Please explain why you think Biden is doing a poor job with the economy

yahoo!finance reports, "Stocks climbed Thursday, after fresh data underscored the resilience of the US economy in the face of the Federal Reserve's interest-rate hikes.

"A sharp upward revision to second-quarter GDP and a fall in jobless claims on Thursday echoed recent releases reflecting strength in the economy, seen as providing scope for the Fed to keep raising rates."

34% of U.S. adults approve of how Biden has handled the economy, a figure essentially unchanged from May. Biden's overall approval rating is 41%???????????????

Please, someone explain to me why Biden's approval rating on the economy is so low. There has been no explanation of this phenomenon on this forum. So, I'm curious as to why so many feel that way.

Is it ignorance of how the economy works? When replying, keep in mind that during prosperous times -- meaning full employment and robust spending -- inflation is a byproduct. Lower prices occur during a recession with high unemployment and less spending.

Do the complainers want a recession?

I eagerly await answers.

 

All Democrats do a poor job on the economy, didn't you know that?

High employment, gdp growth, lol, who cares about that sh**?

Bu bu but Democrat!!

 

Because he sucks.

We haven't seen inflation adjusted wages sink this far, for this long, in 30 years.



Second Quarter GDP numbers aren't in yet.

 

Uhhh... probably because I'm poorer today than I was three years ago. Duh. I mean isn't that the bottom line?

 

Biden continues to print money which lowers the value of my money. His oil policies created higher gas prices which inflated the cost of everything. His green policies are making electricity and natural gas bills more expensive.

What has Biden done to improve the lives of Americans?

 

I don't recall being taught in my early days that the US government was supposed to be in control of the economy. Must've missed that day or has the Constitution been amended since then?

 

Approval ratings are subjective. When ones works and brings home whats left of their pay after taxes, they notice how much less their money is worth. How is that Bidens fault?, he is the face behind the machine.

 

And that is Biden's fault, not yours?

Another complained that pay has not kept up with inflation. Whenever has it?

Inflation is coming down.

Yes, Biden is responsible for inflation. The Biden economy is prosperous with full employment, and with prosperity comes inflation because of good spending.

You want lower prices? Then you want a recession with its high unemployment and far less spending.

I have yet to see why 66% of Americans blame Biden for an economy that is booming. It doesn't make sense. The answers here suggest that.

 

That is Biden's job?

How about you accepting responsibility for improving your life?

 

I agree with your second sentence completely. However, government, including Biden, should not be an impediment, roadblock or otherwise make it difficult in being successful.

By mistake, when I checked the alert I received when you quoted me, I accidentally clicked on your profile and saw you were in Covina. I spent 21 years in So Cal, first Moreno Valley (yuk) then Corona. How's So Cal doing these days? From CA I moved to El Paso and now I'm in Las Cruces, I'm surrounded by Mexicans, but damn, the Mexican food in CA is so much better than here.

 

have you got a link to that GDP "upward revision"?

 

The government has had influence on the economy for almost a century now, that includes Republicans.

 

Your quote provides the answer----interest rates keep going up. Good news on one front is bad news on the other. This is going to be a problem until we fall into a recession. Biden isn't really doing anything at all as far as the economy today. He just gets the dink for the Fed's actions. Arguably the reason the Fed has to act though is because of all the COVID largess which Trump and Biden both had fingers in.

 

Then stop sending money to T****'s defense/retirement fund.

 

Inflation occurs when production can't match demand. It was high last during the 70s and early 80s due to boomers coming of age as spenders. We had a major disruption in spending due to covid and that spending is returning faster than production but that is settling as manufacturing and supplies catch up.

 

"Resilience in the Economy" .. basically means we are not getting beated up as bad as expected. --- dont know if we can attribute any of this to something Biden has done sans continuing to print money - and there are factors impacting markets that are much bigger than Biden

34% is quite low ... the signs are so obvious even the little people are a bit worried about the falling sky - called "INFLATION" - only a small portion a byproduct of "full employment and robust spending" .... and while it has backed off .. was "Hyper" for awhile.

For those with some savey -- Biden is looking to be a disaster -- and while not entirely his fault .. may go down as the President who presided over the breaking of the camel's back.. Told all that would listen -- Trump pushing using the economic Nuclear option (Unilateral Iran Sanctions) was a huge blunder .. speeding us towards a competitor to USD "SOLE" reserve Status. .. the "SOLE" part really important hence the quotes

Biden has pushed it again -- Russia Sanctions --- and has backfired huge .. Nations are now rushing towards the BRICS in their effort to field a competitor -- one that looks to be online withing 5 years or sooner .. wouldn't surprise me if it was 2 years.

The day we wake up in the morning and find that there exists a valid competitor to the USD' --- meaning no longer "SOLE" -- is the day the History books will record as the defacto end of the US economic Empire. and it is absolutely no surprise that this comes along at the same time as we lose our status as a the world military superpower .. having our backside handed to us by a group of Mercinaries "Wagner" - and absolutely no surprise that this is happening at a time when our Debt has gotten bigger than Big ... and interest rates rising towards catastrophic nightmare.

We simply can't have ave interest on our Debt go to normal historic level of roughly 6%. is currently sitting just above 2% .. in case one was curious. The math here is quite simple .. is the figure the IMF uses --- if interest on debt / revenue hits 30% .. red lights go off " water coming into ship faster than can be bailed out .. if nothing done ship will sink.

Income is roughly 4 Trillion 32 Trillion X 2% / 4 Trillion = 16% Not bad right .. way lower than 30%

Now do the calculation using 4% as average interest rate = 32% --- we will never get near 6% .. ship will have sunk long ago.

 

Cars are insanely expensive. Housing is still bloated. Gas is too expensive. Food costs more. Basically anything I need costs more. Inflation has made my buying power considerably less.

People lost a significant part of their retirement especially in bonds which is supposed to be safe and backed by the government.

We have worker shortages and the people who do work are overworked and burned out yet still making the same.

 

I can't when the administration is stealing from my savings by printing money. Back during FDR's raign actually made it illegal for people to own gold because he was doing the same thing.

The economy is doing poorly because of inflation.

 

the Republican run FED is gonna have to try harder if they want to destroy the HOT bidden economy

 

Amazing is it not, they line up to be fleeced by The Pied Piper.

 

I don't know about anyone else but my personal finances are doing great right now. Not saying it has anything to do with Biden, because it doesn't. My personal finances have nothing to do with any president.

 

I don't like the high gas prices and I don't like the high grocery prices. Lots of other prices on items have made a major increase under Biden's term due to his policies. He looks like one-term Jimmy Carter if you compare us depending on oil imports and inflation.

 

Prove it.

 

The Fed's rate hikes are working.

Key Fed inflation measure shows prices rose just 0.3% in May
https://www.cnbc.com/2023/06/30/pce-inflation-may-2023-.html

 

Prove it, prove it, prove it, -- Russia, Russia, Russia, -- post a link, post a link, post a link, -- blah-blah-blah, meaningless chatter.