How do you think President Biden is handling the economic crisis?

29 comments

  1. As well as any president. Presidents have a lot less control over large scale macroeconomics than people think.

  2. It’s a mixed bag because it’s deceptive. On one hand the job market is growing, unemployment is falling, and wages are rising. On the other, gas prices and inflation are still high.

  3. All I know is that I remember his campaign saying that he would get America back to
    normal and that things would be much better than they were under Trump and now I’m paying $5 for gas

  4. Poorly and I’m not sure if that’s good or bad.

    He’s handled inflation horrendously, obviously, but fortunately he proved just as inept as getting his domestic agenda through the Senate and that agenda could basically be summed up in three words: spend, spend, and spend. It’s hard to imagine what the inflationary numbers would look like today if Joe Machin and Kyrsten Sinema didn’t put country over party.

  5. Instead of employment/unemployment #. We need to track jobs not filled but open

  7. Biden is so bad only Trump could make him look like a decent president and even that is becoming doubtful. With this much failure in only 16 months, it’s hard to imagine what’s left for them to do badly.

  8. “Presidents are similar to God – a lot of power, but too much blame in bad times and too much credit in good times”

  9. I voted for him but I’m not impressed with the economy and the way he has been handling it.

    I don’t understand why the fed waited so long to raise rates (not that this is a Biden thing.)

    I’ll still vote for him in a theoretical rematch against Trump but will hold my nose and close my eyes while I’m doing it.

  10. The problems in the economy are being overstated. Companies are still selling goods and services. People are still able to work, perhaps even at higher wages than a year ago. Companies are still profitable. Interest rates are still very reasonable by historic standards.

    Disruption creates new opportunities and creates incentives for productive changes. The economy is being forced to adapt to supply chain issues (primarily related to the aggressive quarantines shutting factories in Asia and to Russia’s war against Ukraine). But this presents opportunities for creating factories and jobs in the US.

    I’ve seen many economic cycles in my years. Sure, it isn’t as profitable today as it was six months ago, but it is still good compared to much of the past 50 years. And I think the opportunities for transformation today are only surpassed be the first five years of the “dot-com” boom.

  11. I think of the few executive actions he has undertaken and the things he does have control over, he hasn’t done very much if any good things and in fact has worsened rising costs.

  12. Blaming biden for this economy is a brain dead take, and this is coming from someone that thinks biden sucks. Especially considering the legislature has basically abdicated its duty, what is he supposed to do?

  13. I support it. I think Ukraine-Russia is the bigger issue economically than Biden policies.

  14. I don’t often vote for dems but I’ll admit I was glad Biden won and was ready to move on from the Trump clown show. Unfortunately in my perception Biden-Harris hasn’t done anything to get America in a better place. In fact I think they’ve made it worse and they appear to be significantly weaker and less qualified and competent across the board. Biden maybe was decent at one time but he’s way past his prime. I don’t know how solid democrats can watch him and not cringe every time he speaks.

    Outdoing the trump admin was a tall task but we found our guy.

  16. He has done alright, but definitely couldve done better. Some of the things that could help this nation keep getting shot down in Congress. President doesn’t hold that much control over the economy and I’m not sure what Biden could do differently. Trump had several economic policies that were going to hurt us in the long run without intervention. However, covid managed to speed everything up before something could’ve been done. Inflation was also starting to show under Trump even prepandimic. Right now though what’s really driving inflation is supply chain issues and gas prices, which are also being impacted by supply chain issues.

  17. Taming inflation and continuing growth are things that are in opposition. Tame inflation & growth slows. Push growth and inflation grows.

    A labor shortage, supply chain issues, and a war between international oil & grain providers is not something that can be easily fixed.

    We just have to ride it out and keep the economy from sinking into recession, which is what Biden is mostly doing through spending.

  18. First, to be clear, I believe US Presidents–with respect to the economy–are like the so-called “corn kings” of old: they’re worshipped when the corn harvest comes in, they’re vilified and even executed when the corn harvest is poor, despite having not a damned thing to do with the harvest.

    So even if President Biden was doing an incredibly smash-up job–he is not going to move the needle very much. That’s because the economic problems are *global* problems–not just local problems. The fact that small business sentiment is collapsing in the United States, for example, has far more to do with COVID shutdowns in Shanghai (where a lot of goods sold by small businesses around the world are made) than it has to do with Democratic Party tax policies.

    And China is entirely outside President Biden’s control.

    —-

    That said, I don’t think the current administration has been all that helpful. Between closing down a number of land auctions for oil production and his allies causing banks to discourage domestic oil production (which is causing shale producers to return their profits to shareholders rather than invest it in increased production), we aren’t exactly trying to move the needle on energy production to close the gap caused by Russia’s war in Ukraine.

    And many in the Democratic Party seem more interested in using the current disaster to promote their own favored political agenda rather than try to actually help the economy.

    Worse: this is a *supply side* economic crisis. Inflation is caused when there is too much money chasing too few goods–and right now the problem is too few goods caused by shutting down manufacturing plants, not because of a monetary crisis of too much money in circulation. (That is, prices are going up because of shortages, not because of structural monetary imbalances.)

    And this *supply side* economic crisis is relatively unique in history: we’ve never seen anything like this, as a lot of the problems were triggered by the government response to COVID-19.

    The problem with Democrats, however, is that for the past 40 years, they have demonized the supply side of the economy–considering anything that helps manufacturers as “trickle down”, “helping the rich get richer” “fat-cat giveaways.”

    Which, I believe, leaves Democrats in general politically ill-equipped to deal with things like the Los Angeles port crisis with too many ships unable to unload their products at the Port of Los Angeles. (The sad part is that a blowhard like Trump may have done more good there, by demanding, for example, height restrictions on subsidiary storage facilities–height restrictions not put in place for safety, but because the neighbors don’t like looking at unsightly shipping containers stacked six high–be waved temporarily. Or by demanding 24-hour truck transport early on, rather than waiting until the ports were so jammed it was too late to untangle the Gordian knot.)

    —-

    But again, *these are headwinds and tailwinds*–and even if Biden suddenly transmuted into Trump and flew out to Los Angeles and fixed the entire issue by waving a magic wand and even by driving a few trucks out of the ports, and even if Biden went to South Dakota and personally helped to drill a bunch of new oil wells while doing his best to emulate Sarah Palin’s “drill, baby, drill!,” and even if the Democrats suddenly found the Supply Side Religion, it would not have really moved the needle all that much overall.

    That is, we’d be more or less where we are, and things may be perhaps 0.01% better than they are. Not enough, in other words, to make any damned difference.

  19. I hate discussing Presidents and the economy, because the vast majority of people pretend like prior Presidents have very little effect, and that the Congress has never existed at all. Not to mention the whole “entire private sector” thing that tends to have some input into how the economy goes.

  20. I am not really feeling much of an economic crisis. Inflation is bad but it doesn’t seem to be at crisis level yet. The job market is booming. The stock market declining does not make for a crisis. There are a bunch of overlapping economic problems that our entire government, including state government, is at least partly responsible for addressing. Joe Biden can’t personally flip a switch and lower house prices.

  21. Terrible…he still wants to make it about class warfare and put groups of people against the other as causes and fixes of the issue.

  22. As best as someone hamstrung by the senate possibly can. Ironically, this is whats a republican economy looks like because they haven’t allowed any budget to pass.

  23. As well as every old-bag president we’ve had. I just wish Republicans would stop screaming at us going “SEE! HE’S NOT JESUS LIKE YOU THOUGHT,” when everyone already knew he wasn’t that great to begin with.

    Overall, work situations are getting better (unemployment and wages are increasing), but the war and foreign affairs are spiking the inflation rate. It’s hardly Biden’s soul fault though. People give way too much hypothetical power to our presidents in political rhetoric.

  24. Well, I don’t agree that there *is* an “economic crisis”. Inflation is too high but employment numbers are good. There will probably be a mild recession but that isn’t a crisis.

  25. For the most part poorly. Gas prices and food prices are still at an incredible inflation rate. Biden specifically took action to reduce oil production domestically and continues to take such actions worsening the issue. Biden’s Administration did things like shut down the Abbott baby food plant without first securing supply replacements and we are weeks if not months from it being being back to full capacity.

    Basically there are a lot of small steps and a few large ones that he has taken that is causing far more harm than good for the US economy.

  26. I hate this question because it presupposes that the president has a massive sphere of influence, free from outside forces, and that they have vast control by just waving a wand or issuing an executive order or something.

    The *world* economy is shifting as we emerge from the depths of a pandemic and into a huge land war in Europe.

    The American President cannot sway “the economy” one direction or another the way your question suggests they can. It’s a dumb argument to have.

  27. It’s not his control.

    The combination of Companies price gouging, Ukraine war, etc…

    President Biden also release oil reserve and gas didn’t come down (greedy fucking oil companies).

    Also demography problems such as baby boomer generations retiring (either earlier from covid19 or soon because retirement age), will cause inflation to go up. The generation replacing baby boomer aren’t big enough. The upside is that salary will go up since there are less workers.

    I hear we got until 2040 or some shit when we kinda makeup this gap of worker shortage.

    There’s also talk about China’s demography problem will make cheap stuff from China be expensive too this is supposedly within 10 years from now.

    It’s gonna be an interesting time (throw in global warmingn inn there).

    —

    Sorry I neglect the elephant in the room covid19.

    Covid19 fucked everything up. Supply chain, etc..

    Hell China is lockingn down cities cause of covid19. They’re too proud to buy vaccines from the West.

    So we really fuck. I am pretty sure iphone 14 is gonna be out of stock often.

  29. About as well as any other president who got nothing done- because none of them ever do.

    They simultaneously have too much power and yet not enough to actually force significant changes on their own.

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