Unemployment is 3.9 percent

[Into the Night]

I agree with most of your points, but:



The budget has been balanced many times.
Though not nearly as often as it should have been.

https://www.polidiotic.com/by-the-numbers/us-federal-deficit-by-year/

Nope. It has NEVER been balanced. The chart you give does not include social program spending nor post office spending.

 

[Into the Night]

First - I despise both parties.
Trump is a manchild.
And Biden is a boring, career politician whom is slowly, going senile.
Congress is beyond useless.
Both houses.
Both sides.

Second - this month's bls jobs report IS a solid one, IMO.
Look at all of the main and important statistics?
And they have improved.
Dozens of them.

Any Biden-haters whom say otherwise are simply wrong.
It's a good, solid, jobs report.

Third - however?
In the last six, recorded months of government spending/receiving?
The federal government has increased the deficit by over a trillion dollars.
https://www.fiscal.treasury.gov/files/reports-statements/mts/mts.pdf

And the Federal Reserve's balance sheet has increased by over $800 billion dollars.
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

That is $1.8 trillion total...in just six months.
Equal to over $5,400 for every, single American (adult and child).

Any moron can grow an economy by throwing absolutely, HUGE, FUCKING SHITLOADS of government/Fed debt at it.
That takes NO SKILL whatsoever.
NONE.
(Trump sucked at it as well, BTW. Though not this badly. So did Obama and GWB...though neither as badly as the first two.)

When 'Biden' can improve the unemployment situation by living 'within his means'?
THEN and ONLY THEN will I be impressed.


And please save the old 'Biden has to stimulate the economy during Covid-19' excuse?

There is ZERO unbiased, factual evidence that throwing HUGE sums of money at an economy is the only way or even a decent way to stimulate it.

Look at the 1920/21 depression.
Don't feel bad if you have not heard of it.
LOTS of people haven't.
https://en.wikipedia.org/wiki/Depression_of_1920–1921

To 'fight' the depression?
The governments of the day cut tax rates, cut spending, balanced the budget and let the economy fix itself.
Now, according to today's financial 'experts'?
That could NEVER work or it will mean the economy will recover too slowly.
The result?
The economy was back to normal in 3.5 years whilst the national debt went down by over 10%.

Whilst under the Great Depression and it's New Deal?
The unemployment rate took 12 years to reach it's pre-crash level.
The national debt more than doubled
https://www.polidiotic.com/by-the-numbers/us-national-debt-by-year/
And the DOW took 25 years to reach it's pre-1929 crash high.

This notion that governments MUST spend their way out economic hardships is complete nonsense.
But since politicians LOVE to spend money.
They will almost never tell you that.

Governments do not create jobs (other than in government).

 

[Into the Night]

After the majority gave the lawlessly hacked in sewer creep tRump the boot in 2021 who was not hacked in there to create jobs but to destroy Democracy from within and the soul of humanity, President Biden's team created policies that resulted in a 3.9 unemployment rate, the lowest since 1969:

Biden: Unemployment numbers show 'jobs recovery is one of the strongest ever'

President Biden on Wednesday touted the number of unemployment insurance claims, stating that the number represents one of the strongest jobs recoveries ever.

“Today, we received further evidence that our jobs recovery is one of the strongest ever. The average number of Americans filing for unemployment over the last four weeks is now at its lowest level since 1969,” Biden said in a statement.

The four-week moving average for claims fell by 16,000 to 203,750, the lowest level since Nov. 15, 1969. New applications for jobless aide rose slightly last week, totaling 206,000, an increase of 18,000 from the previous week’s revised total of 188,000. "
https://thehill.com/homenews/admini...jobs-numbers-show-jobs-recovery-is-one-of-the

TDS. Buzzword fallacies. There is no democracy. Argument from randU fallacies. Biden is lying to you.

 

[Into the Night]

Biden still has 3 more years to cause a depression.

It's already here.

 

[Into the Night]

That's exactly what conservatives told me during the Obama years.

I was practically promised by conservatives that Obamacare would destroy the economy.

It did destroy the healthcare insurance economy.

 

[Into the Night]

You're such a fucking liar.

The Bush Economic Collapse (thanks to his Tax Cuts and Deregulation) started in 2007, not after Obama was elected.

Lehman collapsed September 15th, 2008.

The election wouldn't be for two more months.



OBAMA WAS ELECTED IN 2008, NOT 2007 YOU STUPID, LYING PIECE OF SHIT.

Bush did not cause the housing crash. Congress did (Democrats).
Obama did not cause the housing crash. Congress did (Democrats).
It is CONGRESS that controls the Fed, NOT the President.

Obama turned the crash into a depression by interfering with the normal recovery.

 

[Into the Night]

If you want to get technical and precise, the crisis really started in 2006 because that's when the first shitty subprime mortgages started defaulting.

Now you're just making shit up.

 

[Into the Night]

If TA Gardener wants to claim Obama was elected in November 2007, and is thus supposedly responsible for the 2008 economic meltdown, all of his posts and claims showed be viewed with extreme skepticsm.

Obama turned the crash into an economic meltdown. Obama caused the depression that followed. Democrats in Congress caused the crash.

 

[LV426]

Bush did not cause the housing crash.

Yes he did.

According to Bush, the crisis was caused by a dramatic weakening of underwriting standards starting in 2004 and extending through 2007.

All regulators work for the Executive Branch.

Regulators started turning a blind eye to lending abuses beginning in 2004.

Who was President in 2004? Who controlled Congress? Who controlled most State governments? Who controlled SCOTUS?

 

[LV426]

Obama did not cause the housing crash. Congress did (Democrats)..

Nope, you and Bush caused the collapse of the housing market because you inflated the housing market in the months leading up to the 2004 election because you wanted to credit that economic growth to the tax cuts when it was really because of debt.

Bush Ties Policy to Record Home Ownership
https://www.foxnews.com/story/bush-ties-policy-to-record-home-ownership

Ouch. How damaging to every single thing you believe.

So you have Bush crediting the housing market in 2004, that would collapse by 2006, to his tax cuts.

So Bush, not me, blamed his tax cuts for the housing collapse.

 

[BartenderElite]

I think I can sum up this thread now:

Even though history and statistics show that the economy has been far better under Democrats for decades, that isn't the case. There are "hidden" factors, and when you consider those, it's actually been booming under Republicans, and really, really bad under Democrats. And when it hasn't been so good under Republicans by any measure (hidden or not), it's the fault of Democrats.

And the economic downturn in 2007/08 was Obama's fault.

 

[LV426]

It is CONGRESS that controls the Fed, NOT the President.

Wrong. The Federal Reserve is independently run from Congress and the White House...the only thing either has to do with it is confirming who runs it.

Obama turned the crash into a depression by interfering with the normal recovery.

There was no depression, and the recovery took a long time because it was too small.

 

[LV426]

Obama turned the crash into an economic meltdown.

The meltdown started September 2008 when Lehman collapsed, two months before Obama was elected.

Obama caused the depression that followed.

You cannot be in a depression if the economy is growing, which it started doing in Q3 2009 (1.5% GDP growth in Q3 2009).

All you do is lie and say things that are blatantly not true.

 

[LV426]

Now you're just making shit up.

No, you're just so outclassed in this discussion that you didn't even realize the garbage subprimes you and Bush flooded the market with in 2004 started defaulting by 2006.

 

[BartenderElite]

Obama turned the crash into an economic meltdown. Obama caused the depression that followed. Democrats in Congress caused the crash.

You really just say stuff. The meltdown was before Obama took office. Within a few months of his admin, he passed the stimulus and we started the longest economic recovery in history.

If I started a thread saying the sky is blue, you'd say it isn't, and call it a color fallacy.

 

[Sailor]

As the older ones retire, middle ones move up the ladder into their vacated places. That leaves room below them for the younger workers. It seems to be the low-wage jobs that are crying for workers... restaurants, retail, hospitality, unskilled labor, etc.

Plenty of high paying jobs out there Owl Woman that are not being filled. Really.

 

[Flash]

That may partially explain away why over a third of eligible workers aren't working, but it hardly explains it all.

I don't know, either, but BLS has detailed data on this issue.

I don't think it is due to benefits people are getting. Trump's extra $300 and most states have 26 week maximum unemployment benefits which have long expired. When many of the local businesses attempted to hire back employees who had been laid off they had already taken other jobs (many leaving the food business) and not because they were collecting benefits. The huge amount of waste and fraud was in the Payroll Protection program where employees turned in their employer for collecting millions and not paying his employees but buying new houses and cars.

 

[T. A. Gardner]

You're such a fucking liar.

The Bush Economic Collapse (thanks to his Tax Cuts and Deregulation) started in 2007, not after Obama was elected.

Lehman collapsed September 15th, 2008.

The election wouldn't be for two more months.



OBAMA WAS ELECTED IN 2008, NOT 2007 YOU STUPID, LYING PIECE OF SHIT.

December 2007. Obama was elected in November 2007. Obama came into office in January 2008.

Thus, the collapse started right after Obama was elected.

 

[LV426]

I don't know, either, but BLS has detailed data on this issue.

I don't think it is due to benefits people are getting. Trump's extra $300 and most states have 26 week maximum unemployment benefits which have long expired. When many of the local businesses attempted to hire back employees who had been laid off they had already taken other jobs (many leaving the food business) and not because they were collecting benefits. The huge amount of waste and fraud was in the Payroll Protection program where employees turned in their employer for collecting millions and not paying his employees but buying new houses and cars.

Also, officially, about 900,000 people have died of COVID and many of them were workers.

So a lot of those job openings are simply because 900,000 people have died.

 

[LV426]

December 2007. Obama was elected in November 2007. Obama came into office in January 2008.

Are you brain damaged?

Obama was elected in November 2008.

Obama came into office January 2009.

The fascism has finally destroyed whatever remained of that half-brain of yours.

The first inauguration of Barack Obama as the 44th president of the United States took place on Tuesday, January 20, 2009, at the West Front of the United States Capitol in Washington, D.C.
https://en.wikipedia.org/wiki/First_inauguration_of_Barack_Obama

All you do is lie and rush through your responses without bothering to check your work.

That's your habit. You lie, you steal shit from other people to pass off as your own, you lie some more, you try to gaslight people, then you act like an arrogant turd before finally running away from your failures in each thread.