More Good News For The U.S. Economy, The Nation and The People.

 The Commerce Department reported that the third quarter GDP ending 9/30/22 expanded at an annual rate of 2.6%.  It followed on the heels of a negative first two quarters.  The GDP expansion was another blow to the doom and gloom GOP and their supporters who were predicting another negative quarter.

The Department also reported retail sales for September were up 0.6%.  It was a continuation of the good news concerning the federal budget that ended fiscal year on Sept. 30.  That budget recorded a 50% reduction in the federal deficit from the previous fiscal year and federal spending decreased 8% from the previous fiscal year.  The good economic news disappointed the GOP negative voices and their enablers who had predicted an economic recession before the end of 2022.  They are now saying it will take place sometime before the end of 2023.

The expansion of the GDP prompted   other negative pundits to predict that the Feds may hold back in the next round of interest rate hikes.  Those are the same pundits who urged the Feds to raise interest rates high and fast which they know would trigger an economic recession with the loss of jobs and an increase in unemployment.  But they don't care, they just want to see the President fail.

So, the economy continues to work, create jobs, lower unemployment and the consumer continues to spend despite inflation.  Maybe they remember that inflation in 1980 was 13.5% and 10.3% in 1981 and that from 1979 thru 1982 inflation averaged 10.32% per year.  And no one should forget that the average 30 year home mortgage rate from 1981 thru 1983 averaged 15.27%.  Yes, you read those numbers correctly.  

The negative voices want the country to fail so bad they can taste it.  They lack the character and courage to face the facts that the economy is working, despite their lies and misinformation and that it is a democratic administration who once again reversed the economic disaster of a previous republican administration.

And that really says it all.

This commentary written by Joe Lorio

Federal Spending and Federal Deficits Are Down Once Again Under A Democratic Administration. And It's Another Huge First For Politidose.

The U.S. Treasury Department reported that federal spending (outlays) for fiscal year ending 9/30/22 was $6.27 trillion, down $530 billion from the previous fiscal years (Trump's last fiscal year) federal spending of $6.8 trillion, an 8% reduction in fiscal spending.  The department also noted that the federal deficit was $1.38 trillion, down $1.4 trillion from the previous federal deficit of $2.78 trillion or 50% lower.  

Year to year federal spending (outlays) has been down 4 times in the last 12 years, and all by democratic administrations.  It was down in fiscal years 2010, 2012 and 2013 under President Obama's administration and now in 2022 under President Biden's administration.  The last time year to year federal spending was down by a Republican administration was in 1955 by the Eisenhower administration, 67 years ago.  It is also worthwhile noting that federal spending in fiscal 2022 was down also from Trump's 3rd fiscal year that ended 9/30/20 when  federal spending came in at $6.5 trillion.

The readers of Politidose commentary knew it would all take place because of the democratic party's precedent on fiscal matters that go back too many years to count.  And Politidose commentary in December 2020 before Biden took office and on January 23, 2021 soon after he took office predicted how President Joe Biden would reverse the fiscal disaster of the Trump/GOP administration.

Trump and the GOP's fiscal deficit in their third fiscal year ending in 2020 was a record $3.13 trillion and broke the previous one year fiscal record set by former GOP President George W. Bush when the deficit came in at $1.4 trillion in his fiscal 2009 federal budget.  So, as of this writing, Trump and Bush 43 hold the record for the highest single year fiscal year deficit.

The Treasury Department also announced that federal revenues for fiscal 2022 were $4.896 trillion, a record due to the workforce having jobs and spending money and the tax increases to those who have not been paying their fair share.  

Once again it is a democratic administration that is reversing the previous GOP's fiscal disaster despite the lies and misinformation of the GOP, it's supporters and the media who ae willing to run with the GOP talking points of the democrats being the big spenders crumbles with the facts.  Those are the same voices who started the big lie about record spending under the Biden administration the day they took office.

Politidose commentary has been there for the past 9 years with the true story and the facts how democratic administrations are best at governing and who have been the most fiscal responsible party.  So, stay tuned to Politidose, for your daily dose of political commentary and tune out the negative voices and news media and the GOP's lies and misinformation.

This commentary written by Joe Lorio   

Who Ever Thought It Would Take Place In America?

 The U.S. Economy is strong and has been for the past 20 months according to the economic data.  Job creation has been the best (over 10 million jobs) in any 20 month period, the unemployment rate has fallen from 6.3% when Biden took office to 3.5% in September 2022, wages increased 5.9% in 2021 and are increasing 5% so far this year.  Consumers are still spending despite inflation and driving the economy. (Consumer spending represents 70% of the economy.)  Unemployment is at a historically low rate.  Inflation will probably run 8% for 2022, a far cry from 11.2% in 1979,13.5% in 1980 and 10.3% in 1981.  The President's infrastructure and inflation reduction legislation will start to kick in and continue to move the economy forward, create more jobs and lower unemployment even more.  American manufacturing has announced plans to increase their manufacturing footprint domestically.  The positive news on the economy goes on and on.

Yet, all we hear from the GOP and their supporters are doom and gloom every day.  And the media is willing to wage its 24/7 news cycle to repeat those negative voices.  For the past 7 months the negative voices of recession said it would take place before the end of 2022.  Now, they say some time in 2023.  They are predicting millions of jobs being lost and higher unemployment,  A worldwide recession with $200 barrel of oil.  They talk about today's inflation being the worst in the last 40 years but during the inflation of the 1980's unemployment stood at over 10% for 10 straight months from Sept. 82 to June 83, the highest unemployment in the past 70 years.  But the negative voices continue to take up the media's time with their doom and gloom wishes for the economy.  Every month they are still predicting job creation to be a disaster and every month they are wrong, but the media still carry their negative voices.

The media has chosen sides and chose to ignore the good economic news for the country and its people for the past 20 months and instead enabled the negative voices by publishing their false statements 24/7 and flooding the news cycle with doom and gloom.  By their negative voices who just want to see the President and the country fail.  The media has failed the people and the country at a time when truth, facts and democracy are under attack by the negative voices.

This commentary written by Joe Lorio

 

Journalist Dana Milbank Exposes The GOP's Fear and Lies Campaign About Crime in America. And, It's Another First For Politidose.

 In a New Orleans Advocate commentary dated 10/18 titled, "It's Just Murder Living In A Red State" Milbank presents the facts how violent crime and murder take place more in GOP led red states then democratic led states contrary to the lies and fears being spread by the GOP and it's supporters.  And that contrary to the lies, violent crimes is generally worse in republican run states.  

And if Mr. Milbank's article sounds familiar, it's because you read it here first in several past "Politidose" commentary that goes back to last year.  It was also "Politidose" past commentaries that exposed the GOP lies about the economy, the national debt, job creation and federal spending.  Dana Milbank is one of the nation's top journalists for reporting the facts and a credit to news reporting.  Too many people in the media are willing to always run with the lying talking points of the GOP and it's supporters and fail to report the facts or correct the lying talking points.

The Republican party is well known for using personal attacks, lies and misinformation as party policy because they have no real policy to govern with and therefore no accomplishments to campaign and run on.  They also have many enablers in the media who act as their ditto heads.  The country and its people deserve the facts and Dana Milbank delivered with his timely commentary on violent crime in America in the red states.

This commentary written by Joe Lorio

The Economy, Job Creation and The Unemployment Rate for September 2022.

The U.S. Labor Department reported the economy added 263,000 jobs in September and that the unemployment rate came in at 3.5%. it was 3.7% in August.  It was the 20th straight month of positive job growth and unemployment matched the 3.5% low of the last 50 years.  Wages were up 5% for the year and 0.3% from August.

The negative noise machine once again got it wrong in predicting the job numbers would be disappointing for September.  They are also still calling for an economic recession that could take place if the Feds act irresponsible in raising interest rates.  The noise machine would like to see the President and the economy fail so bad they will stay in their negative mood of mis-information and lies into the future.  

The last time the unemployment rate was under 3.5% was in January 1969 when it hit 3.4%.  Job creation on President Biden's watch has been robust in his first 20 full months in office in keeping with the precedent set by past democratic administrations concerning job creation.  Job seekers are finding jobs and they have money to spend to keep the economy moving forward despite inflation.

The negative noise machine lacks the character to say anything positive about the economy, job creation, lower unemployment and how wrong they have been in preaching doom and gloom.  They are counting on lies and misinformation to sway the American voters because they have no positive record to run on.  

President Biden and the democratic party represent the few sane and steady voices in Washington on Democracy and the economy while the negative noise machine continue to live at the bottom of the barrel.  And once again it is a democratic administration that has reversed the job losses, higher unemployment and a failed economy of the previous GOP administration.

This commentary written by Joe Lorio