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Re: fuagf post# 489861

Monday, 08/19/2024 6:31:51 PM

Monday, August 19, 2024 6:31:51 PM

Post# of 575246
I am so excited -- watching the dems self-destruct -- the coming days of dem heavy hitters trying to make chicken salad out of chicken shit --
How the Biden-Harris Economy Left Most Americans Behind
A government spending boom fueled inflation that has crushed real average incomes.
[excerpt]
President Biden claims that he inherited the worst economy since the Great Depression, but this isn’t close to true. The economy in January 2021 was fast recovering from the pandemic as vaccines rolled out and state lockdowns eased. GDP grew 34.8% in the third quarter of 2020, 4.2% in the fourth, and 5.2% in the first quarter of 2021. By the end of that first quarter, real GDP had returned to its pre-pandemic high. All Mr. Biden had to do was let the recovery unfold.
***
Instead, Democrats in March 2021 used Covid relief as a pretext to pass $1.9 trillion in new spending. This was more than double Barack Obama’s 2009 spending bonanza. State and local governments were the biggest beneficiaries, receiving $350 billion in direct aid, $122 billion for K-12 schools and $30 billion for mass transit. Insolvent union pension funds received a $86 billion rescue.

The rest was mostly transfer payments to individuals, including a five-month extension of enhanced unemployment benefits, a $3,600 fully refundable child tax credit, $1,400 stimulus payments per person, sweetened Affordable Care Act subsidies, an increased earned income tax credit including for folks who didn’t work, housing subsidies and so much more.

[all of it]
https://www.wsj.com/opinion/joe-biden-kamala-harris-economy-inflation-government-spending-donald-trump-f1608867?mod=opinion_lead_pos1
========
and wait for Kammies speech -- price and rent controls -- that'l fix it

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