Biden’s 100-day stock market performance is the hottest going back to the 1950s

One time? National debt is hardly a taking point democrats campaign on like republicans do.

Should we care about the debt? Sure, but I don't know what the threshold is for it to become a problem. Republicans think the deficit is and has been an issue for a long time, so I ask you what have they done about it other than voice fake concern?

 

The difference being that Biden inherited a Republican recession and Biden inherited a Trump pandemic. Obama spent his way out of the recession and handed off an economy on the rise. Biden is cleaning up Trump’s mess and getting us back to work. Coincidentally, once the Republicans lost the White House and Congress, they suddenly became fiscal conservatives.

It’s a mystery , no ?

 

don't support Biden on this one

I do not smoke, but this should be a choice, especially when the oldest person to have ever lived was a smoker

"Biden administration expected to announce plan to ban menthol cigarettes"

https://www.washingtonpost.com/health/2021/04/28/ban-on-menthol-cigarettes/

"The Biden administration is expected to announce this week that it will propose a ban on menthol cigarettes, an action urgently sought by tobacco opponents and civil rights groups that say African Americans have been disproportionately hurt by the industry’s aggressive targeting of Black communities."


so they say black people prefer menthol, so the racist thing to do would be to ban what they feel black people prefer would it not? so is Biden a Racist?

 

And how the left doesn't after the Democrats took back the budget.

 

Trump every year submitted proposed spending cuts, Congress didn't pass them. But they certainly didn't increase spending like Biden and the Dems are proposing. If you are concerned about spending and the deficits and debt as I am then vote for fiscal conservatives. And right now there is only one place you stand a chance of finding any. Too many RINO's who have watched the Dems gain votes with fooling the people about spending.

 

That's not the argument.

The stock market is overperforming, and being a market of future speculation, the financial sector sees a bright future. This is a sign of confidence in Biden's policies. The truth is that Wall Street cares more about the spending than the tax increases.

 

I smoke. Kools. Since I was 15. This should not happen, and it's pretty ridiculous. I don't think it's gonna happen.

 

I am all for these increases. If the market crashes though, does that fall on Biden too?

 

I don't... never tried it, probably because both my parents smoked and neither made it to 70 (and I knew they probably wouldn't as a teen)

I'm on the fence here... Read this article (from 2009) and it seems reasonable, but I really don't have a horse in this race.

SNIP
The law also bans most cigarette flavorings and orders the FDA to study the issue of whether menthol should also be banned, on the theory that the flavorings mask the harsh taste of tobacco and make it easier for first-time smokers to get hooked.

But from today's article:

During the Obama administration, the agency and its outside advisers found that banning menthol cigarettes would improve public health and save lives, but the administration never moved forward.
ENDSNIP

http://voices.washingtonpost.com/44...l_regulating_to.html?itid=lk_inline_manual_32

But I'm also a closet Libertarian and what you do in your own home is generally your own business....

 

Trump wanted spending cuts in certain sectors and more funding in others, but none of his proposals addressed the national debt.

 

Who told you that lie?

Trump's last budget request was the largest in history, by almost a trillion dollars. Trump asked for spending cuts in some areas but they were always offset by bigger increases in others.

 

ERGO, Trump asked for spending cuts.... you're aren't allowed to qualify statements...

Everything after those 5 words I bolded is Charlie Brown's teacher to the RW...

 

Those words are misleading as they give the impression he tried to cut spending, which he never did.

Context matters.

 

The sky isn't falling because of the stock market. It is falling due to beyond crazy spending. Respond around the end of the year and we'll see how things are going.

 

They've done nothing....which I alluded to in another post. Neither party, through actions, shows any concern over the debt. Some will talk about it, but when spending bill time rolls around, they all spend.

 

So what's with the fake concern from the naysayers about Biden's spending habits? Are those fiscal conservatives going to vote out their members who enable reckless spending in the first place? Hardly, as spending increases year after year. They are just going to vote for the same candidate in 2022.

The national debt only becomes a hot button issue when a democrat president is in office. Not a peep the last 4 years.

 

Wow, I used to know many Kool smokers. They all quit. That’s a real menthol. Remember KOOL non filters?

 

He submitted across the board tax cuts but Congress would never consider them.

Trump Budget Cuts Size of Federal Government, but Bolder Reforms Needed

KEY TAKEAWAYS
The president’s budget includes $4.4 trillion in proposed spending cuts.

The president’s 2021 budget makes significant progress in reducing the government’s reach and returning power to the people.

The president’s budget proposes $740.5 billion in national defense spending, consistent with the level provided by the Bipartisan Budget Act of 2019.

https://www.heritage.org/budget-and...size-federal-government-bolder-reforms-needed

 

He had his cabinet secretaries all submit across the board spending cuts, Congress never passed them. It's Congress wherein lies the budgetary power.

 

Then why did Bush and the Republican Congress get the deficit down to a paltry $161B in 2007 heading to surplus where the debt could then start to be cut? And yes the budgets was not only balanced and had surpluses in the late 1990's but that was the Gingrich/Kasich Congress and their budgets they forced Clinton to sign. As I noted Trump was calling for spending cuts and cutting the size of government. But as long as the Dems and the Rino's can control things that's not going to happen. We need more fiscal conservatives and to get them that starts with electing a Republican Congress and then weeding out the Rino's.

 

$4.4 trillion in proposed spending cuts over the next 10 years, more spending while he was still the POTUS.

His budget request for 2021 was 4.8 trillion dollars, the largest budget request ever! Then again his 2020 budget request was the largest ever till he did his 2021 budget. It is also 1 trillion dollars larger than any request made by Obama.

 

As usual cnbc lies. It’s not Bidens’ he inherited it from Trump. The market has been on a continuing upswing for almost a year, just like payroll employment. Not to mention the dramatic drop in unemployment - accross the board.

 

I agree the market continues to go strong since the trend started with Obama.

 

OK, I'll bite.
With two to four trillion of promised spending, (financed by general tax increases rather than being financed by state, local, and federal bonds, as well as use taxes, fees, etc.) there is going to be a spending boom, no doubt about that. But companies also know it will burn out because it is not demand related, so they will not create excess capacity. This creates inflation. Inflation is the friend of asset holders, and the enemy of cash flow households. Asset holders are buying mutual funds and property. Everyone else will be left holding a shrinking paycheck and a rent increase.

Tl;dr: Trillions in spending create an increase in demand with only a financial underpinning leading to inflation. Inflation will Hoover up the buying power of these excess dollars, thus sticking it to the asset challenged wage earner.

The biggest winner is China who now dominates US finished goods manufacturing.

 

I assume it is safe to say that you said the same thing about Trump's UE being what he inherited from Obama...correct?