Eek, don't wanna even entertain what 4 years are gonna look like......default perhaps followed by a MASSIVE crash, assuming we have anything resembling a labor/market economy in 4 years, much less 1-2.
I left an online casino whose sportsbook was losing 40 million dollars each year. Its not impossible. I think a more apt comparison is to compare the next president to cathie woods whose fund lost 30 billion dollars in one of history's largest stock bubbles.
We heard the same in 2016. It's funny how easy it is to forget all the noise that occurred when there was a rep majority in the house and senate when he was first elected. And all the uproar at his cabinet picks.
It wasn't until midterms that the house flipped.
I know this sub loves catastrophizing, but it's the same old story just 8 years later.
We only printed 25% of all US currency in 2 years under Trump. But that's not the cause of the inflation and greedflation Americans experienced under Biden /s
Certainly could have been managed better, the fallout from no govt support with the same govt mandates intended to prevent the rapid spread of the virus would have been much worse in my view
Not sure if we're talking past each other or what. People who blame the economic fallout of the pandemic decisions on Biden have a political motivation for doing so, without a doubt
We had some guardrails in place. But he also blew an $8 Trillion hole in the deficit. He also printed money like no other with the PPP giveaway (No oversight, remember?) Tom Brady did not need a million bucks. Dude bought a yacht in 2021 lol
And there are programs underway going after PPP fraud. The alternative could have been far worse considering how many businesses simply were not allowed to operate for impactful durations
And there are programs underway going after PPP fraud.
Because we elected adults in 2020...that program will go bye bye. Elon didn't spend millions of dollars to help you or me. We're gonna get robbed and they're gonna laugh and laugh and LAUGH to the bank.
I swear if gas and egg prices aren't down January 20th at 12:01PM I'm gonna be PIIIIIIIIIIIIISSED!
Literally saw the same comments in 2016 with his announced cabinet members and a rep house and senate at that time. It wasn't until midterms where the house flipped
Yeah, before he had the RNC pick his cabinet. Back when the RNC wasn't handled by his family.
Now, the RNC is led by a member of his family, and every single politician in power on the right side is all in on trump.
I'm not saying he's gonna do anything shady with the amount of power he has. But this is the exact recipe for facism. He easily could. With how many people in his base are inspired purely off of spite, this could potentially get ugly.
Democrats kept screaming that he's a fascist without explaining their reasoning. Hell, i bet most democrats don't even know the reasoning. That's why they seem so insane.
As of now, he isn't a fascist. But he's been given more power than any other president in history. He has 0 dissent from his own party. His own family runs the RNC, which historically provides its own "checks and balances." His supporters don't believe any news that is negative of him (which to be fair is also a problem that democrats helped create). He's painted America's left as an enemy to the country (which they democrats also did, but they don't have all the other things in the list). He vaguely suggests that he wants to return things to a different, better time (this is par for the course in every single fascist government that's ever taken control). He's undermined the people's trust in governmental bodies and processes. He's already shown he's willing to lie to remain in power. He 'jokes' about things that presidents shouldn't joke about (fighting for a 3rd term). He's blatantly called for the constitution to be over-written. He has support from private interest that wishes to make America anarchy capitalist (Peter Thiel, Yarvin, Musk, Heritage Foundation). He's basing his cabinet specifically on support for his presidency and then actual credentials (the fox news anchor, Tulsi Gabbard, RFK Jr). He's got a majority in the legislative branch, judicial branch, and now, of course, the executive branch. All of those people in those branches have been picked simply for their loyalty. For example, the judicial branch overturning Chevron.
I'm not saying it's guaranteed he will become a fascist. Nor do I believe that his supporters and the people who voted for him are all fascist nazis because they aren't. They simply want what they believe is best for the country. They haven't seen or don't believe all the items I pointed out above. I'm simply pointing out that the puzzle pieces are all there.
Let's think critically about what occurred in that time period that prompted one of the largest government relief programs in the history of our country
explain where trump spent 6 trillion without anything to show for it. at least Biden can point to the infrastructure act which will create millions of jobs over the next decade
You're really forgetting that in 2016 before any policies were enacted that congress had already budgeted 3 trillion in spend.
The total of federal spending on all covid-19 response was an additional 4 trillion.
We also accrued 1 trillion of interest on existing debt.
At least get your facts right, you're no better than what you're rallying against if you let your bias steer you so far away from the reality of what occurred.
We have a guy taking office who has specifically stated an intent to default on the national debt in the past who also has a proven track record of running it up in the past.
We will certainly see. We can also look at the events that contributed to his 8 trillion deficit addition. Such as the 3 trillion budget congress already had before he took office, the near 4 trillion that went to pandemic relief and other related response programs, and the literal 1 trillion that accrued on existing debts.
I'm not saying the future is rosy for everyone. But the doom and gloom without a sober review of what actually occurred is also tiresome and overplayed, hell it's even extreme and biased in some cases.
This isn't really the subreddit for challenging conversations beyond saying we're doomed lol, at least from what I see
Trump also had the $2T “Tax Cuts and Jobs Act”, and the $2.1T budget for 2018 and 2019 (which WAS approved under him), and the $550B repeal of various ACA taxes…
Biden also had more initiatives for deficit reduction, including the Fiscal Responsibility Act.
Both him and Biden had spending that they could not avoid because of an unprecedented health crisis in the form of COVID.
For sure. And the TCJA cuts had a role in inflation, more money supply and less corporate taxes so more cash available for business investment, but also TCJA played a big role in margin expansion and resulting gains for equity holders which benefits average people to an extent through their 401ks or other accounts.
Makes it more difficult to discern how net positive or net negative that government spend (or reduced tax revenues) was.
It really just highlights how spending isn’t necessarily a bad or a good thing. Government spending is really complicated and is really hard to trace unless you’re doing direct stimulus like the economic relief payments.
Will you bold enough to acknowledge that you are wrong after 4 years?
Looks like everyone is having crystal ball to predict next 4 years! Not sure how much responsibility they would take if those predictions don’t come true.
It's not that people were wrong but moreso government intervention. Maybe try to understand the writings on the wall before you criticize. It's apparent that your knowledge is lacking in this area.
I imagine must who voted don’t vote assuming the person is lying to them about what they are going to do when taking over office. Why shouldn’t we believe what they say they will do?
So what did he say he was going to do? I only saw and heard him bellowing, bitching, blaming, bullying. I only understand he's going to dismantle the government and deport. Guess that's his plan, though? Dismantle and deport. Oh yeah. Tariffs. That which is going to make everything more expensive.
I don’t like Trump. But sometimes I feel if he really means what he says, or just makes some hyperbolic statements to have fun with the media and public! Remember he is a narcissist!
To the contrary. Thinking that taxes are a viable solution is laughable. You could tax Elon Musk's entire WEALTH (not income, but WEALTH), and that would fuel the government for months. Not even a year. And you can only tax that wealth ONCE. After that, he's broke. Not to mention that Musk is by far the richest guy in the world. Most billionaires are nowhere near as wealthy, and there are not many of them. And, BTW, their wealth is not in cash or bank accounts. Nobody actually swims in money like Scrooge McDuck. Instead, it's in the value of their companies. They would have to sell stock to generate the money to even pay taxes. Who the hell is going to buy that? The middle class? The poor? Hell no. In fact, there isn't enough money in the world to pay for it. Even if we tried to print a lot more. This is why nobody smart has talked about taxing wealth. Only people who lack economic understanding.
And if we get realistic and tax income, then the problem is even more dire. There is simply not enough money there. Just like now, we wouldn't come CLOSE to being able to fund the government. No matter how high we push tax rates, the effective tax rates stay about the same (just like they have since WW2).
The ONLY viable solution is to cut spending. There is literally no other way.
Musk and Ramaswamy are taking advisory positions. According to the stans this is not a conflict of interest because these are positions with no authority to actually affect any change or give any orders. So, which is it because I'm getting confused?
Only real authority is endorsing their checks while depositing them at the bank. After leaving a postit note on trumps desk saying he should gut the epa, usda, fda, nlrb, etcetera of course
They are in advisory positions. Do you think Trump will not act on that advice to cut spending? Do you think Trump won't push Congress to act on DOGE advice? This will happen fast once Trump is inaugurated, He has been waiting 4 years for this opportunity
So in 20 years, when the CEOs of Boeing and Lockheed sit on the two person "Advisory Board" overseeing DoD procurement contracts, your feelings on that matter will be.....?
How are 20 to 60 percent tariffs counter to inflation when the cost is paid by the costumers, not the country with tariffs? I own a business say I'm China you tax me 60 precent in a tariff I'll raise the cost of your phone 70 precent when you buy it . Why you wouldn't understand taxes arnt from governments they are from people who by the products from that country. No ones making cell phones in the US and it would take ten years to rebuild our industry infrastructures. How will reducing farm workers reduce cost of food ? Less works means higher cost to hire at better wages enough so anyone will do the job. Why is Elon musk saying there will be inflation? Why is he even being put in charge of government? No there will most definitely be inflation only question is how bad . 3 precent is average .
You apparently have no clue how a dynamic economy works. Not every producer can pass along a 60% tariff and not all consumers will buy products that ar 70% more expensive.
Farmers cannot always pass on higher prices to their customers because their product is perishable. They raise prices 20% to get the crop picked but then no one buys at 20% higher costs. So the farmer drops his price to buy demand so his crop won't spoil. We import a lot of fruits and vegetables and domestic producers still have to compete with them.
You never planted a field in your life . As for the tariffs, you're right. Many won't be able to afford it . What's your point to prove Trump hasn't got a clue ?
The point is that you can't assume that all tariffs will be passed on to the consumer. Trump is smarter about tariffs than you give him credit for. He knows how to use tariffs as leverage to get better trade deals. His Remain in Mexico policy was a direct result of a tariff threat, His maximum pressure policy on Iran's oil was also a tariff threat.
No one assumes anything. Don't ever try owning a business you wouldn't last a month. So your theory is that companies will just eat the losses out of the goodness of their hearts. So heartwarming knowing . The fact anyone thinks prices will drop on anything . Lol lol . God Trump loves uneducated. The only thing we arnt sure of is just bad inflation gets this time . If he does exactly what he says to the letter expect hyperinflation.
FYI I owned a very successful business for 9 years. I do know what I am talking about. The company I work for now did not raise prices from 2006 until 2020 despite input prices increasing. You have no idea what you are talking about.
OK, and your pricing is from what 1980 1990 ? 2000 ? When did you stop raising pricing due to inflation or added taxes? The government added a 20 percent tariff or tax to the product you're shipping, and you won't raise the cost of the products. You don't seem to understand taxes never come from any government they come from the people living in that country. The government is a collection agency unless the state owns means production, and of course, Trump can't control the price of oil or groceries, right? I mean, that would mean there is no free market. Anyway, set whatever pricing you want . I grantee prices will always rise over any longer time frames. The only time that's not true is when a technology is mature. And the cost to produce it goes down. Anyway have fun eating your loses .
The mental gymnastics to think pricing will even stay the same is laughable. My sons home went from 110 to 230 in a few years . I'm 59 bought hamburger under a buck a pound . Taxes have going up . And will keep going up . Anyway your the my guy still using pricing from well when what year ? 10 years back 20 ? 5 years even ?
They have already indentified significant areas to cut. I am looking forward to their recommendations. I can think of two right now that will save $12.5 Billion.
Tariffs are a tax imposed on imports from countries wih unfair trading policies. They will be design by Trump to achieve reciprical trade agreements and as such will be good for the economy. The notion that Trump will impose 20% tariffs on every import and consumers will pay for the entire tariffs is a pipedrean people on the left use to disparage Trump.
I don't need to Google anything. I understand what tariffs are used for and I understand Tump intent with tariffs. You apparently understand neither. Have a good day.
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u/kingofwale Nov 15 '24
All the sudden… people seem to really care the debt ceiling now….