General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIt's the Biden vs. Trump Economy--and Hell No, It's Not Even Close
Its the Biden vs. Trump Economyand Hell No, Its Not Even Close - The New RepublicImportantly, the real wages of the middle quintile are not only higher today than they were before the pandemic, but slightly higher than we would expect based on 2015-19 trends. In other words, the typical American workers purchasing power has grown at least as much as it likely would have in the absence of the global challenges posed by the pandemic and geopolitical conflicts.
If youre waiting to see this reported in the mainstream media, except by me and my colleague Tim Noah and a small handful of other people, I advise you to stop. Its not going to happen. In the mainstream media, theres still largely one Joe Bidenera economic story: inflation, gas prices, people feeling worse off than they did four years ago, and ooh, did he just forget someones name again?
Trumps jobs numbers in his first two years lagged behind Barack Obamas in his last two, 4.5 million to 5.2 million. And both are way behind Bidens first two-year total of nearly 11 million. And wages, as I noted above, are up. And theyre especially up for the middle class and the poor. This is what middle-out economics means.
Trump inherited a good economy and didnt screw it upuntil a crisis hit that he was completely unprepared for and lied about constantly and refused to take responsibility for.
Biden inherited a horrible economy, got us out of that crisis, suffered through a price crisis that also affected the rest of the developed world, but is now presiding over the greatest monthly job growth in history (yes, at 289,000 a month) and is keeping his core campaign promise of shifting wealth from the top to the middle and the bottom.
Why is it so hard to tell that story, Democrats?
IbogaProject
(2,816 posts)Both are spent locally and both support working wages. Tax cuts for the rich slow economic velocity. The only reasons this isn't having an even larger impact are the filibuster and those two Dems in party name only. Joe is on his way to being the best president ever!
betsuni
(25,537 posts)They ARE telling that story.
Why is it so hard to tell that story, Media, Journalists? The people whose job it is to tell the whole truth. The only one who is consistently doing it is Chris Hayes.
ChoppinBroccoli
(3,784 posts)Clinton pulled us out of the Reagan/Bush recession, Obama pulled us out of the second Bush recession, and Biden pulled us out of the Trump recession.
It's ALMOST as if Republicans take a thriving economy and drive it into a ditch and then Democrats rescue it. But the "liberal media" won't report that.
Hermit-The-Prog
(33,349 posts)IronLionZion
(45,450 posts)Then pay them more. Labor shortage is our once in a lifetime opportunity to improve labor conditions for the lowest paid workers. Those are the folks who have been ridden hard and put away wet for too long and decided they want better. And many of them found better jobs. They pulled themselves up by the bootstraps that conservatives keep talking about.
Conservative economic policy was never about creating jobs or putting Americans back to work. It was always about screwing American workers and telling them to blame immigrant workers while the wealthiest get wealthier. Blame taxes and regulations while the wealthiest get wealthier. Keep waiting for it to trickle down.
Liberal policies are trickle up.