The Trump Presidency
- Thread starter The Tariff King
- Start date
acesfull86
Well-known member
I thought you were looking to start a conversation on African American unemployment rates over the past several years and left out some context. Whoops!
zitothebrave
Connoisseur of Minors
Why are we talking about this loser?
acesfull86
Well-known member
To distract from how ****ty the current guy is?
He still hasn't figured out what most of what he says doesn't age well.
nsacpi
Expects Yuge Games
Nope. But thanks for providing the context.
Tapate50
Well-known member
Hell Biden got folks wishing they had been successful
sturg33
I
I fondly recall you cheering this on because it was the first time in the four years you could call something a WAR!!!
nsacpi
Expects Yuge Games
it's a basic principle that you increase stimulus during times of economic slack and decrease it when there is not much slack
my criticism would be the increase in the deficit from 585 billion in 2016 to 984 billion in 2019...not the 2020 stimulus
having said that even when you are increasing fiscal stimulus you want to calibrate it to offset the negative shock to demand...the $2,000 rebates in 2021 were far in excess of the demand shortfall and ended up stoking inflation
the stimulus from deficit spending was about right in 2020...the extra stimulus in 2021 was too much
I linked an op-ed piece by Larry Summers back in February 2021 highlighting this risk
https://www.washingtonpost.com/opinions/2021/02/04/larry-summers-biden-covid-stimulus/
relevant passages:
I agree with the general consensus of progressive economists that it would have been much better if the Obama administration had been able to legislate a much larger fiscal stimulus in early 2009, in response to the Great Recession. Yet a comparison of the 2009 stimulus and what is now being proposed is instructive. In 2009, the gap between actual and estimated potential output was about $80 billion a month and increasing. The 2009 stimulus measures provided an incremental $30 billion to $40 billion a month during 2009 — an amount equal to about half the output shortfall.
In contrast, recent Congressional Budget Office estimates suggest that with the already enacted $900 billion package — but without any new stimulus — the gap between actual and potential output will decline from about $50 billion a month at the beginning of the year to $20 billion a month at its end. The proposed stimulus will total in the neighborhood of $150 billion a month, even before consideration of any follow-on measures. That is at least three times the size of the output shortfall.
In other words, whereas the Obama stimulus was about half as large as the output shortfall, the proposed Biden stimulus is three times as large as the projected shortfall. Relative to the size of the gap being addressed, it is six times as large.
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nsacpi
Expects Yuge Games
Btw in the fall of 2020 very poorly chosen one also wanted to "go big" on additional fiscal stimulus of $1.8 trillion (pushed among others by the unholy alliance of Sanders and Hawley)
his message to Congress was "go big or go home"
McConnell blocked the extra $1.8 trillion as unreasonably large (he was right!)...but once the Georgia senate races (where the winning candidates endorsed the excessively large stimulus) cost the GOP the senate he couldn't block it anymore
https://thehill.com/homenews/admini...to-go-big-or-go-home-on-coronavirus-stimulus/
so we are where we are in part due to the good voters of Georgia
his message to Congress was "go big or go home"
McConnell blocked the extra $1.8 trillion as unreasonably large (he was right!)...but once the Georgia senate races (where the winning candidates endorsed the excessively large stimulus) cost the GOP the senate he couldn't block it anymore
https://thehill.com/homenews/admini...to-go-big-or-go-home-on-coronavirus-stimulus/
so we are where we are in part due to the good voters of Georgia
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nsacpi
Expects Yuge Games
Near the beginning of Donald Trump’s time in office, the then-president had a pressing question for his national-security aides and administration officials: Does China have the secret technology — a weapon, even — to create large, man-made hurricanes and then launch them at the United States? And if so, would this constitute an act of war by a foreign power, and could the U.S. retaliate militarily? Then-President Trump repeatedly asked about this, according to two former senior administration officials and a third person briefed on the matter.
“It was almost too stupid for words,” said a former Trump official intimately familiar with the then-sitting president’s inquiry. “I did not get the sense he was joking at all.”
https://www.rollingstone.com/politics/politics-news/trump-hurricane-gun-china-world-war-1350638/
Still baffled about why he praised Xi for unleashing the Wuhan virus and thereby killing over a million Americans. But at least he was at the top of his game when it came to the hurricane gun.
“It was almost too stupid for words,” said a former Trump official intimately familiar with the then-sitting president’s inquiry. “I did not get the sense he was joking at all.”
https://www.rollingstone.com/politics/politics-news/trump-hurricane-gun-china-world-war-1350638/
Still baffled about why he praised Xi for unleashing the Wuhan virus and thereby killing over a million Americans. But at least he was at the top of his game when it came to the hurricane gun.
You talk about people's sources and you use Rolling Stone as a source. lol
sturg33
I
What's more amazing is this lecturing buffoon is still living 5 years in the past, and treats the current president thread like it is COVID positive
(This is the part where he says he didn't get accepted to the Biden rapid response team)
It's Trump 24/7. Rome is burning and the libs still can't get over him.
