The Kamala Harris Economy And Bidenomics

Omega

Omega

Well-known member
The previous thread appears to have vanished like Epstein's client list. So lets try again.
 
 
www.cnbc.com

Sen. Joe Manchin: The debt of our nation is 'the greatest threat we have as a country'

Senator Mitt Romney (R-Utah) and Senator Joe Manchin (D-W.Va.) join 'Squawk Box' to discuss the new 'Fiscal Stability Act' that would create a commission to come up with potential improvements to the long-term fiscal health of the federal government, the push to rein in the nation's $33 trillion...
www.cnbc.com www.cnbc.com

thehill.com

Annual interest payments on US debt cross $1T: Bloomberg

The estimated yearly amount the U.S. is paying on its debt crossed $1 trillion at the end of October, a recent analysis by Bloomberg found. These annualized interest costs — which were calculated u…
thehill.com thehill.com

Bidenomics can be described as deficit spending. The results are record job growth, strong GDP growth, investments in infrastructure, microchips, and green energy. The down side has been inflation and higher interest rates making the American dream of homeownership more difficult.

So going forward does the national debt matter? Is it an investment in our future, or is it a threat that will eventually strangle capital markets and create stagflation going forward?
 
Omega said:
www.cnbc.com

Sen. Joe Manchin: The debt of our nation is 'the greatest threat we have as a country'

Senator Mitt Romney (R-Utah) and Senator Joe Manchin (D-W.Va.) join 'Squawk Box' to discuss the new 'Fiscal Stability Act' that would create a commission to come up with potential improvements to the long-term fiscal health of the federal government, the push to rein in the nation's $33 trillion...
www.cnbc.com www.cnbc.com

thehill.com

Annual interest payments on US debt cross $1T: Bloomberg

The estimated yearly amount the U.S. is paying on its debt crossed $1 trillion at the end of October, a recent analysis by Bloomberg found. These annualized interest costs — which were calculated u…
thehill.com thehill.com

Bidenomics can be described as deficit spending. The results are record job growth, strong GDP growth, investments in infrastructure, microchips, and green energy. The down side has been inflation and higher interest rates making the American dream of homeownership more difficult.

So going forward does the national debt matter? Is it an investment in our future, or is it a threat that will eventually strangle capital markets and create stagflation going forward?
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What evidence do you have that a republican would have done better?
 
ProV1 said:
What evidence do you have that a republican would have done better?
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Nowhere did I make that claim. The Manchin / Romney article was just to highlight that not everybody buys into the national debt situation . Republican presidents and congresses are complicit in getting us to where we are at with the deficit.
 
Omega said:
Nowhere did I make that claim. The Manchin / Romney article was just to highlight that not everybody buys into the national debt situation . Republican presidents and congresses are complicit in getting us to where we are at with the deficit.
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You only blamed Biden for inflation inducing deficit spending.
 
ProV1 said:
You only blamed Biden for inflation inducing deficit spending.
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I blame Biden for continuing massive deficit spending that in turn keeps inflationary pressures high which in turn keeps interest rates high to combat inflation. High interest rates can shrink capital markets for private investment and make homeownership unattainable for all too many Americans.

We are past the debate who to blame. Both political parties are guilty. In a way, the size of the debt makes no difference as long as the interest is paid. One can also claim the debt is an investment in America's future.

Yet may I suggest my real problem is having the American economy become so dominated by the government that private initiative and responsibility is snuffed out. What made America great was the freedom to succeed or fail on one's own merit.
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All I ask is that people think before making a binary choice .
 
Omega said:
I blame Biden for continuing massive deficit spending that in turn keeps inflationary pressures high which in turn keeps interest rates high to combat inflation. High interest rates can shrink capital markets for private investment and make homeownership unattainable for all too many Americans.

We are past the debate who to blame. Both political parties are guilty. In a way, the size of the debt makes no difference as long as the interest is paid. One can also claim the debt is an investment in America's future.

Yet may I suggest my real problem is having the American economy become so dominated by the government that private initiative and responsibility is snuffed out. What made America great was the freedom to succeed or fail on one's own merit. View attachment 49604

All I ask is that people think before making a binary choice .
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A second trump term would be just as bad as the first for Debt. What do we cut military funding or SS/Medicare for the (CHS and older yappis on the board as they bitch about Big Government while cashing checks)
 
Happier said:
A second trump term would be just as bad as the first for Debt. What do we cut military funding or SS/Medicare for the (CHS and older yappis on the board as they bitch about Big Government while cashing checks)
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That is the quandary. Whose ox to gore?

I am a realist. Government spending and the national debt will never be reduced. However I would be pleased with a return to actual budgeting and appropriations processes in Congress instead of blank check continuing spending resolutions.

The first step in any twelve step program is the admission there is a problem.
 
Omega said:
That is the quandary. Whose ox to gore?

I am a realist. Government spending and the national debt will never be reduced. However I would be pleased with a return to actual budgeting and appropriations processes in Congress instead of blank check continuing spending resolutions.

The first step in any twelve step program is the admission there is a problem.
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This is fair...but government budgeting is different than personal financing as they have a treasury. #economics.
 
Omega said:
That is the quandary. Whose ox to gore?

I am a realist. Government spending and the national debt will never be reduced. However I would be pleased with a return to actual budgeting and appropriations processes in Congress instead of blank check continuing spending resolutions.

The first step in any twelve step program is the admission there is a problem.
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We'd be awashed in cash if we'd make major reforms to the entitlements eliminate funding to groups that are abject failures..... and yes, that does mean people will get their feelings and bank accounts hurt.

That's the only way it will work.....

For any new dollar spent, another (preferrrrably more) is eliminated.
 
AllSports12 said:
We'd be awashed in cash if we'd make major reforms to the entitlements eliminate funding to groups that are abject failures..... and yes, that does mean people will get their feelings and bank accounts hurt.

That's the only way it will work.....

For any new dollar spent, another (preferrrrably more) is eliminated.
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So Medicare/Medicaid/Social Security/Veteran care?

Also this would slow the economy which impacts taxes, jobs and personal welfare.
 
Happier said:
A second trump term would be just as bad as the first for Debt. What do we cut military funding or SS/Medicare for the (CHS and older yappis on the board as they bitch about Big Government while cashing checks)
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If Trump wins again, will there be another pandemic and societal shutdown?
 
ProV1 said:
You only blamed Biden for inflation inducing deficit spending.
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I don't blame him I blame every President since Ike and do not mention the name Clinton. If it was not for a R congress he to would have spent more than was taken in.
 
I do find it strange that Trump screwed it up so in comes Biden and does the same thing as Trump did yet it is reported he screw up nothing and he is the hero savior.
 
19AL63 said:
I do find it strange that Trump screwed it up so in comes Biden and does the same thing as Trump did yet it is reported he screw up nothing and he is the hero savior.
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The nutjobs are overemphasizing the impact of US government spending on the global inflation we have experienced. Is it a factor? Sure. It is small compared to the whiplash of global supply/demand in 2020 and 2021. It put the entire supply chain out of whack. That has massive repercussions, and it does not fix itself easily or quickly.
 
ProV1 said:
The nutjobs are overemphasizing the impact of US government spending on the global inflation we have experienced. Is it a factor? Sure. It is small compared to the whiplash of global supply/demand in 2020 and 2021. It put the entire supply chain out of whack. That has massive repercussions, and it does not fix itself easily or quickly.
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See Biden is the Hero savior and you just point that is how you feel. Tell me what did Biden do different that the Trump plan to end covid. You really changed the subject being discussed to inflation and that was not the talking point.
 
19AL63 said:
See Biden is the Hero savior and you just point that is how you feel. Tell me what did Biden do different that the Trump plan to end covid. You really changed the subject being discussed to inflation and that was not the talking point.
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My post was directly related to inflation. Biden and Trump were equally guilty of spending. My point is that US government spending was not the primary driver of global inflation. If fit was, inflation in the US would not be lower than almost all other peer companies. Get it?
 
Happier said:
So Medicare/Medicaid/Social Security/Veteran care?

Also this would slow the economy which impacts taxes, jobs and personal welfare.
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Cut the waste in those programs (in other words, run them like a business) and you'll have a more effecient result in the performance of the programs with less money spent.

Your concern for the job loss is duly noted..... as those will be needless government jobs being eliminated. (see "Big Gubermint")
 
ProV1 said:
My post was directly related to inflation. Biden and Trump were equally guilty of spending. My point is that US government spending was not the primary driver of global inflation. If fit was, inflation in the US would not be lower than almost all other peer companies. Get it?
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And my post that you were replying to was on the handling of covid and only covid. Nothing on the handling of inflation and yet all you do is double down on your inflation statement. One track mind or no good answer for Bidens handling of covid?
 
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