Bidenomics, Biden has grown with the office faster than any recent President. He is just now 'hitting his stride'. At any cost he must be given a second term to continue to reverse the Reagan-Gingrich-WBush-Trumpian economic/democratic/moral sclerosic disaster.
And yet polls show more Americans say the economy runs better under Republicans. Why?
1. Many still have not recovered from the pandemic.
2. Businesses are reluctant to let go of the profit making made during the pandemic that negatively impacted the working middle class.
3. There hasn't been ample time for the "middle out and up" building to take root.
Sure we can see improvement on the horizon, like here in Central Ohio where Intel chip making and Amazon data centers are still in the building phase, but so far only construction and those who support it are booming. That's something but the real goal is to get people into long term jobs with better wages and it ain't here yet.
We also see much needed upgrades to the interstates here but the majority of projects are still under construction. It helps to see the construction but until you are that new overpass and new lanes, you're still getting stuck in the traffic that comes from outdated roads.
And few consider the big picture, long term problem Democratic administrations face. I'm talking about Democrats stuck with fixing the downside of "Trickle Down" economics. It takes but a few months to cut taxes and funnel money to the 1% but it takes years, if not decades, to claw it back and that's what is casting a shadow on Bidenomics which is aided a lot with a main stream media that thrives on controversy, division and short-sightedness.
So be optimistic, we all should, but also be patient while reminding your friends and family, you can't bring a speeding train to a rapid stop or turn a battleship around on a dime. History is on our side and Biden knows that, it's a lesson that needs constant and infinite repeating.
And few consider the big picture, long term problem Democratic administrations face. I'm talking about Democrats stuck with fixing the downside of "Trickle Down" economics.
And there you have it. Part of Dems' messaging problem is that these are the things that don't fit on a bumper sticker or a sound bite. They might even require the listener to actually pay attention!
BlueRootsRadio, the belief that the economy does better under republican leadership is the result of decades of propaganda from conservatives (and perhaps libertarians) plus unquestioning support from mass media. This despite the fact that since the 60's the economy has objectively done better under Democratic presidents vs republicans. I share your frustration that it will take years to shift public opinion. That motivates me to write checks and postcards and vote for Democrats so we avoid going in reverse under a republican administration. Now about those conservative, judges with lifetime appointments who keep legislating from the bench....
Rachel Maddow just described this on Deadline WH. It's a first world problem where Presidents with a good economy never get the attention it deserves, the news isn't interested.
Republicans cash in on Democratic successes, that's why some voters think Republicans are better. Then Democrats have to come in to clean up the mess.
Like right now, things are really pretty good and getting better but the message is the economy stinks. So it keeps getting better, Democrats get voted out for an economy labeled that is really good and the Republicans get in and ride on it for two years while they are destroying the success with more tax cuts for the rich.
“And yet polls show more Americans say the economy runs better under Republicans. Why?“
There is a hidden influence in corporate culture that helps answer this question. While the trickle down theory was gaining steam in the early 80s, corporations were also implementing social psychology strategies to squeeze higher productivity out of them. One of them was to instill the idea that companies needed to become super competitive, which meant running leaner and working harder. In turn, that meant doing more with less, which meant fewer employees, longer hours and meager raises. It also meant amplifying the time honored message that employees were lucky to have their jobs so they should knuckle under and get to work. (The Jack Welch school of management.) So trickle down economics was promoted across the economy while workers were being subjected personally to a corporate culture that said all benefits of productivity go upward. And since this was all harnessed to Reagan’s “Morning in America” workers were under the illusion that they were contributing to American renewal. Generations have grown up under this illusion to the point that it informs their personal identity. Since Republicans overwhelmingly dominate corporate culture, corporate and political culture are essentially fused. Working people have no problem calling their bosses idiots among themselves, but when they are called upon to choose between a candidate who stands for “traditional” values and one who challenges them, they will usually go with the former. This is a crude thumbnail sketch, admittedly.
Agree wholeheartedly. But would add that we also have millions of people who are so immersed in right wing media that they believe what people like Tucker Carlson say on TV, etc more than their own daily life experiences.
This is all well and good. How about this? Let's get the gawddam message out!
The trumpers (they are not Republicans any more) are far better at reaching the masses. Time for the Dems to do that too. To me, the White House has been too kind to the trumpers who took federal money after voting against it.
I did see that President Biden did chide Tommy Tuberville (Moron-AL) for voting against and then bragging about the money coming for internet connections.
More of this. Fight back. Quit negotiating with terrorists.
Also, Americans bought into the propaganda marketed by Reagan, the GOP, and billionaire-funded think tanks that Republicans are better able to manage the nation's economy. Here's hoping that Biden's achievement will shatter that tired misconception.
Republicans alway tout they are the superior managers of the economy but when the get into power revert to the same old tax cuts for the rich, stick the bills with everyone else and are promptly voted out. Again it's our biggest problem that the economy can be wrecked in an instant but takes an (seemingly) eternity to fix.
You can never convince those GOP true believers, you just have to talk over them. (...and call them out when they try to take credit for things they voted against like the broadband expansion effort currently underway.)
BLR ..All mentioned ABOVE, are all, in the " IN WORK PHASE" , and Everyone, WANTS the DONE!, PHASE ! People ! , it is GOING FORWARD !! GRAB Some PATIENCE ! what is Going On, is GOOD !
Not to be a wet noodle, but as a retired septuagenarian on a fixed income (Jeesh, I sound like my father), whenever I hear that wages are going up, and I’m happy for those in the workforce, to me it means prices are going up, while my income stays relatively stagnant. In my situation, I don’t see how I share in the economic benefits of the Biden administration’s economic programs.
Cathy, Biden increased the cost of living adjustment to Social Security to biggest jump in a while and increased taxes to offset the cost. New legislation GOP wants to repeal will allow Medicare to negotiate drug prices downward instead of current system that accepts paying retail prices, which in turn should adjust downward your cost of health insurance if you supplement Medicare. If you chose to make your house/apartment more energy efficient, government will pay part of the costs to do so and save you money.
There are many programs directed at seniors from affordable internet, lower Rx prices, other expanded Social Security benefits, preference in vaccine distribution and on and on. I'm 70 & on a fixed income and feel much more secure and stable now than ever before.
The insistence on "Bottom-Up, Middle-Out" economic model is a modern, humane approach that centers on building an equitable society, free from an elite that tends to take advantage of capitalism and monopolise state resources to the disadvantage of the middle class and the poor.
President Joe Biden is responding to the urgent, immediate economic needs of the middle class after the failure of the "trickle-down economics", which surprisingly also most of other countries continued using.
Liz Truss, the 42-day Prime Minister of Britain, became the victim of the trickle down economics after, together with bank's exchequer chancellor Kwasi Kwarteng, suggested and implemented novel radical economic policies that mirrored those of the then-Prime Minister Margaret Thatcher and President Ronald Reagan.
She embarked on deregulation and cutting tax for the rich, a move that attracted criticisms from her own party. He had decided to abolish the 45% tax rate on the wealthy, but she later reversed. Liz Truss left other huge tax cuts on other proposals, but they ultimately sinked and ousted her.
The trickle down economics have proven again and again that it will plunge the economy into huge debt deficits and a near-irreversible Inequality, but it continues being the modus operandi of most countries. The rich will become extra rich, while the poor will drift away from the middle class and sink into poverty instigated by the rich.
This model induces highest consumer demand even during high inflation yet this should not be the case, as evident in Britain and other countries.
However, the bottom-up, middle out model continues to be embraced worldwide, with the latest being in Africa. In Kenya, the then presidential candidate William Ruto promised electorates that he would abolish tax waivers for the rich and cooperations. This approach catapulted him to be the head of the state and he immediately do away with the protection measures of the rich. President ask everyone to pay tax by taming tax evasion that was common among the rich and medium-sized companies. In a country with high unemployment rate, William Ruto was keen on restructuring the economy through bottom-up, middle out model.
If President Biden succeeds in this model, he would:
The bottom-up approach has been successfully implemented in China, albeit in combination with the trickle-down economic model. However, the former model has taken the center stage with the informal economic institutions being reorganised. In line with this, private firms can compete and work together in China's competitive market. The bottom-up model works in the form of multilateral industrial clusters of private firms in provinces such as Zhejiang, Jiangsu and Shanghai. In Yangzi delta area, a self-reiforcing dynamics have given rise to the formation of industrial clusters with the key emphasis being cumulative economic growth.
In market capitalism, "extensive multilateral clusters of private firms self-organized in industrial niches provide the institutional matrix of competitive advantage. The simple definition of industrial cluster used widely in economics, geography and organizations is a sectoral and spatial concentration of firms connected through vertical or horizontal relations." (Victor Nee, 2010).
Trickle down works well for the wealthy, the deficits it creates is due largely to the cost of social programs that have been in place which they need to reduce or rid them entirely. The power, ie. money of the wealthy is well spent to control the body politic to protect their wealth. And as long as there are no regulations on money spent on elections, we will continue to live by the dictates of the wealthy.
True. I have seen wealthy individuals donate to campaigns in different parties. Here is Africa, they support candidates in exchange for contracts for supply of materials. It is the sale of votes.
I understand you and sorry to hear that. I had sent an email to Dr. Richardson and I hope soon, I will be her guest. But, as a researcher, I think I share a lot with her and I really like getting to the bottom of her posts. At the same time, I really like engaging with the community here and sharing different perspectives. I have even found some with deep, primary data about some posts here. Thank you
Why not invite people to subscribe instead of what seems like getting free feedback on another blogger's page? It's almost like stealing.
People have also been having lengthy online conversations here which are off topic. I mean lengthy, not just a few comments. It's annoying to be reading comments and having to scroll and scroll to find the ones that actually have something to do with the actual content of Dr. Richardson's posts.
Edwin, a hope filled description of the strikingly different economic visions. I think it was in the late 1990s that we began to foresee services and information management as the future direction for work, at the expense of traditional heavy manufacturing and then off-shoring of traditional industries closer to their markets. The production of things would be replace by the consumption of things supported by more exciting occupations, a workforce of more highly educated and skilled workers growing their skills, rather than going into some lifelong job. An important shift pertinent to this grow from the middle economic model is how much incomes churn through the economy, spending on short-term and replaceable commodities and experiences as opposed to saving for or financing purchases of durable goods and equipment. Consumption begets consumption which begets new products and experiences which creates a sense of wealth or wellbing among more earners who spent more and increase the active wealth among more people. Old model, the money went to fewer and investors or institutions that held onto revenue, whatever its source. New model, the churn, the turnover of capital drive need and innovation and price-sensitive buyer behaviors.
It's well to underscore "model" Fred. That is not what's being delivered and will not without total buy in, which in my view is a bridge to far, for many reasons - largest of which is greed and the natures for dominion.
Thank you for the reply. I had to deeply read and reflect. In summary, the new model is premised on even distribution of wealth which begets higher consumption and increases the supply of goods and services, and thus, manufacturing. I think this is the modern and humane approach of making capitalism work for everyone.
Yes. The more people with good incomes and discretionary capital the less power a small group has on the economy and innovation. Need is a great motivator of behavior, while having discretionary capital makes want possible, with want driving advancement of the trivial (buying a latte) and sublime (e.g., good books, new art, a second home, advanced degree, a risking investment for a future wealth portfolio). Which, need or want creates the better new jobs or the local hockey stadium?
"Bidenomics is simply a new word for a time-honored American idea." New Deal (FDR), "Square Deal" (TR), "outraged" (Lincoln). The 1980-2020 predators ate up America. Biden gets it loud and clear, and gets his Presidency and his country better than most in my lifetime, rebuilding from the "middle out, and the bottom up." Another fine letter from HCR, And yet, yet, "It's the Climate . . . " If we don't figure this one out, nothing matters at all.
The "genius" behind FDR's New Deal was a woman - Frances Perkins. Research her. Her theory of government? "The people are what matter to government, and a government should aim to provide all the people under its jurisdiction the best possible life." In 1982 the U.S. debt was less than $1 trillion. Republicans have ballooned it to $33 trillion, that money going to the wealthy. Demand side economics works, supply side doesn't. Why? When people have money, they'll spend it, stimulating the economy. When people don't have money, no one is going to produce anything for which there is no market. G.H.W. Bush was right, "Supply-side economics is Voodoo economics."
Biden has hit the ball out of the park. He's amazing.
Thank-you for mentioning Frances Perkins. Without her incredible, well thought -out ideas, the New Deal would not have succeeded. Ms. Perkins‘ full history reads like a novel. We should be invoking her name more often.
Alexandra, I grew up in Texas but lived the vast majority of my life in California, by choice. I will get your book, "After the Gold Rush." Looking forward to a great read.
Richard, that's very kind of you! After the Gold Rush is not a physical book yet - I'm serializing chapters of it on Substack in the manner of one of my main characters: Mark Twain. I'm a crime and thriller writer by trade but became obsessed with that period of California history during the pandemic, and decided to publish on Substack to be able to link to original source material and photos. And because the urgency of telling history from the points of view of non-white cis men seemed and seems incredibly - urgent.
Good for you, Alexandra. Speaking of points of view, are you familiar with James Loewen's book, "Lies My Teacher Told Me." It was one of my daughter's high school history books. Can you imagine American history from the point of view of a Native American, or an African slave? But then to the contrary, there is the book by an Israeli/Jewish historian, Shlomo Sand, entitled "The Invention of the Land of Israel." The task is to control confirmation bias if one is to be rational and objective. Prof. Sand does a remarkable job.
Oh... WOW, Alexandra!! Just subscribed... this looks really GREAT!! Starting at the beginning...!! Thank you for writing it and thank you, Richard, for mentioning it. Happy Independence Day, Y'all!! :D
My musical theatre groups regularly performed “Annie” and the Cabinet scene cast includes Frances Perkins. She sings a solo in “Tomorrow”. I have always played her in every production I was in and it is my favorite small role. A lot of people know who she is now partially because “Annie” keeps her legacy fresh.
That's a great story. I am now retired to Florida, which has an absolute Fascist nut job for a governor. Did you see the four agencies that he would eliminate if he is POTUS?
No Richard.. I did not; my eyes are on other things. Do tell... please. Once upon a time I came within a heartbeat of pulling the financial trigger and buying a condo on the Manatee River, by the mouth of it in Bradenton, as I so loved the thought of being off the beaten tourist path, yet close enough to get in the mix everywhere at will. Needs of my family and my birth family took precedence and the day, so I shelved. Now, with disabilities, it's proved damn good fortune in disguise.
Think of the tens, perhaps hundreds, of millions of Americans who benefit and have benefitted from Social Security. The citizens in Finland, Norway, Sweden, Denmark and Iceland have implemented Perkins' theory of government and they are deemed to be "the happiest people on earth." I have a photo of Frances Perkins looking over FDR's shoulder as he signs a piece of legislation. I don't know for sure, but I choose to believe that it is the Social Security Act.
That's not the case. FDR implemented what Perkins demanded before she accepted the position of Secretary of Labor. Workers' Compensation was also her idea.
Frances Perkins was a true National Treasure. She was in FDR's cabinet when he was governor of New York. FDR really, really did want Perkins to be his Secretary of Labor, the first woman ever to hold a cabinet position. Perkins knew it and negotiated a "New Deal" with FDR, and the rest is history.
I agree and share your concern with Climate Change.
Unless we accelerate integration of existing policies to a sustainable economy at some point crisis will overcome all other effects to our well being.
We just cannot continue current models for water use, the accelerated migration of creepy crawly things ever northward, extinction of species now exponentially exploding and incredible weather changes build us to an outrageous possibility of life styles just sheered off with dripping pipes and sparkling dangling wires describing a the price of ignoring catastrophe.
The ridiculous spectacle of the divisions of the Colorado River that turns a major river into a mudflat at its mouth should teach us the folly of inventing resources that won’t be there when we need them.
We had better heed Lincoln-TR-FDR-Biden and include our seventh generation in the calculation.
Regardless of which perspective it serves to support and legitimize, I am repeatedly struck by just how anthropocentric all political and economic discourse is in this country. It's as if our little dysfunctional drama is the only show worth watching, the only show that matters. But alas, the human stage is a very small one.
I, for one, don't happen to subscribe to the notion that human "progress" and prosperity--namely, and most specifically, that of the material/economic/technological variety-- constitute the greatest good in the cosmos. This deeply embedded way of seeing ourselves and the world is a fatal flaw that lies festering at the root of our future dystopia.
‘…the rate of inflation has fallen by half in the past year, and new G.D.P. figures. … confirm that the U.S. economy has defied economists’ predictions of a recession. It also comes on the tails of an announcement from the Conference Board, an international economics-research organization, that its indicator of economic confidence rose to the highest level in a year and a half in June—another sign of the economy’s resilience.’ (JohnCassidy,NewYorker)
One of my favorite columnists on America’s economy is John Cassidy. As with HCR, he has been lauding the achievements of BIDENOMICS. Cassidy writes a regular column for NewYorker.com about economics and politics. ‘Over the years, he has also written many longer articles for the magazine, covering subjects ranging from the economics of John Maynard Keynes to Karl Marx and globalization to the degrowth movement.’ The following is from this week’s column.
‘Biden has a stronger economic argument to make than many people realize. In headline terms, his case can be summed up in three words: jobs, investment, and fairness. At a broad level, the Administration’s policies have helped the U.S economy rebound from the COVID-19-induced slump more strongly than many economists expected, while, simultaneously, starting to tackle some deep challenges that had long been neglected.’
‘Last month, 156.1 million Americans were employed, and the jobless rate was just 3.7 per cent. Precisely how much of the job growth we’ve seen during the past two and a half years can be attributed to the $1.9 trillion stimulus that the Biden Administration signed in the March, 2021, American Rescue Plan can be debated, but the legislation undoubtedly played a significant role in supporting demand and hiring.’
‘The number of people working full-time is at record levels, and the Labor Department’s broadest measure of unemployment, which includes people who are working part-time for economic reasons and people who are out of work but haven’t looked for employment recently, has fallen to levels not seen since before the pandemic.’
‘In the Build Back Better economic plan that Biden laid out during his 2020 Presidential campaign, he promised to boost investment in American manufacturing and bring back jobs that had been offshored. After entering the White House, he didn’t get his entire economic agenda through Congress. But, taken together, the new spending, tax credits, and investment subsidies that were contained in the infrastructure bill, the CHIPS Act, and the Inflation Reduction Act amount to an ambitious new industrial policy, which aspires to strengthen American high-tech manufacturing, make the green-energy transition a reality, and create well-paying jobs.’
‘In April, the Financial Times counted “more than 75 large-scale manufacturing announcements,” containing pledges to spend more than two hundred billion dollars combined, since the passage of the CHIPs and Inflation Reduction acts. Foreign companies like Taiwan Semiconductor Manufacturing Company and LG Energy Solution, a South Korean producer of batteries for electric vehicles, have moved to secure their place in the vast U.S. market, as have big domestic corporations, like Intel and General Motors. These manufacturing announcements are continuing, and the surge in investment and construction has become visible in aggregate economic statistics. “Inflation-adjusted construction spending in the manufacturing industry has absolutely skyrocketed since June 2022, from $90 billion to $189 billion,”
‘If these trends continue between now and November, 2024, the public might start to pay more attention to the positive developments in the economy, which have also recently included record-low rates of unemployment for Black workers, and near-record-low rates for Hispanic workers, in addition to a bump in wages for low-paid workers, who had previously seen decades of wage stagnation or declines.’ (Cassidy,NewYoker)
‘BIDENOMICS’ --- may that be on the minds of more American voters than usual when they go to vote in the presidential election of 2024?
Ronnie and Donnie were bad actors who pretended they were strong and patriotic, but they were actually rich bullies who wanted to keep their wealth while keeping the working class in its place. Tfg’s first official move proved what a bully he would be to people who needed a little help to make it to the middle class. https://time.com/4641511/trump-inauguration-mortgage-payments/
100Panthers -- FYI, This afternoon, Nicole Wallace on Dateline: Whitehouse MSNBC, 4pm EDT, will be interviewing President Biden from her studios at 30 Rock! Big deal, I think! (So sorry there are now two trolls and self-promoters who have invaded this space!)
I agree with the problems but the offstage impacts would make integrating the solutions into energy dragging enterprises.
High Speed rail, for an example, encounters the challenges of our car based construction in and around urban areas. We would have de-construct most of the Mason army barriers built since the 1950’s in order to service all the urban areas east of the Mississippi.
I think finance reform in a polarized government is likely to take decades.
- Only 45% Democrats think the country is the right track (8% GOP, 15% Indies)
- 2/3 of Country think economy headed in the wrong direction
- 79% of Country believes we are heading into a recession
- Approval rate on inflation 37%
- Approval rate on economy 39%
This is they guy who wants to "remake' the American economy? Please.
His economic team can't park a bicycle straight.
An ABC News/Washington Post survey found that 54% of American adults believe TRUMP did a "better job" handling the economy during his administration, compared to 36% who said BIDEN is handling the economy better.
As for Reagan the numbers are still staggering:
20 million new jobs were created
Inflation dropped from 13.5% in 1980 to 4.1% by 1988
Unemployment fell from 7.6% to 5.5%
Net worth of families earning between $20,000 and $50,000 annually grew by 27%
Real gross national product rose 26%
The prime interest rate was slashed by more than half, from an unprecedented 21.5% in January 1981 to 10% in August 1988
There is a reason Reagan won reelection with 49 out of 50% states in 1984.
His approval rate was 63% upon leaving office. Biden is 39%.
The only thing historic for Biden is the discontent.
Ah, yes. James. Funny how ever since 1980 when Reagan became President and pushed "trickle down" economics, the gap between rich and poor has constantly increased. Nothing trickled down to the poor and middle class except more work for less pay, higher taxes than the rich pay, and a heavier burden of paying the Republican increased national debt.
As usual, that which asserted without evidence can be dismissed without evidence.
Other than a bunch of leftist cliches, you didn't offer any evidence. You are going to get away with bullshit here.
Let me help you out, HERE IS EVIDENCE.
Reagan
1) Interest rates dropped from 13.5 to 4.1%. The cost of living buying goods and services
dropped by 400%.
2) Prime Rate dropped from 21% to 10%.
3) Wages grew by 11%
4) GDP averaged 3.5% vs. 2.7 Average.
Biden
2) Interest rates climbed from .75% to 5.25%
3) Inflation climbed in 2020 from 1.23% to 8.3%
4) Wages have fallen -3%
5) GDP 1%
THE FACTS are under Reagan wages increased 11% while the Cost of good fell by 9%
under Biden Wages decreased by -3% and the cost of goods what risen by 7%
ITS a LIE to say the middle class didn't benefit under Reagan. They sure in the HELL aren't benefiting under BIDEN. The poll on inflation (38%_) and economy (37%) are testimony
how much people dislike Biden's economic stewardship.
"While the challenges are urgent and real, the fact is that, by so many key measures, the economy today is booming. This Biden Boom has been particularly strong for workers—who have access to better-paying jobs—and are seeing their wages growing after decades of seeing economic benefits accrue to the wealthy and corporations."
Twas a fabulous important speech! No more supply chain interruptions. People having pride in what they do and actually getting a fair wage is what this is all about. Strengthening our infrastructure also gives our public educators in our schools a great opportunity to teach the truths about history. Gives every race and gender of choice, a time to rejoice and to give the uber wealthy a big third finger salute. Bidenomics is exciting and I am not going to let anyone burst my bubble as I wrap myself in it!
The original Progressives "...included Republicans Theodore Roosevelt, Hiram Johnson, Robert M. La Follette, and Charles Evans Hughes; Democrats William Jennings Bryan, Woodrow Wilson, and Al Smith..." from Wikipedia.
The original Progressives brought many welcome changes to our society. President Biden is closer to those original Progressives than any other President I've known in my three quarters of a century.
I'm hanging on to the 60's (the decade of and age wise 😎) by a thread so that next decade is on my doorstep!
My career in the investment research/portfolio management business started out with "Reganomics", "Supply Side Economics", and the "Laffer Curve" being an integral part of study materials for the CFA exams in 1980. I regurgitated it all but the intellectual wheels began to fall off the bus and cognitive dissonance set in as "Greed is Good" and subsidized oil companies were reporting $billion in profits per quarter. Working in bank trust departments, my salary was along the lines of a public school teacher vs. the Wall Street titans. The great inequities were well on their way but taking years away from the business to raise kids, I didn't see the full picture for quite a few years.
Janet, you grew! Many of us started being "groomed" in our careers. In one of my first jobs, we had "union busting" classes. I bought the lies. But not forever.
This 76 year old was a campaigner for Barry Goldwater when he was a kid. I ate up the nonsense from the National Review and William F. Buckley, Jr. All people had to do was work harder! Welfare was crippling people. Keeping people on their couches. The social safety net was a drug.
And then I grew up. I woke up. Those same fools were asking me to die in Southeast Asia. To defend a corrupt regime? Didn't they read that Ho Chi Minh feared and reviled China? Domino theory? I noticed that most rich kids weren't headed for the swamps.
In basic training I met some guys of humble backgrounds who disavowed me of my suburban bubble fantasies. When we got out, they weren't going to be able to "work hard" enough to level the playing field. I realized that the "domino theory" was as valid as "trickle down".
Since I was in the National Guard, I was actually going home to play soldier on the weekends. The last formation where NGs and the ERs (reserves) faced the regular army soldiers haunts me to this day. The RAs were APO Seattle. I was headed home to a wife and family. They might never see home. Because why? Military Industrial Establishment. Big money. They were cannon fodder.
Been a lefty, semi socialist ever since. I did become a business guy. I thrived as a "merchant". But I knew the secret to my success was the degree to which I surrounded myself with people who were better at some aspects of the job than me. Making a good living was the point but helping people grow and become successful was the rewarding part.
Hi Bill, given your support of the youth movement, I thought that you and all of us will be interested in the following:
'6 of the loudest calls to action from youth activists in 2023 (so far)
The next generation of leaders continues to fight for rights, reform, and a safe, pro-democracy future.'
'For nearly every incendiary piece of legislation, attempt to restrict access to resources, or rollback of digital protections and safe spaces proffered in 2023, a multiplied wave of activism has followed in its wake. '
'Communities virtually linked arms in solidarity amid debates on the rights afforded to Americans, with an intertwining of mutual aid efforts to fund abortion networks, transgender healthcare, and Indigenous-led climate change solutions among the many calls to pool resources to generate action. Social movements had their wins, like the union efforts of creatives and performers nationwide, while many still continue the fight for basic protections.'
'And on the ground, youth voices once again rang through, leading calls for action.'
'Gun reform activists take over Las Vegas.'
'Young activists descend on Nashville in pro-democracy rally.'
Reproductive rights activists see emergency contraception wins in Washington.
Post-Roe reproductive justice organizing continued in 2023, with students and advocates working together to come up with unique ways of providing services and support to their communities.'
'One of the many groups working within this grassroots movement has been Emergency Contraception for Every Campus(opens in a new tab), a student-led advocacy campaign from the American Society for Emergency Contraception (ASEC)) While the movement for these student access machines has been around since at least 2017 (the first machine was documented in 2012), the last year has seen a responsive push for even more location.'
'Emergency contraception vending machines have been installed at more than three dozen(opens in a new tab) college campuses since the group was founded in 2019, Axios reported(opens in a new tab). The group is joined by other youth-led sexual health campaigns like that from Advocates for Youth(opens in a new tab), as well as student protestors rallying for reproductive justice around the country.'
They realized that they couldn’t work hard enough to level the playing field. What an incredible statement (paraphrased slightly). I will remember and repeat this ad nauseam. A realization for legions…
Janet, I, too, am hanging on to the 60's by a thread. As I watched politics as I raised my three kids, I kept wondering why would the have nots vote for a man for president whose administration pushed the idea of ketchup as a vegetable for school meals. A condiment to replace an actual food item, seriously?! In 1982 when we bought our first house, the interest rate was 18%!!! That takes a serious bite out of a family budget! All kinds of shenanigans went on in the Reagan years. My daddy said, "The little guy does better under the Democrats."
JennSH, I don't know where the idea that 'have nots' are MAGA or, perhaps, more generally, Trump's base.
'The Panel Study of the MAGA Movement (PSMM) is a survey designed to assess the attitudes and behavior of the people who consider themselves part of the “Make America Great Again” movement, popularized by the Trump campaign in 2016. Understanding them is paramount. For as the base to which former President Trump played (and plays), the MAGA movement ultimately motivated his challenges to American democracy. For example, exhorted by then-President Trump, many in the MAGA movement participated in the Capitol riot, an effort to stifle the peaceful transfer of power, a staple of democracy. As the principal source of perhaps the most divisive period in American history, we thought it wise to conduct a systematic, thorough investigation of the movement. As such, the PSMM permits us to distinguish between movement supporters and activists, among other things. Ultimately, ours is a study that gauges the opinions and behavior of MAGA supporters before and, more importantly, after the events of January 6, 2021.'
'Who are MAGA supporters, and what do they believe in? In these figures, we elaborate on these questions. As the results make clear, they’re not a terribly diverse group: at least 60 percent of them are White, Christian and male. Further, around half are retired, over 65 years of age, and earn at least $50K per year. Finally, roughly 30 percent have at least a college degree. That MAGA supporters are older, Christian, men, more than half of whom are retired, comports with the now-familiar images of the Capitol riots. What may seem a bit surprising is that about half are middle-class by income, and almost 1/3 are middle-class by educational criteria. Apparently, these same images of the riot participants, ones portraying a mainly working-class crowd, were misleading.'
'Where do MAGA supporters live? This heat map shows the geographic locations of the MAGA supporters who participated in our survey. Each dot in the map corresponds with one survey respondent. Dark clusters of dots indicate that multiple respondents resided in the same geographic area. A few things stand out in this map. The first is that the MAGA movement has a presence in every state in the continental U.S. (with a few respondents residing in Alaska and Hawaii, not shown on this map). This much is expected, as we recruited survey respondents from all 50 states, proportional to state population. We discuss this more on our methods summary page. Second, MAGA presence corresponds with population density. As expected, less populous states in the Mountain West and Great Plains regions showed less activity. More populous states such as California, Texas, Florida, and other states in the Midwest and Mid-Atlantic region registered more MAGA activity. Third, MAGA presence was not constrained to rural areas, as contemporary rhetoric about the urban-rural divide might lead us to expect. In most states, MAGA respondents were clustered around major cities like Atlanta, Chicago, and Dallas.'
'The MAGA movement, it seems, is not a isolated phenomenon. Movement sympathizers make up a healthy portion of the Republican electorate, and they are well-represented throughout the country.'
'Turning to group affinities, it’s clear that conservative groups are popular among MAGA supporters. Given the demography of the group, this should come as no great shock. For instance, roughly 85 percent of MAGA supporters are members of gun-rights groups, though not necessarily gun owners.'
'Approximately 60 percent of them are members of charities and pro-police groups, respectively. In addition, roughly 50 percent of MAGA supporters belong to anti-lockdown and pro-life groups, respectively. Here’s where matters take an interesting turn. It seems like the “Stop the Steal” campaign, and militia groups, are less popular among the MAGA movement than the popular press suggests. Though not insignificant, only 38 percent of the MAGA movement identifies with the “Stop the Steal” campaign. Likewise, only roughly 23 percent of the insurgent movement identifies with militia movements of any kind.' (UniversityofWashington) For more information, see the link below.
The MAGAts in my family are more likely to be influenced by cultural issues since there are very few “have nots” in the large clan. No wealthy arses either, but they still can look down on those with less, sad to say…
Janet, our wisdom often comes from witnessing what happens when greed and bigotry rules. It’s so hard to explain it to someone who has not experienced it in their lifetime. It’s like comparing the effect of the transcript of TFG’s display of a classified document to the effect of hearing his do so. Thank you for sharing your insights.
Janet, I loved what you wrote about “Greed is Good.” In 1985 I was at the Greek Theater at the University of California (Berkeley) attending Haas School of Business graduation ceremony for a friend. Ivan Boesky was the keynote speaker and said ‘Greed is all right by the way. I think greed is healthy. You can be greedy and still feel good about yourself.” Recall the Oliver Stone movie Wall Street. Supposedly Stone got inspiration from Ivan Boesky for the infamous lines spoken by [Michael Douglas] Gordon Gekko “Greed is Good.”
As does"human". Again, as with the liberal deists who formed the early US, deeply wrong on one hugely important facet of humanity (and thus public and private policy) while being enlightened as to others. I'm not going to try to figure out how such contradictory beliefs can successfully live in the same head simultaneously, but acknowledge that apparently they did, be grateful their enlightenment went as far as it did, and work to repair the damage done (and to prevent further damage from being done) to America and Americans by the endarkened aspects of their policies.
Lynn, I like how you expressed the issue. Various people have been on the right side of many issues, while being wrong on at least one issue, with which we are still struggling. Thomas Jefferson and John Muir spring to mind.
John Muir was the principal founder of the Sierra Club, which has recently begun to address Muir's racist streak. Among other things, the current leader of the Sierra Club is Ben Jealous, former head of the NAACP, and a Person of Color.
I joined the Sierra Club in 1982, and was actively involved until the mid-'90s. Our local group in SE Wisconsin puzzled at great length about why our membership was almost exclusively white. I never detected any racism among my compatriots, but in those days we were mostly white folks.
There is an interesting article on the subject in the Atlantic, linked below. I've always had great admiration for John Muir, and I want to forgive him for his lack of internal logic in his thinking about, and respect for, and reverence for, all life on this planet -- particularly all of his fellow human beings.
Many of us are walking together on the path toward greater reverence for, and inclusivity of, all lifeforms. We have been cheering for the kids in Montana who sued on behalf of the Rights of Nature, or the right to live in a pollution-free world, or to that effect.
Progress has been slow, but nevertheless, we persist.
I think because he is closer to regular folks, their issues and their dreams than most of our presidents. Also, he’s put together a really competent, smart, and dynamic administration. And he gives them credit.
I’m squarely behind his economic plan that supports working folks. I just don’t understand why public opinion doesn’t jive with what he and the Dems have accomplished already and what they’d like to do. It’s such a stark contrast from the rich first Rs...
we need a comic book (graphic novel?) style presentation of the concepts and dynamics underlying the differences between Reaganomics and Bidenomics. And perhaps funding to send it out to EVERYONE. Or, more economically, we could generate a QR-CODE to splash everywhere, one that takes you to the URL of the Comic Book that lays it all out, with humor, etc. We really do have to find a way to spread the good news (!), and quickly.
i just learned to use a (free) QR-CODE generator that lets you upload any picture into the center of your QR-CODE image. We could make cards to pass out everywhere, with various versions (different embedded pictures) of the QR-CODE printed on them. Each version would have text beneath the QR-code picture, that would hopefully pique the curiosity of the recipient!
The more labor and skill intensive part, of course, is creating the Comic Book explaining Bidenomics vs. Reaganomics. I don't have that skill-set ..... wonder if someone's already done it? Seems like Robert Reich's team would have created something along those lines already ....
for example: One QR-code version has a picture of a guy shooting himself in the foot. The caption (below the QR-Code) says: "is this you?" .... if they open the QR-code, they go right into the "Bidenomics-vs.-Reaganomics" Comic Book, that explains how all but the uber-wealthy are "shooting themselves in the foot" by voting against Bidenomics!
Yes.I agree.And the mainstream media that a lot of Americans listen to need to start shouting it (Bidenomics) to the rooftops.I and a lot of readers here do not listen to these news outlets but many do.They need to change their tune to be in step with what a majority of the people want.
And noisy they are.... screaming like banshees as they stir the pot with drag shows, trans people, CRT, book banning, socialism, etc. while they are busy robbing us of good infrastructure, basic research, good jobs, etc. There was a news story on Taiwan last night where lots of chips are made and what would happen to us if China took it over. It would not be pretty. Some people here have also already mentioned climate change and the fact that it must be addressed. So far we have had terrible smoke from Canadian wild fires and lots of tornadoes and hurricane season is just getting started. I also see that the Supremes shafted the Navaho in terms of water. Here in Oregon we are headed for a very hot 4th, but that will not stop the dopes from firing off what sounds like ordinance as it has already started. Some cities have ended the sale and use of fireworks because they are tired of putting out fires.
You only need to “drown out the noise from the other side” when your message does not resonate.
If “Bidenomics” worked, people would know it, people would experience its positive effects in their everyday lives, and their “noise” would be silenced by Bidenomics’ success.
Ha- the thing is, this approach to economics is working.
The persistent noise from the other side is deafening. They use every trick to distract from the real benefits being realized by the Biden administration. Why? When you don’t have a plan/solution then your only option is to get people to look at something else. Why do you think book bans and transgender issues are all of a sudden so important? It’s to get people all riled up based on emotion... by doing that it drowns out rational thought.
The economy IS getting better- even skeptical economists agree.
You answered the truth. Emotion drowns out reason and logic every time. Propagandists are well-versed in the tactics and Fox has given us a master class, has it not?
Perception is reality. Fox creates a perception with their twisted distortions and the people who follow them gullibly accept it as “truth”. Sick and sad brainwashing.
Didn’t chump say that Rupert called him way more than Roger Ailes ever did. They are all in bed together. Charles Koch more reluctantly, but still…. Republican Party has been “cultified” ever since Obama’s election caused the tea party crowd to have a conniption fit. An ongoing one.
Yes, just a snap of the fingers and every plan is completed in a flash. Put money out for rebuilding, repairing infrastructure and all roads, bridges, buildings are repaired overnight. Bring specific, needed industries back to America and within a few weeks they are built, staffed, and up and running. Your expectations are unrealistic. Rome wasn’t built in a day!
Food will continue to be expensive, especially fruits, vegetables, meat and eggs, until we get price controls and rationing. Climate change and corporate greed will see to that.
It takes time for people to realize that their lives are getting better once the power of progressive government is unleashed. The Republicans had too long a run in power. Their regressive ideas and frankly, very selfish, “me first” fear ridden attitudes have been bad for the country in the long run. As Biden points out, the middle class, once met, needs to be a place where people can feel settled and secure in their choices and outlook for the future of their families. I saw how major industries were literally gutted and exported overseas to unnecessarily save cost and increase profits for the few and then, how it created a tremendous climate of uncertainty for everyone up and down the organization. A great review didn’t guarantee a great salary increase. Why was that? Who was making all the money? Why were people struggling so much? How is it possible that anyone seeking modern healthcare could be forced into bankruptcy because they lacked adequate insurance? We are a brilliant society of people free to pursue our various interests but something was way out of whack. I saw it firsthand and I can tell you that once rich, people mostly just care about themselves and their money and their place in the pecking order because ....they can and they do. A strong and fully engaged federal government that establishes and maintains basic standards of living and security for the majority of hardworking people, will keep improving the lives of all citizens: history clearly indicates this to be true. It takes time though for people to realize that their lives are either getting better or worse... and there is a skepticism that runs deep in our culture and humor that most government leaders who talk big deliver little because...it’s true. In order for the big changes to happen people have to support a proven approach and give it the time and support it deserves.... luck is part of it, too. This applies to everything in life. The Dems appear to be earning increasingly more respect for their vision because good outcomes are happening but they need more time to follow through ...which I think we’ll now get.
I totally agree, KD. It all began with Reagan who was a smiling faced actor that would smile to your face and rob you blind when you turned your back. People bought into his nonsense because they envisioned him as the good guy in movies. They bought into the trickle down theory and some lost everything and the rich got richer.
One point that you made really hit home for me. I worked in corporate America for 25 years. I watched while white males with lesser abilities were promoted because they were part of the "club". I was given very difficult projects to set up new customers and when it came time for reviews and raises even though I always got good reviews, my boss would tell me how he "fought" to get me a 2-4% raise while my male counterparts were given well established customers and much larger increases. I'm not complaining because I had a good career but it was just the way it worked.
I hope we have time to see the value and positive outcomes from "Bidenomics".
Yes…I had a support group working with me in my group and your comments are familiar. I don’t know if it’s much different today because the sales and BD make it all happen for an organization. This is partly why many CEOs get the job without necessary training and experience. Stockholders often bear the expense of their bad decisions along with the entire staff.
Sadly, too many Americans want a celebrity president. I heard someone on a podcast posit, I think it was Jen Rubin, that journalists tend to respect those they view as like themselves & that is one reason they constantly harp on Biden’s age. It is easier than reporting on actual issues.
I have started saying to people when I hear that Biden is "too old" with, I point out that many great people were and are still vibrant at older ages and then I ask them, "Is that the only complaint you have about Biden? Because if that is the only thing you can come up with, it is a pretty shallow complaint". Then I tell them about some of the great things that he has done already. I'm not sure they are convinced but at least they shut up about his age.
Maybe, but Biden is only 3 years older than Trump and journalists don’t carp at Trump’s age. Somehow all those news articles about politicians’ advanced age all seem to focus on Democrats.
Democrats and Independents will support Biden/Harris. Polling reflects our youth oriented culture. There is nothing wrong with Joe’s ideas, people do wish they were coming from a younger version of him.
Because the results of investment take time. Biden took office in the middle of the pandemic, so getting the money out and the improvements visible has taken more time than it might have otherwise. People are horribly impatient, forgetting that returns on investment take time.
That short-term impatience, exacerbated by lack of effective short- and long-term memory and by knowledge and understanding of recent American (never mind world) history resulting from the disastrous dumbing-down of Americans through decades of defunding education, shows up all over the place in our culture today. It seems to me its most pernicious effects are shown in this inability to perceive the R-deficit -- D-repair -- R-deficit cycle that's been our lot since the 80s. A lot of people made a lot of money very quickly and very easily then, and like the result of the stock market boom and crash of the 1930s, people became very impatient at not being able to continue the daily (or at least short-term) grab. I see some parallels between the US in the 2020s and the US in the 1930s - the rise of American populists and dystopian fantasists such as trump and desauron, the appallingly-monickered "moms for liberty", the modern brown-shirted "proud boys" and so-called internet "influencers", bloggers and rwnj media taking the place of Lord Haw-Haw. All of which makes our existing problems worse and, oh look, creates new ones!
I get it, that people want stability, that tomorrow be reasonably predictably like today, just a bit better. Some of us understand that to have that we can't just keep putting bandaids on cancer, that to treat and cure it takes time, effort, money, cooperation by a lot of different people, and not a little pain and inconvenience. Others don't see these cancers at all so to them not even a bandaid is needed, while yet others think the ailments are nothing more than a minor boo-boo, and that a bandaid is just what the doctor ordered. Failure or refusal to see the actual problems prevents us from fixing them, and so they grow, and what might have taken small, affordable steps to repair and maintain become disastrous, deadly, sudden emergencies (train derailments? million-acre wildfires annually? highway overpass collapses?) requiring huge expenditures of human time and effort and money to address.
And so here we are once again, Ds trying to repair the damage done, predictably, by Rs. With sensible, well-placed and adequate investment! (Sorry for the long screed, but I'm worried and angry.)
Joe Biden is the right man for this time in our history. I love the fact that he takes on the Republicans by turning their jabs and scorn back on them--Bidenomics is like Dark Brandon--you dismissed me but I will use it to reveal the weakness behind the jabs.
Now what we need to see is who else can carry on the banner here. Joe is setting up a framework that can bridge and unite all of the factions in the Democratic Party. He has the political savvy to know that to beat the Republicans, whether its Trump or DeSantis or someone else, there has to be a single theme. In 2020 it was American Democray is at stake. In 2024 it is going to be about a return of the American Dream.
I worry less and less about the MSM - especially TV. Younger voters gather their information and form their opinions quite differently than our generation. Gen Y and Z will represent 45% of potential voters next year. And most of them are on the correct side (hard to use the word "right" now) of most subjects. Diversity and Inclusion are in their DNA. And...they are wicked pissed off at the oligarchs who are burning up the Earth.
OK, I worry as well. RFK, Jr is a total nutcase and he is scary. But his funding is being revealed - I think that will blow it for most Dems. And I had optimistic coffee this morning :)
I had a similar view of RFK Jr, too. Finally started watching and listening to him. Long interviews. Lots of them. Surprise! Shockingly sensible. He's got my vote.
If we don't stop that WAR... well, nothing else matters more to me.
President Biden's age? An asset! He's probably wiser now than he's ever been. (WHY is he so married to that WAR???)
Harris and then McCarthy in line behind him, though. Either of them becoming POTUS ... THAT terrifies me.
That's indeed the big question ... will MSM finally focus on the important improvements for many Americans, or will they continue to report each convoluted lie of tfg to 'make money'?
So let us all promise ourselves and each other to do everything in our power to help get out the vote. Cause coming here and complaining about the lamestream media is mostly a waste.
1. Write postcards to voters. There are several groups that do this. Postcarding has been proven to be quite influential in elections (think Wisconsin Supreme Court election last April). Google it. I work with Indivisible.
2. Volunteer to call or text potential voters. Scary? Hard? Yep, calling takes effort for me. But this is important and it is beyond terrifying to think about sliding back to a Republican president - no matter which candidate. So I work through my anxiety, do the training snd make the calls. Just do it!
3. If you have the means, donate money. I donate to my local candidates first (Senator Amy Klobuchar is up for reelection in 24. You can damn well bet I’m already supporting her reelection campaign). If I have enough, I donate to other campaigns. I’ve identified one House race - Lauren Boebert, and one Senate race - Kyrsten Synema to knock out and send money to the Democrats who are running against them. You all know why.
4. Read and learn the talking points of what Biden is doing that is working. The best source of have found is Simon Rosenberg’s Hopium newsletter here on Substack. It is excellent! Read it.
5. Letters to the editor are effective if you are fortunate to have a local newspaper. (I do). Its is much harder to get an LTE in say the New York Times but send them anyway. This is literally the only way you can attempt to influence the mainstream media. They are in the business of making money. Clickbait garbage headlines and stories will continue no matter how much we whine.
6. Support good media. ProPublica, the group dished on Clarence Thomas’s Supreme Court grift and corruption deserves our support (as of course does HCR!).
Yes! Postcards and letters to encourage people to vote is the key. I got nasty bouts of carpal tunnel in 2020 and 2022, and know it will happen again in 2024. But so worth it. I can rest my wrists after the election. This is WAY too important to sit out.
I know. I am supporting Ruben Gallego, the Democrat, but if Kari Lake runs, it will be a three way race and it may mean that Lake might win in a three way. Sinema is an outlier and needs to be defeated in my opinion. She doesn't even support voting rights or abortion rights, let alone protecting the climate - which she ran on and received a lot of support for from Dems. I will always do what is best for Democracy but I would like to see a much better Senator for AZ than Sinema.
You arrogantly presume that WE need to "recognize" that you have mentioned "important points." Feh.
If you're pontifications really are important, that fact will be self-evident and you have no need to tell us how important they are. Since you think you have to tell us they're important, my immediate reaction is to ignore them, and I"m guessing I speak for most of the people here as well. If not, they can weigh in.
JS, this Community, in my opinion is not your "forum" to disrupt, make attacks on a new Commenter or push Ads for your perceived benefit. In my opinion, you are engaging in a form of DNS recognizable to any Platform security or content mediation department. You are free to challenge my opinion or herald your importance at JAMS SF.
I have been Commenting on the developing general law on Platform abuse for weeks now. Many states are now offering civil & other remdies to users. But, in this Community, defined Authors, Readers & Substack Inc can be mediated at JAMS in SF.
I have informed several other by disrupters that JAMS has at least 3 very qualified Mediators available incluing 1 that has litigated Platform abuse before a SF jury. The Mediators are capable.
Franklin D. Roosevelt's economic policies revisited the "American System" economic policies of George Washington, James Monroe (for the most part), John Quincy Adams, Henry Clay and Abraham Lincoln. Lincoln summed up the American System as "internal improvements [infrastructure], a protective tariff, and a national bank."
Biden has made some moves toward repairing bridges, etc., but where is his vision for high-speed trains?
Franklin D. Roosevelt, while he made no attempt to nationalize the semi-private Federal Reserve system, did "muzzle" the Fed, keeping interest rates low to channel long-term credit toward productive industries, which is part of the function of a national bank.
Biden, so far, has made no effort to undo the "free trade" tyranny that shackles the economy and which has done so much to move our industrial base overseas while simultaneously undermining our tax base.
Biden also has no proposed solution for the toxifying dollar, as the rest of the world moves toward non-dollar international trade, accelerated by Biden's diabolical and wasteful support of Ukraine's corrupt, oppressive, undemocratic right-wing thug regime.
There is also the overhanging threat of the bloated, putrid derivatives pyramid, which requires, as a necessary but insufficient first step, reinstating the Roosevelt-era "Glass-Steagall" firewall between investment banking and commercial banking.
Thank you, Heather. With each letter you write, and reading the wonderful comments, I learn more and more about American History. I have come to appreciate TR and Lincoln and FDR, too, in new and exciting ways. I love how you linked Biden’s speech to the truth about “trickle down” economics, a lie from the beginning. That is why I always abhorred Reagan, an evil man in my book. News about Bidenomics is good news for We the People and we are already seeing results in two “short” years! We must focus on keeping the Senate, expanding the number of Democratic senators and getting the House back. Biden’s election goes without saying. I saw something about needing 23 senators in 2024 to keep our majority. So much work to do, so little time!
I saw Biden's "hand" in this article about Texas from The Guardian yesterday.
"Solar helps Texas carry energy load as heatwave puts power grid to test. State has managed to avoid rolling blackouts amid three-digit temperatures thanks to its supply of solar power, experts say."
This, while the governor and other state/regional pols attempted to blame previous grid failures on renewable, "unreliable" energy sources. There's a market reality that doesn't listen to them; that nvestment flows towards more efficient, lower cost sources of energy; solar and wind have become less costly ways to generate energy. Energy storage is coming of age, growing exponentially. Balance of supply and demand is a growth business. Those who understand that don't care what the pols say.
With everything his opponents try to use against him, Biden somehow turns it around - just as he embraced the originally mocking "Dark Brandon" meme, it's amusing to see you write:
"Biden has recently embraced the term “Bidenomics,” a term coined by his opponents who insist that their embrace of tax cuts is the only way to create a healthy economy. But Bidenomics is simply a new word for a time-honored American idea."
Thanks, Dr. Heather, for your clear-eyed LFAAs - I don't know how you do it but I am grateful that you do.
What a relief to hear a President call out the Trickledown theory. I did not think Biden would be a leader, but he certainly has continued to surprise me. When i first heard about Trickledown economics i had a sinking feeling for the survival of this country. It was 42 years ago that i gave birth to my child and i was so fearful of the future with this trickledown approach. I am amazed and full of hope that Biden has found his voice. He was just what our country needed to support a healthy society. I never understood how we could live with so much and see our fellow countrymen not have housing or food. The inequality is shameful. When i was in Sweden and saw their apartments are integrated with all levels of income. I hope Biden will be reelected as he certainly is a good leader for bringing out the best in our society.
You remind me that the draft was once the melting pot, the great equalizer. Time to get several versions going again. Volunteers (drafted) in Service to America. Two years, every body!
Is there anyone left who still insists that there is no real difference between the two major political parties?
Ralph Nader, is there something you want to say?
HCR’s letter today describes the stark difference in socio-economic terms, not mentioning the moral bankruptcy of the current Republican Party. Their steep slide from mere hypocrisy to complete degeneracy; the abandonment of even the appearance of public decency, has been frightening.
Biden’s Chicago speech, and recent SCOTUS decisions, give one a bright hope of yet another re-assertion of all that has been best about American democracy.
I am hopeful for others IF people re-elect President Biden. However, think Bidenomics is too late to help me - an older GenXer.
I’m 55 now and very pessimistic over my own future. My retirement plan is to pray that I get a fatal disease before I get to the point where I can’t work anymore. I went to college. I worked hard all my adult life. Yet today, I can barely afford the cheapest of apartments AND transportation to work, and certainly can never afford to retire.
President Biden was absolutely correct about trickle-down economics not working for most regular people.
My family *was* solid middle class.
My father’s White Anglo-Saxon Protestant parents worked hard, owned a home, and sent all their four children to college. Their children all did well enough to eventually own their own homes and raise families.
My mother’s parents were children of Italian Catholic immigrants. Her father worked extremely hard to support his mother and siblings, put his brothers through college, married during WWII, and he & my grandmother raised four children. My grandfather and a partner co-formed a cabinet-making company. He elevated his family to the middle class. He put his sons through college. They all owned homes, raised families, and sent their children to college. His daughter, my mother, got married to my father.
My father worked and my mother stayed home to raise four children. My parents couldn’t afford to send us to college. We all went though, but used loans.
I started my adult life when Reagan took office. I went to college (I took out loans). By the time I graduated, my grandfather’s small cabinet-making company got eaten up by Home Depot, as did so many other businesses to larger companies.
Many small businesses disappeared and corporations got bigger and bigger. Small groceries mostly disappeared in favor of Supermarkets. Telephone companies exploded - Bell, became Ma Bell, then Verizon and AT&T. Automobile companies got stronger and were protected by government during various financial issues but could afford to pay Lobbyists to help further their interests and to buy out innovative competition (eg no electric cars even though we had the technology).
Corporations got bigger as they stomped out their competition by absorbing or destroying them. All types of businesses followed this model - Drug stores, Music stores, Gas stations, Restaurants, Medical Test facilities (X-rays, MRI’s, etc), Tax Prep Corporations, etc. Even physicians had to form Medical Practice Groups in order to pay for medical insurance because the companies within the insurance industry grew into tremendous corporations.
All these big corporations basically destroyed most of their competitors and were free to drive up prices. Just as when gas and diesel prices went up causing businesses to impose fuel surcharges, big corporations who ‘cornered the market’ on products helped drive up prices in other businesses.
Regular people like me really got squeezed. We couldn’t afford the same things our parents could. Adding to this problem, wages/salaries stagnated because corporations put their profits into growing and giving profits to shareholders instead of their workers. They also made employees sign non-compete clauses to ensure their competition couldn’t benefit from the training they gave their employees by “stealing” them through promises of higher pay. So workers couldn’t leave as easily and weren’t getting raises.
This is where we’re at now and media is helping the elite & their corporations blame immigrants and “socialists” for our problems.
Unless President Biden can get corporations to immediately start increasing worker pay (maybe by tax incentives if companies prove they raised wages/salaries by certain percentages?), people like me are going to feel pessimistic and squeezed.
I really hope Biden is re-elected for the next generation’s sake and that we stay on this track.
Excellent! Thank you for your vivid observations. A generation + faced the Reagan trap and could find no way out. Biden brings us the policies and vision to give us hope.
The best book I have read on the economic history of The New Deal is Paul Krugman's "The Conscience of a Liberal" published in 2007. He describes how instituting minimum wages, protection of unions, and higher taxes on the wealthy, created a large middle class for the first time in the United States. Bidenonomics promises to ACTUALLY make America great again. Here is a link to the Wikipedia article on Krugman's book.
FDR attacked Hoover for excessive spending. Isn’t that interesting.
A bridge collapsed over a small river here in Memphis in 1980 and US Senator Jim Sasser Tn. got the GAO to investigate and report on the nation’s bridges.
The report was ominous but not much was done until now.
....and a vivd history of Teddy Roosevelt's energetic activism, uniting 'government serving the interests of common people' with conservation of America's vast natural resources can be found in Timothy Egan's 2010 book ...The Big Burn: Teddy Roosevelt and the Fire that Saved America.
Bidenomics, Biden has grown with the office faster than any recent President. He is just now 'hitting his stride'. At any cost he must be given a second term to continue to reverse the Reagan-Gingrich-WBush-Trumpian economic/democratic/moral sclerosic disaster.
And yet polls show more Americans say the economy runs better under Republicans. Why?
1. Many still have not recovered from the pandemic.
2. Businesses are reluctant to let go of the profit making made during the pandemic that negatively impacted the working middle class.
3. There hasn't been ample time for the "middle out and up" building to take root.
Sure we can see improvement on the horizon, like here in Central Ohio where Intel chip making and Amazon data centers are still in the building phase, but so far only construction and those who support it are booming. That's something but the real goal is to get people into long term jobs with better wages and it ain't here yet.
We also see much needed upgrades to the interstates here but the majority of projects are still under construction. It helps to see the construction but until you are that new overpass and new lanes, you're still getting stuck in the traffic that comes from outdated roads.
And few consider the big picture, long term problem Democratic administrations face. I'm talking about Democrats stuck with fixing the downside of "Trickle Down" economics. It takes but a few months to cut taxes and funnel money to the 1% but it takes years, if not decades, to claw it back and that's what is casting a shadow on Bidenomics which is aided a lot with a main stream media that thrives on controversy, division and short-sightedness.
So be optimistic, we all should, but also be patient while reminding your friends and family, you can't bring a speeding train to a rapid stop or turn a battleship around on a dime. History is on our side and Biden knows that, it's a lesson that needs constant and infinite repeating.
And few consider the big picture, long term problem Democratic administrations face. I'm talking about Democrats stuck with fixing the downside of "Trickle Down" economics.
And there you have it. Part of Dems' messaging problem is that these are the things that don't fit on a bumper sticker or a sound bite. They might even require the listener to actually pay attention!
Here's a bumper sticker for you, "BIDEN GETS THE JOB DONE." If you want you could add a second line, "While Republicans Whine."
TOM !, LOVE IT !!
BlueRootsRadio, the belief that the economy does better under republican leadership is the result of decades of propaganda from conservatives (and perhaps libertarians) plus unquestioning support from mass media. This despite the fact that since the 60's the economy has objectively done better under Democratic presidents vs republicans. I share your frustration that it will take years to shift public opinion. That motivates me to write checks and postcards and vote for Democrats so we avoid going in reverse under a republican administration. Now about those conservative, judges with lifetime appointments who keep legislating from the bench....
Rachel Maddow just described this on Deadline WH. It's a first world problem where Presidents with a good economy never get the attention it deserves, the news isn't interested.
Republicans cash in on Democratic successes, that's why some voters think Republicans are better. Then Democrats have to come in to clean up the mess.
Like right now, things are really pretty good and getting better but the message is the economy stinks. So it keeps getting better, Democrats get voted out for an economy labeled that is really good and the Republicans get in and ride on it for two years while they are destroying the success with more tax cuts for the rich.
Since the 1760s...
Me too!👏🏽👏🏽👏🏽👏🏽👍🏾
“And yet polls show more Americans say the economy runs better under Republicans. Why?“
There is a hidden influence in corporate culture that helps answer this question. While the trickle down theory was gaining steam in the early 80s, corporations were also implementing social psychology strategies to squeeze higher productivity out of them. One of them was to instill the idea that companies needed to become super competitive, which meant running leaner and working harder. In turn, that meant doing more with less, which meant fewer employees, longer hours and meager raises. It also meant amplifying the time honored message that employees were lucky to have their jobs so they should knuckle under and get to work. (The Jack Welch school of management.) So trickle down economics was promoted across the economy while workers were being subjected personally to a corporate culture that said all benefits of productivity go upward. And since this was all harnessed to Reagan’s “Morning in America” workers were under the illusion that they were contributing to American renewal. Generations have grown up under this illusion to the point that it informs their personal identity. Since Republicans overwhelmingly dominate corporate culture, corporate and political culture are essentially fused. Working people have no problem calling their bosses idiots among themselves, but when they are called upon to choose between a candidate who stands for “traditional” values and one who challenges them, they will usually go with the former. This is a crude thumbnail sketch, admittedly.
“Crude thumbnail sketch” my eye. Nice job Mr. Holley.
Agree wholeheartedly. But would add that we also have millions of people who are so immersed in right wing media that they believe what people like Tucker Carlson say on TV, etc more than their own daily life experiences.
This is all well and good. How about this? Let's get the gawddam message out!
The trumpers (they are not Republicans any more) are far better at reaching the masses. Time for the Dems to do that too. To me, the White House has been too kind to the trumpers who took federal money after voting against it.
I did see that President Biden did chide Tommy Tuberville (Moron-AL) for voting against and then bragging about the money coming for internet connections.
More of this. Fight back. Quit negotiating with terrorists.
AMEN ! , Bret !
Well thank you, Mark.
Because imagine how dumb the average person is, then realize half the people are dumber than that. We're never going to get rid of their Idiocracy.
Let us not forget that the most powerful sell to non Dems is HATE. Why do they vote against their own interests? HATE.
Don't forget FEAR! Rebecca Soling correctly said "Fear is the absence of HOPE". Obama had it right. They need to be shown how to restore hope.
It is the source of the fear that generates hate.
Yes. The technical term is that fear is primary to hate. In “fight or flight” terms, hate is fear turned outward. Think of the cornered animal.
Great advice and perspective.🙏
Also, Americans bought into the propaganda marketed by Reagan, the GOP, and billionaire-funded think tanks that Republicans are better able to manage the nation's economy. Here's hoping that Biden's achievement will shatter that tired misconception.
Republicans alway tout they are the superior managers of the economy but when the get into power revert to the same old tax cuts for the rich, stick the bills with everyone else and are promptly voted out. Again it's our biggest problem that the economy can be wrecked in an instant but takes an (seemingly) eternity to fix.
You can never convince those GOP true believers, you just have to talk over them. (...and call them out when they try to take credit for things they voted against like the broadband expansion effort currently underway.)
BLR ..All mentioned ABOVE, are all, in the " IN WORK PHASE" , and Everyone, WANTS the DONE!, PHASE ! People ! , it is GOING FORWARD !! GRAB Some PATIENCE ! what is Going On, is GOOD !
Not to be a wet noodle, but as a retired septuagenarian on a fixed income (Jeesh, I sound like my father), whenever I hear that wages are going up, and I’m happy for those in the workforce, to me it means prices are going up, while my income stays relatively stagnant. In my situation, I don’t see how I share in the economic benefits of the Biden administration’s economic programs.
Cathy, Biden increased the cost of living adjustment to Social Security to biggest jump in a while and increased taxes to offset the cost. New legislation GOP wants to repeal will allow Medicare to negotiate drug prices downward instead of current system that accepts paying retail prices, which in turn should adjust downward your cost of health insurance if you supplement Medicare. If you chose to make your house/apartment more energy efficient, government will pay part of the costs to do so and save you money.
I was just thinking about that big jump in my Social Security check starting in 2023!
There are many programs directed at seniors from affordable internet, lower Rx prices, other expanded Social Security benefits, preference in vaccine distribution and on and on. I'm 70 & on a fixed income and feel much more secure and stable now than ever before.
Well said.
Subscribe to Simon Rosenthal’s Hopium Chronicles for great data on how our country does better under Democratic administrations.
Spin, BRR, spin. In other words, it's all about the 'spin' put on things. We know who owns most of the 'spin machinery' , don't we.
The insistence on "Bottom-Up, Middle-Out" economic model is a modern, humane approach that centers on building an equitable society, free from an elite that tends to take advantage of capitalism and monopolise state resources to the disadvantage of the middle class and the poor.
President Joe Biden is responding to the urgent, immediate economic needs of the middle class after the failure of the "trickle-down economics", which surprisingly also most of other countries continued using.
Liz Truss, the 42-day Prime Minister of Britain, became the victim of the trickle down economics after, together with bank's exchequer chancellor Kwasi Kwarteng, suggested and implemented novel radical economic policies that mirrored those of the then-Prime Minister Margaret Thatcher and President Ronald Reagan.
She embarked on deregulation and cutting tax for the rich, a move that attracted criticisms from her own party. He had decided to abolish the 45% tax rate on the wealthy, but she later reversed. Liz Truss left other huge tax cuts on other proposals, but they ultimately sinked and ousted her.
The trickle down economics have proven again and again that it will plunge the economy into huge debt deficits and a near-irreversible Inequality, but it continues being the modus operandi of most countries. The rich will become extra rich, while the poor will drift away from the middle class and sink into poverty instigated by the rich.
This model induces highest consumer demand even during high inflation yet this should not be the case, as evident in Britain and other countries.
However, the bottom-up, middle out model continues to be embraced worldwide, with the latest being in Africa. In Kenya, the then presidential candidate William Ruto promised electorates that he would abolish tax waivers for the rich and cooperations. This approach catapulted him to be the head of the state and he immediately do away with the protection measures of the rich. President ask everyone to pay tax by taming tax evasion that was common among the rich and medium-sized companies. In a country with high unemployment rate, William Ruto was keen on restructuring the economy through bottom-up, middle out model.
If President Biden succeeds in this model, he would:
1. Reduce Inequality
2. Spur equitable economic growth
3. Increase manufacturing
4. Stimulate innovation
The bottom-up approach has been successfully implemented in China, albeit in combination with the trickle-down economic model. However, the former model has taken the center stage with the informal economic institutions being reorganised. In line with this, private firms can compete and work together in China's competitive market. The bottom-up model works in the form of multilateral industrial clusters of private firms in provinces such as Zhejiang, Jiangsu and Shanghai. In Yangzi delta area, a self-reiforcing dynamics have given rise to the formation of industrial clusters with the key emphasis being cumulative economic growth.
In market capitalism, "extensive multilateral clusters of private firms self-organized in industrial niches provide the institutional matrix of competitive advantage. The simple definition of industrial cluster used widely in economics, geography and organizations is a sectoral and spatial concentration of firms connected through vertical or horizontal relations." (Victor Nee, 2010).
In bottom-up economic model, “if one man starts a new idea, it is
taken up by others and combined with suggestions of their own; and thus it becomes
the source of further new ideas.”
Trickle down works well for the wealthy, the deficits it creates is due largely to the cost of social programs that have been in place which they need to reduce or rid them entirely. The power, ie. money of the wealthy is well spent to control the body politic to protect their wealth. And as long as there are no regulations on money spent on elections, we will continue to live by the dictates of the wealthy.
True. I have seen wealthy individuals donate to campaigns in different parties. Here is Africa, they support candidates in exchange for contracts for supply of materials. It is the sale of votes.
👋
I may not explain the bottom-up, middle out approach fully here because it gets buried under several comments.
Instead, you can subscribe to my newsletter and I will comprehensively write and post with deep insights and notify you.
Otherwise, I always appreciate this community 🙏
Edwin Is Schmeeckle an archaic spelling for Schlemeil.
Do you mean schlemiel?
David Once again you are my distinguished proofreader.
I will ask my friend 🤔. May be they can give us hint.
I hope Dr. Richardson doesn't mind you using her blog space to toot your own horn. Sorry, but I really resent it when people do this.
Me too Mary. It raises my suspicions and hackles.
I understand you and sorry to hear that. I had sent an email to Dr. Richardson and I hope soon, I will be her guest. But, as a researcher, I think I share a lot with her and I really like getting to the bottom of her posts. At the same time, I really like engaging with the community here and sharing different perspectives. I have even found some with deep, primary data about some posts here. Thank you
Why not invite people to subscribe instead of what seems like getting free feedback on another blogger's page? It's almost like stealing.
People have also been having lengthy online conversations here which are off topic. I mean lengthy, not just a few comments. It's annoying to be reading comments and having to scroll and scroll to find the ones that actually have something to do with the actual content of Dr. Richardson's posts.
I mention some of the deficiencies in Bidenomics in this post:
https://heathercoxrichardson.substack.com/p/june-28-2023/comment/17893331
Edwin, a hope filled description of the strikingly different economic visions. I think it was in the late 1990s that we began to foresee services and information management as the future direction for work, at the expense of traditional heavy manufacturing and then off-shoring of traditional industries closer to their markets. The production of things would be replace by the consumption of things supported by more exciting occupations, a workforce of more highly educated and skilled workers growing their skills, rather than going into some lifelong job. An important shift pertinent to this grow from the middle economic model is how much incomes churn through the economy, spending on short-term and replaceable commodities and experiences as opposed to saving for or financing purchases of durable goods and equipment. Consumption begets consumption which begets new products and experiences which creates a sense of wealth or wellbing among more earners who spent more and increase the active wealth among more people. Old model, the money went to fewer and investors or institutions that held onto revenue, whatever its source. New model, the churn, the turnover of capital drive need and innovation and price-sensitive buyer behaviors.
It's well to underscore "model" Fred. That is not what's being delivered and will not without total buy in, which in my view is a bridge to far, for many reasons - largest of which is greed and the natures for dominion.
Thank you for the reply. I had to deeply read and reflect. In summary, the new model is premised on even distribution of wealth which begets higher consumption and increases the supply of goods and services, and thus, manufacturing. I think this is the modern and humane approach of making capitalism work for everyone.
Yes. The more people with good incomes and discretionary capital the less power a small group has on the economy and innovation. Need is a great motivator of behavior, while having discretionary capital makes want possible, with want driving advancement of the trivial (buying a latte) and sublime (e.g., good books, new art, a second home, advanced degree, a risking investment for a future wealth portfolio). Which, need or want creates the better new jobs or the local hockey stadium?
"Bidenomics is simply a new word for a time-honored American idea." New Deal (FDR), "Square Deal" (TR), "outraged" (Lincoln). The 1980-2020 predators ate up America. Biden gets it loud and clear, and gets his Presidency and his country better than most in my lifetime, rebuilding from the "middle out, and the bottom up." Another fine letter from HCR, And yet, yet, "It's the Climate . . . " If we don't figure this one out, nothing matters at all.
The "genius" behind FDR's New Deal was a woman - Frances Perkins. Research her. Her theory of government? "The people are what matter to government, and a government should aim to provide all the people under its jurisdiction the best possible life." In 1982 the U.S. debt was less than $1 trillion. Republicans have ballooned it to $33 trillion, that money going to the wealthy. Demand side economics works, supply side doesn't. Why? When people have money, they'll spend it, stimulating the economy. When people don't have money, no one is going to produce anything for which there is no market. G.H.W. Bush was right, "Supply-side economics is Voodoo economics."
Biden has hit the ball out of the park. He's amazing.
Thank-you for mentioning Frances Perkins. Without her incredible, well thought -out ideas, the New Deal would not have succeeded. Ms. Perkins‘ full history reads like a novel. We should be invoking her name more often.
Richard, Pam, Sander -completely agree! Out of the park and YES, Frances Perkins!!
Alexandra, I grew up in Texas but lived the vast majority of my life in California, by choice. I will get your book, "After the Gold Rush." Looking forward to a great read.
Richard, that's very kind of you! After the Gold Rush is not a physical book yet - I'm serializing chapters of it on Substack in the manner of one of my main characters: Mark Twain. I'm a crime and thriller writer by trade but became obsessed with that period of California history during the pandemic, and decided to publish on Substack to be able to link to original source material and photos. And because the urgency of telling history from the points of view of non-white cis men seemed and seems incredibly - urgent.
Good for you, Alexandra. Speaking of points of view, are you familiar with James Loewen's book, "Lies My Teacher Told Me." It was one of my daughter's high school history books. Can you imagine American history from the point of view of a Native American, or an African slave? But then to the contrary, there is the book by an Israeli/Jewish historian, Shlomo Sand, entitled "The Invention of the Land of Israel." The task is to control confirmation bias if one is to be rational and objective. Prof. Sand does a remarkable job.
Oh... WOW, Alexandra!! Just subscribed... this looks really GREAT!! Starting at the beginning...!! Thank you for writing it and thank you, Richard, for mentioning it. Happy Independence Day, Y'all!! :D
My musical theatre groups regularly performed “Annie” and the Cabinet scene cast includes Frances Perkins. She sings a solo in “Tomorrow”. I have always played her in every production I was in and it is my favorite small role. A lot of people know who she is now partially because “Annie” keeps her legacy fresh.
That's a great story. I am now retired to Florida, which has an absolute Fascist nut job for a governor. Did you see the four agencies that he would eliminate if he is POTUS?
No Richard.. I did not; my eyes are on other things. Do tell... please. Once upon a time I came within a heartbeat of pulling the financial trigger and buying a condo on the Manatee River, by the mouth of it in Bradenton, as I so loved the thought of being off the beaten tourist path, yet close enough to get in the mix everywhere at will. Needs of my family and my birth family took precedence and the day, so I shelved. Now, with disabilities, it's proved damn good fortune in disguise.
Are you there by choice?
Yes, it was my choice, but if I had it to do all over again, I would never have left California.
There is also a program at Mt Holyoke College called the Francis Perkins program. It's for non-traditionally aged students.
Thanks Richard. Out of the park indeed. & Frances Perkins is an American hero.
Think of the tens, perhaps hundreds, of millions of Americans who benefit and have benefitted from Social Security. The citizens in Finland, Norway, Sweden, Denmark and Iceland have implemented Perkins' theory of government and they are deemed to be "the happiest people on earth." I have a photo of Frances Perkins looking over FDR's shoulder as he signs a piece of legislation. I don't know for sure, but I choose to believe that it is the Social Security Act.
It's more accurately, Perkin's articulation of policy that FDR believed in Richard. She articulated it the best of all his advisors.
That's not the case. FDR implemented what Perkins demanded before she accepted the position of Secretary of Labor. Workers' Compensation was also her idea.
Frances Perkins was amazing as was Eleanor Roosevelt who worked closely with her.
yes, maybe Eleanor Roosevelt had a lot to do with the motivation for the New Deal.
Frances Perkins was a true National Treasure!
Frances Perkins was a true National Treasure. She was in FDR's cabinet when he was governor of New York. FDR really, really did want Perkins to be his Secretary of Labor, the first woman ever to hold a cabinet position. Perkins knew it and negotiated a "New Deal" with FDR, and the rest is history.
"Frances Perkins" best 'articulated' it on FDR's behalf.
I agree and share your concern with Climate Change.
Unless we accelerate integration of existing policies to a sustainable economy at some point crisis will overcome all other effects to our well being.
We just cannot continue current models for water use, the accelerated migration of creepy crawly things ever northward, extinction of species now exponentially exploding and incredible weather changes build us to an outrageous possibility of life styles just sheered off with dripping pipes and sparkling dangling wires describing a the price of ignoring catastrophe.
The ridiculous spectacle of the divisions of the Colorado River that turns a major river into a mudflat at its mouth should teach us the folly of inventing resources that won’t be there when we need them.
We had better heed Lincoln-TR-FDR-Biden and include our seventh generation in the calculation.
So far, dealing with the Climate Crisis looks like putting a bandaid on an amputation.
Regardless of which perspective it serves to support and legitimize, I am repeatedly struck by just how anthropocentric all political and economic discourse is in this country. It's as if our little dysfunctional drama is the only show worth watching, the only show that matters. But alas, the human stage is a very small one.
I, for one, don't happen to subscribe to the notion that human "progress" and prosperity--namely, and most specifically, that of the material/economic/technological variety-- constitute the greatest good in the cosmos. This deeply embedded way of seeing ourselves and the world is a fatal flaw that lies festering at the root of our future dystopia.
Interesting thought. Maybe the flaw is fixable, but it won't be easy, and time is running out.
AMEN ...
I strongly “second” that!
‘…the rate of inflation has fallen by half in the past year, and new G.D.P. figures. … confirm that the U.S. economy has defied economists’ predictions of a recession. It also comes on the tails of an announcement from the Conference Board, an international economics-research organization, that its indicator of economic confidence rose to the highest level in a year and a half in June—another sign of the economy’s resilience.’ (JohnCassidy,NewYorker)
One of my favorite columnists on America’s economy is John Cassidy. As with HCR, he has been lauding the achievements of BIDENOMICS. Cassidy writes a regular column for NewYorker.com about economics and politics. ‘Over the years, he has also written many longer articles for the magazine, covering subjects ranging from the economics of John Maynard Keynes to Karl Marx and globalization to the degrowth movement.’ The following is from this week’s column.
‘Biden has a stronger economic argument to make than many people realize. In headline terms, his case can be summed up in three words: jobs, investment, and fairness. At a broad level, the Administration’s policies have helped the U.S economy rebound from the COVID-19-induced slump more strongly than many economists expected, while, simultaneously, starting to tackle some deep challenges that had long been neglected.’
‘Last month, 156.1 million Americans were employed, and the jobless rate was just 3.7 per cent. Precisely how much of the job growth we’ve seen during the past two and a half years can be attributed to the $1.9 trillion stimulus that the Biden Administration signed in the March, 2021, American Rescue Plan can be debated, but the legislation undoubtedly played a significant role in supporting demand and hiring.’
‘The number of people working full-time is at record levels, and the Labor Department’s broadest measure of unemployment, which includes people who are working part-time for economic reasons and people who are out of work but haven’t looked for employment recently, has fallen to levels not seen since before the pandemic.’
‘In the Build Back Better economic plan that Biden laid out during his 2020 Presidential campaign, he promised to boost investment in American manufacturing and bring back jobs that had been offshored. After entering the White House, he didn’t get his entire economic agenda through Congress. But, taken together, the new spending, tax credits, and investment subsidies that were contained in the infrastructure bill, the CHIPS Act, and the Inflation Reduction Act amount to an ambitious new industrial policy, which aspires to strengthen American high-tech manufacturing, make the green-energy transition a reality, and create well-paying jobs.’
‘In April, the Financial Times counted “more than 75 large-scale manufacturing announcements,” containing pledges to spend more than two hundred billion dollars combined, since the passage of the CHIPs and Inflation Reduction acts. Foreign companies like Taiwan Semiconductor Manufacturing Company and LG Energy Solution, a South Korean producer of batteries for electric vehicles, have moved to secure their place in the vast U.S. market, as have big domestic corporations, like Intel and General Motors. These manufacturing announcements are continuing, and the surge in investment and construction has become visible in aggregate economic statistics. “Inflation-adjusted construction spending in the manufacturing industry has absolutely skyrocketed since June 2022, from $90 billion to $189 billion,”
‘If these trends continue between now and November, 2024, the public might start to pay more attention to the positive developments in the economy, which have also recently included record-low rates of unemployment for Black workers, and near-record-low rates for Hispanic workers, in addition to a bump in wages for low-paid workers, who had previously seen decades of wage stagnation or declines.’ (Cassidy,NewYoker)
‘BIDENOMICS’ --- may that be on the minds of more American voters than usual when they go to vote in the presidential election of 2024?
Thanks for bringing John Cassidy to my attention. I will seek out more of his writing.
Ronnie and Donnie were bad actors who pretended they were strong and patriotic, but they were actually rich bullies who wanted to keep their wealth while keeping the working class in its place. Tfg’s first official move proved what a bully he would be to people who needed a little help to make it to the middle class. https://time.com/4641511/trump-inauguration-mortgage-payments/
100 Panthers! Great, great moniker!
Just hitting his stride: You express it just right!
100Panthers -- FYI, This afternoon, Nicole Wallace on Dateline: Whitehouse MSNBC, 4pm EDT, will be interviewing President Biden from her studios at 30 Rock! Big deal, I think! (So sorry there are now two trolls and self-promoters who have invaded this space!)
I mention some of the deficiencies in Bidenomics in this post:
https://heathercoxrichardson.substack.com/p/june-28-2023/comment/17893331
I agree with the problems but the offstage impacts would make integrating the solutions into energy dragging enterprises.
High Speed rail, for an example, encounters the challenges of our car based construction in and around urban areas. We would have de-construct most of the Mason army barriers built since the 1950’s in order to service all the urban areas east of the Mississippi.
I think finance reform in a polarized government is likely to take decades.
We are locked into tragedy.
100 Panthers
Moral sclerosis. Perfect description!
Spot on Panther; spot on.
Amen to that!! 👏👏👏
Historic? Or delusional?
Here are his economic numbers 1% GDP (terrible), Real wages are declining (-3%)
and interest rates have soared 500%. He has driven up fuel and heating costs by 300%.
HARVARD HARRIS POLL :
https://harvardharrispoll.com/wp-content/uploads/2023/06/HHP_June2023_KeyResults.pdf
- Only 45% Democrats think the country is the right track (8% GOP, 15% Indies)
- 2/3 of Country think economy headed in the wrong direction
- 79% of Country believes we are heading into a recession
- Approval rate on inflation 37%
- Approval rate on economy 39%
This is they guy who wants to "remake' the American economy? Please.
His economic team can't park a bicycle straight.
An ABC News/Washington Post survey found that 54% of American adults believe TRUMP did a "better job" handling the economy during his administration, compared to 36% who said BIDEN is handling the economy better.
As for Reagan the numbers are still staggering:
20 million new jobs were created
Inflation dropped from 13.5% in 1980 to 4.1% by 1988
Unemployment fell from 7.6% to 5.5%
Net worth of families earning between $20,000 and $50,000 annually grew by 27%
Real gross national product rose 26%
The prime interest rate was slashed by more than half, from an unprecedented 21.5% in January 1981 to 10% in August 1988
There is a reason Reagan won reelection with 49 out of 50% states in 1984.
His approval rate was 63% upon leaving office. Biden is 39%.
The only thing historic for Biden is the discontent.
Ah, yes. James. Funny how ever since 1980 when Reagan became President and pushed "trickle down" economics, the gap between rich and poor has constantly increased. Nothing trickled down to the poor and middle class except more work for less pay, higher taxes than the rich pay, and a heavier burden of paying the Republican increased national debt.
And right-wing bullshit sure trickled down! More like a deluge! It was always there in the fringes, but it really got cranking in 1980.
Our resident trolls sure bought it hook, line, and sinker.
As usual, that which asserted without evidence can be dismissed without evidence.
Other than a bunch of leftist cliches, you didn't offer any evidence. You are going to get away with bullshit here.
Let me help you out, HERE IS EVIDENCE.
Reagan
1) Interest rates dropped from 13.5 to 4.1%. The cost of living buying goods and services
dropped by 400%.
2) Prime Rate dropped from 21% to 10%.
3) Wages grew by 11%
4) GDP averaged 3.5% vs. 2.7 Average.
Biden
2) Interest rates climbed from .75% to 5.25%
3) Inflation climbed in 2020 from 1.23% to 8.3%
4) Wages have fallen -3%
5) GDP 1%
THE FACTS are under Reagan wages increased 11% while the Cost of good fell by 9%
under Biden Wages decreased by -3% and the cost of goods what risen by 7%
ITS a LIE to say the middle class didn't benefit under Reagan. They sure in the HELL aren't benefiting under BIDEN. The poll on inflation (38%_) and economy (37%) are testimony
how much people dislike Biden's economic stewardship.
Where do your "facts" come from? They are questionable. Biden wasn't President until 2021.
I agree as long as "questionable" is a synonym for "BS."
https://www.faireconomy.org/trickle_down_economics_four_reasons
https://www.thebalancemoney.com/trickle-down-economics-theory-effect-does-it-work-3305572
https://www.americanprogress.org/article/the-biden-boom-economic-recovery-in-2021/
"While the challenges are urgent and real, the fact is that, by so many key measures, the economy today is booming. This Biden Boom has been particularly strong for workers—who have access to better-paying jobs—and are seeing their wages growing after decades of seeing economic benefits accrue to the wealthy and corporations."
"Homelessness spikes in U.S.'s most populous county as Biden sends billions to Ukraine"
https://sputnikglobe.com/20230630/homelessness-spikes-in-uss-most-populous-county-while-biden-sends-billions-to-ukraine-1111586723.html
Twas a fabulous important speech! No more supply chain interruptions. People having pride in what they do and actually getting a fair wage is what this is all about. Strengthening our infrastructure also gives our public educators in our schools a great opportunity to teach the truths about history. Gives every race and gender of choice, a time to rejoice and to give the uber wealthy a big third finger salute. Bidenomics is exciting and I am not going to let anyone burst my bubble as I wrap myself in it!
Be sure to have a breathing hole
HA! I’ll use a straw, just in case.
It’s also a great way to keep people from the allure of following a dictator who claims “I alone can fix it.”
The original Progressives "...included Republicans Theodore Roosevelt, Hiram Johnson, Robert M. La Follette, and Charles Evans Hughes; Democrats William Jennings Bryan, Woodrow Wilson, and Al Smith..." from Wikipedia.
The original Progressives brought many welcome changes to our society. President Biden is closer to those original Progressives than any other President I've known in my three quarters of a century.
3/4 of a century. A lot of us here!!!
I'm hanging on to the 60's (the decade of and age wise 😎) by a thread so that next decade is on my doorstep!
My career in the investment research/portfolio management business started out with "Reganomics", "Supply Side Economics", and the "Laffer Curve" being an integral part of study materials for the CFA exams in 1980. I regurgitated it all but the intellectual wheels began to fall off the bus and cognitive dissonance set in as "Greed is Good" and subsidized oil companies were reporting $billion in profits per quarter. Working in bank trust departments, my salary was along the lines of a public school teacher vs. the Wall Street titans. The great inequities were well on their way but taking years away from the business to raise kids, I didn't see the full picture for quite a few years.
Janet, you grew! Many of us started being "groomed" in our careers. In one of my first jobs, we had "union busting" classes. I bought the lies. But not forever.
This 76 year old was a campaigner for Barry Goldwater when he was a kid. I ate up the nonsense from the National Review and William F. Buckley, Jr. All people had to do was work harder! Welfare was crippling people. Keeping people on their couches. The social safety net was a drug.
And then I grew up. I woke up. Those same fools were asking me to die in Southeast Asia. To defend a corrupt regime? Didn't they read that Ho Chi Minh feared and reviled China? Domino theory? I noticed that most rich kids weren't headed for the swamps.
In basic training I met some guys of humble backgrounds who disavowed me of my suburban bubble fantasies. When we got out, they weren't going to be able to "work hard" enough to level the playing field. I realized that the "domino theory" was as valid as "trickle down".
Since I was in the National Guard, I was actually going home to play soldier on the weekends. The last formation where NGs and the ERs (reserves) faced the regular army soldiers haunts me to this day. The RAs were APO Seattle. I was headed home to a wife and family. They might never see home. Because why? Military Industrial Establishment. Big money. They were cannon fodder.
Been a lefty, semi socialist ever since. I did become a business guy. I thrived as a "merchant". But I knew the secret to my success was the degree to which I surrounded myself with people who were better at some aspects of the job than me. Making a good living was the point but helping people grow and become successful was the rewarding part.
Hi Bill, given your support of the youth movement, I thought that you and all of us will be interested in the following:
'6 of the loudest calls to action from youth activists in 2023 (so far)
The next generation of leaders continues to fight for rights, reform, and a safe, pro-democracy future.'
'For nearly every incendiary piece of legislation, attempt to restrict access to resources, or rollback of digital protections and safe spaces proffered in 2023, a multiplied wave of activism has followed in its wake. '
'Communities virtually linked arms in solidarity amid debates on the rights afforded to Americans, with an intertwining of mutual aid efforts to fund abortion networks, transgender healthcare, and Indigenous-led climate change solutions among the many calls to pool resources to generate action. Social movements had their wins, like the union efforts of creatives and performers nationwide, while many still continue the fight for basic protections.'
'And on the ground, youth voices once again rang through, leading calls for action.'
'Gun reform activists take over Las Vegas.'
'Young activists descend on Nashville in pro-democracy rally.'
Reproductive rights activists see emergency contraception wins in Washington.
Post-Roe reproductive justice organizing continued in 2023, with students and advocates working together to come up with unique ways of providing services and support to their communities.'
'One of the many groups working within this grassroots movement has been Emergency Contraception for Every Campus(opens in a new tab), a student-led advocacy campaign from the American Society for Emergency Contraception (ASEC)) While the movement for these student access machines has been around since at least 2017 (the first machine was documented in 2012), the last year has seen a responsive push for even more location.'
'Emergency contraception vending machines have been installed at more than three dozen(opens in a new tab) college campuses since the group was founded in 2019, Axios reported(opens in a new tab). The group is joined by other youth-led sexual health campaigns like that from Advocates for Youth(opens in a new tab), as well as student protestors rallying for reproductive justice around the country.'
Related Stories
Record-breaking Wisconsin Supreme Court flip sparks reflection on youth voter mobilization
'Profound risk of harm': Surgeon General issues warning about youth social media use
Netflix documentary ‘Victim/Suspect’ digs into systemic scrutiny of sexual assault survivors
Libraries take to TikTok to build community and new cultural relevance
TikTok spotlights creators in its first-ever LGBTQ Pride Visionary Voices list. (Mashable) For more youth movement news see link below.
https://mashable.com/article/youth-activism-2023-so-far
Thank you Bill!
They realized that they couldn’t work hard enough to level the playing field. What an incredible statement (paraphrased slightly). I will remember and repeat this ad nauseam. A realization for legions…
Janet, I, too, am hanging on to the 60's by a thread. As I watched politics as I raised my three kids, I kept wondering why would the have nots vote for a man for president whose administration pushed the idea of ketchup as a vegetable for school meals. A condiment to replace an actual food item, seriously?! In 1982 when we bought our first house, the interest rate was 18%!!! That takes a serious bite out of a family budget! All kinds of shenanigans went on in the Reagan years. My daddy said, "The little guy does better under the Democrats."
JennSH, I don't know where the idea that 'have nots' are MAGA or, perhaps, more generally, Trump's base.
'The Panel Study of the MAGA Movement (PSMM) is a survey designed to assess the attitudes and behavior of the people who consider themselves part of the “Make America Great Again” movement, popularized by the Trump campaign in 2016. Understanding them is paramount. For as the base to which former President Trump played (and plays), the MAGA movement ultimately motivated his challenges to American democracy. For example, exhorted by then-President Trump, many in the MAGA movement participated in the Capitol riot, an effort to stifle the peaceful transfer of power, a staple of democracy. As the principal source of perhaps the most divisive period in American history, we thought it wise to conduct a systematic, thorough investigation of the movement. As such, the PSMM permits us to distinguish between movement supporters and activists, among other things. Ultimately, ours is a study that gauges the opinions and behavior of MAGA supporters before and, more importantly, after the events of January 6, 2021.'
'Who are MAGA supporters, and what do they believe in? In these figures, we elaborate on these questions. As the results make clear, they’re not a terribly diverse group: at least 60 percent of them are White, Christian and male. Further, around half are retired, over 65 years of age, and earn at least $50K per year. Finally, roughly 30 percent have at least a college degree. That MAGA supporters are older, Christian, men, more than half of whom are retired, comports with the now-familiar images of the Capitol riots. What may seem a bit surprising is that about half are middle-class by income, and almost 1/3 are middle-class by educational criteria. Apparently, these same images of the riot participants, ones portraying a mainly working-class crowd, were misleading.'
'Where do MAGA supporters live? This heat map shows the geographic locations of the MAGA supporters who participated in our survey. Each dot in the map corresponds with one survey respondent. Dark clusters of dots indicate that multiple respondents resided in the same geographic area. A few things stand out in this map. The first is that the MAGA movement has a presence in every state in the continental U.S. (with a few respondents residing in Alaska and Hawaii, not shown on this map). This much is expected, as we recruited survey respondents from all 50 states, proportional to state population. We discuss this more on our methods summary page. Second, MAGA presence corresponds with population density. As expected, less populous states in the Mountain West and Great Plains regions showed less activity. More populous states such as California, Texas, Florida, and other states in the Midwest and Mid-Atlantic region registered more MAGA activity. Third, MAGA presence was not constrained to rural areas, as contemporary rhetoric about the urban-rural divide might lead us to expect. In most states, MAGA respondents were clustered around major cities like Atlanta, Chicago, and Dallas.'
'The MAGA movement, it seems, is not a isolated phenomenon. Movement sympathizers make up a healthy portion of the Republican electorate, and they are well-represented throughout the country.'
'Turning to group affinities, it’s clear that conservative groups are popular among MAGA supporters. Given the demography of the group, this should come as no great shock. For instance, roughly 85 percent of MAGA supporters are members of gun-rights groups, though not necessarily gun owners.'
'Approximately 60 percent of them are members of charities and pro-police groups, respectively. In addition, roughly 50 percent of MAGA supporters belong to anti-lockdown and pro-life groups, respectively. Here’s where matters take an interesting turn. It seems like the “Stop the Steal” campaign, and militia groups, are less popular among the MAGA movement than the popular press suggests. Though not insignificant, only 38 percent of the MAGA movement identifies with the “Stop the Steal” campaign. Likewise, only roughly 23 percent of the insurgent movement identifies with militia movements of any kind.' (UniversityofWashington) For more information, see the link below.
https://sites.uw.edu/magastudy/maga-and-politics/
The MAGAts in my family are more likely to be influenced by cultural issues since there are very few “have nots” in the large clan. No wealthy arses either, but they still can look down on those with less, sad to say…
Janet, our wisdom often comes from witnessing what happens when greed and bigotry rules. It’s so hard to explain it to someone who has not experienced it in their lifetime. It’s like comparing the effect of the transcript of TFG’s display of a classified document to the effect of hearing his do so. Thank you for sharing your insights.
Janet, I loved what you wrote about “Greed is Good.” In 1985 I was at the Greek Theater at the University of California (Berkeley) attending Haas School of Business graduation ceremony for a friend. Ivan Boesky was the keynote speaker and said ‘Greed is all right by the way. I think greed is healthy. You can be greedy and still feel good about yourself.” Recall the Oliver Stone movie Wall Street. Supposedly Stone got inspiration from Ivan Boesky for the infamous lines spoken by [Michael Douglas] Gordon Gekko “Greed is Good.”
The 1980's era with Ivan Boesky, "Neutron Jack Welch" et. al. was something else. It really set the stage for what was to come.
Yikes, Robert. I resemble that 😎
Same! 😂
Haha!🌈🙏🏼🎈
Yep
Agreed and I’m your age.
Woodrow Wilson was an open, active racist who pushed Black people out of jobs in the government.
"...We shall overcome because the arc of the moral universe is long but it bends toward justice." Rev. Dr. Martin Luther King Jr.
The description "progressive" inherently falls short of perfection.
As does"human". Again, as with the liberal deists who formed the early US, deeply wrong on one hugely important facet of humanity (and thus public and private policy) while being enlightened as to others. I'm not going to try to figure out how such contradictory beliefs can successfully live in the same head simultaneously, but acknowledge that apparently they did, be grateful their enlightenment went as far as it did, and work to repair the damage done (and to prevent further damage from being done) to America and Americans by the endarkened aspects of their policies.
Lynn, I like how you expressed the issue. Various people have been on the right side of many issues, while being wrong on at least one issue, with which we are still struggling. Thomas Jefferson and John Muir spring to mind.
John Muir was the principal founder of the Sierra Club, which has recently begun to address Muir's racist streak. Among other things, the current leader of the Sierra Club is Ben Jealous, former head of the NAACP, and a Person of Color.
I joined the Sierra Club in 1982, and was actively involved until the mid-'90s. Our local group in SE Wisconsin puzzled at great length about why our membership was almost exclusively white. I never detected any racism among my compatriots, but in those days we were mostly white folks.
There is an interesting article on the subject in the Atlantic, linked below. I've always had great admiration for John Muir, and I want to forgive him for his lack of internal logic in his thinking about, and respect for, and reverence for, all life on this planet -- particularly all of his fellow human beings.
Many of us are walking together on the path toward greater reverence for, and inclusivity of, all lifeforms. We have been cheering for the kids in Montana who sued on behalf of the Rights of Nature, or the right to live in a pollution-free world, or to that effect.
Progress has been slow, but nevertheless, we persist.
https://www.theatlantic.com/ideas/archive/2021/04/conservation-movements-complicated-history/618556/
I think because he is closer to regular folks, their issues and their dreams than most of our presidents. Also, he’s put together a really competent, smart, and dynamic administration. And he gives them credit.
"He's put together a really competent, smart, and dynamic administration." Thanks.
I’m squarely behind his economic plan that supports working folks. I just don’t understand why public opinion doesn’t jive with what he and the Dems have accomplished already and what they’d like to do. It’s such a stark contrast from the rich first Rs...
The Democrats need to keep presenting Bidenomics to America...and do it in a loud voice, so it drowns out the noise from the other side.
we need a comic book (graphic novel?) style presentation of the concepts and dynamics underlying the differences between Reaganomics and Bidenomics. And perhaps funding to send it out to EVERYONE. Or, more economically, we could generate a QR-CODE to splash everywhere, one that takes you to the URL of the Comic Book that lays it all out, with humor, etc. We really do have to find a way to spread the good news (!), and quickly.
QR code - excellent idea!
i just learned to use a (free) QR-CODE generator that lets you upload any picture into the center of your QR-CODE image. We could make cards to pass out everywhere, with various versions (different embedded pictures) of the QR-CODE printed on them. Each version would have text beneath the QR-code picture, that would hopefully pique the curiosity of the recipient!
The more labor and skill intensive part, of course, is creating the Comic Book explaining Bidenomics vs. Reaganomics. I don't have that skill-set ..... wonder if someone's already done it? Seems like Robert Reich's team would have created something along those lines already ....
Robert Reich would be my go-to guy for political cartoons and drawings. Great idea.
for example: One QR-code version has a picture of a guy shooting himself in the foot. The caption (below the QR-Code) says: "is this you?" .... if they open the QR-code, they go right into the "Bidenomics-vs.-Reaganomics" Comic Book, that explains how all but the uber-wealthy are "shooting themselves in the foot" by voting against Bidenomics!
Graphic comic book or or QR code..brilliant!
Maybe we also need fine art silk screened posters.
Shepard Fairey's screen print of Barack Obama was popular.
Yes.I agree.And the mainstream media that a lot of Americans listen to need to start shouting it (Bidenomics) to the rooftops.I and a lot of readers here do not listen to these news outlets but many do.They need to change their tune to be in step with what a majority of the people want.
And noisy they are.... screaming like banshees as they stir the pot with drag shows, trans people, CRT, book banning, socialism, etc. while they are busy robbing us of good infrastructure, basic research, good jobs, etc. There was a news story on Taiwan last night where lots of chips are made and what would happen to us if China took it over. It would not be pretty. Some people here have also already mentioned climate change and the fact that it must be addressed. So far we have had terrible smoke from Canadian wild fires and lots of tornadoes and hurricane season is just getting started. I also see that the Supremes shafted the Navaho in terms of water. Here in Oregon we are headed for a very hot 4th, but that will not stop the dopes from firing off what sounds like ordinance as it has already started. Some cities have ended the sale and use of fireworks because they are tired of putting out fires.
You only need to “drown out the noise from the other side” when your message does not resonate.
If “Bidenomics” worked, people would know it, people would experience its positive effects in their everyday lives, and their “noise” would be silenced by Bidenomics’ success.
Ha- the thing is, this approach to economics is working.
The persistent noise from the other side is deafening. They use every trick to distract from the real benefits being realized by the Biden administration. Why? When you don’t have a plan/solution then your only option is to get people to look at something else. Why do you think book bans and transgender issues are all of a sudden so important? It’s to get people all riled up based on emotion... by doing that it drowns out rational thought.
The economy IS getting better- even skeptical economists agree.
You answered the truth. Emotion drowns out reason and logic every time. Propagandists are well-versed in the tactics and Fox has given us a master class, has it not?
Perception is reality. Fox creates a perception with their twisted distortions and the people who follow them gullibly accept it as “truth”. Sick and sad brainwashing.
Seen it up close with. My ex-best friend. Smart woman who thought her FOXy husband was smarter.
Yes Fox- but all the republicans in the House who just talk all day and say little. The especially have no solution.
Didn’t chump say that Rupert called him way more than Roger Ailes ever did. They are all in bed together. Charles Koch more reluctantly, but still…. Republican Party has been “cultified” ever since Obama’s election caused the tea party crowd to have a conniption fit. An ongoing one.
Well said!!!
Again, people would see it in their pocketbooks, their bills, their grocery carts, etc. You can’t shout that away or into reality.
Yes, just a snap of the fingers and every plan is completed in a flash. Put money out for rebuilding, repairing infrastructure and all roads, bridges, buildings are repaired overnight. Bring specific, needed industries back to America and within a few weeks they are built, staffed, and up and running. Your expectations are unrealistic. Rome wasn’t built in a day!
Oh, the irony!
Yes. These are long-term investments in our country and its people. It takes time!
Food will continue to be expensive, especially fruits, vegetables, meat and eggs, until we get price controls and rationing. Climate change and corporate greed will see to that.
It takes time for people to realize that their lives are getting better once the power of progressive government is unleashed. The Republicans had too long a run in power. Their regressive ideas and frankly, very selfish, “me first” fear ridden attitudes have been bad for the country in the long run. As Biden points out, the middle class, once met, needs to be a place where people can feel settled and secure in their choices and outlook for the future of their families. I saw how major industries were literally gutted and exported overseas to unnecessarily save cost and increase profits for the few and then, how it created a tremendous climate of uncertainty for everyone up and down the organization. A great review didn’t guarantee a great salary increase. Why was that? Who was making all the money? Why were people struggling so much? How is it possible that anyone seeking modern healthcare could be forced into bankruptcy because they lacked adequate insurance? We are a brilliant society of people free to pursue our various interests but something was way out of whack. I saw it firsthand and I can tell you that once rich, people mostly just care about themselves and their money and their place in the pecking order because ....they can and they do. A strong and fully engaged federal government that establishes and maintains basic standards of living and security for the majority of hardworking people, will keep improving the lives of all citizens: history clearly indicates this to be true. It takes time though for people to realize that their lives are either getting better or worse... and there is a skepticism that runs deep in our culture and humor that most government leaders who talk big deliver little because...it’s true. In order for the big changes to happen people have to support a proven approach and give it the time and support it deserves.... luck is part of it, too. This applies to everything in life. The Dems appear to be earning increasingly more respect for their vision because good outcomes are happening but they need more time to follow through ...which I think we’ll now get.
I totally agree, KD. It all began with Reagan who was a smiling faced actor that would smile to your face and rob you blind when you turned your back. People bought into his nonsense because they envisioned him as the good guy in movies. They bought into the trickle down theory and some lost everything and the rich got richer.
One point that you made really hit home for me. I worked in corporate America for 25 years. I watched while white males with lesser abilities were promoted because they were part of the "club". I was given very difficult projects to set up new customers and when it came time for reviews and raises even though I always got good reviews, my boss would tell me how he "fought" to get me a 2-4% raise while my male counterparts were given well established customers and much larger increases. I'm not complaining because I had a good career but it was just the way it worked.
I hope we have time to see the value and positive outcomes from "Bidenomics".
Yes…I had a support group working with me in my group and your comments are familiar. I don’t know if it’s much different today because the sales and BD make it all happen for an organization. This is partly why many CEOs get the job without necessary training and experience. Stockholders often bear the expense of their bad decisions along with the entire staff.
KD, excellent comments! So many good points. More, please.
But may I suggest paragraph breaks? Easier to read. And your thoughts should indeed be read!
I hope your last sentence is a true forecast.
Yes and thanks…. Will do.
Well done, KD!
All the hand wringing about why??? One word - Murdoch
He and his ilk are a blight on humanity.
Single-handedly the most influential arsehole in America. And he has lots of competition; however the biggest megaphone
But don’t forget Reagan, 2 Bushes, and Trump. Murdoch is the Trumpest. (I borrowed that from one of you, but did ask permission.)
Sadly, too many Americans want a celebrity president. I heard someone on a podcast posit, I think it was Jen Rubin, that journalists tend to respect those they view as like themselves & that is one reason they constantly harp on Biden’s age. It is easier than reporting on actual issues.
I have started saying to people when I hear that Biden is "too old" with, I point out that many great people were and are still vibrant at older ages and then I ask them, "Is that the only complaint you have about Biden? Because if that is the only thing you can come up with, it is a pretty shallow complaint". Then I tell them about some of the great things that he has done already. I'm not sure they are convinced but at least they shut up about his age.
Maybe, but Biden is only 3 years older than Trump and journalists don’t carp at Trump’s age. Somehow all those news articles about politicians’ advanced age all seem to focus on Democrats.
Democrats and Independents will support Biden/Harris. Polling reflects our youth oriented culture. There is nothing wrong with Joe’s ideas, people do wish they were coming from a younger version of him.
Because the results of investment take time. Biden took office in the middle of the pandemic, so getting the money out and the improvements visible has taken more time than it might have otherwise. People are horribly impatient, forgetting that returns on investment take time.
That short-term impatience, exacerbated by lack of effective short- and long-term memory and by knowledge and understanding of recent American (never mind world) history resulting from the disastrous dumbing-down of Americans through decades of defunding education, shows up all over the place in our culture today. It seems to me its most pernicious effects are shown in this inability to perceive the R-deficit -- D-repair -- R-deficit cycle that's been our lot since the 80s. A lot of people made a lot of money very quickly and very easily then, and like the result of the stock market boom and crash of the 1930s, people became very impatient at not being able to continue the daily (or at least short-term) grab. I see some parallels between the US in the 2020s and the US in the 1930s - the rise of American populists and dystopian fantasists such as trump and desauron, the appallingly-monickered "moms for liberty", the modern brown-shirted "proud boys" and so-called internet "influencers", bloggers and rwnj media taking the place of Lord Haw-Haw. All of which makes our existing problems worse and, oh look, creates new ones!
I get it, that people want stability, that tomorrow be reasonably predictably like today, just a bit better. Some of us understand that to have that we can't just keep putting bandaids on cancer, that to treat and cure it takes time, effort, money, cooperation by a lot of different people, and not a little pain and inconvenience. Others don't see these cancers at all so to them not even a bandaid is needed, while yet others think the ailments are nothing more than a minor boo-boo, and that a bandaid is just what the doctor ordered. Failure or refusal to see the actual problems prevents us from fixing them, and so they grow, and what might have taken small, affordable steps to repair and maintain become disastrous, deadly, sudden emergencies (train derailments? million-acre wildfires annually? highway overpass collapses?) requiring huge expenditures of human time and effort and money to address.
And so here we are once again, Ds trying to repair the damage done, predictably, by Rs. With sensible, well-placed and adequate investment! (Sorry for the long screed, but I'm worried and angry.)
GOPers get their news mostly from the like of Faux.
I mention some of the deficiencies in Bidenomics in this post:
https://heathercoxrichardson.substack.com/p/june-28-2023/comment/17893331
Are you tired of continuing to repeat the same post. Perhaps soon you will realize that no one is reading it.
I am communicating with Substack Inc regarding the disrptive acts by JS at our New-ro-the-Cumminity commenter from another Continent.
You'd think, wouldn't you? Yet our resident trolls never seem to tire of popping up from under their bridges! :P
Joe Biden is the right man for this time in our history. I love the fact that he takes on the Republicans by turning their jabs and scorn back on them--Bidenomics is like Dark Brandon--you dismissed me but I will use it to reveal the weakness behind the jabs.
Now what we need to see is who else can carry on the banner here. Joe is setting up a framework that can bridge and unite all of the factions in the Democratic Party. He has the political savvy to know that to beat the Republicans, whether its Trump or DeSantis or someone else, there has to be a single theme. In 2020 it was American Democray is at stake. In 2024 it is going to be about a return of the American Dream.
He has the political savvy, but will MSM give him the credit he deserves…
Or will Dems, or will some scurry off to worship RFKJr. Political insanity is not rare in America, sad to say.
I worry less and less about the MSM - especially TV. Younger voters gather their information and form their opinions quite differently than our generation. Gen Y and Z will represent 45% of potential voters next year. And most of them are on the correct side (hard to use the word "right" now) of most subjects. Diversity and Inclusion are in their DNA. And...they are wicked pissed off at the oligarchs who are burning up the Earth.
OK, I worry as well. RFK, Jr is a total nutcase and he is scary. But his funding is being revealed - I think that will blow it for most Dems. And I had optimistic coffee this morning :)
I just hope Gen Y and Z will vote!! They need to be engaged.
I'm pretty sure Gen Z will. They seem to be a very engaged contingent.
Maybe Texas is a different country, seems like it often, these days
I had a similar view of RFK Jr, too. Finally started watching and listening to him. Long interviews. Lots of them. Surprise! Shockingly sensible. He's got my vote.
If we don't stop that WAR... well, nothing else matters more to me.
President Biden's age? An asset! He's probably wiser now than he's ever been. (WHY is he so married to that WAR???)
Harris and then McCarthy in line behind him, though. Either of them becoming POTUS ... THAT terrifies me.
Which "WAR"?
The danger of his effort is real, and can help chump “just enough.” Repubs probably helping him all the way.
That's indeed the big question ... will MSM finally focus on the important improvements for many Americans, or will they continue to report each convoluted lie of tfg to 'make money'?
Money always wins would be my guess.
Indeed, always
Last point very well taken. Its forerunner, 1920’s H.L.Mencken, put it roughly the same way.
So let us all promise ourselves and each other to do everything in our power to help get out the vote. Cause coming here and complaining about the lamestream media is mostly a waste.
1. Write postcards to voters. There are several groups that do this. Postcarding has been proven to be quite influential in elections (think Wisconsin Supreme Court election last April). Google it. I work with Indivisible.
2. Volunteer to call or text potential voters. Scary? Hard? Yep, calling takes effort for me. But this is important and it is beyond terrifying to think about sliding back to a Republican president - no matter which candidate. So I work through my anxiety, do the training snd make the calls. Just do it!
3. If you have the means, donate money. I donate to my local candidates first (Senator Amy Klobuchar is up for reelection in 24. You can damn well bet I’m already supporting her reelection campaign). If I have enough, I donate to other campaigns. I’ve identified one House race - Lauren Boebert, and one Senate race - Kyrsten Synema to knock out and send money to the Democrats who are running against them. You all know why.
4. Read and learn the talking points of what Biden is doing that is working. The best source of have found is Simon Rosenberg’s Hopium newsletter here on Substack. It is excellent! Read it.
5. Letters to the editor are effective if you are fortunate to have a local newspaper. (I do). Its is much harder to get an LTE in say the New York Times but send them anyway. This is literally the only way you can attempt to influence the mainstream media. They are in the business of making money. Clickbait garbage headlines and stories will continue no matter how much we whine.
6. Support good media. ProPublica, the group dished on Clarence Thomas’s Supreme Court grift and corruption deserves our support (as of course does HCR!).
End of rant. 😎
Yes! Postcards and letters to encourage people to vote is the key. I got nasty bouts of carpal tunnel in 2020 and 2022, and know it will happen again in 2024. But so worth it. I can rest my wrists after the election. This is WAY too important to sit out.
My favorite rant and including more than I usually remember. Thank you, Sheila B!
Kyrsten Sinema will run as an Independent.
I know. I am supporting Ruben Gallego, the Democrat, but if Kari Lake runs, it will be a three way race and it may mean that Lake might win in a three way. Sinema is an outlier and needs to be defeated in my opinion. She doesn't even support voting rights or abortion rights, let alone protecting the climate - which she ran on and received a lot of support for from Dems. I will always do what is best for Democracy but I would like to see a much better Senator for AZ than Sinema.
Can you imagine Kari Lake in the Senate??
Ack!!! (oh HELL no!!)
I mention some of the deficiencies in Bidenomics in this post:
https://heathercoxrichardson.substack.com/p/june-28-2023/comment/17893331
How many times you going to repeat yourself??? It's annoying!
Perhaps you or others will recognize that I have mentioned important points that HCR has ignored.
Important to you, perhaps. You love to hear yourself speak, don't you? The rest of us aren't really interested. Go away.
You arrogantly presume to speak for the whole of HCR's forum.
You arrogantly presume that WE need to "recognize" that you have mentioned "important points." Feh.
If you're pontifications really are important, that fact will be self-evident and you have no need to tell us how important they are. Since you think you have to tell us they're important, my immediate reaction is to ignore them, and I"m guessing I speak for most of the people here as well. If not, they can weigh in.
JS, this Community, in my opinion is not your "forum" to disrupt, make attacks on a new Commenter or push Ads for your perceived benefit. In my opinion, you are engaging in a form of DNS recognizable to any Platform security or content mediation department. You are free to challenge my opinion or herald your importance at JAMS SF.
I have been Commenting on the developing general law on Platform abuse for weeks now. Many states are now offering civil & other remdies to users. But, in this Community, defined Authors, Readers & Substack Inc can be mediated at JAMS in SF.
I have informed several other by disrupters that JAMS has at least 3 very qualified Mediators available incluing 1 that has litigated Platform abuse before a SF jury. The Mediators are capable.
Caveat emptor.
Get over it John.
??
For your sake, I will re-post here:
While I have to applaud any opposition to trickle-down economics, I also think it is safe to say that Joe Biden is no FDR.
https://www.newyorker.com/podcast/politics-and-more/jill-lepore-on-why-biden-is-no-fdr
Franklin D. Roosevelt's economic policies revisited the "American System" economic policies of George Washington, James Monroe (for the most part), John Quincy Adams, Henry Clay and Abraham Lincoln. Lincoln summed up the American System as "internal improvements [infrastructure], a protective tariff, and a national bank."
Biden has made some moves toward repairing bridges, etc., but where is his vision for high-speed trains?
Franklin D. Roosevelt, while he made no attempt to nationalize the semi-private Federal Reserve system, did "muzzle" the Fed, keeping interest rates low to channel long-term credit toward productive industries, which is part of the function of a national bank.
Biden, so far, has made no effort to undo the "free trade" tyranny that shackles the economy and which has done so much to move our industrial base overseas while simultaneously undermining our tax base.
Biden also has no proposed solution for the toxifying dollar, as the rest of the world moves toward non-dollar international trade, accelerated by Biden's diabolical and wasteful support of Ukraine's corrupt, oppressive, undemocratic right-wing thug regime.
There is also the overhanging threat of the bloated, putrid derivatives pyramid, which requires, as a necessary but insufficient first step, reinstating the Roosevelt-era "Glass-Steagall" firewall between investment banking and commercial banking.
Thank you, Heather. With each letter you write, and reading the wonderful comments, I learn more and more about American History. I have come to appreciate TR and Lincoln and FDR, too, in new and exciting ways. I love how you linked Biden’s speech to the truth about “trickle down” economics, a lie from the beginning. That is why I always abhorred Reagan, an evil man in my book. News about Bidenomics is good news for We the People and we are already seeing results in two “short” years! We must focus on keeping the Senate, expanding the number of Democratic senators and getting the House back. Biden’s election goes without saying. I saw something about needing 23 senators in 2024 to keep our majority. So much work to do, so little time!
Morning, Elisabeth!
I saw Biden's "hand" in this article about Texas from The Guardian yesterday.
"Solar helps Texas carry energy load as heatwave puts power grid to test. State has managed to avoid rolling blackouts amid three-digit temperatures thanks to its supply of solar power, experts say."
https://www.theguardian.com/us-news/2023/jun/28/texas-heatwave-power-grid-solar-energy
This, while the governor and other state/regional pols attempted to blame previous grid failures on renewable, "unreliable" energy sources. There's a market reality that doesn't listen to them; that nvestment flows towards more efficient, lower cost sources of energy; solar and wind have become less costly ways to generate energy. Energy storage is coming of age, growing exponentially. Balance of supply and demand is a growth business. Those who understand that don't care what the pols say.
Do voters know, so tired of the cretins running Texas.
Isn’t that GREAT! Thank you for the link, Lynell. I always appreciate your insights!
You won’t hear it from the Texas trio of fools…
Colin Allred looks like a good alternative to that nincompoop Cruz.
I am pissed that he is giving up his seat to go after Cruz. Beto should be enough proof that the game is rigged. RIGGED, Texas does it best
But where is Beto? Will he campaign for Allred (I hope)?
I trust him to support Dems across the board. Cruz needs to go, but the deck is stacked.
Hurray for Biden....Hurray for Chicago....Hurray for Heather!!!!
With everything his opponents try to use against him, Biden somehow turns it around - just as he embraced the originally mocking "Dark Brandon" meme, it's amusing to see you write:
"Biden has recently embraced the term “Bidenomics,” a term coined by his opponents who insist that their embrace of tax cuts is the only way to create a healthy economy. But Bidenomics is simply a new word for a time-honored American idea."
Thanks, Dr. Heather, for your clear-eyed LFAAs - I don't know how you do it but I am grateful that you do.
What a relief to hear a President call out the Trickledown theory. I did not think Biden would be a leader, but he certainly has continued to surprise me. When i first heard about Trickledown economics i had a sinking feeling for the survival of this country. It was 42 years ago that i gave birth to my child and i was so fearful of the future with this trickledown approach. I am amazed and full of hope that Biden has found his voice. He was just what our country needed to support a healthy society. I never understood how we could live with so much and see our fellow countrymen not have housing or food. The inequality is shameful. When i was in Sweden and saw their apartments are integrated with all levels of income. I hope Biden will be reelected as he certainly is a good leader for bringing out the best in our society.
You remind me that the draft was once the melting pot, the great equalizer. Time to get several versions going again. Volunteers (drafted) in Service to America. Two years, every body!
I mention some of the deficiencies in Bidenomics in this post:
https://heathercoxrichardson.substack.com/p/june-28-2023/comment/17893331
Is there anyone left who still insists that there is no real difference between the two major political parties?
Ralph Nader, is there something you want to say?
HCR’s letter today describes the stark difference in socio-economic terms, not mentioning the moral bankruptcy of the current Republican Party. Their steep slide from mere hypocrisy to complete degeneracy; the abandonment of even the appearance of public decency, has been frightening.
Biden’s Chicago speech, and recent SCOTUS decisions, give one a bright hope of yet another re-assertion of all that has been best about American democracy.
I am hopeful for others IF people re-elect President Biden. However, think Bidenomics is too late to help me - an older GenXer.
I’m 55 now and very pessimistic over my own future. My retirement plan is to pray that I get a fatal disease before I get to the point where I can’t work anymore. I went to college. I worked hard all my adult life. Yet today, I can barely afford the cheapest of apartments AND transportation to work, and certainly can never afford to retire.
President Biden was absolutely correct about trickle-down economics not working for most regular people.
My family *was* solid middle class.
My father’s White Anglo-Saxon Protestant parents worked hard, owned a home, and sent all their four children to college. Their children all did well enough to eventually own their own homes and raise families.
My mother’s parents were children of Italian Catholic immigrants. Her father worked extremely hard to support his mother and siblings, put his brothers through college, married during WWII, and he & my grandmother raised four children. My grandfather and a partner co-formed a cabinet-making company. He elevated his family to the middle class. He put his sons through college. They all owned homes, raised families, and sent their children to college. His daughter, my mother, got married to my father.
My father worked and my mother stayed home to raise four children. My parents couldn’t afford to send us to college. We all went though, but used loans.
I started my adult life when Reagan took office. I went to college (I took out loans). By the time I graduated, my grandfather’s small cabinet-making company got eaten up by Home Depot, as did so many other businesses to larger companies.
Many small businesses disappeared and corporations got bigger and bigger. Small groceries mostly disappeared in favor of Supermarkets. Telephone companies exploded - Bell, became Ma Bell, then Verizon and AT&T. Automobile companies got stronger and were protected by government during various financial issues but could afford to pay Lobbyists to help further their interests and to buy out innovative competition (eg no electric cars even though we had the technology).
Corporations got bigger as they stomped out their competition by absorbing or destroying them. All types of businesses followed this model - Drug stores, Music stores, Gas stations, Restaurants, Medical Test facilities (X-rays, MRI’s, etc), Tax Prep Corporations, etc. Even physicians had to form Medical Practice Groups in order to pay for medical insurance because the companies within the insurance industry grew into tremendous corporations.
All these big corporations basically destroyed most of their competitors and were free to drive up prices. Just as when gas and diesel prices went up causing businesses to impose fuel surcharges, big corporations who ‘cornered the market’ on products helped drive up prices in other businesses.
Regular people like me really got squeezed. We couldn’t afford the same things our parents could. Adding to this problem, wages/salaries stagnated because corporations put their profits into growing and giving profits to shareholders instead of their workers. They also made employees sign non-compete clauses to ensure their competition couldn’t benefit from the training they gave their employees by “stealing” them through promises of higher pay. So workers couldn’t leave as easily and weren’t getting raises.
This is where we’re at now and media is helping the elite & their corporations blame immigrants and “socialists” for our problems.
Unless President Biden can get corporations to immediately start increasing worker pay (maybe by tax incentives if companies prove they raised wages/salaries by certain percentages?), people like me are going to feel pessimistic and squeezed.
I really hope Biden is re-elected for the next generation’s sake and that we stay on this track.
Excellent! Thank you for your vivid observations. A generation + faced the Reagan trap and could find no way out. Biden brings us the policies and vision to give us hope.
Having “descended” from the middle class, and knowing history, I empathize and hope you will work for Democrats in ‘24 and be able to retire.
😘
Oh, wow, Heather, what an inspiring Letter tonight. With the end of every paragraph, I expected to read..."But wait, there's more!" And there was!
Everything grows from the roots. Thanks Professor HCR for your illustrating the truth of history.
The best book I have read on the economic history of The New Deal is Paul Krugman's "The Conscience of a Liberal" published in 2007. He describes how instituting minimum wages, protection of unions, and higher taxes on the wealthy, created a large middle class for the first time in the United States. Bidenonomics promises to ACTUALLY make America great again. Here is a link to the Wikipedia article on Krugman's book.
https://en.m.wikipedia.org/wiki/The_Conscience_of_a_Liberal
FDR attacked Hoover for excessive spending. Isn’t that interesting.
A bridge collapsed over a small river here in Memphis in 1980 and US Senator Jim Sasser Tn. got the GAO to investigate and report on the nation’s bridges.
The report was ominous but not much was done until now.
We are lucky that we have not been through more “infrastructure hell.”
A fine Biden speech built upon fine history. Thanks HCR.
....and a vivd history of Teddy Roosevelt's energetic activism, uniting 'government serving the interests of common people' with conservation of America's vast natural resources can be found in Timothy Egan's 2010 book ...The Big Burn: Teddy Roosevelt and the Fire that Saved America.