President Joe Biden - Kamala Harris Administration

#9,701
#9,701
evillawyer said:
A dollar injected into the economy is a dollar injected into the economy. Doesn't matter if that dollar is coming from government spending financed by debt or consumer spending financed by tax cuts. Fact is, a sh*t ton of money is being spent. That leads to economic growth, whether you like it or not. Her conclusion that Biden has nothing to do with the economic boom is laughable.
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Not true. A dollar injected into the economy is a redistributed dollar. It was not created through work being added into the economy via a product or service. As such, it is value neutral. Money is a marker of value and value is only created by energy being added to society, either physically or mentally. Government dollars can indeed finance such activity but they do not in and of themselves create value, especially if borrowed or simply printed. That creates inflation
 
#9,702
#9,702
evillawyer said:
A dollar injected into the economy is a dollar injected into the economy. Doesn't matter if that dollar is coming from government spending financed by debt or consumer spending financed by tax cuts. Fact is, a sh*t ton of money is being spent. That leads to economic growth, whether you like it or not. Her conclusion that Biden has nothing to do with the economic boom is laughable.
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by this logic you should grow your income by borrowing money
 
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#9,704
#9,704
OrangeTsar said:
Not true. A dollar injected into the economy is a redistributed dollar. It was not created through work being added into the economy via a product or service. As such, it is value neutral. Money is a marker of value and value is only created by energy being added to society, either physically or mentally. Government dollars can indeed finance such activity but they do not in and of themselves create value, especially if borrowed or simply printed. That creates inflation
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It's financed by debt, not redistribution. If I buy a Snickers bar with a dollar from my tax return or a dollar that was loaned to me, it's going to have the same impact on the economy, at least in the near term.
 
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#9,705
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#9,714
#9,714
evillawyer said:
It's financed by debt, not redistribution. If I buy a Snickers bar with a dollar from my tax return or a dollar that was loaned to me, it's going to have the same impact on the economy, at least in the near term.
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Correct, near term vs long term being where my concern comes in. It is the economic equivalent of a sugar rush. It is great until the inevitable crash afterwards
 
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#9,718
#9,718
volinbham said:
Biden's trillions haven't been spent yet (hell most of Trump's trillions haven't been spent yet) so they are not "in the economy".
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How much money has gone out to people in economic benefits during the pandemic? How many federal, state and local employees retained their jobs because of the Biden package? That's real money going into real people's pockets and then being transferred to business through standard, growth accretive business transactions.
 
#9,721
#9,721
volinbham said:
now you are changing the discussion.

Keyesian economics suggests government spending will stimulate economic growth. You claimed government spending IS economic growth
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Read closer love:

"Doesn't matter if that dollar is coming from government spending financed by debt or consumer spending financed by tax cuts. Fact is, a sh*t ton of money is being spent. That leads to economic growth, whether you like it or not."

I expressly said that government spending LEADS to economic growth, not that it IS economic growth.
 
#9,723
#9,723
evillawyer said:
How much money has gone out to people in economic benefits during the pandemic? How many federal, state and local employees retained their jobs because of the Biden package? That's real money going into real people's pockets and then being transferred to business through standard, growth accretive business transactions.
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much more went out and is still going out through Trump's packages.

still you are starting to see the problem with your original premise that the government dollar itself is growth. It is not until that dollar is spent on goods/services that it changes growth. Even then, it may merely be a substitute for other capital thus growth did not occur - just the manner of payment for a certain level of demand.
 
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#9,724
#9,724
evillawyer said:
Read closer love:

"Doesn't matter if that dollar is coming from government spending financed by debt or consumer spending financed by tax cuts. Fact is, a sh*t ton of money is being spent. That leads to economic growth, whether you like it or not."

I expressly said that government spending LEADS to economic growth, not that it IS economic growth.
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LMFAO a difference without distinction! 😂🤡
 
#9,725
#9,725
evillawyer said:
Read closer love:

"Doesn't matter if that dollar is coming from government spending financed by debt or consumer spending financed by tax cuts. Fact is, a sh*t ton of money is being spent. That leads to economic growth, whether you like it or not."

I expressly said that government spending LEADS to economic growth, not that it IS economic growth.
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these problems remain 1) most of the government money flooding the economy comes from prior allocations rather than Biden money and 2) government dollars don't necessarily lead to growth
 
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