Economists now admitting Biden's pork spending will hurt America for decades

marke

Well-known member
That definitely factors into the equation. If the federal government spent more tax dollars and less deficit money, that would mean less inflation.

By the way, when you speak of "Biden's pork spending" what exactly are you referring to?
Do you think there are separate bank accounts that could be labeled separately as "tax dollars" and "deficit money?" If you do not understand what the term 'pork spending' means then I suggest you do a Google search.
 

marke

Well-known member
Americans who think trading Biden for Trump must be ignorant of the dangers that democrat policies impose on the US economy. Because of massive stimulus spending during Biden's first months the US is encountering economy-busting inflation which will likely only get worse and not better in the foreseeable future.

More U.S. economists are starting to publicly warn of rising inflation, with renowned economist Mohamed El-Erian saying he worries “a great deal” that inflation will not be transitory and arguing that there’s too much “on-the-ground evidence” that it will stay high.
In a recent op-ed in the Financial Times, El-Erian, who is one of the most widely followed economists, said central banks and markets need to “widen their perspective” to avoid significant damage to the economic and financial system.
El-Erian began his op-ed by stating, “It is not often that I take a very strong view that runs directly counter to the market consensus.”

Inflation: That pesky financial threat democrats refuse to believe is caused by excessive government spending. Why do republicans oppose so many democrat plans to spend trillions of dollars on things only democrats think are important? Because spending trillions of dollars the government does not have will require increased printing of US dollars that are not backed by increases in domestic production of goods and services. As long as democrats continue the course of reckless spending and excessive taxation the US economy will continue to decline. Those are fiscal facts backed by inviolable fiscal laws.

The consumer price index (CPI) in May rose by 5 percent from a year ago, surprising many economists. Fitch Ratings expects inflation to fall in 2022. But in a recent report, the credit-ratings firm warned that rent and wage inflation could pick up significantly next year, posing a risk to the economy.
 

ok doser

Well-known member
:sneaky: You err in assuming that Trump has changed. I've watched him since I was a child, growing up in New Jersey/New York doesn't give you much choice in the matter.

Trump is Trump....This is Trump being a Real Estate Mogul, this is Trump being a New York Liberal, this is Trump being a Reality TV Star, and that was Trump being a Populist Political Animal and Realpolitik "Wheeler Dealer".

Narcissism?....Oh yea, and maybe even with some psychopathology thrown in (I can see the case for it but I think sociopathy would be more accurate.)

Dementia?....LOL, you (and a lot of others) wish. 😝
Blast from the past, when Baba Wawa held sway

 

marke

Well-known member
Back in 1999, Trump was saying things like "The Republican Party is just too crazy right [wing]" and so forth, but the fact of the matter is that the Republican Party of 1999 was much saner than it is now under Trump's thumb. So what went wrong?

I think that Trump's age-related dementia decided to throw a party with his already psychopathic narcissism. The result was what we've seen from him over the past 5+ years. But in the process of going pseudo-populist, Trump has made himself something of an enemy of the system. The system is now forced to reel him in.
Democrats lie when they claim massive spending will not hurt the US. The debt ceiling is due to be addressed again in just a few days and Yellen told Congress that if the debt ceiling was not raised the US would be in serious risk of going bankrupt and not being able to pay its bills. Politicians raising the government debt ceiling is like a private citizen awarding himself massive increases in his borrowing credit line without paying his existing debt down at all.

Treasury Secretary Janet Yellen warned congressional leaders Friday that failing to raise the debt ceiling would risk “irreparable harm to the U.S. economy and the livelihoods of all Americans.”
 

marke

Well-known member
Are economists now admitting Trump's pork spending will hurt America for decades? Another 3 trillion dollars in debt
I would hazard to guess that fiscal experts will claim every dime spent that is not backed by tax receipts is adding to the debt which is now threatening our whole economy and future. That includes the $3 trillion in debt you blame Trump for as well as the five or six times greater debt added under Biden and Obama.
 

User Name

Well-known member
Temp Banned

marke

Well-known member
"The national debt has risen by almost $7.8 trillion during Trump’s time in office."

"The national debt has risen by almost $7.8 trillion during Trump’s time in office."

That is raising alarms among intelligent and informed financial experts, but not among democrats. Why are democrats now fighting republicans to pass more than $3 trillion in additional spending while we are
"The national debt has risen by almost $7.8 trillion during Trump’s time in office."

The national debt rose from $10.01 trillion when Obama took office to $19.560 trillion when Trump took office. When Biden came to power the debt was $26.938 trillion and in just the first 6 months of the Biden administration the debt has risen to $28.56 trillion with democrats proposing more than $3 trillion in additional spending already. The debt will bankrupt our nation if our politicians do not find a way to start paying down our debt just like every taxpayer and business in the nation must do to avoid bankruptcy.
 

marke

Well-known member
Are economists now admitting Trump's pork spending will hurt America for decades? Another 3 trillion dollars in debt
Janet Yellen is exacting emergency measures right now in order to stave off the collapse of the US economy due to the unsustainable debt we are now stuck with. Congress has no realistic plan to save America from bankruptcy and Yellen's emergency measures are just kicking the can down the road for a few more months. Nobody knows how America will recover from this serious state of fiscal indebtedness. Democrats are stupid to keep adding trillions to the debt with no plan for paying back any of the money it is borrowing to do so.

The federal government has never defaulted, as such a move would have far-reaching consequences for the economy. Although economists said they’re optimistic Congress will reach a deal on the debt ceiling, the prospect appears less certain in Washington.
A bipartisan group of lawmakers in the Senate are seeking to pass a trillion-dollar infrastructure bill while Democrats are considering a separate $3.5 trillion reconciliation bill later this year.
An aide to House Democratic leadership told CNBC that discussions about the ceiling are ongoing and congressional leaders do not want to risk the “full faith and credit” of the U.S. government.

 

marke

Well-known member
Americans who think trading Biden for Trump must be ignorant of the dangers that democrat policies impose on the US economy. Because of massive stimulus spending during Biden's first months the US is encountering economy-busting inflation which will likely only get worse and not better in the foreseeable future.

More U.S. economists are starting to publicly warn of rising inflation, with renowned economist Mohamed El-Erian saying he worries “a great deal” that inflation will not be transitory and arguing that there’s too much “on-the-ground evidence” that it will stay high.
In a recent op-ed in the Financial Times, El-Erian, who is one of the most widely followed economists, said central banks and markets need to “widen their perspective” to avoid significant damage to the economic and financial system.
El-Erian began his op-ed by stating, “It is not often that I take a very strong view that runs directly counter to the market consensus.”
Sen. Ernst is introducing an amendment to the secretive democrat infrastructure tax bill to force Congress to publicize the particulars of the bill for the sake of transparency she says Congress needs to exhibit to American taxpayers who are on the hook to come up with enough extra taxes to pay for the huge increases in costs. Thank God for Ernst and her good common sense, honestly, and responsibility as a worthy representative of the taxpayers of America.

Sen. Joni Ernst is pushing last-minute changes to President Biden’s $1.2 trillion infrastructure package to increase transparency and ensure taxpayer dollars are not wasted.
Ms. Ernst, Iowa Republican, has offered a series of amendments to the infrastructure bill amid revelations that it is not fully paid for as the White House promised.
“The American people want new roads and bridges, not more bottomless boondoggles,” said Ms. Ernst. “Taxpayers are fed up with the federal government doling money out to rail and transit projects that go nowhere.”
To that end, Ms. Ernst is pushing an amendment to fully disclose the cost of the $1.2 trillion package to voters. She argues such transparency is needed because the 2,702-page bill was crafted behind closed doors for months and only made available to the public last week.
Despite the timing, Senate Majority Leader Charles E. Schumer is rushing to hold a final vote on the deal sometime this weekend. Most Republicans say they have not had enough time to review the bill, let alone endorse it.
 

marke

Well-known member
Americans who think trading Biden for Trump must be ignorant of the dangers that democrat policies impose on the US economy. Because of massive stimulus spending during Biden's first months the US is encountering economy-busting inflation which will likely only get worse and not better in the foreseeable future.

More U.S. economists are starting to publicly warn of rising inflation, with renowned economist Mohamed El-Erian saying he worries “a great deal” that inflation will not be transitory and arguing that there’s too much “on-the-ground evidence” that it will stay high.
In a recent op-ed in the Financial Times, El-Erian, who is one of the most widely followed economists, said central banks and markets need to “widen their perspective” to avoid significant damage to the economic and financial system.
El-Erian began his op-ed by stating, “It is not often that I take a very strong view that runs directly counter to the market consensus.”
Democrats are poised to pull off the biggest heist of taxpayer funds in the history of America. While they chortle with greedy glee, Americans are facing the certainty of future tax hikes, inflation, a deeply depressed economy, loss of and economic opportunities, and serious loss of freedoms. Politicians have been guilty of decades of legislation that was bad for America but good for themselves for personal benefits they gained from the unaudited movement of billions of dollars in 'free' Federal monies. This latest money grab by dirty politicians will spell the end of America as we have known it.

The Senate passed the $1 trillion-plus bipartisan infrastructure bill Tuesday, meeting a goal that lawmakers have been reaching toward for months. ...
But it is by no means a layup at this point to make it to Biden's desk – the bipartisan infrastructure bill faces a rocky path through the House of Representatives with a litany of potential pitfalls. ...
Chief among them is the fact House Speaker Nancy Pelosi, D-Calif., has sworn up and down she will not touch the infrastructure bill until the Senate gives her Democrats' $3.5 trillion spending wish list under budget reconciliation.
 

marke

Well-known member
Deficit spending always goes through the roof when there is a Republican in the White House, but Republicans generally don't care about that until a Democrat becomes president:

It looks like Americans, both republican and democrat, are blaming Biden for the rapidly rising inflation that is robbing Americans of buying power and wealth.

For months, the Biden administration assured Americans that rising inflation is "not a problem" to fear amid the recovery from the coronavirus recession. Infusing multitrillion-dollar spending bills into the economy would not have a significant inflationary impact, the administration claimed, even as economists and Republican lawmakers questioned these assertions.
Later, when forced to acknowledge the fact that inflation is indeed rising, the administration pivoted to claim the increase is only "transitory," unavoidable, and — get this — preferable. Mainstream news outlets nodded their heads and parroted the message. Economists again responded with raised eyebrows.
But the administration's explanation may need to be adjusted again.
A Harvard economist broke the news to CNN recently that wage gains wrought by coronavirus relief packages have been completely wiped out by soaring inflation in the months since President Biden took office
 
Top