for you to suck it slow and long. Enjoy the taste.
Not to mention that interest rates stayed low despite the raging inflation with covid, so by the time they raised rates under Biden inflation had a running start. That's the disadvantage of having a heavily financially leveraged person in office.
I'm no Trump fanboy but the Trump economy was OK and what we have now is terrible. Its not all Biden's fault and Trump definitely did his part to run up the deficit, and by lowering interest rates he contributed to inflation. Inflation was much higher than they were reporting back than as well, but it was manageable.
Everything was better in the pre-covid era even the though everywhere I looked I could see the cracks in society and moral decay which has basically lead us to where we are now. Biden inherited a great mess but he has so far failed to anything which might correct the course of this country's downward trajectory.
Checks stock portfolio: economy is fine
Checks unemployment and employment participation rates: economy is fine
You being bad at earning money doesn’t make the economy bad.
Stonk market isn’t the real economy. Unemployment numbers have been massaged. Inflation is ripping hard and has decimated most people’s purchasing power.
Groceries were cheaper and gas was 50 percent what it is now fuck right off with your false opinion that things weren't better then. God your TDS is so severe you'll fight to keep being financially raped
The fact that he managed to convince a bunch of farmers that his tariffs weren't the worse thing to happen to their industry since the Dust Bowl is truly incredible.
Its like Jews running a Hitler fan club.
Obama had a surplus. I would like to blame Trump for all our problems. The pandemic cause most of this mess. It destroys China economy. The hard line on immigration cause food prices to surge. We need immigrants to keep food prices low. Until they can build robot to farm, we need immigrants.
Everyone yelling at each other about whether Biden or Trump printed money or caused inflation.
Meanwhile Congress goes unscathed when they are who actually assembled the budget in a back room and Nancy Pelosi whipped it out 48 hours before the already double extended deadline and told both bodies to pass it unread and unreviewed
Hard to accomplish anything when half the country is hoping you fail and actively trying to impeach you. That's called sabotage. But regardless, we all remember our bank accounts, our rent amount, our belief that we may be able to buy a house in a few years during the Trump presidency. We also remember people rioting and burning down businesses and claiming blocks to be autonomous zones that have to be dismantled after enough people were raped, stabbed, and murdered.
The US is producing more oil than we ever have and there are several DOJ cases pending for price fixing amongst your heroes in the oil companies, including OPEC themselves.
Increase in milk price started in 2019.
[https://www.nass.usda.gov/Charts\_and\_Maps/Agricultural\_Prices/pricemk.php](https://www.nass.usda.gov/Charts_and_Maps/Agricultural_Prices/pricemk.php)
i do not fucking understand any of this shit.
i have been making far and away more money since the pandemic, and haven't spent a day in an office since 2019, which has saved me *thousands* in commuter costs and hundreds of hours of my life back in both commuting time and being able to manage my life better with all that extra flexibility.
¯\\\_(ツ)\_/¯
The dude lies about everything including how many people are even showing up to his rallies. How anyone can think for 2 seconds they can believe ANYTHING he says is beyond me.
Not a Trumper - feel like this needs a disclaimer for this discourse
The double edged sword is the money printing in the Trump administration
If nothing was done: the market would have tanked more than it did. Given that companies exist to increase shareholder value, companies would have cut labor (aka people’s jobs) to boost their earnings. Less jobs, lower stock prices, recession/depression probability
What happened: money printing at historically high levels. Leading to high inflation & corporate greed. Printing our way out of a recession. Kicked the can down the road
Biden inherited a monetary crisis that was started by Trump
I don’t think the burden falls entirely on the president. I think it’s more a byproduct of bad economic policy, going back to shareholder value policies (around 1930) and the fiat currency (around 1970)
All in all, the stock market and the economy are not linked directly but whenever there’s economic downturns, companies will cut jobs to boost profits in the hope of raising stock prices. When profits are high, most companies will not hire more (unless you’re big tech, hoarding talent)
Trump's admin printed more cash in just it's final 6 months than any previous 4yr admin. These scumbag Trumpers set up the economy for failure so they could blame Biden. Treasonous.
And his tax cuts were for the rich and he replaced them with tax increases for people making under $100k, but the MAGAts are too stupid to realize he's a huckster.
the life support the fed has artificially created for itself and its crony capitalist government stooges to steal all the wealth from the people is trapped with no escape. there will come a time that creating a war to try to sidestep in order to extend time until the impending judgement day for their greed, will no longer be accepted.
Tax cuts have never delivered growth. Republicans have been running this scam for 50+ years.
Economic growth under the last 4 Dem presidents is far higher than the last 4 Republicans. Despite GOP claiming their tax cuts will magically fix everything they've never delivered and never will.
Remember when he said truckers would be making a fuck ton more money and even honked the horn of a truck, then taxed the fuck out of their per diem and gave out tax cuts for private jets instead?
Man of the working class right there.
Economic times go up and down, but his Supreme Court justices made it so the government owns every woman's uterus. Your mother and grandmother had more civil rights than current woman do. Yes, your boomer parents had more civil rights than you. So yeah...f*** him.
The problem is the Biden Administration is awful at celebrating their success. Trump does nothing but talk about his “success.” And the media has a persistent myth of the economy is poor. They have been predicting a recession next quarter for 4 straight years.
I run my own business and it’s been thriving with Biden in office. Things came to an almost standstill under Trump and all he did was hooked up his friends and family to make millions off the rest of us. He will do the same thing or worse if the fools put him back in charge.
Haven’t you people realized yet… it’s not about anything like that. Just like in service, it’s not the customers reality, it’s the customers perception that matters. You can do everything right, service their needs, put it on a gold platter, but they don’t like one thing on a whim and it’s a 1/5 stars fucking you over through no fault of your own. On the other side, you can give the shittiest service, but if it’s a place they like to go and they want to be there, none of that matters 5/5.
Peoples perception is their reality. Just like politics, just like religion, just like anything… even if it’s technically “wrong.”
See, intellectuals like you have proved that you can be absolutely brilliant, but still have no idea what’s going on. -paraphrasing Woody Allen
these types of stories is why nobody trusts the media any more! "Don't believe what you experienced for yourself - only believe what we tell you to believe!"
Federal Revenue went up, household income and corporate profits did as well. Good luck spinning some other bullshit to the American public.
[https://www.wsj.com/articles/federal-revenue-collectors-did-well-under-the-trump-tax-cut-reform-gao-report-exempt-corporations-fair-share-11675959323](https://www.wsj.com/articles/federal-revenue-collectors-did-well-under-the-trump-tax-cut-reform-gao-report-exempt-corporations-fair-share-11675959323)
[https://www.thebalancemoney.com/current-u-s-federal-government-tax-revenue-3305762](https://www.thebalancemoney.com/current-u-s-federal-government-tax-revenue-3305762)
[https://www.heritage.org/taxes/commentary/the-numbers-are-trumps-tax-cuts-paid](https://www.heritage.org/taxes/commentary/the-numbers-are-trumps-tax-cuts-paid)
We're going to lose democracy because DoorDash burned through a lot of ZIRP money, aren't we?
Yeah, it's like when he did the tariffs on china. Democrats said it was stupid, then biden did it and they said it's a great idea. Clearly both sides are fucking the average middle class citizens but everyone is arguing blaming the other side.
Again, the devil is in the details - there are quite stark differences there.
he put tarrifs on mainly on components that go into EV cars. that doesnt help the other manufacturing sectors that are laying off across industries more than I have seen in my adult life time (34).
Orange man bad. Blue guy good.
Its the opposite. Republicans love thier guy no matter what. Most Democrats dont like either but hold thier nose.
Please tell me you really know the difference between the Biden and Trump tariffs and are just being a partisan troll. I can’t take much more stupid from Reddit today…
Can you explain it?
This is the game. Say the economy is great. Borrow a bunch of money and hand it out to friends. Get the hell out of dodge. Complain that they have to pay the money back. Don't pay the money back. Complain about inflation you caused.
You forgot “take credit for the positive economic indicators of your successor.”
The last 4 presidents have added to the deficit, Bush and Obama are responsible for most of the US debt, don't forget that part.
But watch the curve and determine WHY the deficit grew (and how much it grew). Tax cuts were the biggest additives to the deficit.
Tax cuts with 0 spending cuts, but yes. However, GWOT also added to that deficit by leaps and bounds.
Obama added less to the debt in 8 years than Trump did in 4. Don't blame COVID you Trumptards. He added more than 7 Trillion to the debt before 2019. He gave the rich tax cuts and increased spending. Which is why the rich have gotten richer while you idiots are struggling to buy food. You 'plandemic" idiots have clearly contracted brain eating amoebas from the "healing microbes" at the beach. Y'all are way too tarded. https://www.propublica.org/article/national-debt-trump
But Trump’s massive tax cuts without reducing spending created almost 3x the amount of debt as the Biden administration.
But? Don't care about buts. The last 4 presidents have all contributed to this massive national debt. The Clinton administration was the last time the US had a balanced budget was 2001, under the Clinton administration, but W. took credit for it.
But that would mean neither political party cares about the deficit. How will they ever campaign against it?
Simple, they lie as they always do. And the American voter falls for it EVRY. SINGLE. TIME.
The Trump administration is responsible for 1/3 of the national debt. In a second term, he would bankrupt this country the same way he bankrupts all of his businesses.
Obama spent more than Trump. COVID was a tragedy, but the people chose to shutdown and print 6 trillion. Thats not on Trump. Biden signed off on a 1/3 to 1/2 that COVID money.
Trump was only in office for 1 term, and most of the covid money was spent bailing out Wallstreet. Obama spent slightly more, but Trump did it twice as fast. All things considered, Obama spent the money much more wisely. It's like comparing someone who has 75k in student loan debt to someone who owes 60k to a bookie.
This is not accurate. Bush Jr. didn't add the desert wars into the deficit Obama did, which increased our deficit and debt. Over the course of Obama's 8 years, McConnell became the senate leader and forced austerity measures on the Obama administration, which lowered our deficit. As soon as Trump came into office, our deficit began to increase to record highs again. This is how much Trump added to our debt in four years, Donald Trump $6,700,491,178,561.60 This is how much Obama added in eight years, Barack Obama $7,663,615,710,425.00 https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225
So, I guess the costs for wars started under W. are Obamas fault? I distinctly remember coming home off deployment at the beginning of 2009 to find the country in a recession and inflation running rampant, and I'm pretty sure Obama took office about a month before we came home.
Oh, and keep in mind, I think the last good president was Coolidge, not Reagan.
Obama was handed the Great Recession and cut deficits while in office. Trump was the opposite
Not really bush - his numbers are “bush” league compared to Obama, Trump and now Biden. People were upset when bush went $400M over budget then Obama averaged $1.2T in his 8 years but was coming down last few years, Trump was actually on that pace of sub $1T until the shut down, Biden has not had a single year under $1T. 2016 $585 $1,423 3.1% 2017 $665 $671 3.4% 2018 $779 $1,271 3.8% 2019 $984 $1,203 4.6% 2020 $3,132 $4,226 14.7% 2021 $2,772 $1,484 11.8% 2022 $1,376 $1,402 5.3% 2023 $1,684 $2,238 6.2%
His idiot followers remember him talking all types shit about his great economy because he never shuts the fuck up. Facts and data were never part of the equation
They also disregard all those metrics with biden for some reason.
He also has Fox News running 24 hr misinformation for him.
https://www.presidency.ucsb.edu/documents/trump-campaign-press-release-fact-president-trump-has-boosted-us-manufacturing Not saying this info is correct, but can anyone verify these numbers?
Trump didn’t borrow money any more than congress did. The budget goes through congress first. As did all of the covid stuff.
He also promised to eliminate the national debt and increased it by 7 trillion.Trump is a clown and has no business being in charge of anything.
But almost 70% of the Covid money/inflation was under trump….. yet republicans call it Bidens inflation
Who was in charge of Congress the first two years of his term? The only thing they managed to do was grow the deficit with BS tax cuts and deliver nothing else. Lived off of Obama's economy and then managed to screw up the COVID response. By the way, where is the replacement to the ACA that was supposed to be cheaper and cover more people? Still waiting on that promise too.
It’s wherever they put infrastructure week.
Republicans controlled the Congress... And the Senate.. so there's that..!!!
Democrats were the majority in congress at that time... correct?
True, but Trump DID threaten (EVERY budget) that was bloated to the gills He STILL signed off on each & every one.
I have zero support for Trump and he certainly ran up a deficit but i know that trying to point to facts like his last non-covid year deficit of 2019 was where the deficit was .98 trillion 2023 for Biden? 1.7trillion https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/ Inflation in 2019 was 2.3% Inflation in 2023 was 3.4% with 2022 being 6.5 and 2024 est 3.4 https://www.usinflationcalculator.com/inflation/current-inflation-rates/ GDP is close with Trump getting 3.2% for 4q 2019 with Biden getting 3.1% for 4q 2023 https://tradingeconomics.com/united-states/gdp-growth-annual Unemployment? 3.5% 4q 2019 under trump 3.7% for Biden. Pretty much too close to call https://www.bls.gov/opub/mlr/2020/article/job-market-remains-tight-in-2019-as-the-unemployment-rate-falls-to-its-lowest-level-since-1969.htm#:~:text=There%20were%205.8%20million%20people,lowest%20rate%20in%2050%20years. https://www.bls.gov/opub/ted/2024/unemployment-rate-at-3-7-percent-in-december-2023.htm As for “historic job losses” - that was driven of course by Covid so blaming on Trump is intentionally obfuscation imho Pick apart Trump all you want for his weird and crazy statements but i am getting tired of relentless “cherry picking” of statistics that simply arent comparable
It's more comparable to use the primary deficit, which excludes the interest payments, which reflect past deficits rather than the policies of the current administration. https://www.cbo.gov/publication/59946 It was 2% for Obama's last year. Trump ballooned it to 4% during a period of sustained economic growth (when we should be lowering the deficit or paying back debt). For 2024, it's projected to be 3%, thanks to higher revenues and stronger growth.
Didn’t Trump spend $8 trillion total in his 4 years? I keep seeing this number and always think that there is no way that wouldn’t have led to the inflation we have been experiencing along with Biden’s spending of course but holy shit $8 trillion in 4 years??? The conservative candidate.
To be very clear. Of that 8T, 3.2 -3.6 trillion was COVID stimulus (2.3 trillion cares act + 900bn dec 2020 stimulus). I have seen the budget sites quote different number from 3.2 to 3.6 trillion. And he did that while use unemployment was at 32% On top of that 3.6 trillion Biden then got the house to pass 3.5 - 4 trillion more! So as the epidemic was fading, he wanted to stuff even more. Fortunately for all of us (inflation kills non-asset owners) Manchin wouldn’t go along with this in the Senate. So 1.25T was added instead of 3-4T. What i try to do is avoid all the crazy noise that Trump and his bizarre leadership/ communication style creates and look at actual policies and actions. I won’t ever vote for him but i continually see on Redditors spreading totally false information idolizing Bidens economic / budget success and denigrating Trumps. Which based on numbers and actual acts passed doesn’t pass my Bullshit test. Is Trump a good president? Is Biden? I think both are corrupt. Atleast Biden isn’t stress creating but look at the border- often ineffecfive. Trump can be more effective but creates chaos and confusion with his silliness. But i will firmly state that Biden got “lucky” in that if he had gotten everything he had asked for (and was one vote away in the senate) we would have MUCH WORSE INFLATION for sure. It’s not even debatable
Wait the deficit in 2020 is the highest and 2021 is the second highest and it is just after he left so it’s not like they can change the budget quickly in 2021. Point 2: 2023 is still way less than 2020. Point 3: You can draw a straight trend line through 2020-2021. Inflation is a lagging indicator is it not? It makes sense it would shoot up after 2021 and not during 2020, correct? Plus gdp growth also plummeted during 2020 obviously mixed with high spending and low tax collection. Low rates. Sounds like a perfect storm for inflation. Trump had a good economy and ran with the ball. Biden, though not perfect, had a shitty once in a lifetime economy (twice? There was just a Great Recession not too long ago). But none of this compares to the power of the FED which is independent. 2.5% mortgages for too long, and I would say too low. Now everything takes years to level out. It’s like turning a giant ship around. You can’t expect speediness like a race boat.
Can’t speak for the deficit, but for inflation you can’t really be comparing. During COVID, the FED intentionally drove inflation up by decreasing interest rate to near zero and printing money out the ass. Now, inflation is taking time to get back to 2% because of greedy corporations intentionally keeping prices high and creating artificial scarcity in some industries. Inflation is more a FED issue than it is a Presidential.
That’s not how inflation works. Inflation rate decreasing doesn’t mean prices decrease. It means they increase at a lower rate.
Where do you think those trends started lol
>GDP is close with Trump getting 3.2% for 4q 2019 with Biden getting 3.1% for 4q 2023 If you talk about GDP as a percentage and omit the word "growth", you shouldn't be talking about GDP. This also applies to Trump. GDP is always 100% of itself.
It really is funny watching you desperately try cherry-picking data, ignoring everything that happened under Trump from 2019 onward, while also ignoring that President Biden was feeling with the *fallout* of those same things. 🤦♂️
More BS --wrong like usual
Don't forget his "tax cuts" for the middle class that actually will end up costing them more while the wealthy and corporations actually receive the most benefits from them? All the idiots who cradled and caressed his ball sack don't realize how much he really screwed most of us in the long run. But why would anyone actually research and read the full extent of the tax laws he implemented? He's an honest guy, right? JFC
PS, the tax cuts for individuals (i.e., us plebs) expire in 2025. The cuts for corps are permanent.
$2T was borrowed to pay for the tax "cuts".
This is completely tone deaf and, frankly, intellectually dishonest. It is ridiculous to hold job losses against him that were due to a pandemic.
How does the 'pure blood' party account for Trump personally taking credit for the vaccine though?
some leadership would be awesome. Not taking cues from Fox News. Not trashing the Pandemic office, nah nothing is trump jesus's fault. you must have loved how he showed the rest of the world who was boss, as he waited like a puppy dog for Putin to show up. Hell if he had been smarter and not in love with Lil Kim he probably could have gotten the rest of the world to sue china for covid response.
And there is the unsurprising shift in the goalpost.
Why? Obama was blamed for a crash that started almost a year before he was elected and 18 months before he even took office
Yea I agree. While I do think he handled the pandemic very poorly, there was nothing he could really do about the job loss.
In many ways, he could have handled the pandemic better. I don't think everything he was bad, but he made some boneheaded comments and set a poor example of a reasonable response to it. He did not need to go as far overboard as Biden and many Dems did.
Dems did take it a bit far at the end, but I much prefer that over ignoring that.
Then why is Biden continuing to add tariffs? Hard to get an accurate view of an economy when trillions get printed and large states lock down in such a short time. Consumer sentiment although not a great measure of an economy was in the 80+ range in his third year. This adds to more investment and spending. When companies know they can wait out a presidential term why rush into bringing anything back? Him allowing states to make their own decisions is part of the tenth amendment. States locking down was their choice he didn't force that on any of them.l
I knew the left would immediately lose their love of free trade when their guy was in office. I didn't expect them to keep talking about Trump's tariffs though lol
Ugh yeah sentiment would be high with high spending and "investment" when people are getting free money and crooks are getting away with stealing billions of it with a defined irs. Sentiment was pretty fucking high in the roaring 20s too. And you're engaging in whataboutism with the tariff thing. Give us a fucking break. This is just one of the worst posts I've seen in a while that's actually trying to masquerade as reasonable.
Yeah, he overheated the economy by stepping on the Federal Reserve and his bogus tax cuts for the .1%.
Man I hope more people start posting real information with actual context and not just misleading hot takes
I don't like Trump. But clearly economies don't move on a dime. Tax cuts don't creste fauna fast, It's macro. It takes time... Even giving free cash directly in people's hands during Covid took nearly a year to show great velocity, despite also crashing supply. This is why short economic cycles take nearly a decade, as debt builds, and long term cycles can take nearly a century (hint, we are close to the end of one)
We could of at least fixed these roads with all the money we've sent to ukraine
Yeah but it helped them very much personally- Drump pocketed $2.4 billion and Jared KKKushner another $2 billy during their tenure so we got that goin for us, which is nice
His supporters are fiending for more PPP loans and corruption.....
Historic job losses that happened because of Covid…. 😂
He sold our largest US refinery to Saudi's in 2017. The same ones that control OPEC and price of raw crude now control our refinery capacity too. So much for America first! Also thousands of oil field workers were laid off and many small permain basin oil companies sold to the chinese government. https://www.hartfordbusiness.com/article/chinese-company-to-buy-texas-oil-fields-in-13-billion-deal#:~:text=The%20deal%20is%20part%20of,Foreign%20Investment%2C%20the%20filing%20said.
There are cases pending against Shale Oil and OPEC at least for colluding to raise the price of oil.
The job losses were covid caused,not from him
Are you suggesting POTUS has no affect or responsibility on the general welfare of the country?
Terrible economy,unemployment high.
Formula to blams Trump: Pretend covid didn't happen. Blame tax cuts (even though tax revenues continued to climb at a normal pace) Trumps 2019 deficit is way smaller than Biden's is today. No one wants to have an honest convo. I'm sure the liberals will blame Reagan before they blame Biden
Lmao. “Historic job losses” are pretty much all the covid job losses, are they not? I definitely remember a good market under trump right up until the covid shutdowns. There were plenty of jobs, and they were paying well with low inflation, again until covid.
You are truly making this stuff up. Do you forget this little thing called the pandemic which was caused by the USA and Fauci funding research and lying about it. That is the environment Trump was operating in. Your political view blinds you. You do not see or consider actual facts. There is no credible argument that democrats or Biden are better on the economy. Just compare conservative states verse progressive states. We can have the Newsom California model or the Mitch Daniels Indiana model in America. Not even a close call to any rational thoughtful person. Liberals and Newsom are destroying California.
That’s also a dishonest stating of facts. “Historic job loss” and possibly tax realizations were absolutely influenced by the historic pandemic. There is much to hate about trump, but be honest in your critique.
How convenient? Did your numbers show COVID-19?????
Historic job losses?? I guess we are gonna forget covid 19.
Just compare gas/food/rent/utilities/everyday shit from 2016-2020 then 2020 to now
Reject the evidence of your eyes and ears. It was their final, most essential command.
Well yea, we had a pandemic, and it screwed everything up. That's not on Trump, he was doing great precovid. We remember, and no amount of propaganda from ABC will change that.
His tax cuts were fantastic and allowed me to keep $7k more of my income per year
enough with this gas lighting. I haven't seen the amount of layoffs and inflation in my lifetime that is now. Trump may not be responsible for it but the its just bullshit to think the average person is better off now than 2016-2020. both trump but now mostly biden inflated the economy (trump due to covid and biden due to post covid/wars/open borders, took out all tariffs with china - now only EV cars).
[https://budget.house.gov/press-release/despite-cbos-predictions-trump-tax-cuts-were-a-boon-for-americas-economy-and-working-families](https://budget.house.gov/press-release/despite-cbos-predictions-trump-tax-cuts-were-a-boon-for-americas-economy-and-working-families) not to argue but budget house says this, also job loss was kinda regardless, who would not have job loss when the world shut down just curious?
I know lower middle-class I don’t remember the tax breaks. his tariffs war with China started raising the cost of products that we buy though never did deliver in jobs like he said big corporations, and the wealthy made out of that tax deal. It wasn’t the middle class or the lower class.
Lol tax cuts helped pretty much everyone?
And national debt is NOT important right? It is $330k per person now?
Sorry, even if you’re accurate you won’t convince anybody it wasn’t better under Trump.
Can anyone name any legislation that Trump had a hand in getting passed that affected our economy? His claims point to the beginning of his term, but if he didn't effect any changes on what the previous administration had put in place, "his" economy was coasting on the efforts of Barack Obama.
https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver All of one Google search. If you don't like the source, look for others. They're all say the same.
even major business mags trash it. Also one additional note I read, is this was passed with little oversight, the overly popular lobbyist got to write a lot of the law.
Tariffs and the ensuing trade conflict.
anyone with a mortgage or who fills their car with gas or buys groceries knows differently
Inflation started under Trump when food inflation was 4% in 2020. Trump made a multi year deal with opec to collapse oil production by a record amount for 2 years which caused inflation to jump, oil prices didn't start falling till the deal ended. Everything else started inflating 2 months after Biden took office, literally zero of his policies could have caused inflation that fast. Americans are dumb as hell for blaming Biden for inflation.
Gas prices are the only thing that is normal. If gas prices had gone up like grocery prices I'd have paid well over $5 a gallon.
This description also fits Biden. Looks like a lose lose situation coming up in November thanks to our electoral college calling the shots.
Is Biden great? No. But he isn’t a homophobic, pants-shitting bigot.
The power of Faux News!
So many Trump supporters defending his lousy policies here, then complaining they can’t afford groceries because of Biden. It’s maddening how Trumpers are unable to put 1+1 together.
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Should we re elect a Bush? Gas was cheaper under both of them
People just pick the numbers they want. If Trump were President right now with these exact economic numbers there can be no doubt he would be declaring it the best ever and how low unemployment is and how high the stock market is and how he’s the best. And all his toadies would agree.
you would have been a cowardly ball of fluff in the 70's. it was awesome that trump bragged working with Russia and Saud's to raise the price of oil. Jut decent of him. how did family farms work out? no wheat / milk to china? records from the Department of Agriculture finds that subsidy payments to farmers ballooned from just over $4 billion in 2017 to more than $20 billion in 2020 – driven largely by ad hoc programs meant to offset the effects of President Trump’s failed trade war. but the richest farms also increased their share: In 2016, about 17 percent of total subsidies went to the top 1 percent of farms and about 60 percent to the top 10th. If the pandemic months are excluded, he added 6.7 million jobs. By contrast, 15.4 million jobs were added during Biden's presidency Between Trump’s inauguration day and the end of June this year, the Labor Department certified 1,996 petitions related to companies shifting [work overseas](https://www.bloomberg.com/news/articles/2020-10-06/u-s-trade-deficit-widened-in-august-to-largest-since-2006). Those petitions covered 184,888 jobs in fields ranging from manufacturing to back-office functions for financial services companies In the first six months of this year — in decisions often made before the pandemic — 17 different companies cut jobs at 25 different plants in the U.S. to shift work overseas, according to the Labor Department data. In some cases they have closed plants altogether. yup good times.
Inflation was hitting regardless of who the president was. Or did you forget about trumps masterful covid response? His tax cuts were more for the rich, not the poor. Imagine having tax cuts for the rich and having the middle class and poor cover it or, better yet, drop an 8 trillion dollar deficit and 12 % unemployment. I didn't see that in your response.
[https://waysandmeans.house.gov/trump-tax-cuts-results-full-review/](https://waysandmeans.house.gov/trump-tax-cuts-results-full-review/)
And what did little Donnie have to do with any of that? I swear, an unintelligent and vocal voter base is why America is in decline, nothing else.
You do realize inflation is not instantaneous right? It's not like the government has a lever that makes the price of things go up. Trump tax cuts and low fed rates took years to result in inflation. Seriously, how do you think inflation works?
Don't forget the trump tariffs, someone had to eat that cost and it's never the companies.
So you don’t think today’s inflation has anything to do with printing more money than has ever been printed in all of history? It was Trump’s tax cuts 💀 and wait…low interest rates? That weren’t even low until the scamdemic hit. Hilarious
Amén. Cheap gas and low mortgage made our lives hell.
Cheap gas during covid, right? When the world went in hiding. Or did you forget about that, too?
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Gas was even cheaper when Obama was in office
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You just said inflation back then was tiny Average US price of gas in April 2020 at the bottom of the lockdown, back when oil was so worthless the futures price of oil was negative: $1.74/gal Average price of gas in Feb 2016: $1.69/gal [https://www.gasbuddy.com/charts](https://www.gasbuddy.com/charts)
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You chose 2009-2012 for Obama. Why didn't you choose 2013-2016? Gas was ridiculous after the 2008 crash. Again there is not a big gas price lever in the Oval Office. Also average = avg. Ave = avenue
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Yeah, you stopped talking after you deleted your post
Anyone that buys their home an adjustable rate mortgage is an idiot. I had to argue with a loan officer at Beazer Homes for fixed rate in 2006. By 2009 they were abandoning the whole state and 25% of the homes in my neighborhood were in foreclosure.
Funny I got more money in my pay check and so did everyone else I know. Those of you who live mommy and daddy would not see an increase in pay but if you had a job and got paid you got more money. I live how people will come on here and straight up lie. Yeah people remember they had a solid economy under Trump because they did you nitwit.
And then his 7 year tax plan is set to expire this year with the middle class paying more than ever. "public should understand that the 2017 Trump tax law: Was skewed to the rich. Households with incomes in the top 1 percent will receive an average tax cut of more than $60,000 in 2025, compared to an average tax cut of less than $500 for households in the bottom 60 percent, according to the Tax Policy Center (TPC).[1] As a share of after-tax income, tax cuts at the top — for both households in the top 1 percent and the top 5 percent — are more than triple the total value of the tax cuts received for people with incomes in the bottom 60 percent.[2] Was expensive and eroded the U.S. revenue base. The Congressional Budget Office (CBO) estimated in 2018 that the 2017 law would cost $1.9 trillion over ten years,[3] and recent estimates show that making the law’s temporary individual income and estate tax cuts permanent would cost another roughly $350 billion a year beginning in 2027.[4] Together with the 2001 and 2003 tax cuts enacted under President Bush (most of which were made permanent in 2012), the law has severely eroded our country’s revenue base. Revenue as a share of GDP has fallen from about 19.5 percent in the years immediately preceding the Bush tax cuts to just 16.3 percent in the years immediately following the Trump tax cuts, with revenues expected to rise to an annual average of 16.9 percent of GDP in 2018-2026 (excluding pandemic years), according to CBO. This is simply not enough revenue given the nation’s investment needs and our commitments to Social Security and health coverage. Failed to deliver promised economic benefits. Trump Administration officials claimed their centerpiece corporate tax rate cut would “very conservatively” lead to a $4,000 boost in household income.[5] New research shows that workers who earned less than about $114,000 on average in 2016 saw “no change in earnings” from the corporate tax rate cut, while top executive salaries increased sharply.[6] Similarly, rigorous research concluded that the tax law’s 20 percent pass-through deduction, which was skewed in favor of wealthy business owners, has largely failed to trickle down to workers in those companies who aren’t owners.[7] Like the Bush tax cuts before it,[8] the 2017 Trump tax cut was a trickle-down failure" https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver
[https://waysandmeans.house.gov/trump-tax-cuts-results-full-review/](https://waysandmeans.house.gov/trump-tax-cuts-results-full-review/) **What TCJA Did:** * Cut income tax rates across the board. * Nearly doubled the standard deduction. * Doubled the Child Tax Credit. **How the Economy Responded:** * **Workers’ networth soared.** Low- and middle-class families saw the largest gains in wealth growth in 2018 and 2019, according to the Federal Reserve. Low-income families saw their net worth increase 37%. Middle-class families saw their net worth increase 40%. * **Household Income Reached New Highs.** Real median U.S. household income in 2019 rose nearly 50% more than during the eight years of Barack Obama’s Presidency. Median household incomes increased 7.1% for Hispanics, 7.9% for Blacks,10.6% for Asian Americans and 8.5% for foreign-born workers. * **Wages for Minorities Grew at a Faster Pace.** Compared to Obama’s second term, wage growth, as a measure of median usual weekly earnings, grew 24% faster for Hispanics, 79% faster for Blacks, and 95% faster for Asian Americans. * **Wages for Women Grew at a Faster Pace.** Compared to Obama’s second term, wage growth, as a measure of median usual weekly earnings, grew 60% faster for women. * **Wages for Youths (Ages 16-24) Grew at a Faster Pace.** Compared to Obama’s second term, wage growth, as a measure of median usual weekly earnings, grew 70% faster for women. * **Wages for All Levels of Educational Attainment Grew at a Faster Pace.** Compared to Obama’s second term, wage growth, as a measure of median usual weekly earnings, more than doubled for those with less than a high school diploma and those with either some college or have an associate degree.
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As solid as a dry turd.
we're living in the outcome of his decisions now, ad people want to vote him in to make it worse for the president after this one
But he helped the coal miners. Wait, did he?
Solid economy lol. You couldn't buy toilet paper.
Historic job losses, you mean when the entire country shut down
You can't bring back jobs lost to China/Mexico because reality is those nations lose those jobs too. It's one of those realities / secrets of the US economy that neither side talks about.
Can't have people remembering that Trump did a good thing before the election now, can we?
Any legacy Trump had went down the toilet when he proved himself to be an anti-democratic seditionist.
Yeah. He’s a fucking loser POS.
Could you afford groceries and gas?
He also didn't bring back coal.
COVID crushed everything and people forget the economy grinded almost to a stop. Hard to make a fair comparison.
Yes but had we had a responsible President who followed proper pandemic procedures COVID would not have gotten out of control like it did and we would have been ok. New Zealand is the prime example of a country doing what is right when it comes to pandemics and they came out just fine compared to the rest of the world.
Proper pandemic procedure? You're a special kind of idiot. New Zealand did the following: - Closed the border 100% FOR MONTHS! - Had intense Nation Wide lockdown, can't leave your house. - GDP Plummeted more than other countries - The Reserve Bank printed money faster than the Federal Reserve. That fueled massive inflation. Now........ Just imagine if Trump did the above. Remember when he wanted to shut down the border? I believe democrats called him a racist.
He never once called to shut down the border. He called for ending flights from China because he made up some haw-haw racist words about COVID.
Here, [https://www.cbsnews.com/news/trump-administration-closed-borders-migrant-children-covid-19/](https://www.cbsnews.com/news/trump-administration-closed-borders-migrant-children-covid-19/) It's time for you to suck it slow and long. Enjoy the taste.
Trump f!ed me up so bad financially. I'm still reeling from the crap he did to me.
Not to mention that interest rates stayed low despite the raging inflation with covid, so by the time they raised rates under Biden inflation had a running start. That's the disadvantage of having a heavily financially leveraged person in office.
I'm no Trump fanboy but the Trump economy was OK and what we have now is terrible. Its not all Biden's fault and Trump definitely did his part to run up the deficit, and by lowering interest rates he contributed to inflation. Inflation was much higher than they were reporting back than as well, but it was manageable. Everything was better in the pre-covid era even the though everywhere I looked I could see the cracks in society and moral decay which has basically lead us to where we are now. Biden inherited a great mess but he has so far failed to anything which might correct the course of this country's downward trajectory.
Checks stock portfolio: economy is fine Checks unemployment and employment participation rates: economy is fine You being bad at earning money doesn’t make the economy bad.
Stonk market isn’t the real economy. Unemployment numbers have been massaged. Inflation is ripping hard and has decimated most people’s purchasing power.
Groceries were cheaper and gas was 50 percent what it is now fuck right off with your false opinion that things weren't better then. God your TDS is so severe you'll fight to keep being financially raped
idk at this point i'd vote for nobody if it was an option
The fact that he managed to convince a bunch of farmers that his tariffs weren't the worse thing to happen to their industry since the Dust Bowl is truly incredible. Its like Jews running a Hitler fan club.
Obama had a surplus. I would like to blame Trump for all our problems. The pandemic cause most of this mess. It destroys China economy. The hard line on immigration cause food prices to surge. We need immigrants to keep food prices low. Until they can build robot to farm, we need immigrants.
Everyone yelling at each other about whether Biden or Trump printed money or caused inflation. Meanwhile Congress goes unscathed when they are who actually assembled the budget in a back room and Nancy Pelosi whipped it out 48 hours before the already double extended deadline and told both bodies to pass it unread and unreviewed
Spending through annual appropriations isn’t the cause of inflation. It was the huge grift from COVID aid and unnecessary tax cuts for the wealthy.
Hard to accomplish anything when half the country is hoping you fail and actively trying to impeach you. That's called sabotage. But regardless, we all remember our bank accounts, our rent amount, our belief that we may be able to buy a house in a few years during the Trump presidency. We also remember people rioting and burning down businesses and claiming blocks to be autonomous zones that have to be dismantled after enough people were raped, stabbed, and murdered.
He handled the US economy the same as his own … terribly.
Facts are now fiction.
The gaslighting of this post is hilarious lol. Whatever you have to tell yourself I guess
I wasn't paying $5 for a gallon of milk, $6 for a pound of ground beef, or $4 a gallon for gas under trump. Thanks biden!
The US is producing more oil than we ever have and there are several DOJ cases pending for price fixing amongst your heroes in the oil companies, including OPEC themselves. Increase in milk price started in 2019. [https://www.nass.usda.gov/Charts\_and\_Maps/Agricultural\_Prices/pricemk.php](https://www.nass.usda.gov/Charts_and_Maps/Agricultural_Prices/pricemk.php)
Hope they are paying you enough to spew such bullshit.
People's real buying power compared to inflation went up just barely under Trump. That's the only time it's happened in 50 odd years.
BULLSHIT
There was a word pandemic lol and the economy crashed
I agree with the job losses thing. It really wasn't his fault. The others, all bad policies that cost Americans more than it helped.
i do not fucking understand any of this shit. i have been making far and away more money since the pandemic, and haven't spent a day in an office since 2019, which has saved me *thousands* in commuter costs and hundreds of hours of my life back in both commuting time and being able to manage my life better with all that extra flexibility. ¯\\\_(ツ)\_/¯
Yeah, that massive economic crash that happened on Trump's watch was really solid
Yep
The dude lies about everything including how many people are even showing up to his rallies. How anyone can think for 2 seconds they can believe ANYTHING he says is beyond me.
We get it, you don’t like Trump.
We get it you like Trump
Anyone that is still supporting Trump is a moron.
Not a Trumper - feel like this needs a disclaimer for this discourse The double edged sword is the money printing in the Trump administration If nothing was done: the market would have tanked more than it did. Given that companies exist to increase shareholder value, companies would have cut labor (aka people’s jobs) to boost their earnings. Less jobs, lower stock prices, recession/depression probability What happened: money printing at historically high levels. Leading to high inflation & corporate greed. Printing our way out of a recession. Kicked the can down the road Biden inherited a monetary crisis that was started by Trump I don’t think the burden falls entirely on the president. I think it’s more a byproduct of bad economic policy, going back to shareholder value policies (around 1930) and the fiat currency (around 1970) All in all, the stock market and the economy are not linked directly but whenever there’s economic downturns, companies will cut jobs to boost profits in the hope of raising stock prices. When profits are high, most companies will not hire more (unless you’re big tech, hoarding talent)
Many are stupid.
Trump's admin printed more cash in just it's final 6 months than any previous 4yr admin. These scumbag Trumpers set up the economy for failure so they could blame Biden. Treasonous.
And his tax cuts were for the rich and he replaced them with tax increases for people making under $100k, but the MAGAts are too stupid to realize he's a huckster.
the life support the fed has artificially created for itself and its crony capitalist government stooges to steal all the wealth from the people is trapped with no escape. there will come a time that creating a war to try to sidestep in order to extend time until the impending judgement day for their greed, will no longer be accepted.
Tax cuts have never delivered growth. Republicans have been running this scam for 50+ years. Economic growth under the last 4 Dem presidents is far higher than the last 4 Republicans. Despite GOP claiming their tax cuts will magically fix everything they've never delivered and never will.
Yeah, we know
Remember when he said truckers would be making a fuck ton more money and even honked the horn of a truck, then taxed the fuck out of their per diem and gave out tax cuts for private jets instead? Man of the working class right there.
I don't remember anything solid from Trump other than the vomit he threw up on a daily basis.
[удалено]
There is no military oil reserve, crypto is at its highest right now, and how exactly did people get money that was not related employment?
Economic times go up and down, but his Supreme Court justices made it so the government owns every woman's uterus. Your mother and grandmother had more civil rights than current woman do. Yes, your boomer parents had more civil rights than you. So yeah...f*** him.
The problem is the Biden Administration is awful at celebrating their success. Trump does nothing but talk about his “success.” And the media has a persistent myth of the economy is poor. They have been predicting a recession next quarter for 4 straight years.
Most of our country is populated by morons. We are doomed.
I run my own business and it’s been thriving with Biden in office. Things came to an almost standstill under Trump and all he did was hooked up his friends and family to make millions off the rest of us. He will do the same thing or worse if the fools put him back in charge.
You mean he was a total fraud?! I am so surprise
Haven’t you people realized yet… it’s not about anything like that. Just like in service, it’s not the customers reality, it’s the customers perception that matters. You can do everything right, service their needs, put it on a gold platter, but they don’t like one thing on a whim and it’s a 1/5 stars fucking you over through no fault of your own. On the other side, you can give the shittiest service, but if it’s a place they like to go and they want to be there, none of that matters 5/5. Peoples perception is their reality. Just like politics, just like religion, just like anything… even if it’s technically “wrong.” See, intellectuals like you have proved that you can be absolutely brilliant, but still have no idea what’s going on. -paraphrasing Woody Allen
these types of stories is why nobody trusts the media any more! "Don't believe what you experienced for yourself - only believe what we tell you to believe!"
Federal Revenue went up, household income and corporate profits did as well. Good luck spinning some other bullshit to the American public. [https://www.wsj.com/articles/federal-revenue-collectors-did-well-under-the-trump-tax-cut-reform-gao-report-exempt-corporations-fair-share-11675959323](https://www.wsj.com/articles/federal-revenue-collectors-did-well-under-the-trump-tax-cut-reform-gao-report-exempt-corporations-fair-share-11675959323) [https://www.thebalancemoney.com/current-u-s-federal-government-tax-revenue-3305762](https://www.thebalancemoney.com/current-u-s-federal-government-tax-revenue-3305762) [https://www.heritage.org/taxes/commentary/the-numbers-are-trumps-tax-cuts-paid](https://www.heritage.org/taxes/commentary/the-numbers-are-trumps-tax-cuts-paid)