Joe's Economy And Bidenomics

ProV1 said:
He has been executing it. Inflation is around half of what it was during its peak so it's obviously working. A better question is what is Trump's plan for inflation reduction? Can you share it?
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Give us some bullet points with a sentence or two on what this Administration has done to combat inflation in the near term. Should be easy for a top business mind like yours.

No BUTTRUMPS allowed. Stay on topic.

Although in general, I'd say if you do the opposite of what Biden does on most anything, you're on the right track.
 
OldSoulon said:
Give us some bullet points with a sentence or two on what this Administration has done to combat inflation in the near term. Should be easy for a top business mind like yours.

No BUTTRUMPS allowed. Stay on topic.

Although in general, I'd say if you do the opposite of what Biden does on most anything, you're on the right track.
Click to expand...
So in a presidential election we should not evaluate the plans by both candidates? LOL

That said, her eyou go:


  • Blunting the Impact of Putin’s Price Hike: Addressing Putin’s price hike at the pump by releasing 1 million barrels of oil per day from the Strategic Petroleum Reserve for the next 6 months; rallying our allies to release an additional 60 million barrels of oil from other countries’ reserves; allowing E15 gasoline (which uses homegrown biofuels) to be sold this summer; and calling on Congress to make companies pay fees on idled wells and non-producing acres on Federal lands – so that companies that continue to sit on excess capacity will have to choose whether to start producing or pay a fee.
  • Lowering Energy Bills: Calling on Congress to pass clean energy and vehicle tax credits and investments that will reduce our dependence on reckless autocrats like Putin, save families an estimated $500 per year on their utility bills, and accelerate homegrown clean energy innovation – from producing more clean energy to bolstering our domestic supply chains that are critical for clean energy and clean transportation.
  • Lowering Prescription Drug and Health Care Costs: Saving hundreds of thousands of families hundreds of dollars per month by fixing the Affordable Care Act’s “family glitch,” which has made it impossible for many families to use the premium tax credit to purchase an affordable, high quality Marketplace plan; and calling on Congress to lower prescription drug costs and health care premiums, including allowing Medicare to negotiate drug prices, capping insulin costs, penalizing drug companies that raise prices faster than inflation, and making other needed reforms to lower prices.
  • Lowering Food Prices by Helping American Farmers Grow More, and Compete More Effectively: Calling for resources to help American farmers boost domestic food production in order to avert a potential global food crisis created by Russia’s unprovoked invasion of Ukraine; taking actions to crack down on illegal price fixing and enforce the antitrust laws in the meat and poultry processing sector; investing federal resources to create more competition in meat-processing; and providing over one billion dollars in relief to small businesses and agricultural workers hurt by COVID-19.
  • Lowering the Cost of Everyday Goods By Repairing Our Infrastructure, Supply Chains, and Manufacturing: Bringing together business, labor, federal and state governments to address supply chain bottlenecks at ports; helping more workers find good-paying jobs in the trucking industry; taking on unfair practices by global shipping companies; implementing the historic Bipartisan Infrastructure Law, which will mean goods move to market more quickly and cheaper; and fostering new investments in the United States for critical goods that drove up inflation during the pandemic, including by calling on Congress to pass the Bipartisan Innovation Act.
  • Lowering the Cost of Child Care and Long-Term Care: Calling on Congress to invest in lowering the cost of child care and long-term care, saving families thousands of dollars per year. Child care is one of the biggest costs that families with young children face, and care investments will lower prices across the economy over time by making it easier for parents and others with care responsibilities to join the workforce and be more productive.
  • Lowering Housing Costs by Building More Homes: Calling on Congress to invest in building more than 1 million affordable homes, including through a set of tax credits that have received bipartisan support; expanding and improving federal financing for the construction of new housing; and using existing federal funding to reward communities that eliminate needless barriers that prevent new housing from being built.
Now post Trumps plan.
 
ProV1 said:
So in a presidential election we should not evaluate the plans by both candidates? LOL

That said, her eyou go:


  • Blunting the Impact of Putin’s Price Hike: Addressing Putin’s price hike at the pump by releasing 1 million barrels of oil per day from the Strategic Petroleum Reserve for the next 6 months; rallying our allies to release an additional 60 million barrels of oil from other countries’ reserves; allowing E15 gasoline (which uses homegrown biofuels) to be sold this summer; and calling on Congress to make companies pay fees on idled wells and non-producing acres on Federal lands – so that companies that continue to sit on excess capacity will have to choose whether to start producing or pay a fee.
  • Lowering Energy Bills: Calling on Congress to pass clean energy and vehicle tax credits and investments that will reduce our dependence on reckless autocrats like Putin, save families an estimated $500 per year on their utility bills, and accelerate homegrown clean energy innovation – from producing more clean energy to bolstering our domestic supply chains that are critical for clean energy and clean transportation.
  • Lowering Prescription Drug and Health Care Costs: Saving hundreds of thousands of families hundreds of dollars per month by fixing the Affordable Care Act’s “family glitch,” which has made it impossible for many families to use the premium tax credit to purchase an affordable, high quality Marketplace plan; and calling on Congress to lower prescription drug costs and health care premiums, including allowing Medicare to negotiate drug prices, capping insulin costs, penalizing drug companies that raise prices faster than inflation, and making other needed reforms to lower prices.
  • Lowering Food Prices by Helping American Farmers Grow More, and Compete More Effectively: Calling for resources to help American farmers boost domestic food production in order to avert a potential global food crisis created by Russia’s unprovoked invasion of Ukraine; taking actions to crack down on illegal price fixing and enforce the antitrust laws in the meat and poultry processing sector; investing federal resources to create more competition in meat-processing; and providing over one billion dollars in relief to small businesses and agricultural workers hurt by COVID-19.
  • Lowering the Cost of Everyday Goods By Repairing Our Infrastructure, Supply Chains, and Manufacturing: Bringing together business, labor, federal and state governments to address supply chain bottlenecks at ports; helping more workers find good-paying jobs in the trucking industry; taking on unfair practices by global shipping companies; implementing the historic Bipartisan Infrastructure Law, which will mean goods move to market more quickly and cheaper; and fostering new investments in the United States for critical goods that drove up inflation during the pandemic, including by calling on Congress to pass the Bipartisan Innovation Act.
  • Lowering the Cost of Child Care and Long-Term Care: Calling on Congress to invest in lowering the cost of child care and long-term care, saving families thousands of dollars per year. Child care is one of the biggest costs that families with young children face, and care investments will lower prices across the economy over time by making it easier for parents and others with care responsibilities to join the workforce and be more productive.
  • Lowering Housing Costs by Building More Homes: Calling on Congress to invest in building more than 1 million affordable homes, including through a set of tax credits that have received bipartisan support; expanding and improving federal financing for the construction of new housing; and using existing federal funding to reward communities that eliminate needless barriers that prevent new housing from being built.
Now post Trumps plan.
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He's "calling on" a lot of people to bail him out?

This is a bunch of pie in the sky crap.
 
OldSoulon said:
He's "calling on" a lot of people to bail him out?

This is a bunch of pie in the sky crap.
Click to expand...
Over half has already been done. Some of it does need Congress but it is part of the plan.

Can you post Trump's plan so we can compare?
 

Young Americans' wealth has soared since the pandemic​

Data: Center for American Progress analysis of Federal Reserve data; Chart: Axios Visuals
Household wealth for those under 40 in the U.S. is up 49% from its pre-pandemic level, according to a new analysis from the left-leaning Center for American Progress.
Why it matters: Young households haven't seen wealth growth like this since the Federal Reserve first started tracking this data in 1989.
Stunning stat: Millennials — born between 1981 and 1996 — saw their wealth double over this period, per CAP.
Zoom in: Wealth includes the value of a household's assets, including stocks, bank accounts, and real estate, minus its liabilities, such as mortgages and student loan debt.
How it works: Those under 40 have seen big asset gains and have been able to reduce some liabilities, CAP points out.
  • Average housing wealth rose $22,000 — as homeownership rose and home prices soared. Liquid assets climbed, courtesy of leftover savings from pandemic relief and higher wages.
  • And the value of the group's financial assets, mostly stocks and mutual funds, increased by $31,000.
  • Meanwhile, nonhousing debt fell by $5,000. With more money in their pockets, people could pay off credit cards (the student loan moratorium helped), or not take that debt on at all.
For the record: The Federal Reserve data looks at average wealth, which raises the question: Are these gains widely distributed?
  • CAP says these gains are broad-based, pointing to separate (but less timely) data from the Fed's survey of consumer finances that show a 140% increase in median wealth for households under 35 from 2019 to 2022.
Reality check: Older Americans are still far wealthier than the youngs.
The bottom line: Without any apparent dip in their avocado toast consumption, young Americans have managed to increase their financial security.
 
OldSoulon said:
This thread is about Biden, and his failures in the Economic Arena.
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Oh yeah ... I forgot the just announced requirement for airline refunds for canceled flights. That saves money vs those dumb credits that don't get used half the time.

Trump has no plan. Ditto healthcare. Ditto infrastructure.
 
ProV1 said:
So in a presidential election we should not evaluate the plans by both candidates? LOL

That said, her eyou go:


  • Blunting the Impact of Putin’s Price Hike: Addressing Putin’s price hike at the pump by releasing 1 million barrels of oil per day from the Strategic Petroleum Reserve for the next 6 months; rallying our allies to release an additional 60 million barrels of oil from other countries’ reserves; allowing E15 gasoline (which uses homegrown biofuels) to be sold this summer; and calling on Congress to make companies pay fees on idled wells and non-producing acres on Federal lands – so that companies that continue to sit on excess capacity will have to choose whether to start producing or pay a fee.
  • Lowering Energy Bills: Calling on Congress to pass clean energy and vehicle tax credits and investments that will reduce our dependence on reckless autocrats like Putin, save families an estimated $500 per year on their utility bills, and accelerate homegrown clean energy innovation – from producing more clean energy to bolstering our domestic supply chains that are critical for clean energy and clean transportation.
  • Lowering Prescription Drug and Health Care Costs: Saving hundreds of thousands of families hundreds of dollars per month by fixing the Affordable Care Act’s “family glitch,” which has made it impossible for many families to use the premium tax credit to purchase an affordable, high quality Marketplace plan; and calling on Congress to lower prescription drug costs and health care premiums, including allowing Medicare to negotiate drug prices, capping insulin costs, penalizing drug companies that raise prices faster than inflation, and making other needed reforms to lower prices.
  • Lowering Food Prices by Helping American Farmers Grow More, and Compete More Effectively: Calling for resources to help American farmers boost domestic food production in order to avert a potential global food crisis created by Russia’s unprovoked invasion of Ukraine; taking actions to crack down on illegal price fixing and enforce the antitrust laws in the meat and poultry processing sector; investing federal resources to create more competition in meat-processing; and providing over one billion dollars in relief to small businesses and agricultural workers hurt by COVID-19.
  • Lowering the Cost of Everyday Goods By Repairing Our Infrastructure, Supply Chains, and Manufacturing: Bringing together business, labor, federal and state governments to address supply chain bottlenecks at ports; helping more workers find good-paying jobs in the trucking industry; taking on unfair practices by global shipping companies; implementing the historic Bipartisan Infrastructure Law, which will mean goods move to market more quickly and cheaper; and fostering new investments in the United States for critical goods that drove up inflation during the pandemic, including by calling on Congress to pass the Bipartisan Innovation Act.
  • Lowering the Cost of Child Care and Long-Term Care: Calling on Congress to invest in lowering the cost of child care and long-term care, saving families thousands of dollars per year. Child care is one of the biggest costs that families with young children face, and care investments will lower prices across the economy over time by making it easier for parents and others with care responsibilities to join the workforce and be more productive.
  • Lowering Housing Costs by Building More Homes: Calling on Congress to invest in building more than 1 million affordable homes, including through a set of tax credits that have received bipartisan support; expanding and improving federal financing for the construction of new housing; and using existing federal funding to reward communities that eliminate needless barriers that prevent new housing from being built.
Now post Trumps plan.
Click to expand...
Energy: https://www.statista.com/chart/26882/us-energy-costs-natural-gas-gasoline-electricity/
Prescription drugs: https://www.americanprogress.org/article/drug-companies-continue-to-hike-prices-above-inflation/
Food Prices: https://www.cbsnews.com/news/food-prices-grocery-inflation-biden-economy/
Child Care costs: https://ohiocapitaljournal.com/2024...-rise-as-ohios-children-face-pervasive-risks/
Housing costs: https://www.nar.realtor/magazine/real-estate-news/home-prices-are-still-rising-in-85-of-us-cities
Putin Price Hike: https://www.newsweek.com/fact-check-joe-bidens-putin-price-hike-inflation-claim-accurate-1715647
 
 
ProV1 said:
Oh yeah ... I forgot the just announced requirement for airline refunds for canceled flights. That saves money vs those dumb credits that don't get used half the time.

Trump has no plan. Ditto healthcare. Ditto infrastructure.
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How does that lower grocery and gas bills?
 
ProV1 said:
Inflation is around half of what it was during its peak so it's obviously working.
Click to expand...

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gneiss rocks said:
We lived through Trump's plan and it averaged 1.4 vrs Biden 4.9...My inflation reduction plan= Trump. Could it get any more clear?
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We lived through Trump's plan and it added double the national debt Biden has. My Inflation Reduction Plan = Biden. Could it get anymore clear?
 
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