The Biden Presidency: Repairing America.....again

@thirdperson

And more jobs as well!

But reducing reliance on those key imports is the big key here!

@BigGame90

 Exactly...but the few that only read articles and can't think beyond what they are having for lunch today are in that boat...there are a few in this forum and they slant more than an anviled forehead....

more jobs

less reliance

thanks to president biden  

Biden administration is proposing new rule requiring large banks to reduce overdraft fees to breakeven point.  This could potentially save poor customers billions of dollars.

@thirdperson

 That's it? Over draft fees? Proposing a new rule? Why stop at over draft fees? Why not tackle the highly overleverage problem almost all banks have? Gambling everything when rates were almost at 0%. Fed is stuck between a rock and a hard place. Raise rates, screw everyone but tame inflation. Lower rates, create more inflation. Keep rates the same, slowly crush everyone. 

Credit card delinquencies hit record highs in Q3. Just wait till Q4 numbers come out after the "gift giving" season. 

Large banks have much larger issues that will effect everyone, not just over draft fees. 

Obviously I don't expect a reply from third since this poster is clearly a left leaning bot whom posts no insight of their own. Just copies and pasts while citing no sources. Pretty sure that's plagiarism. 

@thirdperson

 Biden    Every little bit helps, especially when we all know for a FACT that the CHAOS party/CLOWN circus will automatically stand in the way of anything more substantial to help Americans.

The hill reveals that Biden administration is forgiving $4.9 billion in debt for 73,600 student borrowers.  44,000 are teachers, nurses, firefighters and others on Public service loan forgiveness program for 10 years.  The rest has been on income repayment program for 20 years.  So far, almost 3.7 million borrowers have been forgiven which is good for US economy.  Polls show majority of Americans support student loan forgiveness.

So, is all this money being forgiven good for our national debt ?  how many people " who don't owe" student debt actually support student loan forgiveness?  And if students show an inability/ unwillingness to pay back student debt, why is this federal  program allowed to continue  ? 

The following very disconcerting information is not how you repair America!

We have another shocking development happening inside the United States Army. Our once proud Army is at it's tiniest force in 80 years! The biggest drop is Caucasians. In 2018 there were 42,000 Caucasian recruits. In 2023 this number fell dramatically to only 25,000! Why aren't Caucasians in America lining up in huge numbers at recruiting offices from the Atlantic to the Pacific Oceans to enlist in the Unites States Army? I will let the woke libs inside the politics forum of Covers answer this very uncomfortable but very important question. And we'll fight with all our might! As the Army goes rolling along! 

@Rush51

 I can think of many many more government freebies that I would want gone before student loan forgiveness. If it were structured properly that plan has great opportunity for a large impact and to educate citizens. It is near impossible to think that the government has the means to run any program with high efficiency and I mean any program this included but why are many ticked off about subsidizing higher ed? Most people do not know that the inflation rate on higher ed is crazy, it always is more costly and our programs to make it better for students are not at all thorough or comprehensive. 

As Ive mentioned before, higher ed is too bloated, the general requirements are beyond pathetic, it should not be that a student spends two years of four doing generals and paying heavy costs for generals, its a time waste and a money hog. The un down here runs 12k a year plus fees and higher for their honors programs and that is without books or any living costs. So a four year student will run 50k plus unless you are working and pay as you go slower and then you take longer. How can we expect a young person be able to take 40-50-100-200-500k for a degree? I have a friend who had their son decide to attend John Hopkins and he is a sophomore there and their tuition costs will run over 250k, they sold their house and moved to where he is to make that possible for him.

Higher ed assistance is not a bad thing, but I would rather chop off 1-1.5 years of requirements and make subsidies for higher ed with public service or qualified public non-profit service based on a certain number of hours for a certain financial benefit.

I'd rather cut off foreign aid first and shore up other programs like corporate tax breaks than for student debt forgiveness to be lost.

US jobless claims fall to lowest level since late summer 2022

Biden announces $5 billion for 37 infrastructure projects in at least 12 states.  This long overdue investment repair and build bridges, highways, seaports and airports.  Unlike Trump and other presidents who promise but didn't deliver to fix US infrastructure that has been crumbling for decades.  Infrastructure is critical for the health and well being of the US.

  biden admin !!!

@wallstreetcappers

People are not ticked off about subsidizing higher education. People are pissed that debt gets wiped away when a lot of students sacrificed to repay their debts, with interest or a lot of people had to pass on college so they didn't receive higher education because they saw the debt problem and were responsible with their finances before taking on massive debts that weren't guaranteed to land them a high paying job.  The problem is, when student loans are federally backed and guaranteed, colleges and universities are going to jack costs up because the loans are guaranteed and that ultimately falls back on the students to repay. When inflation far outpaces wage increases, there will be major issues. It's not rocket science to figure that out. Same with inflation, when the fed prints trillions, prices on everything will go up. The real issue is the interest rates on these student loans and the willingness to hand out loans like candy in a school yard. If higher education is going to benefit the country and world as a whole, loans shouldn't be incentivized to make large profits and schools shouldn't get greedy with jacking costs through the roof. Why are students paying off loans from 20 years ago? That's the real problem. 

As for the general requirements in college, students don't need to take those classes at expensive schools and get in massive debts to get their general studies finished at a prestigious school. They can go to JuCo to take those classes and get them out of the way early on so they can focus on their majors after getting through the general classes. That would also give students ~2 years to dial in their major. Lets be real, most 18 year old's going into college have no clue what they want to do with the rest of their lives and shouldn't be making major decisions like declaring a major right out of high school and taking on massive loans only to change their major after their second year. 

Banks and schools got greedy and took advantage of young students while pushing high school students to attend college because that's how life is supposed to work. When you and your buddies are the ones benefiting from loans and high interest, you'll sell anything to push more loans. Once those loans go out, banks just use that paper as collateral to loan more money out and the cycle repeats until defaults wreck havoc or the money printer goes into overdrive which ultimately costs tax payers. 

Helping Americans!

(Reuters) - The Biden administration on Wednesday unveiled a proposal for solar energy projects on federal lands that identifies 22 million acres in 11 western states best suited for development.

The announcement is part of the Interior Department's push to site more renewable energy facilities on federal lands, a cornerstone of President Joe Biden's goal to decarbonize the U.S. electricity grid by 2035 and combat climate change.

The draft plan published on Wednesday would update an Obama-era policy that established special zones for solar projects in six states - Arizona, California, Colorado, Nevada, New Mexico and Utah.

Separately, Interior said it had taken steps toward approval of six solar projects and a transmission line in Nevada, California and Arizona. BLM has approved 47 clean energy projects, enough to power more than 3.5 million homes, during the Biden administration. 

  HEADLINES today . . .

(much thanks to @zeus4par for being first to report on this excellent news!)

  Jobs, jobs, jobs!
      Bidenomics!

Data released Friday by the Bureau of Labor Statistics
pegged US job growth at  353,000 jobs in January,
a stunning figure that doubled economists’ projections!

The unemployment rate held at 3.7% and
has now been under 4% for two full years!

 bidenomics !!!!!  

Strong job market is powering ‘virtuous cycle’ in the economy, White House adviser says

CNN -

The hot job market is creating a positive feedback loop
in the American economy, White House economist
Jared Bernstein said Friday.

During a Zoom with reporters, Bernstein argued that
the blow-out January jobs report “tells an unequivocal
story of a very strong jobs market.”

Bernstein, chair of the White House Council
of Economic Advisers, pointed to how unemployment
has remained below 4% for the 24th month in a row. 

Very sound...kudos...great post

   The strength in the job market is powering
a “virtuous cycle” in the economy, Bernstein said,
noting that consumer spending makes up 70% of GDP.

The thinking is that as long as consumers have jobs,
and paychecks are beating inflation, Americans can
keep shopping.
And that in turn should create new jobs, and growth!

President Joe Biden’s key economic plan
— known widely as Bidenomics —
is centered on the pillars of public investment,
empowering middle-class workers,  and
promoting business competition.

This approach is positioned in direct opposition
to the failed "trickle-down economic theory,"
which holds that cutting taxes for wealthy
individuals and corporations should result in
some benefits for others down the food chain.

Feb. 2 NEW REPORT
points to blockbuster U.S. job growth
as 2024 begins Biden's 4th year

Excerpt from MSNBC article...

For some additional context,
consider job growth by year over the past decade:

2017: 2.1 million
2018: 2.3 million
2019: 2.0 million
2020: - 9.3 million    under trump mis-management and negligence

2021: 7.3 million!   (Biden/Harris)
2022: 4.8 million!   (Biden/Harris)
2023: 3.0 million!   (Biden/Harris)

2024:  ???