Image by Gerd Altmann from Pixabay
Biden’s economy is a failure — and everybody but him can see why.
Here are 40 reasons “Bidenomics” isn’t working:
1️⃣ Americans have seen a 3% pay cut since Biden took office.
2️⃣ Prices have risen by 17.6% since Biden took office.
3️⃣ Under Biden, inflation remains more than…
— RNC Research (@RNCResearch) November 16, 2023
A failure from the first day, 01/20/2021
So will the M.S. Media bottom Feeders just ignore this and still throw support for Bidens reelection? Liberals never learn
IF THE ECONOMY IS SO GREAT, WHY ARE TAX REVENUES SO WEAK?
https://mises.org/power-market/if-economy-so-great-why-are-tax-revenues-so-weak
Federal deficits continue to spiral upward, but deficits aren’t just a function of federal spending. Deficits aren’t necessary if tax revenues increase to match spending. But that’s certainly not where we find ourselves in 2023. Rather, federal spending is rising even as federal revenues have fallen, year over year, for ten of the last twelve months. Moreover, on a quarterly basis, federal receipts have been falling—quarter-to-quarter—since the third quarter of 2022.
It’s long been known that there’s a pretty strong correlation between falling tax revenues and worsening economic conditions. Yet, even as tax revenues are falling, we’re being repeatedly told that the American economy is in great shape and there’s no recession in sight.
Yet, if we take a historical view, we can see how declining federal revenues have clearly coincided with recessions going back at least 40 years:
There have been some periods where revenues went slightly negative without an accompanying recession. But not in many decades do we see a situation where year-over-year revenue has fallen to the extent that it has fallen in recent months, without a recession following soon after. (For example, federal revenue dropped 26 percent, year over year, in April of this year, followed by a 21-percent drop in May.)
Most of the corporate media’s declarations of excellent economic conditions look no further than the trailing indicator of employment or consumer spending. Consumer spending, of course, continues to be fueled by rising debt levels while investment falls.
Tax revenues present a problem for the everything-is-swell narrative, however. This can partly be explained if we consider that federal revenues nowadays are heavily reliant on income taxes and payroll taxes. So, if wages and job growth were truly surging as the Bureau of Labor Statistics insists via its payroll survey, we’d be seeing more growth in taxes on wages and income. The fact federal revenues are falling suggests household incomes aren’t exactly soaring.
The fact tax revenues are weak and falling should not shock us if we’re actually paying attention, however. Real wages are lower now than they were in January 2020, before the beginning of the covid recession. Looking at CPI-adjusted average hourly wages, wages increased a whopping two cents from September 2022 to September 2023. Wages are down by .06 percent since January 2020 before the lockdowns. In other words, real wages have gone nowhere in years.
There may be a multitude of other factors as well, of course, but no matter what the specifics are, it’s difficult to deny that falling or weak tax revenues contradict narratives telling us how strong the economy is. Moreover, consumer spending as we now see it is also coinciding with a surge in corporate bankruptcies, a falling saving rate, and mounting consumer debt. The index of leading indicators is in recession territory. The inverted yield curve points to recession, and money-supply growth has crashed to its lowest levels since the Great Depression. Who would be surprised that tax revenues fail to impress? Only mainstream journalists and establishment economists.
Because of three decades of accumulating cuts at the highest end of the progressive tax schedule. Prior to that, deficits and debt were minimal.
Quinnipiac University poll found Biden’s economy is the number one issue for voters, outranking climate change, abortion, and “preserving democracy”:
The poll’s demographics among those who approve of Biden’s management of the economy are:
If you’re “on the dole,” you love joe’s economy.
If you work for a living his economy is killing you.
https://en.m.wikipedia.org/wiki/It%27s_the_economy,_stupid
It’s still the economy, stupid
We all know that the expression “The economy, stupid” is a phrase that was coined by James Carville in 1992. It is often quoted from a televised quip by Carville as “It’s the economy, stupid.” Carville was a strategist in President Bill Clinton’s successful 1992 presidential campaign against the then incumbent US President George Henry Walker Bush.
Our research shows that Clinton’s campaign advantageously used the then prevailing recession in the United States as one of the means to successfully unseat George H.W. Bush. It is recalled that in March 1991, days after the war in Kuwait, 90% of polled Americans approved of President Bush’s job performance. The Americans lauded Bush for defending the small but oil-rich nation in the Gulf. But during the following year, American opinion turned sharply; 64% of polled Americans disapproved of Bush’s job performance in August 1992. That means that when the peoples’ lives are made very difficult because of high prices, high unemployment rate and high poverty incidence, the people always blame the president for their predicament.
https://www.philstar.com/the-freeman/opinion/2023/11/15/2311627/its-still-economy-stupid
Why?
Why did your lying cult leader ORDER his underlings to refuse congressional subpoenas?
They all have the same game plan: Milei echoes Trump with fraud claims that inject uncertainty into Argentina’s presidential runoff –
biden will be guilty of obstruction of justice.
James Biden signals willingness to cooperate in brother’s impeachment probe, Comer reveals
If he’s willing to cooperate, it’s because nothing he can tell them will incriminate Joe Biden. He might even make the accusers look like the idiots that they are.
The US economy is strong. Maybe all of the failures prefer to blame Biden rather than themselves.
And the border is closed, right, Comrade Greggie?
The people coming to America have strong religious values, strong family values, and commendable work ethic. They’re ambitious, they value education, and they were willing to go through hell to get here. No wonder you feel threatened.
Let me see if I understand your stance, Comrade Greggie; if a person is religious, loves their families, are ambitious, value education and traverse unfriendly terrain, you have no problem with them breaking our laws? That person, due to the attributes you bestow on them, can move into your home uninvited, raid you refrigerator, demand you pay for their children’s education, also pay for their medical needs, an all things required for their sustenance?
Never mind they drive without a license, including while intoxicated, come back to your home after you evict them, time after time, and maybe, just maybe, they might find a job so they can sent 75% of their pay back to the country they came from so their families can pay cayotes to help them join others here illegally.
Why don’t you illegally enter Mexico, or any point south of that, and see how you are treated?
I was just pointing out that they’re more of an asset to the nation than many of the bigots who would like to see them all deported—which your lying cult leader claims he will do. I believe he said something about huge internment camps…
Sweeping Raids, Giant Camps and Mass Deportations: Inside Trump’s 2025 Immigration Plans – If he regains power, Donald Trump wants not only to revive some of the immigration policies criticized as draconian during his presidency, but expand and toughen them.
As of 2021, each deportation cost US taxpayers over $10,000.
An estimated 11 million undocumented aliens live in the US.
Do some arithmetic and see what you come up with.
I come up with the conclusion that Trump is pitching a line of bullshit.
And how much of taxpayer money is spent on unaccompanied alien children in just one year? Do you even know?
How f*cking uninformed are you? Eight million have crossed our borders illegally since January 2021. Do you really think that only 3 million illegals were in the U.S. before that date?
You’re the one that needs to take a math course.
Trump has not one damn thing to do with the fact that Mayorkas, under the direction of the Biden administration, has violated our national immigration laws and created a national security threat more than any president in history.
Why don’t you tell me? Or are you only pretending to know?
In which case the cost of removing them as as Mr. Peanut claims he will do is even greater than $10,000 x 11 million, isn’t it? Was that the point you were trying to make?
Obviously I’m not, since you don’t seem to grasp that increasing the multiplicand by millions greatly increases the product of a simple multiplication equation.
No, moron. Illegal entrants have violated our immigration laws, not Alejandro Mayorkas.
Maybe the back-assward view of reality explains why you imagine Trump supports the rule of law, while everyone charging him with crimes is a criminal.
Unlike you, Comrade Greggie, I don’t “pretend” to know data. And I don’t resort to reprinting long articles from radical left wing publications like the NYSlimes which only shows you are either lazy, or stupid, or both.
Try hhs.gov for a start. Maybe you’ll actually learn something.
I see that today, once again, you intend to prove what an idiot you are. Actually deporting all 28 million that are already here would not be necessary. If the Biden administration was to actually do its job and uphold U.S. law, many would self deport. Throw a couple of thousand in jail with a court date a year from the date of arrest and watch the traffic heading toward the Mexican border. Tax, highly, all remittances sent, by anyone without a IRS number, out of the nation to another nation. Make the theft of a Social Security number a mandatory federal jail sentence of a year, or more.
That doesn’t take into consideration the costs to the taxpayers for illegals. For their health care at Emergency Rooms who have lost so much money treating illegals that most of the hospitals in the border areas have closed. Or the cost of educating their children. In a school district neighboring me, 69% of their student body is made up of illegals. I can promise you, Joe Biden is not sending them money to off-set the cost.
Of course, it is clear you are unfamiliar with the Bracero Program and Operation Wetback. But then, you are simply a puppet, not a person with a thinking brain.
I get it. You have bought into the talking point it is fine to illegally import more human beings that exceeds the population in your state; is greater than the population in New York City; and greater than the population of Houston, Dallas and San Antonia combined.
So if I break the law, the law enforcement agencies in my area (P.D., Sheriff’s office, DPS and Federal officers) don’t have a responsibility to apprehend me and bring me to justice?
Well, bubba, a judge just ruled that the Border Patrol, under the direction of Mayorkas, has no authority to destroy state property. How’s that sit with you, and the rest of your Marxist compadres?
This has nothing to do with Trump, no matter how much you want it to. The action of Biden fall strictly on the shoulders of Biden. You seem to want to have it both way; blame Bush for the actions of Obama, but blame Trump for policies started by Obama. Now, because you have a dementia addled grifter in office, you blame Trump.
Your replies have little or nothing to do with comments you pretend to be responding to.
OK, so you don’t have the intellect to respond.
Got it!!!
Troll somebody else.
Talking to the mirror again, I see.
Great comeback—if you were eight years old.
And my responses to Comrade Greggie is your business why?
It’s a public forum, Internet Tough Guy. If you don’t want people to notice when you’re
being childish, don’t be childish where everyone can watch you do it. Also: you elbow your way into my interactions with other people all the time, so take your whining elsewhere.
So you are a member of the Whining Weasel’s Association. I’ll keep that in mind the next time you post another of your stupid, ill informed comments.
If that’s your roundabout way of telling me that you’re going to be an asshole, you needn’t have bothered—that’s a given.
It is my very direct way of telling you that your comments indicate you are an arrogant, poorly informed buffoon.
Agree to disagree, I guess.
No evidence exists to validate the cost of removing one illegal alien is 10k. That is absurd. A recent report cited the amount of 451 billion this year alone to provide simple necessities for the current number of illegal aliens here.
Operation complete removal will commence January 20, 2025 and will continue until every illegal alien is removed from our country. No amnesty. They all go back to whatever shithole from whence they came.
And Mexico will pay for it?
Only Trump cultists would buy the Brooklyn Bridge twice.
Who needs to reveal the details, when you can walk on water and fly by flapping your arms?
Agenda 47
The lies get bigger with every telling:
We are a nation that surrendered in Afghanistan? You are the man who did it, you lying piece of sh*t.