After this morning’s hot inflation numbers … and the stock market swoon … I think a little perspective on Bidenomics might be worthwhile.
In the U!S. second fiscal quarter, just ended, our GDP is estimated to have grown by $350 billion. However, in order to generate this growth, Biden is estimated to have grown our Q2 national debt by $800 billon. This tells me Budenomics, however it might appear robust, is as hollow as Buden himself.
Before I leave Pilgrim, I need to repeat … we borrowed $800 billion in the last quarter in order to stimulate our GDP by less than half that!
Lastly, it is projected that our federal deficit is expected to add $1 trillion to our debt every hundred days as long as Biden is at the helm of our ship of state. Which means inflation ain’t going away quickly even if Trump takes over.
And I can pretty much guarantee that we will not slip into recession before the fall voting. Talk about trying to buy an election …
STAND UP TO BIDENOMICS!
A look at https://fred.stlouisfed.org/series/gfdegdq188S shows the awful spike around COVID. Whether or not you believed in it, the rest of the world seemed to buy in. But the pace seems to have moderated after that higher level. So chill!
ReplyDeleteSee also https://worldpopulationreview.com/country-rankings/debt-to-gdp-ratio-by-country.
Also, whether you are a globalist or not, the world economies affect us all: https://www.economist.com/economic-and-financial-indicators/2024/04/04/economic-data-commodities-and-markets. I shared that with you, although you might hit a paywall.
Throwing links at the wall hoping it will form a chain …
ReplyDeleteJust facts. They do not seem to impact your regurgitation of the Fox/Newsmax/Breitbart drivel.
ReplyDelete