The Greatest Story Never Told - The Biden Boom
Daily Kos, Oct. 30, 2023. Ed.
We received some good news on the economy last week that will make the MAGA Republicans very angry. United States GDP soared to a blockbuster 4.9% in the the third quarter of 2023. Thats the highest since the end of 2021 and a big increase from 2.1% growth in the second quarter.
Even Donald Trump was impressed by this report. Trump in 2018: You look at GDP at 3.2 percent, were doing so well
Nobody would have believed it
The robust growth was powered by optimistic consumers who continued to spend freely, despite higher interest rates. The GDP report was a far cry from the recession that the mainstream press has been predicting for the last 2 years. Strong economic growth under the President. Time for all the people calling a recession to acknowledge Joe Biden made the right calls in 2021/22!! Ron Klain, former White House Chief of Staff.
I never believed we would need a recession to bring inflation down and today we saw again that the American economy continues to grow even as inflation has come down, President Biden said in a statement on October 26 on the new GDP report. It is a testament to the resilience of American consumers and American workers, supported by Bidenomics.
The U.S. economys continuing strength has been largely ignored by the mainstream press. Fox News and other outlets in the GOP media have been relentlessly running down the economy and the country..The Huffington Post on Oct. 26 did a great report on the current status of the economy: Simply by the numbers, the U.S. economy is not only better than expected, its also in many ways doing better than it was before the pandemic, a period Trump has liked to call the best economy in the history of the world....
https://www.dailykos.com/stories/2023/10/30/2202494/-The-Greatest-Story-Never-Told-The-Biden-Boom
AllaN01Bear
(18,578 posts)appalachiablue
(41,184 posts)we are to have Joe Biden as president, amen. People who don't appreciate this may regret it later.
calimary
(81,550 posts)Theyll all be on the bandwagon then, and talk about how they really did support him and thought he was so wonderful and blah blah blah.
And itll be useful to remember whether they were with us or against us. Cuz theyll flip back to the dark side as soon as they think its safe to do so.
usonian
(9,920 posts)Joe Biden is overturning the old school of "trickle down" economics, proven bogus in scientific papers.
This is the economic theory that created the "One Percent" economy.
Broad-based wealth creates a stable and strong country.
The people bitching about "how bad things are" are the ones who sucked wealth out of the economy into yachts and offshore palaces.
Hermit-The-Prog
(33,510 posts)appalachiablue
(41,184 posts)czarjak
(11,304 posts)Said The Donald. One of the few times he was right.
Motley Michelle
(17 posts)Since 1969, all recessions have been under Republican presidents save one, and that was when Jimmy Carter was in the White House. But try to tell that to a Republican. All of a sudden, they lose their hearing or sight, or internet crashes.
Nixon: Recession of 19691970
December 1969 November 1970
Nixon > Ford: 19731975 recession
November 1973 March 1975
Carter: 1980 recession
January 1980 July 1980
Reagan: 19811982 recession
July 1981 November 1982
Poppa Bush: Early 1990s recession
July 1990 March 1991
Poppa Bush: Early 2000s recession
March 2001 November 2001
Dubya (George W Bush): Great Recession
December 2007 June 2009
The Former Guy, #45, Cult leader (yeah, trump): COVID-19 recession
February 2020 April 2020
Source: https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States
appalachiablue
(41,184 posts)FakeNoose
(32,833 posts)I seem to recall that, but maybe I'm wrong. In 1980, things went south when the hostages were taken by Iran, and Carter didn't have much opportunity to campaign for re-election. Meanwhile Reagan made hay against Carter every chance he got. It was like Carter had one hand tied behind his back.
CharleyDog
(758 posts)for him. Yet, I wish he would talk more, talk often about prices at the grocery store, call out the price gouging, shame them. Use his bully pulpit. Regular people have to shop for groceries and everything is so insanely expensive.