The Biden Administration’s robust and durable track record on jobs and unemployment is breaking records, putting up some of the best results we’ve seen in half a century.
All good and well but food, vehicle and housing prices have shot up. I’m sure someone will regale us with tales of corporate price gouging but those are the facts.
Feels like we just watched Trump peel out of the bank with a trunk full of cash, and now Biden’s spent four years refilling the vault but won’t close the door until we give him a second term.
Democracy is when we take a vote on whether we get robbed again. No, we can’t lock the fucking bank robber up. That would be against the rules.
Remember when Obama went his entire term just about with positive job numbers and economy? Even till the end he was trashed for the economy by republicans.
Remember when Obama went his entire term just about with positive job numbers and economy?
Obama walked into office the week that the Great Recession rebounded. And he spent his first 100 days focused on bailing out the banks, propping up private industry, and prosecuting our wars in the Middle East. Of course the on-paper first term looked stellar. We had nowhere to go but up.
And yet… his 60 vote majority Senate dithered on immigration, health care, and climate change because he was so overly invested in “bipartisan” legislation. He didn’t close Gitmo, like he campaigned on. He didn’t exit Iraq, like he campaigned on. He didn’t prosecute any of the banksters. He didn’t even route the trillions of dollars in treasure bailouts to homeowners, resulting in some of the highest foreclosure rates of the crisis happening on his watch, while banks recapitalized at record speed (and turned a ton of that cash into campaign ads against him in the following election cycle).
Republicans took advantage of his casual even-handed approach to governance by stabbing him as many times in the back as they could. They fought him in the courts. They fought him in the media. They held up every bill possible in the Senate. They gerrymandered every House seat and state legislative race at their disposal.
And when 2010 came around, they brutalized the Democratic Party, as a result. Obama showed up with a handshake to a knife fight, when he could have been packing heat.
Because jobs numbers are meaningless stats to reflect the state of the economy. Doesn’t matter if unemployment is at 0% if wages are stagnant and a person can’t live off it
Wages aren’t stagnant
People still can’t live off them, they are stagnant.
People can’t live off what they’re making because corporations are cranking up the prices for record profits and blaming inflation. Food is one of the biggest offenders, and then thanks to all the corporations buying up all the single family homes, it’s driving rent through the roof with no chance for the average person to buy a house. It doesn’t matter how much you make when the rich just raise the bar for no other reason than greed.
Wages are not stagnant, around here 5 years ago it paid 8 bucks an hour to work at a fast food restaurant, now they start at 15. I make three times as much as I did 4 years ago doing the same thing I was doing. It might be a you problem if you think wages are stagnant, or you’re just a mouthpiece for fox “news”
It doesnt matter what it was 5 years ago, or what it is now. Its still not a livable wage. $15hr was the right number 20 years ago, not last week.
That’s not what that word means.
Stagnant refers to something that is not moving, moving slowly, declining. Which perfectly describes wages.
Wages are neither still nor declining. They are increasing.
Until people can live in those wages it’s irrelevant.
Isn’t low unemployment a “despite the Biden administration” thing? Wasn’t that the whole point of the interest rate hikes to “cool off” the economy (I.E. increase unemployment). Am I missing something?
The President has no power over the interest rate. The interest rate is set by the Federal Reserve.
Agreed, presidents can apply pressure but the Fed is technically independent. That probably wasn’t fair of me to link Biden to the Fed, sorry. Dems are quick to attribute this gain to the Biden administration. I’ve heard broad statements about how Biden is good for the economy, but they don’t really go into specifics. I’m curious what they’re specifically saying he’s done to boost the economy to the point that it invalidates Fed interest/employment/inflation models.
Executive order: anti-trust policies and various pro-consumer market adjustments
A form of stimulus to the renewable industry, by having the gov purchase new zero-carbon equipment
Revoking a bunch of pro-oligarchy Trump orders
Incentivizing greater housing supply
Just a quick sampling of stuff that is Biden’s actions alone. The infrastructure spending that he helped negotiate with Senate Democrats was also huge, but I think Congress gets the lion’s share of the credit for that one.
Just don’t ask him how many white collar jobs we lost over the last year.
