Summary

President Joe Biden touted his administration’s economic recovery efforts, citing job growth, reduced inflation, and infrastructure investments, as he prepares to hand off a strong economy to Donald Trump.

Biden criticized Trump’s proposed steep tariffs on imports, warning they could harm the economy and reintroduce inflation.

Trump plans tariffs against China, Mexico, and Canada, raising concerns about trade disruptions similar to those seen during his first term.

Economists caution that such policies could quickly reverse recent economic gains and weaken the U.S. economy.

  • ChildeHarold@lemm.ee
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    4 hours ago

    I’ve heard people on the Left say that the “president doesn’t control the economy” but then people turn around and say these stupid things like “president rebuilds economy”. Which is it? Either the Fed is an independent body not influenced by politics and the executive office and Obama wasn’t to blame for 2008 or inflation and Biden isn’t to blame for the housing crisis or food prices etc. and therefore Republicans aren’t to blame for any latent economic issues imagine or otherwise; OR Biden has the power to rebuild the economy implying that everything leading up to this has in part been the fault of each respective person in office and therefore when the economy does well under the GOP it is because GOP policies are better. Idiots.

    • meep_launcher@lemm.ee
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      3 hours ago

      I think the problem you have is you think these two thoughts are coming the same person. It’s like saying “Americans are so hypocritical- one moment you hear someone say gay people have rights and then the next you hear someone say that they shouldn’t- make up your mind!” As if it was one person talking.

      The internet isn’t just you talking to one person who is busy creating threads with millions of accounts. There are at least a few dozen people here.

      • ChildeHarold@lemm.ee
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        3 hours ago

        I don’t think the internet is a monolith. I’m trying to point out to leftists the inconsistency of their own narratives. I’m trying to point out that they can’t criticize the president for the economy when half their platform is defending their own incumbents on the basis that the executive branch has limited economic impact.

        • meep_launcher@lemm.ee
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          3 hours ago

          As we all know, leftists never disagree with eachother.

          On an unrelated note, have you seen any good deals on ice picks on Facebook marketplace?

          • ChildeHarold@lemm.ee
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            2 hours ago

            my point isn’t that leftists agree or disagree. my point is that whatever narrative a Leftist accepts exposes them to unpleasant truths. I don’t know how else to be clearer. Either the executive office has direct immediate effects on the economy therefore we should be worried about Trump (but we must also admit that in the past Democratic policies are directly to blame for catastrophes like 2008), or the executive office doesn’t have a direct economic impact therefore Biden is not to blame for the current state of affairs (but we must also admit that the current state of affairs has nothing to do with Trump). Anything else is cherry picking.

            • meep_launcher@lemm.ee
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              2 hours ago

              Pretty sure leftists fall in the former camp. They’ll gladly throw Democrats under the bus, and to a leftist there is no difference between the DNC and GOP.

              Granted, the take that it’s not a binary is much more reasonable than the assumptions you are making at the top.

    • warbond@lemmy.world
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      5 hours ago

      It’s not all or nothing, the president absolutely influences the economy, but it’s indirectly enough that those changes come about slowly.