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B.See

(1,243 posts)
Thu Mar 28, 2024, 11:11 PM Mar 28

It's the Biden vs. Trump Economy--and Hell No, It's Not Even Close

It’s the Biden vs. Trump Economy—and Hell No, It’s Not Even Close - The New Republic

I’m going to tell you something that I’m pretty sure you don’t know—and that you probably won’t even believe. Ready? Real wages are now growing in the United States at a pace faster than the spike in the cost of living since the pandemic. More than that: For the first time in decades, wage growth is consistently stronger in the middle and at the bottom than at the top.

“Importantly, 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 worker’s 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 you’re 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. It’s not going to happen. In the mainstream media, there’s still largely one Joe Biden–era economic story: inflation, gas prices, people feeling worse off than they did four years ago, and ooh, did he just forget someone’s name again?

Trump’s jobs numbers in his first two years lagged behind Barack Obama’s in his last two, 4.5 million to 5.2 million. And both are way behind Biden’s first two-year total of nearly 11 million. And wages, as I noted above, are up. And they’re especially up for the middle class and the poor. This is what “middle-out economics” means.

Trump inherited a good economy and didn’t screw it up—until 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?
6 replies = new reply since forum marked as read
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It's the Biden vs. Trump Economy--and Hell No, It's Not Even Close (Original Post) B.See Mar 28 OP
Biden's two major spending bills IbogaProject Mar 29 #1
"Why is it so hard to tell that story, Democrats?" Why the hell is it Democrats' fault? betsuni Mar 29 #2
Thank you! Chellee Mar 29 #3
I'm Starting To Notice A Pattern Here ChoppinBroccoli Mar 29 #4
Sure would be nice to see charts and graphs of that on M$M, instead of "the race" and age. Hermit-The-Prog Mar 29 #5
Nobody wants to work anymore! IronLionZion Mar 29 #6

IbogaProject

(2,816 posts)
1. Biden's two major spending bills
Fri Mar 29, 2024, 10:45 AM
Mar 29

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)
2. "Why is it so hard to tell that story, Democrats?" Why the hell is it Democrats' fault?
Fri Mar 29, 2024, 10:55 AM
Mar 29

They ARE telling that story.

Chellee

(2,097 posts)
3. Thank you!
Fri Mar 29, 2024, 11:10 AM
Mar 29

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)
4. I'm Starting To Notice A Pattern Here
Fri Mar 29, 2024, 11:28 AM
Mar 29

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.

IronLionZion

(45,450 posts)
6. Nobody wants to work anymore!
Fri Mar 29, 2024, 01:15 PM
Mar 29

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.

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