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Morgan Stanley Credits ‘Bidenomics’ for Economic Surge
(politicalwire.com)
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this post was submitted on 24 Jul 2023
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I'm sad Biden is getting an economic system named after him that he doesn't have much to do with just because he's president. But hey, I'll take it. Reaganomics is awful, and at least having a name for the opposite is nice. Bernienomics doesn't have the same ring to it
Bidenomics isn't the opposite of Reaganomics. If anything, it's more of the same.
It's literally defined as build out from the middle and up from the bottom, how is that the same as trickle down? Or did you miss the part where it has an actual definition?
The definition and implementation are grossly out of sync then.
I'm not about to argue that the implementation does enough, but you're willfully ignorant if you don't think the infrastructure bill was exactly that. Also, Republican presidents consistently implement trickle down economics, and at the very least the Biden administration for the most part doesn't.
Republicans being worse doesn't mean democrats are good. They all worship at the neoliberal altar of trickle down, even if they make minor tweaks here and there and call it [other]nomics. The infrastructure bill had some much-needed infrastructure spending, but doesn't change anything about our trickle down economic system.
That's a very binary response. I agree that they should be doing more, but I also think it's important to recognize what they are doing. Sweeping change doesn't happen over night, and so far the actions I've seen in Biden's administration lean pretty heavily away from past neoliberal trickle down. The attempted student loan forgiveness, the new head of the FTC, investment in infrastructure and jobs, Tax plans to reverse the cuts and loopholes for the rich introduced by the previous, capping capital gains tax (as in switching to income tax after a certain number is earned), a minimum income tax on people with wealth above $100 million, and much more. All of that is counter to trickle down economics, and some of it is even a reversal from Obama era decisions and Clinton era decisions. Bernie is definitely doing work in his position, a quote from a Guardian article quoting Bernie:
So yeah, I despise Biden's past voting record and behavior, and I think we could do better. But it's totally counter productive to act like nothing has changed in this administration without actually paying attention to what's happening, the government is not just the president.
I'm almost positive that the name is Biden's idea, and his staff tried and failed to talk him out of it.
'The White House has dubbed this brick-and-mortar economic growth formula "Bidenomics," a phrase originally used by Republicans to jab the president, who co-opted the term as a badge of honor.'
https://www.cnbc.com/amp/2023/07/21/bidenomics-spurred-stronger-gdp-growth-morgan-stanley.html
Oh, this actually makes me okay with it. That's how Obamacare got its name too
Republicans and leopards eating their face.
Name a more iconic duo.
<citation needed>
And you base this on what exactly?
I base it on nothing, since it was a joke.
That's a pretty shitty cop-out 😐
Bernomics