4 ms·

No, it was much better. Growth was solid for the entire tenure. Unemployment reached 50 year lows and prime age employment hit 25 year highs.

cyberlurker 2y ago
That’s all true, but there was high inflation and temporarily high gas prices caused in part by the War in Ukraine and OPEC cutting production. The difference is obviously these were not self inflicted like whatever the Trump administration is doing.
- laidoffamazon 2y ago
  Correct
billy99k 2y ago
https://www.politico.com/news/magazine/2025/02/11/democrats-tricked-strong-economy-00203464 https://www.politico.com/news/magazine/2025/02/11/democrats-... I will leave this here. I wish I could pin it. It's also very disingenuous to proclaim that the economy is 'terrible' and blame someone that's been in office for 2 months. I'm not just going to assume ignorance on this topic, since HN seemingly has more intelligent people commenting here, but economic changes don't happen this quickly and are a direct result of the state of the economy prior to Trump coming into office.
- JumpCrisscross 2y ago
  There was absolutely a cost-of-living crisis under Biden. Those didn’t show up in core inflation, but there were obvious in total inflation, and the party line of it being transient—which I bought at the time—was wrong. > disingenuous to proclaim that the economy is 'terrible' and blame someone that's been in office for 2 months He’s enacted massive tax increases and trade disruptions by fiat. You can see the stock market crash when he speaks. Biden and Democrats overstimulated the economy in ‘22. Trump is trashing it in 2 months. If you have doubts, listen to him, Musk and Bessent on whether their policies will cause recession.
- Aunche 2y ago
  This article is what is disingenuous. You can always cherry pick ways why you think some statistics matter more than others, but that doesn't mean that "the data is wrong". I don't have time to go through ever issue, but this one is particularly egregious > The prevailing government indicator, known colloquially as “weekly earnings,” tracks full-time wages to the exclusion of both the unemployed and those engaged in (typically lower-paid) part-time work... Think of that: American workers on the median are making 16 percent less than the prevailing statistics would indicate. As if that wasn't always the case. When you actually look at wages for the poorest Americas, they actually rose during the highest during the Biden administration https://www.epi.org/publication/swa-wages-2023/ https://www.epi.org/publication/swa-wages-2023/
- laidoffamazon 2y ago
  The data this guy refers to suggests things were _still_ better than before during the Biden term. I also don't think the economy is currently terrible - but it can easily tilt in that direction and we're on that path right now due to self-created chaos.

cyberlurker 2y ago

That’s all true, but there was high inflation and temporarily high gas prices caused in part by the War in Ukraine and OPEC cutting production. The difference is obviously these were not self inflicted like whatever the Trump administration is doing.

laidoffamazon 2y ago
Correct

billy99k 2y ago

https://www.politico.com/news/magazine/2025/02/11/democrats-tricked-strong-economy-00203464 https://www.politico.com/news/magazine/2025/02/11/democrats-... I will leave this here. I wish I could pin it. It's also very disingenuous to proclaim that the economy is 'terrible' and blame someone that's been in office for 2 months. I'm not just going to assume ignorance on this topic, since HN seemingly has more intelligent people commenting here, but economic changes don't happen this quickly and are a direct result of the state of the economy prior to Trump coming into office.

JumpCrisscross 2y ago
There was absolutely a cost-of-living crisis under Biden. Those didn’t show up in core inflation, but there were obvious in total inflation, and the party line of it being transient—which I bought at the time—was wrong. > disingenuous to proclaim that the economy is 'terrible' and blame someone that's been in office for 2 months He’s enacted massive tax increases and trade disruptions by fiat. You can see the stock market crash when he speaks. Biden and Democrats overstimulated the economy in ‘22. Trump is trashing it in 2 months. If you have doubts, listen to him, Musk and Bessent on whether their policies will cause recession.
Aunche 2y ago
This article is what is disingenuous. You can always cherry pick ways why you think some statistics matter more than others, but that doesn't mean that "the data is wrong". I don't have time to go through ever issue, but this one is particularly egregious > The prevailing government indicator, known colloquially as “weekly earnings,” tracks full-time wages to the exclusion of both the unemployed and those engaged in (typically lower-paid) part-time work... Think of that: American workers on the median are making 16 percent less than the prevailing statistics would indicate. As if that wasn't always the case. When you actually look at wages for the poorest Americas, they actually rose during the highest during the Biden administration https://www.epi.org/publication/swa-wages-2023/ https://www.epi.org/publication/swa-wages-2023/
laidoffamazon 2y ago
The data this guy refers to suggests things were _still_ better than before during the Biden term. I also don't think the economy is currently terrible - but it can easily tilt in that direction and we're on that path right now due to self-created chaos.