4 more Days

4 more days till Biden starts spending an additional couple trillion the feds don't have. Originally Posted by Unique_Carpenter

Nobody will or should take that jack ass seriously. But I am sure he'll at least be entertaining with his Gaffs and bullshit stories that Liberals will find enlightening, lol.

You thought Trump would win too....so there's that.


Biden may not make it....if he actually does his job, he might get stressed out trying to repair all of Trumps' fuck ups.


What's a salery? Originally Posted by matchingmole

Biden is a Fuck Up connoisseur. He'll create his own.

4 more days till Biden starts spending an additional couple trillion the feds don't have. Originally Posted by Unique_Carpenter

It's getting better every day we get closer to making America smart again. And...the uber wealthy will have to pay taxes again. Mcdonal lost his power to piss on middle class. That wouldn't be the trumpy cartel though. They have so many things to pay for in the courts Originally Posted by Tsmokies

Will he pile up the 8 trillion in 4 years that Trump did?

He just may because I doubt the old fucker is thinking about a 2nd term. Originally Posted by WTF

That will be five fucking trillion dollars in stimulus including the $2 trillion Biden's proposing. That's 25% of GDP. Some day we'll look back and figure Obama, Trump and Biden bankrupted the country.

Au contraire Tsmokies. McConnell was the only thing standing between a spendthrift federal government and financial suicide. Trump and the Democrats (including Biden) were ready to throw another $600 billion out to the public, irregardless of employment status or need, and Biden has come up with a ton of other goodies the country doesn't need and can't afford (see below). Your uber wealthy theory is wrong. The rich and the upper middle class pay most of the taxes, with exceptions like Trump and some wealthy Democratic donors. Everybody else gets a free ride.


Biden’s First Spending Blowout
He doubles Obama’s 2009 plan even as the economy is poised to take off in 2021.

Those two Georgia Senate races were more expensive than even we thought. “With interest rates at historic lows, we can not afford inaction,” President-elect Joe Biden declared Thursday night. He wasn’t kidding as he outlined a $1.9 trillion Covid spending plan, which comes on top of the $900 billion Congress appropriated last month, and the $2.9 trillion in the spring. And this is only Mr. Biden’s “first installment,” as Sen. Bernie Sanders put it.

***
The first point to understand is that this blowout has nothing to do with economic stimulus. Nearly all of the money is for income redistribution—some to people in genuine need, but most to advance long-term Democratic social policies, and to massage constituencies like teachers unions and state politicians.

This may boost short-term consumer demand, which is already poised to explode once the pandemic eases. But it won’t change incentives for growth because people don’t change their behavior unless they expect long-term earnings to change, as John Cogan and John Taylor described Friday on these pages.

More government spending will only help the economy to the extent it ends the pandemic faster and helps people get back to work. Toward that end Mr. Biden proposes $70 billion for vaccines, therapies and testing in addition to the $42 billion that Congress passed last month. This will make a difference if it delivers vaccines faster, though the main bottlenecks now are bureaucratic and political. Ditto for therapies. The Food and Drug Administration restricts access to monoclonal antibodies for hospitalized patients, for example, but local governments have struggled to set up non-hospital infusion sites.

Most of the rest of the Biden plan is a repeat of the 2009 Obama plan—doubled. State and local governments will get $350 billion, though many have more revenue than before the pandemic thanks to buoyant equity and housing markets. State and local non-education employment has fallen 3.7% since February compared to 6.5% for private business.

Schools that stayed closed (and laid off employees) will be rewarded with $130 billion to open—with no guarantees that they will. This is a payoff to unions that have refused to open schools even as most private schools have. Public and historically black colleges will get $35 billion, but nada for private schools.

One of his worst ideas is to raise the $300 weekly federal unemployment benefits enhancement to $400 and extend it through September. Half of unemployed Americans will earn more with the extra $400 than by working, which may help explain why benefit claims this week surged after the $300 fillip was reinstated. Claims plunged last fall after the $300 lapsed. Many businesses say they can’t pay enough to lure employees back until the payments end.

Mr. Biden also wants to raise the minimum wage to a uniform $15 an hour nationwide. It’s hard to imagine a more destructive policy for small businesses struggling to survive, especially in rural areas and mid-America states with lower wage levels than New York City. The strange economic logic seems to be to make it more expensive for businesses to rehire workers while giving those workers less incentive to return to work.

Mr. Biden plans to make it up to minority-owned small businesses with $190 billion in “equitably” distributed loans and grants. But if this is doled out based on race, it could be unconstitutional. The Paycheck Protection Program was a far better, and less political, way to help small business.

He also prescribes another round of transfer payments including $1,400 checks for most Americans, most of whom have jobs. This will cost some $400 billion or so with almost no larger economic benefit.

He also wants to expand the earned-income tax credit for childless adults, a fully refundable $3,000 child tax credit ($3,600 for kids under 6), a larger ObamaCare premium tax credit and a $4,000 child-care tax credit. This is Democratic social policy traveling as temporary Covid relief. Don’t be surprised if the tax credits all become permanent features of the tax code—and a disincentive to earn more at the risk of losing the credits as they phase out.

***
As a political matter, Mr. Biden’s timing couldn’t be more fortunate. The pandemic damaged the Trump Presidency, and now he is taking office as the vaccines are rolling out and a return to normal life is at least in sight. When the pandemic does ease, the economy is poised to take off without a single dollar more in government spending. Pent-up consumer demand—the savings rate is already double what it was pre-Covid—and the desire to socialize and travel again will lead to a sharp 2021 rebound even if Congress does nothing.

Yet to sell his plan Mr. Biden portrays the pre-Covid economy as some dystopia of haves and have-nots. The truth is that the jobless rate was 3.7%, wages were rising faster for average workers than for the affluent, and black and Hispanic poverty rates hit record lows in 2019. By the way, aggregate private wages and salaries were higher last November than in February as businesses increased wages, including for lower-paying jobs.

Mr. Biden needs GOP votes for this blowout to pass the Senate. Let’s hope Republicans use their leverage to shrink this Nancy Pelosi wish list down to actual Covid relief for the needy and speeding vaccines to end the pandemic.

https://www.wsj.com/articles/bidens-...nion_lead_pos1

Biden is a Fuck Up connoisseur. He'll create his own. Originally Posted by Levianon17

Biden doesn't care that much about Trump

Will he pile up the 8 trillion in 4 years that Trump did?

He just may because I doubt the old fucker is thinking about a 2nd term. Originally Posted by WTF

If not think of second term maybe have some balls them raise funds and cut spending like a good king would.

How he chose a worthless slut as Vice-President because she's female,black and totally unqualified. Originally Posted by littlerichard

Harris is just as qualified to be vice president as Sarah "airhead" Palin.

She was District Attorney of San Francisco, Atty General of Calif, two time Senator of Calif. What was Airhead Palin, a mayor of a town of 3,000 people?

How he handled the growth of Isis and their Caliphate. How he let North Korea become a Nuclear Power. How he sent billions to Iran.

You can't tell us anything that Biden ever accomplished. You can't tell us anthingy smart that Biden ever did Originally Posted by littlerichard

1. The growth of Isis is the fault of the leader of Iraq who would not share power with the other secs after the USA left. The Kurds were the only sect strong enough to protect themselves from Isis. It was Obama's generals who set the strategy to knock out Isis. Five of the six largest cities were recaptured before Obama/Biden left office. Just ask lusty lady boy lustylad.

2. Slick Willie Clinton let North Korea become a nuclear power.

3. The money that Iran got as part of the Iran nuclear bomb deal was THEIR money that was being held in escrow when the sanctions were put on. When Iran signed the bomb deal they go their money back and gave up 95% of their enriched Uranium. That's the U-235 uranium the radio active isotope of uranium that causes explosions. Obama/Biden cut a good deal. Iran had no chance of getting a nuclear for 10 plus years. Trump was stupid for getting out of the deal.

4. What did Obama/Biden do?

(a) Prevented a great depression by cleaning up the mess that Bush43 and Dick Cheney left behind when Wall had their melt down.

(b)25 million citizens got jobs. The unemployment rate went from 10 to 4.7 under Obama/Beiden

(c) 20 million got health insurance with the passing of the ACA

(d) The DJIA went from 7,000 points to 19,000 points under Obama/Biden a gain of 12,000 points. Everyone's 401k and Roth IRA went up, up and up.

(e) Obama/Biden got the Federal Budget deficit reduced to 580 billion when they left office. Under Trump the deficit is back to a Trillion.

(f) The GDP growth numbers under Obama/Biden are the same as Trumps. When Obama/Biden came into office the banking system had almost collapsed. The banking system was stable when Trump took office.

The hatred of teh DPST/CCP party is palpable. Originally Posted by oeb11

This statement is typical oeb11. Throw out a statement whose sole purpose is to be aggressive and mean.

And what's the point of this? It's like an arsonist showing up at his own fire to watch things burn or to see people get hurt.

This is typical online troll behavior.

1. The growth of Isis is the fault of the leader of Iraq who would not share power with the other secs after the USA left. The Kurds were the only sect strong enough to protect themselves from Isis. It was Obama's generals who set the strategy to knock out Isis. Five of the six largest cities were recaptured before Obama/Biden left office. Just ask lusty lady boy lustylad.

2. Slick Willie Clinton let North Korea become a nuclear power.

3. The money that Iran got as part of the Iran nuclear bomb deal was THEIR money that was being held in escrow when the sanctions were put on. When Iran signed the bomb deal they go their money back and gave up 95% of their enriched Uranium. That's the U-235 uranium the radio active isotope of uranium that causes explosions. Obama/Biden cut a good deal. Iran had no chance of getting a nuclear for 10 plus years. Trump was stupid for getting out of the deal.

4. What did Obama/Biden do?

(a) Prevented a great depression by cleaning up the mess that Bush43 and Dick Cheney left behind when Wall had their melt down.

(b)25 million citizens got jobs. The unemployment rate went from 10 to 4.7 under Obama/Beiden

(c) 20 million got health insurance with the passing of the ACA

(d) The DJIA went from 7,000 points to 19,000 points under Obama/Biden a gain of 12,000 points. Everyone's 401k and Roth IRA went up, up and up.

(e) Obama/Biden got the Federal Budget deficit reduced to 580 billion when they left office. Under Trump the deficit is back to a Trillion.

(f) The GDP growth numbers under Obama/Biden are the same as Trumps. When Obama/Biden came into office the banking system had almost collapsed. The banking system was stable when Trump took office. Originally Posted by adav8s28

You forgot some of the actual facts


Over all of Obama’s 96 months in office, the median jobless rate was 7.7 percent — the highest for any administration since the end of World War II.


Over Obama’s eight years in office, the economy added a net total of nearly 11.6 million jobs. That percentage gain is not as large as for most other administrations since the end of World War II.


Bush’s eight years were marked by two recessions, including one that began two months after he took office in 2001. That helps explain why job creation on his watch was by far the worst of any post-war administration.


The number of people receiving food aid under the Supplemental Nutrition Assistance Program (formerly known as “food stamps”) rose by a third under Obama.
In Obama’s last month in office, there were just under 42.7 million Americans receiving SNAP assistance, a gain of 10.7 million or just under 33.5 percent from January 2009.
At the peak of food stamp enrollment in December 2012, a total of 47.8 million were receiving aid, an increase of nearly 16 million or 49 percent.


On the day Obama left office, the U.S. government’s debt owed to the public was more than $14.4 trillion, an increase of more than 128 percent during his eight years.


Premiums for employer-sponsored health insurance (which covers nearly 56 percent of the population, according to Census figures) rose 43 percent under Obama for family policies, and 37 percent for policies covering a single person.


Under Obama, the worker portion of annual health insurance premiums rose by $1,923 for a family policy, and $408 for single coverage. Both those figures represented a 57 percent increase during his eight years in office.


Obama promised in his 2010 State of the Union address to “double our exports over the next five years.” That didn’t happen.


Murder rate didn’t drop at all — it was 5.4 per 100,000 both in 2008 and in 2016.

You forgot some of the actual facts


Over all of Obama’s 96 months in office, the median jobless rate was 7.7 percent — the highest for any administration since the end of World War II.


Over Obama’s eight years in office, the economy added a net total of nearly 11.6 million jobs. That percentage gain is not as large as for most other administrations since the end of World War II.

[/COLOR]
Obama promised in his 2010 State of the Union address to “double our exports over the next five years.” That didn’t happen.

Originally Posted by littlerichard

The bottom line is Obama/Biden prevented a great depression and saved the banking system. Lehman Brothers the USA and worlds largest investment bank at the time lost all of their money on credit default swabs and went bankrupt and no longer exists. Obama/Biden saved Wall street by giving TARP 625 plus BILLION dollars. You can pull up any unemployment chart you want, when Obama came in to office in Jan 2009 the unemployment rate was 10.00%. When Obama left office in Jan 2017 it was 4.7%. Fact Jack. You quote some figure about net gain of jobs and compared with going back to WW2. The only thing worse than the Wall street melt down of 2008 was the Great Depression of 1929.

Trump said he would do 4, 5, 6 per cent GDP growth after cutting the corporate tax rate 10 percentage points. Trump did NOT even do 3% GDP growth yet Trump claimed that he set a record.

Obama/Biden got the federal budget deficit down to 580 Billion, Trump increased it back to One Trillion with the tax cuts that did not pay for themselves.

I am not going get into your other stuff where you are looking at the same data in different way.

https://www.thebalance.com/us-deficit-by-year-3306306

https://www.thebalance.com/us-gdp-by-year-3305543

This statement is typical oeb11. Throw out a statement whose sole purpose is to be aggressive and mean.

And what's the point of this? It's like an arsonist showing up at his own fire to watch things burn or to see people get hurt.

This is typical online troll behavior. Originally Posted by txdot-guy

And it hasn’t changed one iota in well over a year.

When the rhetoric started getting tired, he began calling everything and everybody non-Trump a DPST, as a perjorative.

Then came the proud boys act, waving his gun and vowing acts of sedition, and maybe even murder.

Now he’s the victim.

Trumpism will die but will be replaced by something. Self-loathing trolls crave self-validation.

At least that’s what a lot of people are saying they're hearing from Comerade Vlad.

And it hasn’t changed one iota in well over a year.

When the rhetoric started getting tired, he began calling everything and everybody non-Trump a DPST, as a perjorative.

Then came the proud boys act, waving his gun and vowing acts of sedition, and maybe even murder.

Now he’s the victim.

Trumpism will die but will be replaced by something. Self-loathing trolls crave self-validation.

At least that’s what a lot of people are saying they're hearing from Comerade Vlad. Originally Posted by Yssup Rider

Projecting again?

I project again that America will be mucho smarter in 2 days when the pos hauls fat orange ass to hide away again. The whole world will know that America is not a shit hole corrupt country

Biden is a Fuck Up connoisseur. He'll create his own. Originally Posted by Levianon17

That's hilarious, Levi. Can't nobody fuckup like Donald Trump can fuckup. You're a funny guy, Levi.