Economic News Thread | 3Q Annual GDP 2.8%

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This is why Republicans have been reduced to running on racial dog whistles and misogyny. Their entire traditional methods of attack against the Democrats have completely fallen apart. The economy is absolutely booming. Border crossings are at their lowest sense peak pandemic during the Trump administration. Crime rates are plummeting and reaching decades long lows. Unemployment is at historic lows. The stock market is at historic highs. Inflation is receding fast. Prices are dropping. The Fed will be cutting interest rates soon.

We are living in a golden age of American prosperity, and all the Republicans have left are the dog whistles about DEI and Harris “sleeping her way to the top.”

They are in for a very rude awakening in November.
 

U.S. Economy Grew a Robust 2.8% in Second Quarter​

Second-quarter GDP marks sharp acceleration from the first quarter​


“… Gross domestic product—the value of all goods and services produced in the U.S., adjusted for inflation and seasonality—rose at an annual rate of 2.8% for April through June, the Commerce Department said Thursday. That was more than the 1.4% rate during the first quarter, and well above the 2.1% rate economists had expected before the report. …”

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Celebration Landing GIF by Pac-12 Network
 
Wow, who is the blonde next to Maria? Sure, the 2.8 might be revised dien a little as many econ. statistics are with more data.

But she nearly lost it. I thought she was going to go full blown MAGA conspiracy nut. "Come on (slaps table with hands) there's just no way. This will be revised down.

Maria, used to be sane and stable. I think she has been on looney tunes meds since she started lying for Trump.
 
US economy is really humming along, particularly compared to other G7 countries. The staggering federal deficit still concerns me. How to reduce spending without creating a drag on the economy?
 
I read an article yesterday about the soft landing of the economy. Seems that through all the uncertainty of the economy since covid and the compounding of the issues with supply chain and other variables, we are coming out much better than it could have been.
 
CRHeel94 said:
That alone won't solve the problem. Spending is an issue as well.
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I categorically reject the notion that spending in isolation is a problem or is even meaningful in a discussion of the deficit if you aren’t willing to talk about incoming revenue.

These are two sides of the same coin. If we want lots of nice stuff and are willing to pay for it, of course spending isn’t a problem. It only becomes a problem when we don’t want to pay for it.
 
CRHeel94 said:
Both parties have been incredibly irresponsible on spending. Republicans use it as a political prop, but they have been just as bad.
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Again, Republicans tax cuts contributed as much to Republican deficits as Republican spending. If the word spending comes out of your mouth, if you want to make any sense at all, the word taxes has to come out of your mouth at more or less the same time.
 
Ummm no it doesn't.

How much to tax and how much to spend is the vital question for any government (not just the US government). There are many routes to fiscal responsibility.

It's not like I'm taking some extreme position here. Do you really believe that all federal spending is sane?
 
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