Biden has given us the greatest economy ever (AP)

Dean baker

I would not ordinarily talk this way. I just want to make the point that we can say with absolute certainty that if Donald Trump were president and we had the exact economy we now have, we know he would proclaim it the GREATEST ECONOMY EVER!

We could also be certain that every Republican member of Congress would agree with him. And they would have a good case.

And, if we had gotten here based on President Trump’s policies, they would be justified in taking credit. This is especially true when we consider that we had to overcome a once-in-a-century pandemic and the disruptions created by the largest war in
Europe since World War II.

To put the basic facts on the table, unemployment has been at, or near, a half-century low. The unemployment rate for Black workers hit the lowest level ever. Inflation did take a bite out of wages in 2021 and the first half of 2022, but in recent months,
wages have been substantially outpacing inflation.

This is especially true for workers at the bottom of the wage ladder. Wages for production and nonsupervisory workers, a category that excludes managers and highly paid professionals, are 1.7% above their pre-pandemic level after adjusting for the rise
in prices. For workers in the low-paid hotel and restaurant sector, the increase is 6.3%.

Higher pay is just part of the story; the Conference Board reports that workers are enjoying higher job satisfaction than in the nearly 40 years they have fielded their survey. This should not be surprising given the massive amount of job shifting over
the past three years.

The strong labor market gave workers unprecedented opportunities to leave jobs they didn’t like. In fact, workers were so confident of their labor market prospects that record numbers were prepared to leave jobs before they even had a new job lined up.

And we have seen an enormous increase in the number of people who can work from home, with estimates of more than 45 million. This saves workers thousands of dollars a year in commuting costs and hundreds of hours of commuting.

The improved economic situation shows up in other areas. We have seen a substantial rise in homeownership, especially among disadvantaged groups. There were large increases in homeownership rates among the young, Black and Hispanic people. The share of
homeowners among households earning less than the median income hit a record high.

Since the pandemic, the United States has had the highest growth rate of any wealthy country. Its inflation rate is among the lowest, below that of Germany, the U.K. and Japan.

There is alot here to like, but beyond just the good news, President Joe Biden has a powerful argument that he deserves credit. We can start with the American Recovery Package he pushed through Congress just after taking office. He managed to get it
through without a single Republican vote. They widely condemned the package as inflationary, as did many prominent economists, including Democratic economists.

This package put money in people’s pockets, protected them from the worst effects of the pandemic shutdowns, and helped supercharge the economy. While it took us close to a decade to get back to the unemployment rates we saw before the Great Recession,
we managed to return to pre-pandemic levels of unemployment in a year and a half after Biden took office.

We did see a bout of inflation, but the hit was not noticeably worse than in countries that did not have big recovery packages. Furthermore, many of these items have since come down, as items such as eggs and gas are now selling for close to their pre-
pandemic prices. A short bout of inflation seems a small price to pay for a strong labor market.

Perhaps even more important were the bills changing the long-term direction of the U.S. economy. Biden got a bipartisan infrastructure bill passed in his first year. This was followed by the CHIPS Act to promote the domestic production of cutting-edge
silicon chips. And he got the Inflation Reduction Act passed, which set off a massive surge in investment in clean energy and electric cars. We will see the benefits of this legislation for decades into the future.

In short, yes, we have an outstanding economy. And yes, Biden fought to pass the legislation that got us here. That means he gets the credit.

-- Dean Baker is the senior economist and co-founder of the Center for Economic and Policy Research

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On Thursday, July 27, 2023 at 4:54:16 PM UTC-7, VegasJerry wrote:

Biden has given us the greatest economy ever (AP)

Tell that to Yellow, you corrupt piece of shit. 30,000 workers, including 22,000 Teamsters, will be declaring bankruptcy. What does that mean to their pensions? It means the workers are fucked, that's what it means. Fuck you, Jerry.

--- SoupGate-Win32 v1.05
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On Thursday, July 27, 2023 at 6:20:59 PM UTC-7, Paul Popinjay wrote:

On Thursday, July 27, 2023 at 4:54:16 PM UTC-7, VegasJerry wrote:

Biden has given us the greatest economy ever (AP)

Tell that to Yellow, you corrupt piece of shit. 30,000 workers, including 22,000 Teamsters, will be declaring bankruptcy. What does that mean to their pensions? It >

means the workers are fucked, that's what it means. Fuck you, Jerry.

Don't get mad. I am just trying to quell your hysteria for your own good: https://fred.stlouisfed.org/series/JTSLDL

--- SoupGate-Win32 v1.05
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On 7/27/2023 9:45 PM, BillB wrote:

On Thursday, July 27, 2023 at 6:20:59 PM UTC-7, Paul Popinjay wrote:

On Thursday, July 27, 2023 at 4:54:16 PM UTC-7, VegasJerry wrote:

Biden has given us the greatest economy ever (AP)

Tell that to Yellow, you corrupt piece of shit. 30,000 workers, including 22,000 Teamsters, will be declaring bankruptcy. What does that mean to their pensions? It >

means the workers are fucked, that's what it means. Fuck you, Jerry.

Don't get mad. I am just trying to quell your hysteria for your own good: https://fred.stlouisfed.org/series/JTSLDL

Picked the wrong email account, eh?

--- SoupGate-Win32 v1.05
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On Thursday, July 27, 2023 at 6:20:59 PM UTC-7, Paul Popinjay wrote:

On Thursday, July 27, 2023 at 4:54:16 PM UTC-7, VegasJerry wrote:

Biden has given us the greatest economy ever (AP)

.

Tell that to Yellow, you corrupt piece of shit. 30,000 workers, including 22,000 Teamsters, will be declaring bankruptcy. What does that mean to their pensions? It means the workers are fucked, that's what it means. Fuck you, Jerry.

.

Wow! You really get pissed when you're embarrassed....

--- SoupGate-Win32 v1.05
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On 7/28/2023 9:38 AM, VegasJerry wrote:

On Thursday, July 27, 2023 at 6:20:59 PM UTC-7, Paul Popinjay wrote:

On Thursday, July 27, 2023 at 4:54:16 PM UTC-7, VegasJerry wrote:

Biden has given us the greatest economy ever (AP)

.

Tell that to Yellow, you corrupt piece of shit. 30,000 workers, including 22,000 Teamsters, will be declaring bankruptcy. What does that mean to their pensions? It means the workers are fucked, that's what it means. Fuck you, Jerry.

.

Wow! You really get pissed when you're embarrassed....

There you go ... right account

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 7:38:29 AM UTC-7, VegasJerry wrote:

Wow! You really get pissed when you're embarrassed....

I'm not as pissed as 22,000 Teamsters are going to be when they realize Biden stole their pensions.

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 3:28:59 PM UTC-7, Paul Popinjay wrote:

On Friday, July 28, 2023 at 7:38:29 AM UTC-7, VegasJerry wrote:

Wow! You really get pissed when you're embarrassed....

I'm not as pissed as 22,000 Teamsters are going to be when they realize Biden stole their pensions.

.

Then you should have no trouble showing us.

(You and JackOff should get a Running Room)

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 4:44:21 PM UTC-7, VegasJerry wrote:

On Friday, July 28, 2023 at 3:28:59 PM UTC-7, Paul Popinjay wrote:

On Friday, July 28, 2023 at 7:38:29 AM UTC-7, VegasJerry wrote:

Wow! You really get pissed when you're embarrassed....

I'm not as pissed as 22,000 Teamsters are going to be when they realize Biden stole their pensions.

.

Then you should have no trouble showing us.

(You and JackOff should get a Running Room)

Don't you watch the news, moron? Bankruptcy for Yellow. What does that mean? It means 22,000 Teamsters are fucked out of their pensions that they were promised. Want to put some cash money on this? Well? Do you? Pussy.

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 9:32:42 PM UTC-4, Paul Popinjay wrote:

On Friday, July 28, 2023 at 4:44:21 PM UTC-7, VegasJerry wrote:

On Friday, July 28, 2023 at 3:28:59 PM UTC-7, Paul Popinjay wrote:

On Friday, July 28, 2023 at 7:38:29 AM UTC-7, VegasJerry wrote:

Wow! You really get pissed when you're embarrassed....

I'm not as pissed as 22,000 Teamsters are going to be when they realize Biden stole their pensions.

.

Then you should have no trouble showing us.

(You and JackOff should get a Running Room)

Don't you watch the news, moron? Bankruptcy for Yellow. What does that mean? It means 22,000 Teamsters are fucked out of their pensions that they were promised. Want to put some cash money on this? Well? Do you? Pussy.

Except perhaps for this organization: https://www.usa.gov/agencies/pension-benefit-guaranty-corporation

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 4:44:21 PM UTC-7, VegasJerry wrote:

Then you should have no trouble showing us.

Don't talk to me. I don't want to talk to you anymore. I hate your fucking guts.

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 7:35:26 PM UTC-7, Tim Norfolk wrote:

Except perhaps for this organization: https://www.usa.gov/agencies/pension-benefit-guaranty-corporation

Who's going to guaranty the pension guaranty corp? You are lost. Pensions are going to crumble all over this nation. Don't you think I would like to trust the future of what has been promised to us? Don't you think I would like to trust the
government and the health of our economy? I would. But I'm smart enough to see the writing on the wall. Why aren't you that smart? Someone drop you when you were young?

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 6:32:42 PM UTC-7, Paul Popinjay wrote:

On Friday, July 28, 2023 at 4:44:21 PM UTC-7, VegasJerry wrote:

On Friday, July 28, 2023 at 3:28:59 PM UTC-7, Paul Popinjay wrote:

On Friday, July 28, 2023 at 7:38:29 AM UTC-7, VegasJerry wrote:

Wow! You really get pissed when you're embarrassed....

I'm not as pissed as 22,000 Teamsters are going to be when they realize Biden stole their pensions.

.

Then you should have no trouble showing us.

(You and JackOff should get a Running Room)

.

Don't you watch the news, moron? Bankruptcy for Yellow.

The company that got $700,000 from the government because of Covid.

What does that mean?

Heh! Knew you didn't know.

https://www.freightwaves.com/news/the-data-to-watch-if-yellow-shuts-down

*** Knew you didn't know ***

It means 22,000 Teamsters are fucked out of their pensions that they were promised.
Want to put some cash money on this? Well? Do you? Pussy.

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 8:27:46 PM UTC-7, Paul Popinjay wrote:

On Friday, July 28, 2023 at 4:44:21 PM UTC-7, VegasJerry wrote:

Then you should have no trouble showing us.

Don't talk to me. I don't want to talk to you anymore. I hate your fucking guts.

Just because I'm schooling you?

--- SoupGate-Win32 v1.05
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On Friday, July 28, 2023 at 8:20:53 PM UTC-7, Paul Popinjay wrote:

On Friday, July 28, 2023 at 7:35:26 PM UTC-7, Tim Norfolk wrote:

Except perhaps for this organization: https://www.usa.gov/agencies/pension-benefit-guaranty-corporation

.

Who's going to guaranty the pension guaranty corp?

The government.

You are lost.

You are ignorant. Work 9-years and 1,000 hours and you get retirement. Hell, even I'm getting money from it.

Pensions are going to crumble all over this nation.

Why?

Don't you think I would like to trust the future of what has been promised to us?

Then vote Democrat. The Republican corporations go bankrupt and sell to assholes like Mitt Romney.
Romney takes the pension fund, sells off the factory parts, and he's gone.

Then Employee has to go to PBGC to get a few buck on the dollar for Retirment. PBGC is massively overspent, and Republicans won't fund it any more than fund the IRS.

The ignorant, like you, keep voting against your own best interest by voting Republican.
then bitch when they fuck you.

Don't you think I would like to trust the government and the health of our economy? I would.
But I'm smart enough to see the writing on the wall.

So why do you vote Republican?

*** Oh, yea, I asked you that before and you run & hid. ***

Run again, stupid...

Why aren't you that smart?

I am. That's why I'm schooling fools like you...

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On Friday, July 28, 2023 at 11:20:53 PM UTC-4, Paul Popinjay wrote:

On Friday, July 28, 2023 at 7:35:26 PM UTC-7, Tim Norfolk wrote:

Except perhaps for this organization: https://www.usa.gov/agencies/pension-benefit-guaranty-corporation

Who's going to guaranty the pension guaranty corp? You are lost. Pensions are going to crumble all over this nation. Don't you think I would like to trust the future of what has been promised to us? Don't you think I would like to trust the government

and the health of our economy? I would. But I'm smart enough to see the writing on the wall. Why aren't you that smart? Someone drop you when you were young?

Hey, at least we are covering Ukrainian pensions.

--- SoupGate-Win32 v1.05
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