"Morgan Stanley is crediting President Biden’s economic policies with driving an unexpected surge in the U.S. economy that is so significant that the bank was forced to make a “sizable upward revision” to its estimates for U.S. gross domestic product, CNBC reports.
As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. That’s nearly four times higher than the bank’s previous forecast of 0.5%."
This is the whole article for anyone to lazy to click the link.
The average annual GDP growth is typically 2-3%. '21 was -2.77% & '22 was +5.95%. IMO the impact of COVID’s coming and going probably has had more economic impact than any presidential action did. I don’t see how we can fairly attribute or blame Biden for the economy in light of that.
Holy shit, rich people might actually be realizing the economy depends on the rest of the people in the country?? I thought the day would never come
Yeah, no.
They have realized it and are pivoting society back towards chattle slavery.
I’m sad Biden is getting an economic system named after him that he doesn’t have much to do with just because he’s president. But hey, I’ll take it. Reaganomics is awful, and at least having a name for the opposite is nice. Bernienomics doesn’t have the same ring to it
Bernomics
That is quite the praise coming from a group of hardcore republicans. The is a clear message “Biden brings stability and financial markets like stability”
Also absolutely massive subsidies are flowing out of the IRA into a lot of diverse economic sectors for the purpose of fighting climate change. Estimated $1.3 trillion since it is uncapped and built largely around unit subsidies.
That is a lot of money flowing to a lot of firms. Republicans like money going to businesses.
If that number is from the CBO it’s a 10 year estimate, not as big as it sounds.
And I don’t think you have to decide Morgan Stanley is Republicans and Republicans like money going to businesses…Republicans voted against the IRA so that’s probably incorrect. Morgan Stanley is a business and their customers are other businesses, that’s one explanation.
Or, the people working at Morgan Stanley are economists and the plan makes sense to economists so they praise it, that is another explanation.
To be expected, the GOP has gone all in on evangelism, election denial, and have shown willingness to throw their traditional business values under the bus for the sake of their lead issues. The “boring democrat” tends to business better than radicalized GQP. Notably, playing chicken with the national debt was a big no-no for business minded folks.
There may be a time when they will go back to the republican party hard, but will be waiting for the Trump/Greene/Boebert/Gaetz crazy to slip into not being influential.
Ironically, if the GOP had a wider victory in the house, I wouldn’t have been surprised to see the GOP marginalize the most obviously crazy and win favor among the business community again. As it stands they are having to let the craziest faction call the shots.
The Dems sliding to the right for 30 years has finally pushed the Republican Party halfway beyond the border of crazy town. The question is, after the Dems alone are the party of business, will they slide back to the left or stay conservative? And what would that look like?
What exactly is “Bidenomics”? What are the policies he has implemented? Non American here.
The White House has an article on the subject over here: https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/28/bidenomics-is-working-the-presidents-plan-grows-the-economy-from-the-middle-out-and-bottom-up-not-the-top-down/
fwiw, it is also an “attack” from Republicans who claim the economy is a disaster. The Biden admin co-opted the term - similar to what they did with the “Dark Brandon” meme.
The Democrats always claimed the economy was a disaster under Trump. This will always happen with the opposition party.
well I mean it was disastrous but I am not sure the blame lies entirely on Trump. His response to COVID could have been different thats for sure. He could of not disbanded the agencies in charge of managing and planning for such an event…It might have been better to have far more competent people in charge than say his son-in-law…Ya know it really would have been beneficial if he had not used it as an opportunity to enrich his donors…on that note it would have been nice if he had headed the simple warnings given to him by security professionals on how to implement distribution…He probably should not have given out PPP to large corporation with plenty of capital before he gave it to small businesses…man he could have done more to convince his following to get vaccinated and given a more unilateral messaging to the public in general regarding following mandates. Ya know what fuck that guy.
I don’t want to hear shit about biden until he actually sides with striking workers, or actually cancels student debt, or federally legalizes weed, or does literally anything i voted for him for.
You’ll continue to be sad until you learn how the US government works, and that a President is not a king.
But it should cheer you up that Biden pushed to the limits of executive authority on all of those things.
You don’t need to be a king to do any of the stuff I mentioned.
“Best I can do is persecute asylum seekers.”
Nice to see a reasonable person leading the US.
that dick catered with homophobes, racists, and big corporations throughout his entire career; he’s not reasonable, he’s an opportunist.
i wish the young could see what ultimately crappy shit he’s done; but i guess this is the change that is needed.
Please, sane rando on the internet, pray tell, what more intelligent things would you like to share without any context or citations of source?
i hope you’re young because being ignorant of his very public stances against gay marriage; against gays in the military; pro-segregation and non-dischargeable student loan debt is the only way you can be excused from knowning and a 30 second google search will confirm that he still stands by those decisions. educate yourself.
Unfortunately I’m old. Can you please help me out by linking articles that support your statements, so I can read them and help you change my mind about him? Thank you.
But the truth matters. Biden’s views on same-sex marriage have never been cutting-edge. When majorities opposed it, so did he. Once support for same-sex marriage became the mainstream Democratic position, Biden adopted it.
Okay I see, so he’s a two-faced politician who doesn’t understand the full picture. It’s all coming together now why certain groups within the Left don’t like him.
So you have me on your side now. What options do we have in the next election cycle?
none since too many people support him completely out of ignorance of what he’s done and said; like you did.
it’s mind blowing that there are literally videos of him doing shitty things that a 30 second google search will show you, but people will still refused to believe it; we’re no better than maga-ites
The person your responding to is absolutely correct. For the majority of Biden’s career he was pretty despicable politician. He was one of the angry men yelling at the Anita Hill hearings. He famously lied about his credentials early on. For most of his career he has been owned by wall street. in the 70’s, 80’s and 90’s he publicly had pretty hardcore racist and homophobic views. The Biden you see today is not the Biden most of America knows. He has never been a progressive ally.
They’re not correct at all lol
Biden has never been a racist. People try to call him racist over a crime bill half-written by black congressional leaders and loudly asked for by the black community.
Biden has literally always been a stand up guy
Calling out his busing stance as wrong when it was prescient and he was 100% correct about a generation of black educators losing their jobs is… An interesting take, to say the least.
Maybe don’t get your news from rags
you’re splitting hairs and you’re being disingenuous by ignoring all the other bad shit he’s done. off the top of my head his stances against gay marriage, against gays in the military and permanent-for-life student debt are enough to brand him an ass hat and the fact that he still stands by those decisions proves that he’s not worthy of your vote.
you should educate yourself
Lol this is awesome because your very first example is not only false, it was considered a minor scandal at the time: https://www.reuters.com/article/us-usa-biden-gaymarriage/biden-apologizes-to-obama-for-same-sex-marriage-remark-idUSBRE8491NH20120510
Then he, you know, signed gay marriage into federal law.
Kinda stopped reading there but I’m assuming you said similarly wrong things.
Yes because that was the one and only time that gay marriage was a topic of conversation lol
Did you not see his response in the primary debates when kamala called out his segregation policies? Rather than admit that it was the wrong decision, he defended it and used the times as an excuse. Just look at his voting record, he’s been very conservative over his career. It doesn’t matter though, people change, and actions speak louder than words. He’s doing good stuff as president and that’s what matters right now.
Edit: spelled Kamala wrong and I’m embarrassed
Perhaps rather than an abrupt about-face at 80 years old, you’re simply incorrect about Biden’s “history.”
He was right about schools. We lost a generation of black educators due to the way desegregation was handled nationwide. Biden accurately commented on this. We could have done better, which is literally what he was arguing for.
I actually learned of this fact tangentially, through an old episode of Revisionist History. His campaign ignored it because it’s safer to ignore than to trust people to understand nuance. Sound campaign move, but plays to a lie, fundamentally.
People change over time. Are all of your viewpoints the exact same as when you first paid attention to politics?
People change over time
“people change” is a seemingly reasonable cover for that doesn’t work for him because he staunchly stands by his wrong decisions for decades until it’s politically convenient for him to “change” despite it impacting his own life and he’s done it for every single one of his decisions and only “changes” once there’s no political back lash.
in ten years time (assuming he’s still alive) he’s going to back pedal on permanent student loan debt once an overwhelming majority of voters make it a core issue.
While I agree with you, at least he’s behaving reasonably now. I don’t like all his decisions but I do like that many of the decisions are being delegated as they should be, and would re elect him against either of the two R frontrunners in a heartbeat. That’s not high praise, but I do think his administration is doing much better than I thought it would
Edit: I’m surprised at the number of downvotes on the parent comment, they’re not exactly wrong.
for me: the permanent damage he’s done to my life was committed back in the 90’s/00’s and i would forgive him, but he still very publicly stands by his decisions against gay marriage, against gays in the military, pro-segregation and non-dischargeable student loan debt.
You don’t have to like or support him to acknowledge what the government is doing. Hell, I can even acknowledge that Trump made a few good decisions.
i hate trump; but i do admit that some of his decisions have made my life much better
I also hate Trump, significantly more than I hate Biden
i hate them both at the same level. trump because he’s a racist ass hat and biden because he permanently fucked up my life.
