It's an editorial. Editorials are opinions, and tend to be looked at as facts to some, and non-facts to others, depending on the person's opinion!
That does not take into account the fact that he served only 4 yrs, while other big spenders like Reagan served 8. Trump spend in 4 yrs about the same as Obama did in 8, and ironically he campaigned on paying off the debt. I am not voting for either, but unfortunately unless Biden steps down, we will get one or the other
There is no "Blame Game". Building debt has been by design, for the Republican Party, since 1974, but mostly a little later, starting with Reagan. It was at that time that they invoked the "Two Santa Claus Theory". https://www.salon.com/2018/02/12/th...c-to-con-america-for-nearly-40-years_partner/ First, when Republicans control the federal government, and particularly the White House, spend money like a drunken sailor and run up the US debt as far and as fast as possible. This produces three results – it stimulates the economy thus making people think that the GOP can produce a good economy, it raises the debt dramatically, and it makes people think that Republicans are the “tax-cut Santa Claus.” Second, when a Democrat is in the White House, scream about the national debt as loudly and frantically as possible, freaking out about how “our children will have to pay for it!” and “we have to cut spending to solve the crisis!” This will force the Democrats in power to cut their own social safety net programs, thus shooting their welfare-of-the-American-people Santa Claus.
And they are fighting the wrong thing. They are fighting private spending when they should be fighting government spending.
Still looking good! April 5, 2024 Jobs grew at a brisk pace in March, but wage growth was contained, confirming a belief among economists that the U.S. can continue to expand employment without fanning inflation. U.S. employers added a seasonally adjusted 303,000 jobs in March, the Labor Department reported Friday, significantly more than the 200,000 economists expected. The unemployment rate slipped to 3.8%, versus February’s 3.9%, in line with expectations... Fed Chair Jerome Powell in recent months has signaled, however, that he no longer regards strong hiring as something to fear. That is because the labor force has been growing steadily, largely due to a strong rebound in immigration. As a result, brisk hiring isn’t stoking concern on Powell’s part that the economy is at significant risk of overheating. “The economy actually isn’t becoming tighter, which it ordinarily would. It’s actually becoming a little looser, and you’re seeing inflation come down—very unusual situation,” Powell said on Wednesday. [https://www.msn.com/en-us/money/markets/us-economy-added-303000-jobs-in-march/ar-BB1l7JyC]
The Biden team has demonstrated that they know how to keep our country on a positive track. When I compare to the mismanaged COVID crisis of 2019 and 2020, the unrest on the streets of the US, and the $8 Trillion in debt incurred under Trump; Biden is a God-send.
Meanwhile the U.S. economy continues to thrive! The US Chips Act has not only been a success - it’s sparked a multibillion-dollar investment boom Chip companies and supply chain partners have announced investments totalling $327 billion over the next 10 years, according to Semiconductor Industry Association calculations. US statistics show a stunning fifteenfold increase in construction of manufacturing facilities for computing and electronics devices. Biden's laws are pouring billions into new infrastructure, and it could be a rare opportunity to make communities safer and more sustainable
Some refuse to admit that things are generally going quite well. The U.S. crime rate is still dropping, FBI data shows The new fourth-quarter numbers showed a 13% decline in murder in 2023 from 2022, a 6% decline in reported violent crime and a 4% decline in reported property crime. That’s based on data from around 13,000 law enforcement agencies, policing about 82% of the U.S. population, that provided the FBI with data through December. March 19, 2024
An MSN article? Give me a break. While I support the chips act it doesn’t mean it’s even close to a success yet. The outcome of that will be proven in time but there is no possible way you can call it a success yet. The chips act also is not some sort of single indicator of the economy. That’s asinine to say the least and highly ignorant as well. If the economy was so great why are stocks starting to shy away from highs, the fed not reducing interests, inflation continues to be stubborn. Housing through the roof and only affordable to the middle class in seven major cities. Biden’s economy is a complete failure
Trump promises to make infrastructure a major focus Trump’s infrastructure plan hits a dead end How Biden Got the Infrastructure Deal Trump Couldn’t It is true that the benefits of the Chips Act and the Infrastructure Investment and Jobs Act will only be fully realized over time, but there is no denying the positive data. U.S. economy adds 175,000 jobs in April GDP set to top 2% again, extending hot streak for U.S. economy The US stock market is flashing bullish signals as inflation continues to cool down, according to Fundstrat's head of research Tom Lee. The S&P 500 has been hovering above its 200-week moving average for the last 25 weeks, and in the 12 instances that has happened since 1950, the S&P 500 has moved higher every time. US Investor Sentiment, % Bullish is at 44.55%, compared to 29.05% last week and 32.02% last year, indicating that a higher percentage of investors surveyed had a bullish outlook on the market. https://ycharts.com/indicators/us_investor_sentiment_bullish
As of May 2, 2024, there are still plenty of people trying to get into the semiconductor industry who cannot get jobs. related thread worth reading: DEI killed the CHIPS Act (posted in Political Opinions & Beliefs, by 19Crib, March 11, 2024) I was listening on the radio to an interview done with a college graduate young woman who had just gone through a special training and mentorship program oriented towards getting into the semiconductor industry. She sent out many resumes but so far has been unable to get any job offers. If this continues too much longer, she might have to look to another industry. This was just a couple of days ago. There have been several announcements recently about layoffs from semiconductor and computer companies. Intel Layoffs Impact 62 Jobs At California HQ CRN Magazine April 9, 2024 - "Intel disclosed that recent layoffs in the Sales and Marketing Group will impact 62 positions at its headquarters in California." "Qualcomm, a semiconductor company, announced it would lay off 1,258 workers in December." Oregon's semiconductor industry stumbled last year, cutting jobs by 5% OregonLive.com February 4, 2024 - "A 7% layoff at Lam Research, if distributed evenly across the company's work sites, would have resulted in a layoff of roughly 300 Oregon workers." Tech Layoffs 2024: Peloton CEO Steps Down As Company Cuts 400 Jobs "As of May 3, some 274 tech companies have laid off 79,852 workers in 2024, according to layoffs.fyi. Amazon saw the most workers laid off in 2023 (27,410 workers) followed by Meta (21,000), Google (12,115) and Microsoft (11,158 ). March 2024 tech layoffs - On March 25, Dell Technologies Inc. laid off about 6,000 workers as part of its efforts to cut costs and restructure employees. It's the second mass layoff for the company this year. Google reportedly laid off another 200 people in its "Core" unit at the end of April (2024), according to CNBC. Some of the roles will be moved to Mexico and India."
You are aware that the Democrats were the ones who managed that COVID crisis in 2019 and 2020? Trump may have been President, but Democrat state governors were the ones responsible for implementing the shutdown, and the Democrats held a majority in Congress during Trump's last 2 years. And not only that, but Trump pretty much went along with any COVID spending the Democrats wanted, very generously and liberally, even to the point of drawing ire from many Republican leaders. Seems rather dishonest to try to blame Trump for that. You might even remember at the very start of the Covid crisis when the whole Democrat-supporting media bitterly criticized Trump for cutting off travel to China (where Covid originated) accusing him of "xenophobia". How quickly everyone forgets.
But most of those jobs are either low-wage, or in government or healthcare. This is worrying. March jobs report: health care and government sectors added the most workers Transportation and warehousing as well as manufacturing were at the bottom of the list March jobs report: healthcare and government sectors added the most, Fox Business by Megan Henney, April 5, 2024 Just three sectors accounted for almost all the job growth in November Nearly all of the job growth in the economy in November came from just three sectors: health care, government employment, and leisure and hospitality. Just 3 sectors accounted for almost all the job growth in November, Axios.com by Emily Peck, December 11, 2023
In the thriving economy, more workers are clearly needed. The Healthcare Industry Is Crumbling Due To Staffing Shortages A national shortage of construction workers is driving high home prices. Hospitals grapple with radiologist shortage Farm worker shortages are already pervasive. Average salaries and wages in the United States have been increasing year after year. The national average salary in the U.S. in Q4 of 2023 was $59,384, according to the U.S. Bureau of Labor Statistics.1 With it's sustained high employment, global immigration does not exempt the United States. The rich world is in the midst of an unprecedented migration boom. Last year 3.3m more people moved to America than left, almost four times typical levels in the 2010s. Canada took in 1.9m immigrants. Britain welcomed 1.2m people and Australia 740,000. In each country the number was greater than ever before. For Australia and Canada net migration is more than double pre-covid levels. In Britain the intake is 3.5 times that of 2019.
I'd imagine most of those "farm workers" and "construction workers" are immigrants barely capable of speaking English and paid not much above minimum wage. Of course there would be a shortage of them, because Trump blocked a lot of illegal immigration, then the Covid pandemic hit and the government continued blocking immigration during the first 8 months of Biden, while the country will still "opening up" and "recovering". And home building had come to a complete halt for 2 years during the pandemic. (Lack of construction workers is only a very small part of the reason home prices are so high, by the way) I can tell you this: If employers were required to pay for health insurance for their workers, suddenly the "shortage" would end. That was Trump's policy proposal, by the way, require employers to provide health insurance for their immigrant workers, something the Democrats opposed and blocked. I also doubt there's a radiologist shortage more than a shortage of any other doctors. Maybe hospitals are just saying this because many of them want to outsource their radiology work to doctors in India. It's much cheaper to email the X-ray image to someone in India and have them interpret what it means. Though that is a separate discussion besides the main point. Now let me ask you this: Are there a shortage of any workers for jobs that pay more than $20 per hour and do not require more than 4 years of education or training after high school? I think a lot of Americans might be interested in those jobs, whatever they are, if they exist. In fact I think there'd be long lines of Americans willing to work for $8 an hour, if the employer would also provide them with free housing and health insurance.
In a thriving economy, construction workers would be able to afford to buy the new homes they are building. You and I both know this is not the case.
"The robbery rate rose by 2% from 2022 to 2023, representing 1,206 additional incidents in the study cities." "The new analysis shows that across 32 study cities, the homicide rate was 18% higher in 2023 than in 2019, but fell by 10% from 2022 to 2023 " Crime Trends in U.S. Cities: Year-End 2023 Update - Council on Criminal Justice (counciloncj.org)