Thread: American Politics
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05-12-23 03:52 #12308
Posts: 5454Crickets?
Republicans Finally Admit They Have No Incriminating Evidence on Joe Biden.
A 65-page report, a press conference, and nothing to show for it.
May 11, 2023
https://newrepublic.com/post/172627/...ence-joe-biden
Republicans big investigation into the Biden family has revealed not a lot.
The House GOP accused Joe Biden and his family on Wednesday of engaging in business with foreign entitiesbut were unable to provide any actual evidence linking the president to any wrongdoing.
House Oversight Committee Chair James Comer released a 65-page memo detailing a sprawling investigation into Biden and some of his relatives, particularly his son Hunter Biden. Nowhere in the massive document was there a specific allegation of a crime committed by Biden or any of his relatives.
During a press conference explaining the investigation, Comer was asked if he had evidence directly linking Biden to corruption. The Kentucky Republican hemmed and hawed but ultimately admitted he didnt.
The memo accuses the Biden family of involvement in a scheme to peddle influence in Romania from 2015 to 2017, as well as financial dealings with individuals in China. Hunter Bidens name comes up repeatedly. But the memo contains scant details of all of these alleged dealings, nor does it contain any evidence that any laws were broken or that Biden was involved in his sons Chinese business.
And, never fear, pro Repub Mainstream Media will be right there for them every step of the way to suggest there might still be kinda sorta maybe something kinda sorta maybe there for America to consider in their vote instead of, you know, the irrefutable historic data and record of results showing their beloved Repubs to be absolutely atrocious at handling the USA economy, national security, protecting and defending the Constitution and American democracy.
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05-12-23 03:33 #12307
Posts: 406Reparations
Originally Posted by JustTK [View Original Post]
You can't understand but it's a real sore spot with me. Unless you have lived in a neighborhood or city that changed racially you can't relate. No personal attack on you.
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05-12-23 03:18 #12306
Posts: 5454Oh, is that all?
Originally Posted by Tiny12 [View Original Post]
How about we demonstrate to the world that we are not all Deadbeat Repubs here who can't be trusted to pay the bills Trump and Deadbeat Repubs racked up to the tune of 25% of all the debt the USA had racked up since the beginning without any bullshit hostage-taking and still damaging brinkmanship that might again result in Deadbeat Repubs lowering our credit rating?
You know, the way Deadbeat Repubs did at least 3 times under Trump when he and they added $Trillions to the debt / deficit with practically nothing of value to show for it even before Trump laid the groundwork for, created and developed Trump's Pandemic.
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05-12-23 01:34 #12305
Posts: 1784Capitalism and closed borders
Fascinating idea put forward here. I am not sure I have ever heard it myself. Its about how capitalism (remember, the freedom ideology) requires closed borders in order to function well.
https://www.youtube.com/watch?v=kXrWtRZofmE&t=823s
Watch it until 20 min mark. You can apply this to USA too, although its a UK news show.
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05-11-23 22:02 #12304
Posts: 1784Originally Posted by ChuchoLoco [View Original Post]
I am not familiar with your fmily story nor what a WASP is. So I am not position to comment on that. BUt what makes you say "Reparations have no benefit except to those who do nothing to deserve another handout. " IS there a historical record to support your claim?
Let's say I qualify for a payment. I use the money to start a small business that provide for me and my family. This means that I would not qualify for or deserve another benefit, yet the reparation have provided benefit. So surely this is an example which contradicts your statement?
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05-11-23 19:18 #12303
Posts: 1807Originally Posted by EihTooms [View Original Post]
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05-11-23 19:14 #12302
Posts: 1807Originally Posted by EihTooms [View Original Post]
That's a great recipe for inflation, and that's what happened. At the end of February, 2021, YoY inflation was running 1.7%. The ARP checks again went out in March of 2021. April inflation was 4.2%, and May was 5.0%. Inflation in Europe for the same two months was 1.6% and 2% respectively.
So, again, Biden et al's 1.9 trillion stimulus represented about 9% of GDP, pumped into the economy at the worst possible time.
How much extra money was left in the hands of the people and businesses as a result of the TCJA during the year after the ARP was passed? Well, based on earlier estimates, about 160 billion, or about 0.8% of GDP. It might have been a lot less. Government revenues were 17.4% of GDP in the year ended September 30,2021, and 19.2% of GDP in the year ended September 30,2022. Those numbers are above the long term average (1970 to 2019) of 17%. So maybe the "stimulus" provided by the TCJA in the year after the ARP was passed was considerably less than 0 8%.
But yeah, if it makes you feel secure in the superiority of Democratic Politicians, and you some how identify with that, go on believing that it was the TCJA that kicked off inflation.
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05-11-23 04:52 #12301
Posts: 5454Top Iconic Repub Leader Urges Another Great Repub Recession + Massive Job Loss ASAP!
Trump doesn't want his Repub Party and the country to wait until his Fed Chairman appointee gets around to blundering us into another Great Repub Recession / Depression and Massive Jobs Destruction. No, he wants his Repub Party to produce another one by June 1 if not sooner!
Trump urges GOP to let U.S. default on debt if Dems don't accept spending cuts
https://www.cnbc.com/2023/05/11/trum...ndroidappshare
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05-11-23 00:13 #12300
Posts: 1807Originally Posted by EihTooms [View Original Post]
A slowdown in bank lending and problems with commercial real estate loans may be contributing factors as well. I would credit Yellen, Gruenberg and Powell for doing what they could to prevent deposit runs and bank failures this year. And say they could have done more if not for political opposition to "bailing out" uninsured depositors. And that political opposition is coming more from the Republican side of the aisle.
I'm going to take the word of the Fed economist over your trend following expertise. And he says 1. 5 million jobs were added by the TCJA, just in 2018.
If you assume those 1. 5 million people would be unemployed if not for the TCJA, then, given that the total labor force is around 155 million, unemployment is around one percentage point lower than it would be otherwise. That would mean the unemployment rate without the TCJA would be 4. 5%, not counting jobs created after 2018 that wouldn't be there without the TCJA.
I am not as you say crediting the TCJA with the rebound after pandemic. The TCJA only cut federal government revenues by 0.8% of GDP. If I were dictator, I'd cut federal government revenues by more. And federal spending by a whole lot more. Over a period of years.
And the pandemic crash would have occurred no matter who was president.
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05-10-23 21:54 #12299
Posts: 5454Woah, hold on there!
Originally Posted by Tiny12 [View Original Post]
See attached BLS line chart covering 2007 to 2018 below and please explain how the TCJA got the unemployment rate to "essentially at the same" level it is today, below 4%:
https://data.bls.gov/timeseries/LNS14000000
Also, so now you are saying the inevitable but transitory Trump's Pandemic Crash rebound-related inflation was the fault of Trump and his Repubs for passing the TCJA, which you are now crediting with that rebound? I thought it was evil Joe Biden and his evil Dems who caused that inflation by putting too much money into Americans' pockets and all that. Which flies in the face of what happened when, according to you, Americans had more money put into their pockets by those fabulous Repub tax cuts.
Wow. Those were some miraculous Repub tax cuts; Good and Non Inflationary whenever they do whatever it is you want to give them credit for doing. Quite the opposite of how you characterize that same result with Dem policies. LOL.
Yeah, yeah, I know. I have been reading and hearing warnings from economic experts and gurus about that "Great Biden / Dem Recession, Massive Job Losses and Skyrocketing Unemployment Rate" coming any minute now for, what, 2 1/2 years now. I heard the same thing about the Great Clinton / Dem Recession and the Great Obama / Dem Recession for a full 8 years each.
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05-10-23 21:09 #12298
Posts: 406What BS!
Originally Posted by JustTK [View Original Post]
Trump is a fool in so many ways but those who want to give out reparations are bigger fools and I will jump to the other side if this becomes the norm!
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05-10-23 20:12 #12297
Posts: 1784Reparations incoming / outgoing
Interesting inititaive taken by California here:
https://edition.cnn.com/2023/05/08/u...rce/index.html
If it goes ahead, it would set a precedent for other states.
Caricom (an organisation of Caribbean nations) is also pressing Europe for reparations:
https://caricom.org/caricom-ten-poin...atory-justice/
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05-10-23 18:40 #12296
Posts: 1807Originally Posted by EihTooms [View Original Post]
On the other hand, the labor force participation rate, which declined markedly during the Obama administration, was 63.3% pre-COVID, and currently has only rebounded to 62.6%. A lot of people have stopped looking for work.
The majority of analysts are predicting a recession. When that happens, the unemployment rate will go up. Your post, above, will not age well.
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05-10-23 03:47 #12295
Posts: 5454An oversight?
Originally Posted by Tiny12 [View Original Post]
That was probably just a Bothsider / Neithersider oversight since it didn't immediately leap out of your tortured math to come up with something, anything that suggests all those Great Repub Depressions, Great Repub Recessions and Great Repub Jobs Destruction are really no different and, hey, might even be better for America than all those Great Dem Recoveries, Great Dem Economic Expansions and Great Dem Jobs Creation.
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05-09-23 18:50 #12294
Posts: 1807Originally Posted by EihTooms [View Original Post]
https://www.dallasfed.org/research/p...58%20 billion.
In 2018 alone, the first year after the provisions of the TCJA took effect, 4.2 million jobs were added, and the economist estimates that 1.5 million of those jobs were attributable to the TCJA. The economist estimates that, in 2018, the TCJA resulted in $158 billion lower federal revenues, which equates to $105,000 per job ($158 billion / 1.5 million jobs = 105,000/ job).
I do not believe it's reasonable to say each job "cost" $105,000. Rather, the the federal government left $158 billion more in the private sector during 2018 as a result of the TCJA, and one of the positive effects was the creation of 1.5 million jobs, in 2018 alone.
Originally, the CBO, JCT and others estimated the TCJA would reduce government revenues by around $1.5 trillion over 10 years. (Estimates ran from 1 trillion to 2 trillion according to your link. I'm picking the midpoint.) Again, however, government revenues as a % of GDP were the 2nd highest in 2022 since 1945. And revenues from the corporate income tax in 2022 were much higher than predicted. Thus the reduction may be less than $1.5 trillion.
And, again, the reduction in revenues from the TCJA pales by the side of the additional $5 trillion in unfunded expenditures passed into law by the Democrats in 2021 and 2022. What did we get for those expenditures? Well, inflation kicked off months earlier in 2021 in the USA compared to the rest of the world, as a result of the American Rescue Plan. Inflation in goods and services rose faster than wages, meaning workers real (inflation-adjusted) income dropped. Hundreds of billions will mindlessly be pumped into the pockets of "green energy" entrepreneurs and chip manufacturers who donated to the Democratic Party. And hundreds of billions more will be spent on infrastructure projects in the districts and states of the Congressmen and Senators who voted for the bill. Wouldn't it make more sense if the states and municipalities selected and paid for infrastructure? I can guaran-damn-tee you the money would be spent more efficiently.
Of course, in your view that doesn't matter, because all legislation passed by Democrats is gold and all legislation passed by Republicans is shit. "Democrat good, Republican bad."
My "cut list", accomplished over a period of years (many years for social security and Medicare), would reduce federal government expenditures by a whole lot more than $1.5 trillion. And Californians could still spend just as much money as they want on reparations, green energy, handouts, and everything else under the sun. The problem is that our federal Congressmen, Senators and Presidents want to run everything everywhere. They believe in concentrating as much power as possible in their hands and the hands of the federal bureaucracy. And that's just not as efficient as running and funding government at the state and local level.