this post was submitted on 12 Dec 2024
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politics

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Summary

President Joe Biden touted his administration’s economic recovery efforts, citing job growth, reduced inflation, and infrastructure investments, as he prepares to hand off a strong economy to Donald Trump.

Biden criticized Trump’s proposed steep tariffs on imports, warning they could harm the economy and reintroduce inflation.

Trump plans tariffs against China, Mexico, and Canada, raising concerns about trade disruptions similar to those seen during his first term.

Economists caution that such policies could quickly reverse recent economic gains and weaken the U.S. economy.

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[–] tywarth@lemmy.world 4 points 1 week ago (1 children)
[–] eugenevdebs@lemmy.dbzer0.com 3 points 1 week ago (1 children)

Trump always looks horrid, it's just genuinely baffling he can even move. I'd be shocked if he doesn't die in office on this term.

[–] Stern@lemmy.world 2 points 1 week ago

President Jorkin Dapeanus Vance. Horrifying.

[–] Pacattack57@lemmy.world 4 points 1 week ago (4 children)

Why does he look like Kim Jong Un in this picture 😂

[–] jaggedrobotpubes@lemmy.world 2 points 1 week ago

Just a small boy too scared to do anything but try and act tough.

[–] 4lan@lemmy.world 1 points 1 week ago

He kind of looks like that sad cat meme

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[–] reddit_sux@lemmy.world 3 points 1 week ago (5 children)

https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm

This is a chart showing percentage difference over 12 months of CPI for the last 20 years. Biden's presidency came with less than 1% inflation which only rise to record levels in the first 2 years. It has come down to high 2% and settled at that level.

In the last 12 months everything other than energy prices have rise by 2.4%. A 2-2.4% in prices after having 2 years of near 10% inflation.

You can see how Democrats saying that they have done good for economy and common man seems hollow.

[–] deo@lemmy.dbzer0.com 4 points 1 week ago

With the years:

[–] finitebanjo@lemmy.world 1 points 1 week ago (1 children)

Biden's term started in 2021, CPI peaked in 2022 and fell just as quickly.

Inflation actually peaked in Mid-2021 and fell.

[–] reddit_sux@lemmy.world 2 points 1 week ago* (last edited 1 week ago) (1 children)

I am not saying Biden or Democrats didn't do anything,

My point is 1$ thing was 1.1$ at the end of 2022, 1.12$ 2023 and 1.15$ at the end of 2024 when voting happened. The rise in food was much more substantial.

While at the same time, there was no growth in salary and the constant threat of being laid off.

Edit 1: People have a very limited memory and the mere perception that things are bad and wont change. It is understandable if they are uninterested in either outcome.

[–] finitebanjo@lemmy.world 1 points 1 week ago* (last edited 1 week ago)

And we should be thankful because it could have been, and almost certainly will be, much worse under Republican management.

The only way to truly solve these problems is with a supermajority willing to tax the rich and expand benefits and protections to the needy and working class, but the USA voted against that so they won't get solutions. In fact, the Republicans are primed to write the new Tax Plan when the old one expires in 2026, and their last plan was fucking catastrophic, so sucks to suck for them.

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[–] Clinicallydepressedpoochie@lemmy.world 3 points 1 week ago* (last edited 1 week ago)

Womp womp. I'm convinced these idiots think maniacs like trump coming in to raid government coffers is advantageous to themselves some how. I know there might be a criminal network where this is true but not the entire fucking GOP.

It's insane how the right controls the narrative so hard that some people believe in earnest that they have good economic policy when it really just is, "gubberment don't work, now gibbme all that money, nom nom nom."

[–] MacNCheezus@lemmy.today 1 points 1 week ago* (last edited 1 week ago) (4 children)

The problem with assertions like this is that they can never be conclusively proven or disproven. Literally every single president (at least during my lifetime) has blamed their predecessor for all of the problems plaguing the country and took credit for everything that improved, while their predecessor claimed credit for laying the groundwork and blamed their predecessor for all the challenges they faced.

The fundamental issue is that the same experiment can never be conducted twice under controlled conditions, because the world doesn't stop spinning and whatever the other guy did, he did, and we can't turn back time in order to find out how his opponent's choices would have played out. Sure, you can always pick and choose some factoids in order to spin a compelling "what if" scenario, but ultimately there's simply too many variables at play in order to reach a sufficiently solid conclusion.

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[–] Blackrook7@lemmy.world 1 points 1 week ago
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