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#31
Quote from: DKG on Today at 10:12:07 AMYou mean Democrats cannot be RAYCIS.
I'm not sure. I do know the rules are subject to change tho!
#32
Quote from: Lokmar on Today at 09:59:49 AM"Chris the nigger" Damn, caught in a brown on brown hate crime! Wait, brown peepoe cant be RAYCIS!You mean Democrats cannot be RAYCIS.
#33
Without a doubt, Bidenomics has been a disaster for American families, with no relief in sight as the November election approaches. Yet, Joe Biden and his supporters have done everything they can to gaslight and spin their economic disasters and the country's overall economic malaise into a cause for celebration.
One cheerleading Democrat after another has tried to manufacture an alternate reality. Pay no attention to your skyrocketing bills. Never mind the tech layoffs. Inflation? What inflation? Perhaps the most outlandish spin so far comes courtesy of Brian Beutler, a senior editor at the New Republic, in a Substack essay titled, "Biden Beat Trumpflation and the Trump Crime Wave."
Beutler tries to bend reality from the start. "Trumpflation" — really? When Joe Biden took office in January 2021, inflation was running about 1.4% annually. In fact, under Donald Trump's tenure, then-Federal Reserve Chairwoman Janet Yellen said at one point that inflation was too low. And in May 2021, after Trump was out of office, Yellen, now helming the Treasury Department, said she didn't see any inflation problem ahead.
While year-over-year inflation measures peaked under Biden in June 2022 at around 9.1%, cumulative increases since he took office are nearly 20% as measured by the Consumer Price Index, with the real impact felt by consumers even more severe.
Speaking of his liberal friends, Beutler laments, "I don't know any who doubt my premise: Republicans would love to inherit this economy. They'd brag about how it became good the moment they took charge, and they'd quickly reap the political spoils." We have already established that the author and Democrats are both decoupled from reality, but wanting to inherit this economy? My goodness.
Nobody wants to inherit this economy.
Biden has not only fueled massive inflation but also embellished economic growth figures, which are now declining, with the first quarter GDP coming in nearly a percentage point lower than expected.
Growth in large part has come a result of the government running massive deficits. The U.S. deficit-to-GDP is currently around double the historic average. It is highly unusual for deficits to be that large when the economy is showing growth. More tax receipts should cut deficits. In an unfortunate turn of events, the Biden administration has done the opposite — it used deficit spending to create growth, something that has been done at an incredible cost to taxpayers, with interest rates near 15-year highs.
This has created a national debt nearing $35 trillion with interest expense at a $1.7 trillion run-rate. If nothing shifts in terms of spending or interest rates, debt service will soon become the largest individual government expenditure.
It gets worse, believe it or not. The Biden administration has weaponized the U.S. dollar, and we are now facing an acceleration of central banks and governments trying to reduce their dependence on the dollar as a reserve currency, which will ultimately make financing the U.S. government more expensive.
Americans are also contending with record-high household debt and a dwindling personal savings rate, coming in at less than half of the historic average for the first three quarters of the year, ending March 2024 at 3.2%.
On top of that, key provisions of the Tax Cuts and Jobs Act of 2017, including the lower individual tax rates, begin to expire at the end of 2025.
Whoever wins in November will need to contend with addressing that as well.
While living in a fantasy world is the Democratic Party's strong suit, let me say that nobody, and I mean no one, should want to inherit this fiscal mess. That is reality, and there is no way to spin it.
One cheerleading Democrat after another has tried to manufacture an alternate reality. Pay no attention to your skyrocketing bills. Never mind the tech layoffs. Inflation? What inflation? Perhaps the most outlandish spin so far comes courtesy of Brian Beutler, a senior editor at the New Republic, in a Substack essay titled, "Biden Beat Trumpflation and the Trump Crime Wave."
Beutler tries to bend reality from the start. "Trumpflation" — really? When Joe Biden took office in January 2021, inflation was running about 1.4% annually. In fact, under Donald Trump's tenure, then-Federal Reserve Chairwoman Janet Yellen said at one point that inflation was too low. And in May 2021, after Trump was out of office, Yellen, now helming the Treasury Department, said she didn't see any inflation problem ahead.
While year-over-year inflation measures peaked under Biden in June 2022 at around 9.1%, cumulative increases since he took office are nearly 20% as measured by the Consumer Price Index, with the real impact felt by consumers even more severe.
Speaking of his liberal friends, Beutler laments, "I don't know any who doubt my premise: Republicans would love to inherit this economy. They'd brag about how it became good the moment they took charge, and they'd quickly reap the political spoils." We have already established that the author and Democrats are both decoupled from reality, but wanting to inherit this economy? My goodness.
Nobody wants to inherit this economy.
Biden has not only fueled massive inflation but also embellished economic growth figures, which are now declining, with the first quarter GDP coming in nearly a percentage point lower than expected.
Growth in large part has come a result of the government running massive deficits. The U.S. deficit-to-GDP is currently around double the historic average. It is highly unusual for deficits to be that large when the economy is showing growth. More tax receipts should cut deficits. In an unfortunate turn of events, the Biden administration has done the opposite — it used deficit spending to create growth, something that has been done at an incredible cost to taxpayers, with interest rates near 15-year highs.
This has created a national debt nearing $35 trillion with interest expense at a $1.7 trillion run-rate. If nothing shifts in terms of spending or interest rates, debt service will soon become the largest individual government expenditure.
It gets worse, believe it or not. The Biden administration has weaponized the U.S. dollar, and we are now facing an acceleration of central banks and governments trying to reduce their dependence on the dollar as a reserve currency, which will ultimately make financing the U.S. government more expensive.
Americans are also contending with record-high household debt and a dwindling personal savings rate, coming in at less than half of the historic average for the first three quarters of the year, ending March 2024 at 3.2%.
On top of that, key provisions of the Tax Cuts and Jobs Act of 2017, including the lower individual tax rates, begin to expire at the end of 2025.
Whoever wins in November will need to contend with addressing that as well.
While living in a fantasy world is the Democratic Party's strong suit, let me say that nobody, and I mean no one, should want to inherit this fiscal mess. That is reality, and there is no way to spin it.
#34
"Chris the nigger" Damn, caught in a brown on brown hate crime! Wait, brown peepoe cant be RAYCIS!
#35
Quote from: Biggie Smiles on Today at 09:48:40 AMOh wait.. that's not Trump it's just another phony BLM supporting democratBiden has got so many free passes over the past five decades of spewing ignorant racism from his sewer.
Remember when I told you guise that scumbags on the left will ALWAYS accuse others of exactly that to which they themselves are guilty?
https://justthenews.com/government/congress/rep-gabe-vasquez-used-racial-slur-2004-phone-call-former-colleague-report
And look at Canada. Trudeau has a long history of racial taunts and he accuses the leader of the Conservative Party of courting racists.
#36
Quote from: Shen Li on Today at 12:55:04 AMCanada is so screwed. A change of government will certainly help, but it won't fix everything.That is the cold hard reality that nine years of arrogant economic incompetence and authoritarianism has put us in. Canadians will get some immediate relief when Pollivere is pm. The carbon tax will be history. Bills C-49 and C-60 will be repealed. Same with C-10 and C-18.
It will be trickier reducing the bloated size of the federal government. One of the biggest expenses under Trudeau has been interest on the debt. There will be fierce opposition to reduce wasteful spending.
Immigration will be another issue that it will be hard to restore sanity.
#37
The Guest Nest / Finally! Proof of Trump using ...
Last post by Biggie Smiles - Today at 09:48:40 AMOh wait.. that's not Trump it's just another phony BLM supporting democrat
Remember when I told you guise that scumbags on the left will ALWAYS accuse others of exactly that to which they themselves are guilty?
https://justthenews.com/government/congress/rep-gabe-vasquez-used-racial-slur-2004-phone-call-former-colleague-report
Remember when I told you guise that scumbags on the left will ALWAYS accuse others of exactly that to which they themselves are guilty?
https://justthenews.com/government/congress/rep-gabe-vasquez-used-racial-slur-2004-phone-call-former-colleague-report
#38
Quote from: Shen Li on May 29, 2024, 11:49:39 PMSeamunchkin's caregiver must've given him too many liquefied prunes.He can't figure out how to login, so it makes sense he can't change his own Depends.
#39
Quote from: Odinson on Today at 09:05:54 AMYou should become a trucker.Most of the time they are driving through concrete jungles.
I´m envious of the guys who get to haul cargo through those vast distances and open plains of the USA.
Buy your own semitruck and haul cargo.
#40
Quote from: Blazor on Today at 12:56:54 AMLol, that's awesome.Are you still working every Saturday?
I feel like Im in good shape, and I feel fairly smart, lots of folks seem to think I am too. I just haven't found the right career for me yet, and that's sad, at my age, I think. I've never wanted to be rich, but I thought my Graphic Design stuff would take me places. After 20 years, I feel kinda done with that. I want something more, but I don't know what. At my current job, I feel like just a cog in the wheel. I have dumbass supervisors, so I don't feel like I will ever achieve grander status as long as Im under them, cause I see how they are. I think I've entered that so called "mid life crisis" shit I heard about hahahahaha.