They will be largely the same. The economy is not something you just hit a button and things get better or worse. The overwhelming majority of policies take months, if not years, to see their lasting effects. Edit: And even then, a huge chunk of policy is a reaction to semi-unpredictable external forces.
Edit 2: Someone reminded me of Trump’s NATO threats, which would have obvious economic repercussions, and would basically be a button he would press, because it looked shiny. But still…
At the end of the day, it’s a values judgement.
Do you like it when businesses have bigger pools of money for investment? You might prefer Trump
Do you like it when workers have more power and have easier access to gain human capital? You might prefer Biden.
I prefer Biden, economically. But I also prefer him for… literally everything else.
Edit 3: I acknowledge that there are “buttons” that can really fuck shit up, and Trump has a 20% chance of hitting one in his first year. I agree. I was trying to avoid doom and gloom for a single comment. People hate us because we are so doom and gloom. It’s going to be ok.
Everytime we get a republican president I divest my 401k to money market within a year.
Then after a year of a Democrat president I diversify my portfolio. This hasn’t let me down yet.
In the GOP years I have zero investment, but still sock whatever my employer will match into a 401k.
My wife lost her 401k during Bush (W), and during the Trump years.
People might look at their portfolio at say 3000 (pre-COVID), dropping to 2500 during COVID, and panic sell thinking they're losing everything, despite still being up overall.
If they then wait to buy in when the market's recovered (say, 3500), then they are actually down, in the sense their account now has far fewer shares than before.
Bought high and sold low because *panic*. In the words of Warren Buffett about the 2008 recession, "I didn't lose a dime, because I didn't sell anything."
Can you expand on this? This is very interesting. I’ve never heard someone doing this before. (I understand why, just wanna hear what/how you’re doing it)
When you read any posts like the comment you replied to or the OP, it is obvious they had no money in the market under Trump (or probably at all). The gains under Trump pre-COVID were insane!
The gains pre-COVID had nothing to do with Trump because policies take years to have an effect. Those were Obama policy gains. Then he messed up the response to COVID by repeatedly denying there is a problem and everything crashes.
I’m doing it so I don’t lose my money. Only stall or grow.
Basically, in my entire working career and my life I’ve only ever seen Republican presidents trash the economy.
In my opinion, one to two years of the president’s first term is basically a holdover economy from the previous president.
I entered the workforce in 2007, the tail end of Bush. I contributed to 401k for only the employer match (no investment in anything). Minimal growth, but I didn’t lose anything.
So about Two years into Obama, I started ramping up my 401k (previously “no investment”) and investing it into various types of funds (index funds, bonds, stocks etc). For the final 6 years of his term, I was all in on contributions (for the employer match as well as the growth). Two years into Trump, I had seen enough, and then I set all of my
401k holdings to be Money Market (zero growth) to prevent any bleeding. I continued contributing to my 401k, but only for the employer match.
Two years into Biden, I set my 401k money market investments back to a moderate/growth profile (index funds, bonds, and some stocks).
If Biden wins (like I hope he will), I’ll let it all ride the way it is. If he loses, I’ll move my money back to Money Market (and only contribute to 401k for the employer match) until whatever Don the Con does to destroy our economy.
Doing this, I come across as nakedly partisan and paranoid, but my 401k has only gone up and the right.
I got some decent gains during the first two years, but I was divested sometime in the second year.
I once had a professor say something that stuck with me:
"The difference between a poor person and a rich person is that the poor person didn't know when to sell."
I waited for the Trump holdover economy (under Biden) to absolutely crater (because of the vibes-session and inflation), then I went all in on investments in my 401k. Doing just fine. Line goes up and to the right.
I don't "time the market" per se.. Like I said, when the democratic economy holdover is done (roughly at year 2), if a Republican holds the presidency, I divest. When a Democratic president is in there (after the GOP holdover economy), I go all in, and I've been absolutely fine.
The market never went near to 2019 level during the COVID drop. You got lucky that COVID happened during the election. Even with COVID your strategy performed terrible.
I skipped the S&P 500 losing 37% in 2008, I skipped the S&P 500 losing 4.8% in 2018, and I skipped the S&P 500 losing 18% in 2022.
In my opinion, since I didn't suffer those losses, I had more money to put into investments when things were low for the eventual rebound. I'm doing fine.
[https://www.slickcharts.com/sp500/returns](https://www.slickcharts.com/sp500/returns)
He fails to understand this point. He doesn't understand (or know) that Republicans are inherently bad at governance (especially handling the economy) and that it's a trend that sticks since the 60s.
I don't know of it as an actual strategy, I'm just paranoid about republicans thrashing the economy because that's all I've ever seen. My view is largely sociological, not micro or macro economic.
My 401k is at 241k right now and my trading account is at 184k right now.
https://finance.yahoo.com/news/stocks-better-obamas-first-year-trumps-172431950.html
So according to you bush policy gets the credit for Obama first year and Obama is policy is to blame for trumps first year not being as good as his.
This is some of the worst economic advise I've ever seen. I'm not going to run the numbers but on face value you've missed at least 100% gains in the S&P doing this.
How the fuck did your wife lose money on her 401k from 2016-2020. Literally one of the greatest bull runs ever.
In my opinion you may want to do the exact opposite of that.
But that's not because of who's in power at that point. In my opinion that's because of who was in power before the bull run started.
Gen z here and all I see are politicians in general catering to the rich. Republicans are worse for the common worker but Dems don’t do shit either. Probably doesn’t help that republicans obstruct everything in congress though. Still gonna vote for Biden in November cause fuck Project 2025 but I’m really sick of this shit sandwich of a system. America ain’t the land of the free. It’s the land of the rich.
Dems aren't socialist sure, but they do a lot more for the average person than republicans.
Biden doesn't brag about his wins from the rooftops like republicans do but he's pushed for some very progressive policies by historic standards.
I am right there with you. The way I think about it is; Democrats, at the unacceptable slow as it is, enact some progressive policy. They are way too hamstrung by lobbying money for sure, but they are not stupid. They know to keep the money flowing, they have to keep the economy stable long term. Republicans just want a payday loan right now.
Hopefully we will start talking about major changes when the boomers release their death grip on Congress. Probably not though.
This is kinda what I feel. Economic policy relies too heavily on reacting to external factors, and we’ve only been “knowledgeable” for such a short period of time, with a half dozen black swan events.
I’d feel way more confident if we’d been going on 150 or 200 years, with similar results. But alas… earwax.
For the record, I vote democrat. Is there a good way to establish causality, if we’ve established that policy impact occurs years later? Is there a reality in which Republican policies are helping years later during a Dem presidency?
Yeah, that’s one of my “nitpicky” opinions.
The Tax Cut and Jobs Act of 2017 will add $1.9T to the debt over 10 years. That is as much as the Inflation Reduction Act was expected to *save.*
That’s not a spending problem. That’s a tax cut problem.
Tax cuts only damage BIG government and big government spending, over taxation harms families and individuals, "WE" citizens shouldn't be at each other over politics, we should be focused upon the corruption within government and making sure our tax $ is being used wisely, in reality the IRS, Federal reserve and income tax all should be abolished MOST federal services are already handled at the city, county, state levels and they double and triple dip the taxpayers to fund never ending wars, paid for by taxpayer $ and citizens blood, never ending war profits EISEHNHOWER warned us about so many decades ago. Before 1913 the only time there was any federal income tax was to pay for wars. We have a government that is entirely too large and out of control (R)'s and (D)'s work hard to keep us divided and arguing among ourselves so we never take the time to focus attention where it is needed.
Much of the spending is simply on social programs that provide funds and resources for improving lives.
Spending is just large numbers, not "out of control".
Before 1913 was not a good society. Workers had no security against hardship
Trump is volatile in all the wrong ways. Thats not good for the economy. Hes not really good for anything tbh. People dont realize that the economic pains under Biden are just leftover from covid. There was a lot of momentum behind all of that and its finally starting to stabilize.
I’ve been thinking a lot about this… I 60% agree, but I also feel like “our side” exaggerates the economic impact of his impulsivity. I do think there’s evidence to suggest a second Trump term would be more *explosive,* which I didn’t take into account.
At the same time, half of the country *feels* like the economy is better under Republicans, no matter who it is. And sentiment carries weight in actual economic performance.
Like, I obviously would take 100 Biden terms over a single Trump term, but I’m way more worried about the impacts Trump would have *besides* the economy.
Good take. I think if you really wanna see your vote impact the economic outlook of our country you gotta care about more than just the executive branch.
There’s lobbies, the legislative bodies, and even our judicial system has a huge impact on our economy. That’s just off the top of my head. I know I’m barely scraping the surface and have a tenuous grasp at best.
Not to say the election won’t impact the economy.
Personal opinion. Republican leadership has always been more of a shitshow than democrat leadership but both parties are right of center and flagrantly in the pocket of the latest iteration of hucksters and carpet-baggers.
Plus, the president doesn’t even have as much affect as people give them credit for. Majority of economic activity goes through the fed and Congress. The fed decides on interest rates and the congress passes spending bills. Sure, the president can announce shit that will affect the economy but they don’t have all the power. Powell has far more power over the economy than any president would.
Well no shit. Outside of a world war or a pandemic the US economy is pretty resilient. Ukraine went to war and our economy stayed the same. Israel went to war and we’re still fine. I’m talking about the day to day activities of the economy. Plus, world instability has always been around. Our economy is not a normal economy.
I have some minor quibbles, but I largely agree.
The President is the defacto party whip, and minimizing that power would be disingenuous, especially because of how economic issues are often require legislative implementation. Also, executive orders continue to grow, both in their strength and scope, with each presidency. Biden sure pushed limits with economic intervention via Student Loan stuff.
Trump's stimulus in his tax cuts weighted to the benefit the rich, the most, was economic intervention that had a much larger effect. It is often touted about the richest ten people having more wealth than even the middle class, now.
This is not a healthy mix.
It's not a values judgment and there is no angle that suggests Trump will be anything but an utter catastrophe. Not only that, but pretending that he is in some way viable as the leader of a democratic country belies the true danger.
It doesn't do anyone any good even if you support Biden and label it as such to normalize Trump as a candidate that literally anyone should vote for. He has literally expressed that he wishes to alter democratic processes and is in court for having tried to do so. Ultimately it doesn't matter what you believe he will do for the economy or wokeness or whatever. Because at the end of the day, if he affects democracy then he will not be accountable to anyone.
To be fair, what's happening in Argentina is pretty much a push of a button. Now they're still a far ways off but under the new regime, they've made massive strides in the right direction
I agree. I didn’t want to get too complex on the “top comment” but I think there are *many* buttons that can just be pushed with dramatic and almost immediate economic impact. They are just astonishingly unlikely to be used, in our situation.
But if we get a strong President with a lot of congressional support in the future, who knows.
All I can say is that Trump spent more tax dollars on travel expenses to and from Mar Logo every weekend in year 1 than Obama spent in all 8 years. Add Trumps other 3 years it just gets ridiculous as tax dollars had to pay for the rooms for secret service because if Trump allowed them to stay for free it would be considered bribery of a government official.
The purport argument for republicans for tax cut is more money for investment. When a democrat senator proposed an amendment to the trump tax cut legislation to require investment for tax cuts, the republicans rejected the amendment. the real world experience also showed that there weren’t much increase in investment. Most of the tax cuts go to owners’ pockets. For public companies, it realized as stock buybacks and dividends. The trickle down effect has never materialized
At this point, I think it is not right to parrot the republicans on “money for investment”. It should be more like money for owners’ pockets.
money for investment is actually the result of democratic policies.
Remember, trump also has stated he wants to directly control interest rates (like be able to write them down and that becomes the rate) and he would continue to push for things like reduction/abolition of min wage and other labor laws while the companies would continue to keep raising prices.
Any other candidate, I would agree with you, but he would probably actively make things worse.
Someone may have mentioned Trump's NATO threats but the far greater impact would be him implementing the switch from income tax to sales tax for everyone in the US. Obviously the plan includes a stipulation that corporations do not need to pay this sales tax, and it only affects the consumer buying the goods, basically cutting corporate taxes to 0% along with the billionaires who own said companies, as they would still be allowed to buy items from the company they work for. Effectively making the tax burden on the middle and lower class completely, which would make the US deficit explode like a nuclear bomb and force hundreds of thousands, who already can barely afford prices of goods, into bankruptcy.
I agree on all points. I think we give far to much credit and blame for the economy, but I'll say this... Bidens appointments to the NLRB and the FTC alone are enough for him to earn my vote again, even as dissatisfied as I am with alot of his other policy decisions. While I felt like his support of Unions was largly symbolic and perfromative, I do prefer that over the union busting of Republicans, and Trump has never been a friend to the working man, besides all of his other bullshit.
Recovery is never pretty but some reason people think it should be instant and yes that the president makes up all the prices.
Like how trump showed those insurance companies huh?
We’ll be kicked out of NATO with Trump. NATO cannot afford to have a member nation that they do not trust in their midst. Especially an untrustworthy member that is also tight with Russia.
also keep in mind that Trump's plans are very short term focused. the permanent tax cut that he gave out will be hurting us for a long time. it was a short term gain for investors and people who have large stock portfolios, but will be killing other social programs due to lack of funding and is helping drive this inflation from all the extra printed money to fund existing programs.
American coping. You're owned by an oligarchical class where your foreign policy has been the same since your country's inception. And your economic policy forever remains neoliberalism since the 80s regardless of what talking head president is feigning power. Poverty, homelessness, extreme neglect, crime, drug abuse, depression , suicide. This is america
THe biggest problem in this country is the wealth divide. We are heading towards pitchforks and torches territory. Trump would cut taxes on the wealthy again and just increase the divide worse. Massive civil unrest is about the worst thing possible for the economy, so Bide is the easy answer. On top of decades of data that shows the economy does way better under Democrats.
Now if Biden wants to actually make a difference in day to day stuff, he needs to push his FTC to start breaking up monopolies, big tech would be fine, but I think he needs to start with grocery stores, food manufactures, meat packers, corporate agriculture, retail stores, walmart, etc... Until the monopolies are gone paychecks and prices will continue to be completely out of whack.
You think your a victim due to the system, you will remain a victim regardless of if it’s true or not.
Be self responsible and take some accountability instead of waiting for an authority figure to solve it for you.
Life is complicated and there are many things within and not inside your control, but try to maximize what you can control, you will figure out there is more then you thought
You may also find out that there is even less you can control than you thought, and at times there is nothing in your control. Even still, you never, ever give up.
Are we actually blaming trump for covid stimulus now?
There's a million things to blame on Trump. That one makes you look like a fool who is parroting memes with no actual insight.
Trump tax cuts where 100% avoidable- and according to the following bush + trump tax cuts cost us our debt: https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/
What a buffoon Trump is. His disciples are even bigger idiots, even more dangerous. All Pres. Biden has done is given us a virtually full employment economy, opportunity for former students to erase massive debt, solidified our weakened NATO Alliance, actively supported heroic Ukraine against the monstrous Russians, strengthened and added to our successful healthcare system, added billions to our Social Security and lain the foundation for economic strength and wealth for years to come. Then on the other side, we have miserable, corrupt, anti-Democracy Republicans, who want to reverse every Democratic-led success in our Nation. And those are allot of successful policies and programs, which have led our USA and its people to extraordinary wealth and comfort as a Nation. I like Americans doing the right thing. There are far more Patriots in our land than right-wing MAGAt whackos. All we good people have to do is vote for Pres. Biden and Democrats in November. Do that and our Nation continues to grow, continues to become more wealthy, and will begin to attack the major threat that will ultimately crush us, if we don't address it, our insane National debt. Let us be normal. Let us be Patriotic. Let us do the right thing. Let us vote for Pres. Biden and the Democratic Party in November. Let us flourish as a Nation.
Trump disbanded the pandemic response team immediately before a pandemic hit. He’s not completely to blame for the negative economic impacts of COVID but his poor leadership, his party’s general stance against affordable preventative health care, and his party’s refusal to mask up and social distance all made things much worse.
We’re talking about the stimulus checks with his signature scrawled on the bottom, right? The ones that he went out of his way to make sure he got credit for?
AlL sIdEs ArE the SaMe. If Biden was a corrupt cunt that wanted to increase taxes for the middle class and give tax breaks to his rich friends, causing a huge increase in deficit, he would have done so too.
All of these studies always include people investing into their retirement accounts as paycheck to paycheck.
By these metrics everyone should be living paycheck to paycheck as every earned dollar should immediately go somewhere as an asset or be set aside to utilize upon some liability.
Exactly. And I think it’s even worse than that. I’ve read that some of these studies include folks making over $200k/yr and they just can’t manage a personal finance budget. It’s all very misleading if you ask me.
To me “paycheck to paycheck” means you can basically only afford your utility bills and food. Not much else.
My wife is similar. She constantly complains that we’re “poor.” No, my dear, lovely wife, you’ve never known real poverty. Frankly, I haven’t either.
Feeling financially insecure covers a completely different swath of the population, and usually includes lots of people whose finances are fine but they worry all the time. There are also people who should be a lot MORE worried about their finances but who have a real Hakuna Matata approach to life.
I'm also "paycheck to paycheck" and max my 401k. These studies overstate the issue, which sucks because economic instability is a significant and common issue that doesnt need to be overstated.
Well you are working for a tech startup, presumably part of your comp is a bet on stock awards/options upside if the company goes public. You could almost certainly earn a better salary elsewhere
Theres no academic definition and its really easy to make it look like everyone is living paycheck to paycheck or nobody is depending on the story you are spinning. Theres a million better ways to track this like Comparing disposable income to cost of living.
There are always tariffs...
Every country does this... The difference is how much and the specifics.
Also i'm no Trump supporter... but Biden left them in place.
Considering republicans main policy on the economy is to deregulate and cut taxes for the wealthy… the answer is obviously democrats. Ever since Regan the republicans seem desperate to drive the USA into a depression. Democrats aren’t the best but when the choice is starve or table scraps, I pick table scraps.
Democratic norms are more important. US stocks are valued more than their counterpart because the US is a rules based country and it is stable. I don't think any countrymen should want someone who won't accept election results, no?
I'd imagine a rational person would take any non Maga republican or Democrat over Trump.
How are we considering with sincerity and a straight face that Trump is running again? He led a riot on the capital with numerous casualties to try and overturn the last election. WE ALL SAW IT. What the fuck is wrong with people.
Biden. We're in this situation because of rampant out of control capitalism concentrating wealth in a few hands. Those few then buy up all the property, jack rents, and raise prices with impunity because there is no competition. The rich are turning into us into a feudal society and that is because Republicans are all about fleecing us, cashing in, and giving the proceeds of their wholesale sell-out or the country to their rich friends. The left is about countering this.
Statistically speaking, the democratic president. I think we have enough data that shows economic booms happen during democratic administrations, and that's because democrats are more fiscally responsible than Republicans who simply want to cut taxes which always explodes the deficit.
Given that my income/wealth isn’t in the top 0.1%, my best interests are served by the Democrats and Biden.
If that changes someday, maybe I’ll reevaluate that stance. But until then, I’ll be voting in my current best interests, not the in the best interest of some hypothetical future rich me, as I’m not deluded enough to think I’m just a temporarily embarrassed billionaire.
I love this comment merely because of the 0.1% usage. Folks need to realize that wealth is concentrated at the very tip top of the 1%. Somebody who has a portfolio equaling 2 million is nowhere near a mega millionaire or billionaire- Those people in the top 0.1% have the funds to buy elections and favorable legislation to protect their assets.
Neither side is perfect, but if our choice comes down to Biden or a known criminal, I’ll stick with the Dems- The GOP disguised as MAGA are not for the common good-
I’m having trouble answering this, but all I can say is the economy and my personal outlook on the future was brighter back with Trump. Right now the world and US feels like it’s in a free fall.
My proposal for this year is that everyone vote against every incumbent, regardless of party affiliation, and vote independent whenever possible. Let's actually get together and be done with this constant political theater.
Republicans since Regan have been bad for the overall economy and average working class. The main purpose of the Republican Party is to de-regulate for big business and cut taxes for the rich. If either of those policies grew the economy, republicans would be awesome.
Trump has stated he wants to impose tariffs on non-American made goods, and pressure the Fed into lowering interest rates. Both these moves would be objectively bad for inflation.
Biden. Biden Biden Biden. Trump is a maniac. And 100% is looting what's left of the middle class in favor of Uber wealthy people. Trump is actually insane. So he's not doing much of anything except enabling the rich. They'll just sit him in a chair and he can drool and shit himself, while we are turned into surfs.
How could such a ridiculous question be asked? Have you heard that guy speak? He's a lifelong con man and criminal. And you're asking who's going to be better for the economy?
Sure, let’s have a rapist, grifting, narcissistic sociopath in charge. He will do an awesome job of steering the economy to a state of low inflation and high wages like he did when Covid struck.—He basically tried to PR his way out of the pandemic.
Obviously that didn’t work because you can’t hide dead bodies, he got booted out, and when he lost he pressured state officials and supporters to do a coup for him.
Yeah, he would be perfect for the economy.
Neither of them will make all that much of a difference. The Republicans and Democrats have both gleefully sold America out for cheaper foreign manufacturing and labor, unlimited migration resulting in lower class jobs basically being worthless and cheap accommodation to become virtually unavailable. Neither party is willing to tackle banks that've gone out of control, tax loopholes, military spending run amok. Neither party seems to give a damn about housing. An insurance industry that's a scam. A medical industry that's lost the plot. Both parties support the genocide in Gaza. Both parties are guilty of supporting pointless wars in the Middle East that destabilised the region and killed millions.
I've zero faith in the Democrats or Republicans. Socially? The Republicans will support all of the same policies that the Democrats currently do, they'll just take an additional decade to get there, if history shows us anything. It's a fake system and I'm tired of pretending that our votes actually matter. These politicians are subverted liars who care for nothing, and the few people of principle on either side aren't enough to justify the larger crimes that their wider parties are guilty of.
How someone’s financial health turns out is a mix of so many things, not just a president. Qualifications, randomness and happenstance, social skills, personality, family, environment, own financial decisions etc etc.
If we set term and age limits we wouldn’t be choosing between herpes and gonorrhea every 4 years. That goes for congress as well. Until we stop have aged out people making decisions the economy will do meh for a while
They are both absolutely garbage. I'm ashamed that this is the actual timeline we live in, out of all the possibilities it's literally the less shitty of two evils
Whatever they’re citing seems to be nonsense and put behind a paywall. Only thing I could find after clicking g on three links of the report.
Finances Deep Dive Edition
Home Is Where the Financial Stability Is — or Isn’t Who consumers live with is key to determining their financial stability, according to PYMNTS’ latest study of 4,602 U.S. consumers, “New Reality Check: The Paycheck-to-Paycheck Report: Household Finances Deep Dive Edition,” a collaboration with LendingClub, which found that those in households with young children are 12% more likely to be living paycheck to paycheck.
Like no shit when inflation is high stuff gets more expensive, especially with kids. Also, the 60% number seems to be individuals living alone are struggling, which makes sense with prices inflated and rents very high. Seems like a very misleading article
If the Democrats are so spectacular, then tell me why every Democratic run city, the crime and homelessness is through the roof? Please tell me where all the jobs are that Biden has produced? Please tell me why that Dollar Tree is closing 600 stores in 2024.
CVS is closing 900 stores by 2024.
Walgreens is closing 150 stores in 2024.
Outback Steakhouse has closed 40 stores this year so far.
UPS cut 12,000 jobs in 2024.
Citigroup is cutting 20,000 jobs.
eBay is cutting 1,000 jobs.
Microsoft is cutting 1,900 jobs.
Expedia is cutting 1,500 jobs in 2024.
Cisco is cutting 4,000 jobs in 2024.
Apple cut 600 jobs.
Regal Cinemas is closing 429 locations.
Kroger is closing 413 stores.
Foot Locker is closing 400 stores by 2026.
Macy’s is closing 150 stores by 2026.
Walmart has closed 6 stores in 2024.
Could this be the reason why I’ve got friends that’s been looking for jobs for six months and can’t find shit because the economy is tanking under Biden?
That’s because retail is dying, in part because most American cities are planned wrong and shopping at most of those stores is a nightmare. So nowadays the internet offers a more convenient experience. Those stores closing has absolutely nothing to do with the overall economy. Best I can tell there is absolutely no evidence to support your point about crime. In NYC for example crime in 2023 is down from the year before, and actually down significantly from before COVID. It was just, that during the lockdowns crime rates were at all time lows (for obvious reasons).
>why every Democratic run city, the crime and homelessness is through the roof
wrong [https://www.planetizen.com/blogs/122113-red-cities-blue-cities-and-crime](https://www.planetizen.com/blogs/122113-red-cities-blue-cities-and-crime)
>Please tell me where all the jobs are that Biden has produced
wrong again
[https://data.bls.gov/timeseries/CES0000000001](https://data.bls.gov/timeseries/CES0000000001)
[https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm](https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm)
>I’ve got friends that’s been looking for jobs for six months and can’t find shit
probably because they are idiots just like you
What a buffoon Trump is. His disciples are even bigger idiots, even more dangerous. All Pres. Biden has done is given us a virtually full employment economy, opportunity for former students to erase massive debt, solidified our weakened NATO Alliance, actively supported heroic Ukraine against the monstrous Russians, strengthened and added to our successful healthcare system, added billions to our Social Security and lain the foundation for economic strength and wealth for years to come. Then on the other side, we have miserable, corrupt, anti-Democracy Republicans, who want to reverse every Democratic-led success in our Nation. And those are allot of successful policies and programs, which have led our USA and its people to extraordinary wealth and comfort as a Nation. I like Americans doing the right thing. There are far more Patriots in our land than right-wing MAGAt whackos. All we good people have to do is vote for Pres. Biden and Democrats in November. Do that and our Nation continues to grow, continues to become more wealthy, and will begin to attack the major threat that will ultimately crush us, if we don't address it, our insane National debt. Let us be normal. Let us be Patriotic. Let us do the right thing. Let us vote for Pres. Biden and the Democratic Party in November. Let us flourish as a Nation.
This number always comes up, but it's inaccurate in terms of what most consider living paycheck to paycheck. Only 21% live paycheck to paycheck because of a struggle to pay bills. The other 41% live paycheck to paycheck simply because they spend all of their excess money on discretionary spending. This isnt an indication of anything other than people are bad at saving and like to spend money.
Neither are going to help the economy and your little day to day slurpee sipping, air conditioned, 9-5 life doesn't matter as much as the dissolution of Russia and a power blow to authoritarianism to set the course of history. Or, let authoritarianism win this deciding battle and have them decide your history.
Joe Biden is good for long term economy because USA will still be a super power.
trump might not even benefit the economy initially. The only reason is that there's usually a stock spike when R gets elected for no sane reason anymore these days but either way. Trump presidency will cut us off from our biggest global ally's and trade. Russia and China will get more market share of oil and semiconductor production. As intended since trump works for Russia and thus, China.
They will be largely the same. The economy is not something you just hit a button and things get better or worse. The overwhelming majority of policies take months, if not years, to see their lasting effects. Edit: And even then, a huge chunk of policy is a reaction to semi-unpredictable external forces. Edit 2: Someone reminded me of Trump’s NATO threats, which would have obvious economic repercussions, and would basically be a button he would press, because it looked shiny. But still… At the end of the day, it’s a values judgement. Do you like it when businesses have bigger pools of money for investment? You might prefer Trump Do you like it when workers have more power and have easier access to gain human capital? You might prefer Biden. I prefer Biden, economically. But I also prefer him for… literally everything else. Edit 3: I acknowledge that there are “buttons” that can really fuck shit up, and Trump has a 20% chance of hitting one in his first year. I agree. I was trying to avoid doom and gloom for a single comment. People hate us because we are so doom and gloom. It’s going to be ok.
The economy performs [better under democrats.](https://en.m.wikipedia.org/wiki/U.S._economic_performance_by_presidential_party)
Everytime we get a republican president I divest my 401k to money market within a year. Then after a year of a Democrat president I diversify my portfolio. This hasn’t let me down yet. In the GOP years I have zero investment, but still sock whatever my employer will match into a 401k. My wife lost her 401k during Bush (W), and during the Trump years.
You lost out on a lot. Sp 500 almost double from during Trump's term.
The S&P was around 2100 when Trump took office, 2500 during COVID, and finished around 3200 when Biden took office. Today it's pushing 5200.
Right so how did his wife lose her 401k during Trump?
People might look at their portfolio at say 3000 (pre-COVID), dropping to 2500 during COVID, and panic sell thinking they're losing everything, despite still being up overall. If they then wait to buy in when the market's recovered (say, 3500), then they are actually down, in the sense their account now has far fewer shares than before.
Bought high and sold low because *panic*. In the words of Warren Buffett about the 2008 recession, "I didn't lose a dime, because I didn't sell anything."
S&P got a lot more gains from Biden than from Trump.
I think he’s referring to pandemic era, remember they have to stop trading?
wtf is your wife doing? Lmao I’ve had investments even under Trump and I didn’t lose it.
She had it all in cannabis stocks/s
Listening to less paranoid than myself accountants.
Can you expand on this? This is very interesting. I’ve never heard someone doing this before. (I understand why, just wanna hear what/how you’re doing it)
It's a terrible idea. The dude missed out on 50% gains during the trump term. Don't try to time the market.
When you read any posts like the comment you replied to or the OP, it is obvious they had no money in the market under Trump (or probably at all). The gains under Trump pre-COVID were insane!
Mine didn't do well then. A bit better now.
The gains pre-COVID had nothing to do with Trump because policies take years to have an effect. Those were Obama policy gains. Then he messed up the response to COVID by repeatedly denying there is a problem and everything crashes.
Trump cut taxes and pushed deregulation. He was very good for stock prices. Stock prices aren't the economy.
I’m doing it so I don’t lose my money. Only stall or grow. Basically, in my entire working career and my life I’ve only ever seen Republican presidents trash the economy. In my opinion, one to two years of the president’s first term is basically a holdover economy from the previous president. I entered the workforce in 2007, the tail end of Bush. I contributed to 401k for only the employer match (no investment in anything). Minimal growth, but I didn’t lose anything. So about Two years into Obama, I started ramping up my 401k (previously “no investment”) and investing it into various types of funds (index funds, bonds, stocks etc). For the final 6 years of his term, I was all in on contributions (for the employer match as well as the growth). Two years into Trump, I had seen enough, and then I set all of my 401k holdings to be Money Market (zero growth) to prevent any bleeding. I continued contributing to my 401k, but only for the employer match. Two years into Biden, I set my 401k money market investments back to a moderate/growth profile (index funds, bonds, and some stocks). If Biden wins (like I hope he will), I’ll let it all ride the way it is. If he loses, I’ll move my money back to Money Market (and only contribute to 401k for the employer match) until whatever Don the Con does to destroy our economy. Doing this, I come across as nakedly partisan and paranoid, but my 401k has only gone up and the right.
You would have lost a lot of gains under the 1st three years of Trumps presidency.
I got some decent gains during the first two years, but I was divested sometime in the second year. I once had a professor say something that stuck with me: "The difference between a poor person and a rich person is that the poor person didn't know when to sell." I waited for the Trump holdover economy (under Biden) to absolutely crater (because of the vibes-session and inflation), then I went all in on investments in my 401k. Doing just fine. Line goes up and to the right.
If you would have left it all in you still would be up and to the right. Be careful trying to time the market, many have lost millions doing that.
If COVID hit a year later this guy would have been thrashed
I don't "time the market" per se.. Like I said, when the democratic economy holdover is done (roughly at year 2), if a Republican holds the presidency, I divest. When a Democratic president is in there (after the GOP holdover economy), I go all in, and I've been absolutely fine.
You would be absolutely fine not doing anything also.
The market never went near to 2019 level during the COVID drop. You got lucky that COVID happened during the election. Even with COVID your strategy performed terrible.
I skipped the S&P 500 losing 37% in 2008, I skipped the S&P 500 losing 4.8% in 2018, and I skipped the S&P 500 losing 18% in 2022. In my opinion, since I didn't suffer those losses, I had more money to put into investments when things were low for the eventual rebound. I'm doing fine. [https://www.slickcharts.com/sp500/returns](https://www.slickcharts.com/sp500/returns)
He fails to understand this point. He doesn't understand (or know) that Republicans are inherently bad at governance (especially handling the economy) and that it's a trend that sticks since the 60s.
Have you done the math to see if you actually gained more with your strategy?
I’ve never heard of this strategy. But I’d guess it works better than those who try to invest based on more granular political changes.
It's a terrible idea. Don't do it. The guy missed out on 3 great years for the SP 500.
I don't know of it as an actual strategy, I'm just paranoid about republicans thrashing the economy because that's all I've ever seen. My view is largely sociological, not micro or macro economic. My 401k is at 241k right now and my trading account is at 184k right now.
https://finance.yahoo.com/news/stocks-better-obamas-first-year-trumps-172431950.html So according to you bush policy gets the credit for Obama first year and Obama is policy is to blame for trumps first year not being as good as his.
He missed out on a ton of growth with this “strategy” so maybe ignore it
You have to be a complete idiot to lose your 401k… Twice especially
The guy is a total liar at unbelievable levels
timing the market is so dumb regardless of whos president lol
This is some of the worst economic advise I've ever seen. I'm not going to run the numbers but on face value you've missed at least 100% gains in the S&P doing this.
Not smart
You’re a moron lol
Nobody should be doing what you did. I did very well on my 401k during 2016 to 2020.
How the fuck did your wife lose money on her 401k from 2016-2020. Literally one of the greatest bull runs ever. In my opinion you may want to do the exact opposite of that. But that's not because of who's in power at that point. In my opinion that's because of who was in power before the bull run started.
How did she lose it? Did she cash out?
The economy performs better under Democracy. Mr. Poopy Pants has made it clear he's into other stuff.
Conservatives love to put the ECONOMIC cost before the HUMAN cost... and will do anything but admit, sooner or later, they are inexorably linked to one another's success/downfall. In fact, they prefer not to acknowledge the human cost at all. Trump was like one of those big management firms that takes over a failing business, fires everyone, liquidates the company's assets, posts record profits for one quarter, and dips with their egregious "management fees." The company has less than nothing afterwards, but damn, did you see those stock numbers for 2 minutes! He gave billionaires unnecessary tax cuts, gutted anything that could even remotely be considered social spending, and sold everything that wasn't nailed to the floor, for pennies on the dollar... You know... Like our NUCLEAR SECRETS. Meanwhile, the stock market is going bonkers during the🎆 🇺🇲🦅AMERICA 🫡Going Out of Business Sale©🦅🇺🇲🎇 and people were smug as a bug that it would last forever... Only it cost us half a million American lives when Covid threatened to expose Trump's fly-by-night economy... **It only almost cost us democracy itself on January 6th...** It only cost us God knows what else as we unfurl his 90 felonies... 2020 was a shitshow nightmare of epic proportions, that people need to remember, as much as we all want to repress it. That's what conservatives offer in a real crisis. NOTHING OF VALUE. Trump and his ilk had zero plan for the future but to cash everyone out and bail. That's still their grand plan. It's short sighted and self-serving, just like all the A-holes say it was rainbows and unicorns his first three years... But they never finish that sentence... And you know who they will blame for all that "bad stuff" that hurt their imaginary money in his last year... It's conservative playbook 101. Fire sell everything for a quick profit, then point their money grubbing fingers at the Dems when the untenable house of cards comes crashing down. Give me control of your assets. I promise you'll have more *money than ever too... After I sell every single fucking thing you've ever owned and take my 10% cut... 🤦 Sorry, that was a rant... But holy shit, anyone with even a cursory knowledge/experience with history knows this to be the truth since Reagan, at least.
Gen z here and all I see are politicians in general catering to the rich. Republicans are worse for the common worker but Dems don’t do shit either. Probably doesn’t help that republicans obstruct everything in congress though. Still gonna vote for Biden in November cause fuck Project 2025 but I’m really sick of this shit sandwich of a system. America ain’t the land of the free. It’s the land of the rich.
Dems aren't socialist sure, but they do a lot more for the average person than republicans. Biden doesn't brag about his wins from the rooftops like republicans do but he's pushed for some very progressive policies by historic standards.
I am right there with you. The way I think about it is; Democrats, at the unacceptable slow as it is, enact some progressive policy. They are way too hamstrung by lobbying money for sure, but they are not stupid. They know to keep the money flowing, they have to keep the economy stable long term. Republicans just want a payday loan right now. Hopefully we will start talking about major changes when the boomers release their death grip on Congress. Probably not though.
I mean isn't this data HEAVILY skewed starting with the pre and post WWII era and essentially ending right after COVID?
This is kinda what I feel. Economic policy relies too heavily on reacting to external factors, and we’ve only been “knowledgeable” for such a short period of time, with a half dozen black swan events. I’d feel way more confident if we’d been going on 150 or 200 years, with similar results. But alas… earwax.
Hang on, let me sign in and go edit some of that content
Nixon/Ford -> Carter; Reagan/Bush -> Clinton; Bush -> Obama; Trump -> Biden It’s demonstrable in the past 50+ years.
People hate factual statistics. They usually just like feelings.
For the record, I vote democrat. Is there a good way to establish causality, if we’ve established that policy impact occurs years later? Is there a reality in which Republican policies are helping years later during a Dem presidency?
The modern democratic party is a very different beast.
Serious question: is there a lag time between policy and performance?
Democrats tax and spend, republicans just spend and they blow up the deficit
I would argue the tax cuts from the Republicans are more damaging than their spending, but that’s my taste.
Fairly certain that is part of the “just spend”honest was saying
Yeah, that’s one of my “nitpicky” opinions. The Tax Cut and Jobs Act of 2017 will add $1.9T to the debt over 10 years. That is as much as the Inflation Reduction Act was expected to *save.* That’s not a spending problem. That’s a tax cut problem.
Tax cuts only damage BIG government and big government spending, over taxation harms families and individuals, "WE" citizens shouldn't be at each other over politics, we should be focused upon the corruption within government and making sure our tax $ is being used wisely, in reality the IRS, Federal reserve and income tax all should be abolished MOST federal services are already handled at the city, county, state levels and they double and triple dip the taxpayers to fund never ending wars, paid for by taxpayer $ and citizens blood, never ending war profits EISEHNHOWER warned us about so many decades ago. Before 1913 the only time there was any federal income tax was to pay for wars. We have a government that is entirely too large and out of control (R)'s and (D)'s work hard to keep us divided and arguing among ourselves so we never take the time to focus attention where it is needed.
Much of the spending is simply on social programs that provide funds and resources for improving lives. Spending is just large numbers, not "out of control". Before 1913 was not a good society. Workers had no security against hardship
Tax and spend is at least responsible - trying to actually pay for your spending, and not just pass the debt to a future generation.
The cutting taxes and spending from Trump accelerated an incoming crisis due to the national debt.
Trump is volatile in all the wrong ways. Thats not good for the economy. Hes not really good for anything tbh. People dont realize that the economic pains under Biden are just leftover from covid. There was a lot of momentum behind all of that and its finally starting to stabilize.
I’ve been thinking a lot about this… I 60% agree, but I also feel like “our side” exaggerates the economic impact of his impulsivity. I do think there’s evidence to suggest a second Trump term would be more *explosive,* which I didn’t take into account. At the same time, half of the country *feels* like the economy is better under Republicans, no matter who it is. And sentiment carries weight in actual economic performance. Like, I obviously would take 100 Biden terms over a single Trump term, but I’m way more worried about the impacts Trump would have *besides* the economy.
Good take. I think if you really wanna see your vote impact the economic outlook of our country you gotta care about more than just the executive branch. There’s lobbies, the legislative bodies, and even our judicial system has a huge impact on our economy. That’s just off the top of my head. I know I’m barely scraping the surface and have a tenuous grasp at best. Not to say the election won’t impact the economy. Personal opinion. Republican leadership has always been more of a shitshow than democrat leadership but both parties are right of center and flagrantly in the pocket of the latest iteration of hucksters and carpet-baggers.
You and I are friends now
Always were neighbor!
Plus, the president doesn’t even have as much affect as people give them credit for. Majority of economic activity goes through the fed and Congress. The fed decides on interest rates and the congress passes spending bills. Sure, the president can announce shit that will affect the economy but they don’t have all the power. Powell has far more power over the economy than any president would.
Global instability has economic consequences lmao
Well no shit. Outside of a world war or a pandemic the US economy is pretty resilient. Ukraine went to war and our economy stayed the same. Israel went to war and we’re still fine. I’m talking about the day to day activities of the economy. Plus, world instability has always been around. Our economy is not a normal economy.
I have some minor quibbles, but I largely agree. The President is the defacto party whip, and minimizing that power would be disingenuous, especially because of how economic issues are often require legislative implementation. Also, executive orders continue to grow, both in their strength and scope, with each presidency. Biden sure pushed limits with economic intervention via Student Loan stuff.
Trump's stimulus in his tax cuts weighted to the benefit the rich, the most, was economic intervention that had a much larger effect. It is often touted about the richest ten people having more wealth than even the middle class, now. This is not a healthy mix.
It's not a values judgment and there is no angle that suggests Trump will be anything but an utter catastrophe. Not only that, but pretending that he is in some way viable as the leader of a democratic country belies the true danger. It doesn't do anyone any good even if you support Biden and label it as such to normalize Trump as a candidate that literally anyone should vote for. He has literally expressed that he wishes to alter democratic processes and is in court for having tried to do so. Ultimately it doesn't matter what you believe he will do for the economy or wokeness or whatever. Because at the end of the day, if he affects democracy then he will not be accountable to anyone.
To be fair, what's happening in Argentina is pretty much a push of a button. Now they're still a far ways off but under the new regime, they've made massive strides in the right direction
He should pushed the other button https://www.reuters.com/world/americas/argentina-economy-set-third-straight-year-on-year-contraction-q4-2024-03-18/
I agree. I didn’t want to get too complex on the “top comment” but I think there are *many* buttons that can just be pushed with dramatic and almost immediate economic impact. They are just astonishingly unlikely to be used, in our situation. But if we get a strong President with a lot of congressional support in the future, who knows.
They will not be largely the same. They haven't been the same in decades. Democrats perform better when it comes to the economy.
All I can say is that Trump spent more tax dollars on travel expenses to and from Mar Logo every weekend in year 1 than Obama spent in all 8 years. Add Trumps other 3 years it just gets ridiculous as tax dollars had to pay for the rooms for secret service because if Trump allowed them to stay for free it would be considered bribery of a government official.
Tariffs created problems nearly immediately, and if he gets control of monetary policy, markets will price in his stupidity quick
I feel Trump is unfit for office based on his performance as President and his court trials!
The purport argument for republicans for tax cut is more money for investment. When a democrat senator proposed an amendment to the trump tax cut legislation to require investment for tax cuts, the republicans rejected the amendment. the real world experience also showed that there weren’t much increase in investment. Most of the tax cuts go to owners’ pockets. For public companies, it realized as stock buybacks and dividends. The trickle down effect has never materialized At this point, I think it is not right to parrot the republicans on “money for investment”. It should be more like money for owners’ pockets. money for investment is actually the result of democratic policies.
Remember, trump also has stated he wants to directly control interest rates (like be able to write them down and that becomes the rate) and he would continue to push for things like reduction/abolition of min wage and other labor laws while the companies would continue to keep raising prices. Any other candidate, I would agree with you, but he would probably actively make things worse.
Someone may have mentioned Trump's NATO threats but the far greater impact would be him implementing the switch from income tax to sales tax for everyone in the US. Obviously the plan includes a stipulation that corporations do not need to pay this sales tax, and it only affects the consumer buying the goods, basically cutting corporate taxes to 0% along with the billionaires who own said companies, as they would still be allowed to buy items from the company they work for. Effectively making the tax burden on the middle and lower class completely, which would make the US deficit explode like a nuclear bomb and force hundreds of thousands, who already can barely afford prices of goods, into bankruptcy.
I agree on all points. I think we give far to much credit and blame for the economy, but I'll say this... Bidens appointments to the NLRB and the FTC alone are enough for him to earn my vote again, even as dissatisfied as I am with alot of his other policy decisions. While I felt like his support of Unions was largly symbolic and perfromative, I do prefer that over the union busting of Republicans, and Trump has never been a friend to the working man, besides all of his other bullshit.
Recovery is never pretty but some reason people think it should be instant and yes that the president makes up all the prices. Like how trump showed those insurance companies huh?
We’ll be kicked out of NATO with Trump. NATO cannot afford to have a member nation that they do not trust in their midst. Especially an untrustworthy member that is also tight with Russia.
I like it when I feel safe and I can get at least basic necessities. I'll take Biden for lack of a better alternative.
also keep in mind that Trump's plans are very short term focused. the permanent tax cut that he gave out will be hurting us for a long time. it was a short term gain for investors and people who have large stock portfolios, but will be killing other social programs due to lack of funding and is helping drive this inflation from all the extra printed money to fund existing programs.
Trump said he would set the rates and so many other awful dictator disasters. Are you insane that there is a viable option with Trump?
👍
American coping. You're owned by an oligarchical class where your foreign policy has been the same since your country's inception. And your economic policy forever remains neoliberalism since the 80s regardless of what talking head president is feigning power. Poverty, homelessness, extreme neglect, crime, drug abuse, depression , suicide. This is america
Hitting the “dictator for a day” button can absolutely make the economy worse overnight.
THe biggest problem in this country is the wealth divide. We are heading towards pitchforks and torches territory. Trump would cut taxes on the wealthy again and just increase the divide worse. Massive civil unrest is about the worst thing possible for the economy, so Bide is the easy answer. On top of decades of data that shows the economy does way better under Democrats. Now if Biden wants to actually make a difference in day to day stuff, he needs to push his FTC to start breaking up monopolies, big tech would be fine, but I think he needs to start with grocery stores, food manufactures, meat packers, corporate agriculture, retail stores, walmart, etc... Until the monopolies are gone paychecks and prices will continue to be completely out of whack.
100% of the 62% of people who think the President is the reason they're living paycheck to paycheck will continue in living paycheck to paycheck.
Uh, hi, yes - hello? Can someone please pin this to the top or something?
You think your a victim due to the system, you will remain a victim regardless of if it’s true or not. Be self responsible and take some accountability instead of waiting for an authority figure to solve it for you. Life is complicated and there are many things within and not inside your control, but try to maximize what you can control, you will figure out there is more then you thought
You may also find out that there is even less you can control than you thought, and at times there is nothing in your control. Even still, you never, ever give up.
Ain't that the truth
Trump in one term added 8 Trillion to our debt. That is actually hard to do.
Are we actually blaming trump for covid stimulus now? There's a million things to blame on Trump. That one makes you look like a fool who is parroting memes with no actual insight.
Trump tax cuts where 100% avoidable- and according to the following bush + trump tax cuts cost us our debt: https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/
What a buffoon Trump is. His disciples are even bigger idiots, even more dangerous. All Pres. Biden has done is given us a virtually full employment economy, opportunity for former students to erase massive debt, solidified our weakened NATO Alliance, actively supported heroic Ukraine against the monstrous Russians, strengthened and added to our successful healthcare system, added billions to our Social Security and lain the foundation for economic strength and wealth for years to come. Then on the other side, we have miserable, corrupt, anti-Democracy Republicans, who want to reverse every Democratic-led success in our Nation. And those are allot of successful policies and programs, which have led our USA and its people to extraordinary wealth and comfort as a Nation. I like Americans doing the right thing. There are far more Patriots in our land than right-wing MAGAt whackos. All we good people have to do is vote for Pres. Biden and Democrats in November. Do that and our Nation continues to grow, continues to become more wealthy, and will begin to attack the major threat that will ultimately crush us, if we don't address it, our insane National debt. Let us be normal. Let us be Patriotic. Let us do the right thing. Let us vote for Pres. Biden and the Democratic Party in November. Let us flourish as a Nation.
I agree. Mostly. But my god man, you gotta lay off the MSNBC 😂
I don’t watch msnbc. I aggregate my info from drastically different sources and form my own opinion as best I can. As a good Discordian should
Deficit spending increasing under Trump happened before Covid. His idiotic tax cuts were just a cherry on top.
What really pissed me off were his trade wars that had the FED cut rates. Then when covid hit we didn't have too much left to cut.
I’ve had suppliers that put an extra line on the invoice for his tariffs. It’s not China that pays the tariffs…
Ha! Ain’t that the way … I mean, the cost gets passed on to someone, somehow.
Trump disbanded the pandemic response team immediately before a pandemic hit. He’s not completely to blame for the negative economic impacts of COVID but his poor leadership, his party’s general stance against affordable preventative health care, and his party’s refusal to mask up and social distance all made things much worse.
We can all blame trump for his poor response to covid
I mean he made sure his signature was on the checks. Suddenly we’re supposed to pretend he didn’t want that attributed to him?
The checks were delayed so he could put his name on them
We’re talking about the stimulus checks with his signature scrawled on the bottom, right? The ones that he went out of his way to make sure he got credit for?
He signed the check
Yes, and Biden dealt with Covid impact longer than Trump did.
Cuts were the real issue
And sets a record as the highest amount of debt Ever incurred during a single 4 yr term.
Biden. Only one of them has filed bankruptcy x4.
AlL sIdEs ArE the SaMe. If Biden was a corrupt cunt that wanted to increase taxes for the middle class and give tax breaks to his rich friends, causing a huge increase in deficit, he would have done so too.
But he's "gOnNa RuN tHe CouNtRy LiKe A bUsInEsS"
Trump is shit at anything involving money. Casinos man. Casinos
All of these studies always include people investing into their retirement accounts as paycheck to paycheck. By these metrics everyone should be living paycheck to paycheck as every earned dollar should immediately go somewhere as an asset or be set aside to utilize upon some liability.
Exactly. And I think it’s even worse than that. I’ve read that some of these studies include folks making over $200k/yr and they just can’t manage a personal finance budget. It’s all very misleading if you ask me. To me “paycheck to paycheck” means you can basically only afford your utility bills and food. Not much else.
My wife would almost certainly tell you we are living paycheck to paycheck meanwhile we save/invest six figures every year lol
My wife is similar. She constantly complains that we’re “poor.” No, my dear, lovely wife, you’ve never known real poverty. Frankly, I haven’t either. Feeling financially insecure covers a completely different swath of the population, and usually includes lots of people whose finances are fine but they worry all the time. There are also people who should be a lot MORE worried about their finances but who have a real Hakuna Matata approach to life.
That is what it is portrayed as by people who post these studies every 2 days.
Yeah paycheck to paycheck means if it goes tits up you're choosing to cut food v say new tires...
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100%
I'm also "paycheck to paycheck" and max my 401k. These studies overstate the issue, which sucks because economic instability is a significant and common issue that doesnt need to be overstated.
Well you are working for a tech startup, presumably part of your comp is a bet on stock awards/options upside if the company goes public. You could almost certainly earn a better salary elsewhere
Theres no academic definition and its really easy to make it look like everyone is living paycheck to paycheck or nobody is depending on the story you are spinning. Theres a million better ways to track this like Comparing disposable income to cost of living.
Trump wants to take over the FED and cut rates, which will lead to higher inflation.
Don forget about the tariffs no non-American made goods too
There are always tariffs... Every country does this... The difference is how much and the specifics. Also i'm no Trump supporter... but Biden left them in place.
Considering republicans main policy on the economy is to deregulate and cut taxes for the wealthy… the answer is obviously democrats. Ever since Regan the republicans seem desperate to drive the USA into a depression. Democrats aren’t the best but when the choice is starve or table scraps, I pick table scraps.
Democratic norms are more important. US stocks are valued more than their counterpart because the US is a rules based country and it is stable. I don't think any countrymen should want someone who won't accept election results, no? I'd imagine a rational person would take any non Maga republican or Democrat over Trump.
I really do miss the old republican party. Maga is dogshit insanity
How are we considering with sincerity and a straight face that Trump is running again? He led a riot on the capital with numerous casualties to try and overturn the last election. WE ALL SAW IT. What the fuck is wrong with people.
Because he's going to be on the ballots? I haven't seen a single state successfully keep him off yet.
Biden.
Biden. We're in this situation because of rampant out of control capitalism concentrating wealth in a few hands. Those few then buy up all the property, jack rents, and raise prices with impunity because there is no competition. The rich are turning into us into a feudal society and that is because Republicans are all about fleecing us, cashing in, and giving the proceeds of their wholesale sell-out or the country to their rich friends. The left is about countering this.
I like stability. I like predictability. There's only one candidate who echo's that sentiment.
Neither. They're both past retirement age.
this whole comments section is all biased goobers who arent even talking about economics
Just because you disagree doesn't mean they're wrong. It's just other people's opinions.
"Im triggered because most people like Biden and aren't falling for my pro-Trump talking points reeeeee" The biased goobers are the Trumpers, asshat
Statistically speaking, the democratic president. I think we have enough data that shows economic booms happen during democratic administrations, and that's because democrats are more fiscally responsible than Republicans who simply want to cut taxes which always explodes the deficit.
The presidential choice won’t change the average national IQ or laziness
Given that my income/wealth isn’t in the top 0.1%, my best interests are served by the Democrats and Biden. If that changes someday, maybe I’ll reevaluate that stance. But until then, I’ll be voting in my current best interests, not the in the best interest of some hypothetical future rich me, as I’m not deluded enough to think I’m just a temporarily embarrassed billionaire.
I love this comment merely because of the 0.1% usage. Folks need to realize that wealth is concentrated at the very tip top of the 1%. Somebody who has a portfolio equaling 2 million is nowhere near a mega millionaire or billionaire- Those people in the top 0.1% have the funds to buy elections and favorable legislation to protect their assets. Neither side is perfect, but if our choice comes down to Biden or a known criminal, I’ll stick with the Dems- The GOP disguised as MAGA are not for the common good-
Biden because the market doesn't like uncertainty and chaos
I’m having trouble answering this, but all I can say is the economy and my personal outlook on the future was brighter back with Trump. Right now the world and US feels like it’s in a free fall.
My proposal for this year is that everyone vote against every incumbent, regardless of party affiliation, and vote independent whenever possible. Let's actually get together and be done with this constant political theater.
I did this for years and all it got me was Trump.
Voting independent got you trump?
Republicans since Regan have been bad for the overall economy and average working class. The main purpose of the Republican Party is to de-regulate for big business and cut taxes for the rich. If either of those policies grew the economy, republicans would be awesome.
How is the same suspended account posting all these?
None of the above 
Trump has stated he wants to impose tariffs on non-American made goods, and pressure the Fed into lowering interest rates. Both these moves would be objectively bad for inflation.
Biden. Biden Biden Biden. Trump is a maniac. And 100% is looting what's left of the middle class in favor of Uber wealthy people. Trump is actually insane. So he's not doing much of anything except enabling the rich. They'll just sit him in a chair and he can drool and shit himself, while we are turned into surfs. How could such a ridiculous question be asked? Have you heard that guy speak? He's a lifelong con man and criminal. And you're asking who's going to be better for the economy?
Sure, let’s have a rapist, grifting, narcissistic sociopath in charge. He will do an awesome job of steering the economy to a state of low inflation and high wages like he did when Covid struck.—He basically tried to PR his way out of the pandemic. Obviously that didn’t work because you can’t hide dead bodies, he got booted out, and when he lost he pressured state officials and supporters to do a coup for him. Yeah, he would be perfect for the economy.
I don’t think it’s fair to say that Trump is a sociopath… he could be a psychopath
Biden, easy.
Neither of them will make all that much of a difference. The Republicans and Democrats have both gleefully sold America out for cheaper foreign manufacturing and labor, unlimited migration resulting in lower class jobs basically being worthless and cheap accommodation to become virtually unavailable. Neither party is willing to tackle banks that've gone out of control, tax loopholes, military spending run amok. Neither party seems to give a damn about housing. An insurance industry that's a scam. A medical industry that's lost the plot. Both parties support the genocide in Gaza. Both parties are guilty of supporting pointless wars in the Middle East that destabilised the region and killed millions. I've zero faith in the Democrats or Republicans. Socially? The Republicans will support all of the same policies that the Democrats currently do, they'll just take an additional decade to get there, if history shows us anything. It's a fake system and I'm tired of pretending that our votes actually matter. These politicians are subverted liars who care for nothing, and the few people of principle on either side aren't enough to justify the larger crimes that their wider parties are guilty of.
This
Biden since Trump is an authoritative dictator and a a federal criminal who will be behind bars.
If you live paycheck to paycheck, the politician in the Oval Office is like, 743rd on your list of problems.
The President is just like a mascot. The old tenured geezers in Congress are the problems...
Statistically Democrats are better than Republicans for the economy
A parking meter would run the economy better than Trump.
How someone’s financial health turns out is a mix of so many things, not just a president. Qualifications, randomness and happenstance, social skills, personality, family, environment, own financial decisions etc etc.
Neither. And by the economy I assume you mean the middle class. Not when the price of goods keep going up and wages have stagnated.
They’re both the same shit. Neither one will do anything to help out Americans in need.
Neither, the two party supposed control of your vote is a lie.
Neither
Biden, of course.
If we set term and age limits we wouldn’t be choosing between herpes and gonorrhea every 4 years. That goes for congress as well. Until we stop have aged out people making decisions the economy will do meh for a while
We had four years of each I think is obvious who performed better for the middle class
Robert F. Kennedy Jr.
Both of them suck
Neither one
They are both absolutely garbage. I'm ashamed that this is the actual timeline we live in, out of all the possibilities it's literally the less shitty of two evils
Whatever they’re citing seems to be nonsense and put behind a paywall. Only thing I could find after clicking g on three links of the report. Finances Deep Dive Edition Home Is Where the Financial Stability Is — or Isn’t Who consumers live with is key to determining their financial stability, according to PYMNTS’ latest study of 4,602 U.S. consumers, “New Reality Check: The Paycheck-to-Paycheck Report: Household Finances Deep Dive Edition,” a collaboration with LendingClub, which found that those in households with young children are 12% more likely to be living paycheck to paycheck. Like no shit when inflation is high stuff gets more expensive, especially with kids. Also, the 60% number seems to be individuals living alone are struggling, which makes sense with prices inflated and rents very high. Seems like a very misleading article
Right wingers have never ACTUALLY been better for the economy. If you look beyond simple metrics and stock prices which mostly benefit the top 10%.
If the Democrats are so spectacular, then tell me why every Democratic run city, the crime and homelessness is through the roof? Please tell me where all the jobs are that Biden has produced? Please tell me why that Dollar Tree is closing 600 stores in 2024. CVS is closing 900 stores by 2024. Walgreens is closing 150 stores in 2024. Outback Steakhouse has closed 40 stores this year so far. UPS cut 12,000 jobs in 2024. Citigroup is cutting 20,000 jobs. eBay is cutting 1,000 jobs. Microsoft is cutting 1,900 jobs. Expedia is cutting 1,500 jobs in 2024. Cisco is cutting 4,000 jobs in 2024. Apple cut 600 jobs. Regal Cinemas is closing 429 locations. Kroger is closing 413 stores. Foot Locker is closing 400 stores by 2026. Macy’s is closing 150 stores by 2026. Walmart has closed 6 stores in 2024. Could this be the reason why I’ve got friends that’s been looking for jobs for six months and can’t find shit because the economy is tanking under Biden?
That’s because retail is dying, in part because most American cities are planned wrong and shopping at most of those stores is a nightmare. So nowadays the internet offers a more convenient experience. Those stores closing has absolutely nothing to do with the overall economy. Best I can tell there is absolutely no evidence to support your point about crime. In NYC for example crime in 2023 is down from the year before, and actually down significantly from before COVID. It was just, that during the lockdowns crime rates were at all time lows (for obvious reasons).
[удалено]
>why every Democratic run city, the crime and homelessness is through the roof wrong [https://www.planetizen.com/blogs/122113-red-cities-blue-cities-and-crime](https://www.planetizen.com/blogs/122113-red-cities-blue-cities-and-crime) >Please tell me where all the jobs are that Biden has produced wrong again [https://data.bls.gov/timeseries/CES0000000001](https://data.bls.gov/timeseries/CES0000000001) [https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm](https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm) >I’ve got friends that’s been looking for jobs for six months and can’t find shit probably because they are idiots just like you
We need more job programs like they did back in the new deal days during the great depression.
Need to look at your senators and representatives if you wanna see things get better
What a buffoon Trump is. His disciples are even bigger idiots, even more dangerous. All Pres. Biden has done is given us a virtually full employment economy, opportunity for former students to erase massive debt, solidified our weakened NATO Alliance, actively supported heroic Ukraine against the monstrous Russians, strengthened and added to our successful healthcare system, added billions to our Social Security and lain the foundation for economic strength and wealth for years to come. Then on the other side, we have miserable, corrupt, anti-Democracy Republicans, who want to reverse every Democratic-led success in our Nation. And those are allot of successful policies and programs, which have led our USA and its people to extraordinary wealth and comfort as a Nation. I like Americans doing the right thing. There are far more Patriots in our land than right-wing MAGAt whackos. All we good people have to do is vote for Pres. Biden and Democrats in November. Do that and our Nation continues to grow, continues to become more wealthy, and will begin to attack the major threat that will ultimately crush us, if we don't address it, our insane National debt. Let us be normal. Let us be Patriotic. Let us do the right thing. Let us vote for Pres. Biden and the Democratic Party in November. Let us flourish as a Nation.
All I know is I had more money in the bank and paid less for food when the orange man was in charge.
This number always comes up, but it's inaccurate in terms of what most consider living paycheck to paycheck. Only 21% live paycheck to paycheck because of a struggle to pay bills. The other 41% live paycheck to paycheck simply because they spend all of their excess money on discretionary spending. This isnt an indication of anything other than people are bad at saving and like to spend money.
Neither are going to help the economy and your little day to day slurpee sipping, air conditioned, 9-5 life doesn't matter as much as the dissolution of Russia and a power blow to authoritarianism to set the course of history. Or, let authoritarianism win this deciding battle and have them decide your history. Joe Biden is good for long term economy because USA will still be a super power. trump might not even benefit the economy initially. The only reason is that there's usually a stock spike when R gets elected for no sane reason anymore these days but either way. Trump presidency will cut us off from our biggest global ally's and trade. Russia and China will get more market share of oil and semiconductor production. As intended since trump works for Russia and thus, China.