Summary
President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.
December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.
However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.
Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.
I suppose I’m happy for the economy. I mean, I’m glad it’s doing better than ever, I guess, but I’ve got my own issues. Sorry if that sounds selfish, but it’s just hard for me to get too excited for the economy when I’m stressed about my own situation.
They made a typo they meant the stock market not the economy.
No no no, they added jobs*
*Uber drivers
Illegal taxi service! Why didn’t I thnk of that!
That’s because the economy is wholly disconnected from the real lives of working Americans. Aside from 401k, job gains could just be shifting around of people from job to job. If you are in the job market, it still feels grim. The cost of groceries, energy, housing, healthcare, schooling still remain high. And that’s what Americans really experience. A reduction in inflation doesn’t mean prices went down, it just means the increases slowed down by 2.7%. And the fact that democrats are completely incapable or unwilling to have this conversation, is why democrats continue to lose enthusiasm every time there’s an incumbent democrat election. Obama was an exception because of how skilled a politician he was and how weak the Republican opposition was at the time.
“What has the economy done for me lately?”
Hard to think of much lately other than give me false hope about my retirement options.
When the media or politicians report on ‘the economy’ they mean wealthy people’s money in investment capital and financial instrument earnings, not wages or savings for the working class.
‘Than Ever’
dude was a senator starting at 1972.
he’s been an active participant in this
Sure, a massive disaster caused by trump et all fucking things up was recovered from. But that’s not really Biden’s doing, except in the most ephemeral of senses
What good is that when we couldn’t sentence the clown coming into office that is going to dismantle whatever gains we might make.
Fuck the economy when garland let trump go. That’s biden’s fault. I will always remember Biden for that.
Yeah, great, I’m so impressed. I’ll quit one of my jobs. Thanks biden.
He’s living in a separate economy 🙄 it’s no wonder the Dems lost.
In this theead: A whole lot of people who don’t understand that deflation is awful.
That’s fine, we’ve got other options. Let’s just see how big the disconnect needs to get before we start taking them.
Deflation is fine. Plenty of countries have been through deflation and they haven’t exploded. Japan is probably the best example.
According to traditional economic indicators, that’s a true statement. There is an issue with traditional economic indicators however.
Any steady hand would have accomplished this.
The gloating, however, reminds me of my labor union’s incessant self-promotion of how their contract negotiating skills got us a 1.5% increase in a year where the prime rate stood at about 8%.
Stockmarket does not determine inflation, cost of living does and we can barely afford food. Joe didn’t do shit, he maintained statues quo for the elite class. Eat the rich
The state with the highest GDP in America is literally on fire on his way out…
To be fair… that State is on fire pretty regularly, the President has nothing to do with that, the shitty utilities not maintaining infrastructure properly are usually to blame.
Do you think the President is Smokey the Bear or something?
Natural disaster! Must be that damn Biden’s fault! /s
I blame him for the genocide but not the fires.
Tell him he did it… He finally “beat medicare” and can go rest.
Suck my dick.
