Bidenomics Archives

U.S. Economic Growth Remains Solid Under Biden

November 29, 2024 Buck Banks

2.8%

Bloomberg: “Gross domestic product increased at a 2.8% annualized pace in the third quarter, the second estimate of the figures from the Bureau of Economic Analysis showed Wednesday. The economy’s primary growth engine — consumer spending — advanced 3.5%, the most this year.”

U.S. Adds Double Expected Number of Jobs in September

October 7, 2023 Buck Banks

336,000

The US economy added 336,000 nonfarm jobs in September, nearly double the 170,000 jobs economists had predicted and surpassing the upwardly revised 227,000 jobs in August, according to government data released yesterday. The latest figure is the largest monthly increase since January. Most of the jobs in September were added in leisure and hospitality (96,000), government (73,000), and healthcare (41,000). Average hourly earnings in September were up 0.2% month-over-month and 4.2% year-over-year, slightly down from estimates of 0.3% and 4.3%. The unemployment rate held steady at 3.8% from the previous month. See all data here.

U.S. Economic Growth Accelerates

July 30, 2023 Buck Banks

2.4%

“The U.S. economy grew solidly last quarter and remained well clear of a recession despite the Federal Reserve pushing interest rates higher,” the Wall Street Journal reports. “Gross domestic product grew at a seasonally and inflation adjusted annual rate of 2.4% in the second quarter, picking up slightly from 2% growth in the first three months of the year.”

Morgan Stanley Credits ‘Bidenomics’ for GDP Growth

July 23, 2023 Buck Banks

1.9%

Morgan Stanley is crediting President Biden’s economic policies with driving an unexpected surge in the U.S. economy that is so significant that the bank was forced to make a “sizable upward revision” to its estimates for U.S. gross domestic product, CNBC reports. As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. That’s nearly four times higher than the bank’s previous forecast of 0.5%.

Consumer Sentiment Hits Two-Year High

July 14, 2023July 14, 2023 Buck Banks

72.6

“U.S. consumer sentiment soared in early July to an almost two-year high, bolstered by easing inflation and a strong labor market,” Bloomberg reports. “The University of Michigan preliminary index rose by 8.2 points to 72.6, the highest since September 2021. The reading topped all forecasts in a Bloomberg survey of economists, and the monthly advance was the largest since 2006.”

Consumer Inflation Drops to 3% in June

July 12, 2023 Buck Banks

3%

U.S. consumer prices rose 3 percent in the year through June, a considerable cool-down from the peak of around 9 percent last summer, reports the New York Times.

Tag: Bidenomics

U.S. Economic Growth Remains Solid Under Biden

2.8%

Bloomberg: “Gross domestic product increased at a 2.8% annualized pace in the third quarter, the second estimate of the figures from the Bureau of Economic Analysis showed Wednesday. The economy’s primary growth engine — consumer spending — advanced 3.5%, the most this year.”

U.S. Adds Double Expected Number of Jobs in September

336,000

U.S. Economic Growth Accelerates

2.4%

Morgan Stanley Credits ‘Bidenomics’ for GDP Growth

1.9%

Consumer Sentiment Hits Two-Year High

72.6

Consumer Inflation Drops to 3% in June

3%

U.S. consumer prices rose 3 percent in the year through June, a considerable cool-down from the peak of around 9 percent last summer, reports the New York Times.

Poetic Justice

Verbatim

“As is so often the case, Donald Trump’s opponents are playing into his hands. This is exactly the kind of fight that Donald Trump loves, with his opponents carrying Mexican flags past burning cars.”

— Republican pollster Whit Ayres, quoted by the Wall Street Journal.

“Don’t kid yourself they know they are absolutely getting cooked politically with their terrible bill and rising prices, and they want to create a violent spectacle to feed their content machine. It’s time for the mainstream media to describe this authoritarian madness accurately.”

— Sen. Brian Schatz (D-HI), reacting on X to President Trump sending National Guard troops to Los Angeles.

“The people have spoken. A new political party is needed in America to represent the 80% in the middle! And exactly 80% of people agree. This is fate.”

— Elon Musk floated a new political party on Friday after falling out with President Trump over the big, beautiful bill, The Hill reports. He followed up with a potential name for the group, “The America Party.”

“Donald Trump and Elon Musk’s alliance took off like one of SpaceX’s rockets. It was supercharged and soared high. And then it blew up.”

— Associated Press

“The BBB will increase by orders of magnitude the scope, scale and speed of removing illegal and criminal aliens from the United States. For that reason alone, it’s the most essential piece of legislation currently under consideration in the entire Western World, in generations.”

— Trump aide Stephen Miller, on X, defending the Republican budget bill after Elon Musk called it a “disgusting abomination.”

Numerati

53% to 27%

As the Senate debates the GOP tax and spending bill titled One Big Beautiful Bill Act and President Donald Trump pushes for a July 4 deadline to sign it, a new Quinnipiac poll finds voters overwhelmingly oppose the legislation, 53% to 27%, with 20% not offering an opinion.

47% to 34%

A new YouGov poll finds that President Trump’s deployment of Marines to Los Angeles is deeply unpopular, with a 47 percent disapproval mark, compared with 34 percent who approve. Dispatching the National Guard isn’t much better: 45 percent disapprove and 38 percent approve.

$134 million

After persistent questioning about the cost of sending National Guard members and Marines to Los Angeles in response to protests over immigration raids, Hegseth turned to his acting comptroller, Bryn Woollacott MacDonnell, who said it would cost $134 million, the Associated Press reports.

8

Eight states, including Florida and Tennessee, have introduced or passed legislation to ban planes from emitting “chemtrails” to poison Americans or control the weather, The Guardian reports. Of course, there’s no credible evidence that this is even happening.

70%

A new KFF Health poll finds that more than 70% of Americans are worried about the impact of Medicaid cuts in the bill leading to more people uninsured and hurting hospitals.