Biden’s is crushing us with his spending and inflation

[Caribbean Hen]

The reason why Biden is losing his minority voters is simple

Inflation - food and gas prices

The lowest income earners have less xtra cash in the wallet and can’t even afford Mickey Dees

Here is a fact: we pay more in interest on treasury bills/notes than we spend on the entire DOD, it’s a vicious cycle and with the crazy inverted yield curve the short term rates are higher than a long-term. You can get 5.25 % on a 28 day T bill and thats better than 4.5 % on a one year note. Why does Janet have an inverted yield curve ?

She is borrowing money like crazy just to meet the obligations to our entitled population and CH is providing the cash

https://finance.yahoo.com/news/america- ... 00593.html

“The fiscal year starts Oct. 1, and in the first month the Treasury shelled out $88.9 billion in interest on its debt securities, while the Department of Defense spend $83.4 billion on military programs.

This is particularly alarming when you consider how much of the federal budget goes into defense, with the U.S. outspending every other country.”

Joey Dictator Rotten just keep spending paying off student loans that the Supreme Court has even told him he’s not authorized to do, but JoBozo just don’t care

Billions for The Ukraine with no endgame in sight

He probably has been told that the crash will happen on my next guys watch so don’t worry about it Jojo
just keep spending

Politicians on both sides are powerless to do anything about the out of control spending as the swamp rules… the few that have the guts to stand up and tell the truth like Rand Paul, are laughed at…. Americans are spoiled too, you can’t raise their taxes on one hand, and you can cut their entitlements only other

A Day of reckoning is coming!

[kalm]

The reason why Biden is losing his minority voters is simple

Inflation - food and gas prices

The lowest income earners have less xtra cash in the wallet and can’t even afford Mickey Dees

Here is a fact: we pay more in interest on treasury bills/notes than we spend on the entire DOD, it’s a vicious cycle and with the crazy inverted yield curve the short term rates are higher than a long-term. You can get 5.25 % on a 28 day T bill and thats better than 4.5 % on a one year note. Why does Janet have an inverted yield curve ?

She is borrowing money like crazy just to meet the obligations to our entitled population and CH is providing the cash

https://finance.yahoo.com/news/america- ... 00593.html

“The fiscal year starts Oct. 1, and in the first month the Treasury shelled out $88.9 billion in interest on its debt securities, while the Department of Defense spend $83.4 billion on military programs.

This is particularly alarming when you consider how much of the federal budget goes into defense, with the U.S. outspending every other country.”

Joey Dictator Rotten just keep spending paying off student loans that the Supreme Court has even told him he’s not authorized to do, but JoBozo just don’t care

Billions for The Ukraine with no endgame in sight

He probably has been told that the crash will happen on my next guys watch so don’t worry about it Jojo
just keep spending

Politicians on both sides are powerless to do anything about the out of control spending as the swamp rules… the few that have the guts to stand up and tell the truth like Rand Paul, are laughed at…. Americans are spoiled too, you can’t raise their taxes on one hand, and you can cut their entitlements only other

A Day of reckoning is coming!

We woukd have fought the Axis and paid for the GI bill after but they were just to gosh darn expensive! Never mind the Marshall Plan.

[Caribbean Hen]

And not to mention the anointed self appointed geniuses over several administrations, never had the forethought to lock in rates when they were at zero for a decade or so

The idea was floated to Trump by Kudlow to sell a 100 year Bond at 1.25% and he was all for it but it didn’t get much support apparently.

They could’ve done this at the end of the financial crisis in 2008, but they totally whiffed

[GannonFan]

The reason why Biden is losing his minority voters is simple

Inflation - food and gas prices

The lowest income earners have less xtra cash in the wallet and can’t even afford Mickey Dees

Here is a fact: we pay more in interest on treasury bills/notes than we spend on the entire DOD, it’s a vicious cycle and with the crazy inverted yield curve the short term rates are higher than a long-term. You can get 5.25 % on a 28 day T bill and thats better than 4.5 % on a one year note. Why does Janet have an inverted yield curve ?

She is borrowing money like crazy just to meet the obligations to our entitled population and CH is providing the cash

https://finance.yahoo.com/news/america- ... 00593.html

“The fiscal year starts Oct. 1, and in the first month the Treasury shelled out $88.9 billion in interest on its debt securities, while the Department of Defense spend $83.4 billion on military programs.

This is particularly alarming when you consider how much of the federal budget goes into defense, with the U.S. outspending every other country.”

Joey Dictator Rotten just keep spending paying off student loans that the Supreme Court has even told him he’s not authorized to do, but JoBozo just don’t care

Billions for The Ukraine with no endgame in sight

He probably has been told that the crash will happen on my next guys watch so don’t worry about it Jojo
just keep spending

Politicians on both sides are powerless to do anything about the out of control spending as the swamp rules… the few that have the guts to stand up and tell the truth like Rand Paul, are laughed at…. Americans are spoiled too, you can’t raise their taxes on one hand, and you can cut their entitlements only other

A Day of reckoning is coming!

We woukd have fought the Axis and paid for the GI bill after but they were just to gosh darn expensive! Never mind the Marshall Plan.

We didn't spend all that money at the start of Biden's administration to fight a world war, send a generation to college, or rebuild continental Europe. We spent the money because Biden thought all government spending is good, and the more of it the more better it is. Modern monetary theory was proven wrong on a macro scale and we're still suffering through it (i.e. 4 years of real wages being behind where they were 4 years ago). You're right, we should spend money to fight evil, educate those who fought that evil, and to rebuild the world after a horrific war. But as regards to the start of Biden's administration, we shouldn't spend money simply because we want to spend money.

[Caribbean Hen]

And you can forget about any rate cuts, been saying they need to go up

So GF, why is Jan paying higher interest on the short end of the inverted yield curve? That’s just dumb but dumb is what we should expect from the Biden administration I guess…

We only have 12 years ….. this should be the real national emergency instead of climate change right now

[UNI88]

And you can forget about any rate cuts, been saying they need to go up

So GF, why is Jan paying higher interest on the short end of the inverted yield curve? That’s just dumb but dumb is what we should expect from the Biden administration I guess…

We only have 12 years ….. this should be the real national emergency instead of climate change right now

Questions:

1) Why is the debt/deficit only a problem when the opposing party is in the White House? If trump is reelected I predict that he will do little to address it but you will stop crowing about it.

2) Why can't we do something about the deficit and climate change? We're the United States of fvcking America, are you telling me we can only focus on one problem at a time?

[houndawg]

The reason why Biden is losing his minority voters is simple

Inflation - food and gas prices

The lowest income earners have less xtra cash in the wallet and can’t even afford Mickey Dees

Here is a fact: we pay more in interest on treasury bills/notes than we spend on the entire DOD, it’s a vicious cycle and with the crazy inverted yield curve the short term rates are higher than a long-term. You can get 5.25 % on a 28 day T bill and thats better than 4.5 % on a one year note. Why does Janet have an inverted yield curve ?

She is borrowing money like crazy just to meet the obligations to our entitled population and CH is providing the cash

https://finance.yahoo.com/news/america- ... 00593.html

“The fiscal year starts Oct. 1, and in the first month the Treasury shelled out $88.9 billion in interest on its debt securities, while the Department of Defense spend $83.4 billion on military programs.

This is particularly alarming when you consider how much of the federal budget goes into defense, with the U.S. outspending every other country.”

Joey Dictator Rotten just keep spending paying off student loans that the Supreme Court has even told him he’s not authorized to do, but JoBozo just don’t care

Billions for The Ukraine with no endgame in sight

He probably has been told that the crash will happen on my next guys watch so don’t worry about it Jojo
just keep spending

Politicians on both sides are powerless to do anything about the out of control spending as the swamp rules… the few that have the guts to stand up and tell the truth like Rand Paul, are laughed at…. Americans are spoiled too, you can’t raise their taxes on one hand, and you can cut their entitlements only other

A Day of reckoning is coming!

Rand Paul.

Surely this is the end of times.

[Caribbean Hen]

And you can forget about any rate cuts, been saying they need to go up

So GF, why is Jan paying higher interest on the short end of the inverted yield curve? That’s just dumb but dumb is what we should expect from the Biden administration I guess…

We only have 12 years ….. this should be the real national emergency instead of climate change right now

Questions:

1) Why is the debt/deficit only a problem when the opposing party is in the White House? If trump is reelected I predict that he will do little to address it but you will stop crowing about it.

2) Why can't we do something about the deficit and climate change? We're the United States of fvcking America, are you telling me we can only focus on one problem at a time?

I said it was a bi partisan problem and it’s more urgent than climate change, but yet everyone is all fired up about climate change and no one talks about out of control spending

[UNI88]

Questions:

1) Why is the debt/deficit only a problem when the opposing party is in the White House? If trump is reelected I predict that he will do little to address it but you will stop crowing about it.

2) Why can't we do something about the deficit and climate change? We're the United States of fvcking America, are you telling me we can only focus on one problem at a time?

I said it was a bi partisan problem and it’s more urgent than climate change, but yet everyone is all fired up about climate change and no one talks about out of control spending

I've been talking about it on CS since at least 2009 and on AGS for longer.

That's debatable. Some would argue that increased government spending prolonged the Great Depression.

The question of whether we would be better off under McCain than Obama is an irrelevant circle jerk. The economy would still be in the toilet and we could argue forever about whether it would be worse under Obama or McCain.

IMO, the impact of all of the planned spending on the deficit is going to cause huge problems down the road and we're going to regret it in the long run. We're asking our children and grandchildren to pay to get us out of a mess that we created (and by we I mean our elected Congress, Wall St, banks, domestic auto manufacturers, etc.) and it's going to bite someone in the a$$ down the road.

People who are really concerned about out of control spending vote Libertarian not Republican.

[Caribbean Hen]

I said it was a bi partisan problem and it’s more urgent than climate change, but yet everyone is all fired up about climate change and no one talks about out of control spending

I've been talking about it on CS since at least 2009 and on AGS for longer.

That's debatable. Some would argue that increased government spending prolonged the Great Depression.

The question of whether we would be better off under McCain than Obama is an irrelevant circle jerk. The economy would still be in the toilet and we could argue forever about whether it would be worse under Obama or McCain.

IMO, the impact of all of the planned spending on the deficit is going to cause huge problems down the road and we're going to regret it in the long run. We're asking our children and grandchildren to pay to get us out of a mess that we created (and by we I mean our elected Congress, Wall St, banks, domestic auto manufacturers, etc.) and it's going to bite someone in the a$$ down the road.

People who are really concerned about out of control spending vote Libertarian not Republican.

That kind of sensible talk could get you labeled as a far right nut job though …

[Pwns]

We've got too many in the GOP who are deluded into ever thinking they're going to make any meaningful cuts to social security. You can't just make cuts when people have already planned retirement around their SS income. It's not even that much of a tax burden to lift the cap on what income you pay SS on. I can't take anyone seriously who doesn't want to make that change. That's where you see the difference between people serious about balancing the budget versus those that just represent the rich and powerful.

[Caribbean Hen]

We've got too many in the GOP who are deluded into ever thinking they're going to make any meaningful cuts to social security. You can't just make cuts when people have already planned retirement around their SS income. It's not even that much of a tax burden to lift the cap on what income you pay SS on. I can't take anyone seriously who doesn't want to make that change. That's where you see the difference between people serious about balancing the budget versus those that just represent the rich and powerful.

They could start by cutting snap benefits for people that don’t need it…. Creating incentives for people not to work for power and votes is a Dem problem. Democrat voters in the inner cities might be finally catching on to this

“The welfare state is not really about the welfare of the masses. It is about the egos of the elites.”

Sowell

[kalm]

We woukd have fought the Axis and paid for the GI bill after but they were just to gosh darn expensive! Never mind the Marshall Plan.

We didn't spend all that money at the start of Biden's administration to fight a world war, send a generation to college, or rebuild continental Europe. We spent the money because Biden thought all government spending is good, and the more of it the more better it is. Modern monetary theory was proven wrong on a macro scale and we're still suffering through it (i.e. 4 years of real wages being behind where they were 4 years ago). You're right, we should spend money to fight evil, educate those who fought that evil, and to rebuild the world after a horrific war. But as regards to the start of Biden's administration, we shouldn't spend money simply because we want to spend money.

Yours and subsequent posts are kind of my point. Everyone has pet spending cuts. Large companies benefit from spending in their segment.

I’m glad inflation was short lived and has tracked back down. There multiple causes and no guarantees any president and fed would have handled it different.

You are obsessed with proving Reaganomics/neo-liberalism /“free trade” correct. You’ve fought hard but sometimes you just need to take the L.

[houndawg]

Questions:

1) Why is the debt/deficit only a problem when the opposing party is in the White House? If trump is reelected I predict that he will do little to address it but you will stop crowing about it.

2) Why can't we do something about the deficit and climate change? We're the United States of fvcking America, are you telling me we can only focus on one problem at a time?

I said it was a bi partisan problem and it’s more urgent than climate change, but yet everyone is all fired up about climate change and no one talks about out of control spending

No one talked about the $7trillion trump added to the debt either.

And climate change is a much bigger deal than the deficit.

[Caribbean Hen]

We didn't spend all that money at the start of Biden's administration to fight a world war, send a generation to college, or rebuild continental Europe. We spent the money because Biden thought all government spending is good, and the more of it the more better it is. Modern monetary theory was proven wrong on a macro scale and we're still suffering through it (i.e. 4 years of real wages being behind where they were 4 years ago). You're right, we should spend money to fight evil, educate those who fought that evil, and to rebuild the world after a horrific war. But as regards to the start of Biden's administration, we shouldn't spend money simply because we want to spend money.

Yours and subsequent posts are kind of my point. Everyone has pet spending cuts. Large companies benefit from spending in their segment.

I’m glad inflation was short lived and has tracked back down. There multiple causes and no guarantees any president and fed would have handled it different.

You are obsessed with proving Reaganomics/neo-liberalism /“free trade” correct. You’ve fought hard but sometimes you just need to take the L.

Nope, inflation is not over, the fed needs to raise rates

read my post and try to learn why

[BDKJMU]

We've got too many in the GOP who are deluded into ever thinking they're going to make any meaningful cuts to social security. You can't just make cuts when people have already planned retirement around their SS income. It's not even that much of a tax burden to lift the cap on what income you pay SS on. I can't take anyone seriously who doesn't want to make that change. That's where you see the difference between people serious about balancing the budget versus those that just represent the rich and powerful.

The way SS is written is based on what you pay in. Say you lift the tax cap. Then someone who is weathly and say makes around a million a year, with no tax cap, would now pay in about 6x what they pay now (2024 cap is 168.6k) But then they get about 6x in payments when they retire. So removing the tax cap does nothing.

SS trust fund still has a surplus, but is paying out more than it takes in since around 2010. Once the surplus is gone around 2035, the cuts will be automatic- SS trust fund will only pay out what it takes in, so the problem will take care of itself without pols having to do anything.

Plus the unfunded liabilities of SS is a drop in the bucket compared to the unfunded liabilities of medicare. Thats where the attention should be focused.

[BDKJMU]

We didn't spend all that money at the start of Biden's administration to fight a world war, send a generation to college, or rebuild continental Europe. We spent the money because Biden thought all government spending is good, and the more of it the more better it is. Modern monetary theory was proven wrong on a macro scale and we're still suffering through it (i.e. 4 years of real wages being behind where they were 4 years ago). You're right, we should spend money to fight evil, educate those who fought that evil, and to rebuild the world after a horrific war. But as regards to the start of Biden's administration, we shouldn't spend money simply because we want to spend money.

Yours and subsequent posts are kind of my point. Everyone has pet spending cuts. Large companies benefit from spending in their segment.

I’m glad inflation was short lived and has tracked back down. There multiple causes and no guarantees any president and fed would have handled it different.

You are obsessed with proving Reaganomics/neo-liberalism /“free trade” correct. You’ve fought hard but sometimes you just need to take the L.

It wasn’t short lived, and HASN’T come down. CPI is up 21%+ under Biden, and still rising.

[kalm]

Yours and subsequent posts are kind of my point. Everyone has pet spending cuts. Large companies benefit from spending in their segment.

I’m glad inflation was short lived and has tracked back down. There multiple causes and no guarantees any president and fed would have handled it different.

You are obsessed with proving Reaganomics/neo-liberalism /“free trade” correct. You’ve fought hard but sometimes you just need to take the L.

It wasn’t short lived, and HASN’T come down. CPI is up 21%+ under Biden, and still rising.

3% will be the new norm regardless
of who’s in office. And still better than our cohorts in Europe.

[BDKJMU]

I said it was a bi partisan problem and it’s more urgent than climate change, but yet everyone is all fired up about climate change and no one talks about out of control spending

No one talked about the $7trillion trump added to the debt either.

And climate change is a much bigger deal than the deficit.

Well, Biden has already added 7+ trillion, amd he has another 8 months to go.

And no lol, climate change isn’t a bigger deal than the debt (I assume you mean’t debt when you typed deficit). I don’t GAF about so called Global Warming, only the left does. All the left, and the majority of the right, doesn’t GAF about the debt, either.

The reason I do care about the debt:
-With the current trajectory the bubble could burst while I’m still alive. If its after I’m gone IDGAF.
-The high and growing debt contributes to higher inflation and interest rates now, 2 things I don’t like.

[BDKJMU]

It wasn’t short lived, and HASN’T come down. CPI is up 21%+ under Biden, and still rising.

3% will be the new norm regardless
of who’s in office. And still better than our cohorts in Europe.

Up 21%. If prices don’t actually go down, inflation hasn’t come down.

[houndawg]

We've got too many in the GOP who are deluded into ever thinking they're going to make any meaningful cuts to social security. You can't just make cuts when people have already planned retirement around their SS income. It's not even that much of a tax burden to lift the cap on what income you pay SS on. I can't take anyone seriously who doesn't want to make that change. That's where you see the difference between people serious about balancing the budget versus those that just represent the rich and powerful.

The way SS is written is based on what you pay in. Say you lift the tax cap. Then someone who is weathly and say makes around a million a year, with no tax cap, would now pay in about 6x what they pay now (2024 cap is 168.6k) But then they get about 6x in payments when they retire. So removing the tax cap does nothing.

SS trust fund still has a surplus, but is paying out more than it takes in since around 2010. Once the surplus is gone around 2035, the cuts will be automatic- SS trust fund will only pay out what it takes in, so the problem will take care of itself without pols having to do anything.

Plus the unfunded liabilities of SS is a drop in the bucket compared to the unfunded liabilities of medicare. Thats where the attention should be focused.

SS would work just fine if Congress would keep their hands out of it.

[Caribbean Hen]

3% will be the new norm regardless
of who’s in office. And still better than our cohorts in Europe.

Up 21%. If prices don’t actually go down, inflation hasn’t come down.

Janet is a dunce


https://markets.businessinsider.com/new ... es-2023-10

event.

"When rates were practically zero, every Tom, Dick, Harry, and Mary in the United States refinanced their mortgage," Druckenmiller said. "Unfortunately we had one entity that did not, and that was the US Treasury."

"Janet Yellen — I guess because political myopia, whatever — was issuing two years at 15 basis points when she could have issued 10 years at 70 basis points or 30 years at 180 basis points," Druckenmiller continued, referring to the terms of the debt issued by the Treasury

I literally think if you go back to Alexander Hamilton, it was the biggest blunder in the history of the Treasury. I have no idea why she's not been called out on this, she has no right to still be in that job after that," Druckenmiller said

[houndawg]

No one talked about the $7trillion trump added to the debt either.

And climate change is a much bigger deal than the deficit.

Well, Biden has already added 7+ trillion, amd he has another 8 months to go.

And no lol, climate change isn’t a bigger deal than the debt (I assume you mean’t debt when you typed deficit). I don’t GAF about so called Global Warming, only the left does. All the left, and the majority of the right, doesn’t GAF about the debt, either.

The reason I do care about the debt:
-With the current trajectory the bubble could burst while I’m still alive. If its after I’m gone IDGAF.
-The high and growing debt contributes to higher inflation and interest rates now, 2 things I don’t like.

No problem for me, you suckers deal with it.

My point stands. Profligate spending is ignored when its done by Republicans.

[houndawg]

Up 21%. If prices don’t actually go down, inflation hasn’t come down.

Janet is a dunce


https://markets.businessinsider.com/new ... es-2023-10

event.

"When rates were practically zero, every Tom, Dick, Harry, and Mary in the United States refinanced their mortgage," Druckenmiller said. "Unfortunately we had one entity that did not, and that was the US Treasury."

"Janet Yellen — I guess because political myopia, whatever — was issuing two years at 15 basis points when she could have issued 10 years at 70 basis points or 30 years at 180 basis points," Druckenmiller continued, referring to the terms of the debt issued by the Treasury

I literally think if you go back to Alexander Hamilton, it was the biggest blunder in the history of the Treasury. I have no idea why she's not been called out on this, she has no right to still be in that job after that," Druckenmiller said

....he said that did he?



Never heard of him.

[UNI88]

What’s really happening in America’s economy (Trump and Biden spin aside)

The good
If you’re already optimistic about the economy’s current state, you’re going to feel even better by parsing through some of the latest labor market data.

Currently, there are 8.5 million job openings. That exceeds the number of pre-pandemic job openings by 1.5 million. Meanwhile, there are 6.5 million unemployed people. That means there’s more than one job per job seeker. In the decade preceding the pandemic, that ratio was 0.6 on average, signifying there were more job seekers than the number of job openings.

Americans’ average hourly earnings are 22% higher than before the pandemic, according to Bureau of Labor Statistics data. Though wage increases have been slowing, they’re rising at a faster rate than prices.

That’s good news for consumers, since it means their income is stretching further.

The bad
Though inflation has cooled significantly from its peak in the summer of 2022, further progress toward the Federal Reserve’s 2% target is looking like it’ll be a lengthy process.
...
The ugly
The biggest flashing red light in the economy right now is the level of debt people are racking up.