Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues IV

[squeekness]

Hope that optimism translates into Biden votes.

 

[blueharvest]

https://www.cnn.com/2023/12/22/economy/pce-inflation-consumer-spending-november/index.html

 

[blueharvest]

https://news.bloomberglaw.com/daily-labor-report/minimum-wage-hikes-primed-for-ballot-statehouse-battles-in-2024

 

[Teelie]

Poverty wages should be illegal.

 

[MagnarTheGreat]

Taylor Swift's Eras Tour and box office success boosted the economy

2023 might as well be dubbed "The Year of Taylor Swift." The 34-year-old raked in an estimated $4 billion in personal earnings alone.

scrippsnews.com

 

[blueharvest]

State tax cutting trend faces headwinds from declining revenues and tighter budgets

Almost every U.S. state has cut taxes in some way in the past three years. But that trend may be slowing as many states head into their 2024 legislative sessions with lagging tax revenues. Every state except Alaska and Nevada has enacted either permanent cuts, temporary suspensions or one-time...

www.kob.com

 

[:eek:]

US national debt hits record $34 trillion as Congress gears up for funding fight

The U.S. Treasury has announced that the nation’s gross national debt has surpassed $34 trillion

abcnews.go.com

 

[squeekness]

US national debt hits record $34 trillion as Congress gears up for funding fight

The U.S. Treasury has announced that the nation’s gross national debt has surpassed $34 trillion

abcnews.go.com

I'm not a Republican, but that's scary high. We do need to get that under better control.

 

[Teelie]

You may notice that the majority of the debt came under Trump and COVID. COVID itself was bad but Republicans cutting taxes and doing all kinds of typical Republican spending made it go even higher. Then Biden came into office and suddenly spending is too high even though he had to deal with COVID and all the **** Republicans passed and had been doing the past 4 years...

 

[squeekness]

It's only okay to spend when Republicans do it.

 

[Teelie]

That is what they say.

 

[MagnarTheGreat]

U.S. payrolls increased by 216,000 in December, much better than expected

Nonfarm payrolls were expected to increase by 170,000 in December, according to a Dow Jones consensus estimate.

www.cnbc.com

 

[blueharvest]

Big banks mull the unthinkable: suing the Fed | Semafor

A trade group representing JPMorgan and others have hired Eugene Scalia, a big legal gun, to prep a lawsuit if proposed capital rules aren’t watered down.

www.semafor.com

 

[blueharvest]

US inflation picks up more than expected in December

Prices rose by 3.4% as Americans paid more to dine out as well as on housing and car insurance.

www.bbc.com

 

[Teelie]

Big banks mull the unthinkable: suing the Fed | Semafor

A trade group representing JPMorgan and others have hired Eugene Scalia, a big legal gun, to prep a lawsuit if proposed capital rules aren’t watered down.

www.semafor.com

If the big banks are against it there is a high probability these new rules are actually good.

 

[blueharvest]

https://www.axios.com/2024/01/11/americans-red-state-us-economy-axios-vibes

 

[DJ Kornphlake]

 

[squeekness]

Awful. Nobody should be that rich. I'd be giving money away to free clinics and food banks. Buying tiny homes for homeless people.

 

[blueharvest]

Awful. Nobody should be that rich. I'd be giving money away to free clinics and food banks. Buying tiny homes for homeless people.

Exactly. After you hit a billion dollars, that should be it. The rest of their money should go to people who need it more.

 

[blueharvest]

https://news.bloomberglaw.com/daily-tax-report/trump-griffin-tax-leaker-should-get-5-years-for-theft-us-says

 

[DJ Kornphlake]

 

[Teelie]

Exactly. After you hit a billion dollars, that should be it. The rest of their money should go to people who need it more.

Half of that is more than enough for any one person to have. Even a quarter should be plenty.

 

[blueharvest]

'Call Your Representative!' House Panel to Vote on Backdoor Attack on Social Security

"This commission is a poison pill designed to slash Social Security and Medicare behind closed doors."

www.commondreams.org

 

[MagnarTheGreat]

Economic vibes are finally improving, consumer sentiment surges​

Americans say they’re feeling better about the economy than they have in years. That could be good news for Biden.

https://www.washingtonpost.com/business/2024/01/19/economy-sentiment-biden-inflation/

Gas prices are falling. Sales of cars, clothes and sporting goods have picked up. And Americans’ views on both their own finances and the economy are at their highest level in two and a half years.

Consumer sentiment, a measure of how Americans are feeling about the economy, jumped 13 percent in January to its highest level since mid-2021, reflecting optimism that inflation is easing and incomes are going up, according to a closely-watched survey by the University of Michigan. Since November, consumer sentiment has risen 29 percent, marking the largest two-month increase in more than 30 years, as consumers are starting to feel better about falling prices and rising wages.

 

[blueharvest]

The Baltimore Sun and the Great Failure of Liberal Billionaires

What right-wing rich people get that their liberal counterparts never have

newrepublic.com