David Doney @David_Charts
Armchair economist, sci-fi fan, impressed by good data viz. Deep-state operator. Node in the vast left wing conspiracy. Facts have a liberal bias. Joined March 2020-
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American workers are seeing wages grow faster than prices as our economy remains strong. President Biden will keep working to build an economy where the middle class has a fair shot and no one is left behind.
Howard Stern lists off some of President Biden’s accomplishments as they conclude their interview: I want to thank you for your compassion. We're lucky to have you in the Oval Office. I want to thank you for providing a calming influence and an organized administration post-COVID
Details on how the Infrastructure Act is working throughout America. Investing In America whitehouse.gov/invest/?utm_so… via @WhiteHouse
The economy is about 9% larger than pre-pandemic, adjusted for inflation (real GDP). GDP is a measure of production or output; the corresponding income measure (GDI) should be the same over time. Your spending on stuff I make is my income and vice-versa. fred.stlouisfed.org/series/GDPC1
Real disposable personal income per capita is roughly consistent with CBO's pre-pandemic forecast. Real consumption per capita is well above that forecast. Squaring the circle: the saving rate is low.
Justice Kagan today: “The framers did not put an immunity clause into the Constitution. They knew how to; there were immunity clauses in some state constitutions. They didn’t provide immunity to the president. And, you know — not so surprising — they were reacting against a…
Real personal income and disposable personal income—income after taxes and government benefits and adjusted for inflation—increased 0.2% in March. Over the last year, they increased by 2.3% and 1.4%, respectively. 12/
Core non-housing services prices grew 0.4% in March, consistent with the monthly pace over the prior three months. 7/
Today’s Personal Income report shows that headline PCE price index rose 0.3% in March, as expected. The core PCE price index—which excludes volatile food and energy components—also rose by 0.3%, also at expectations. 1/
Continuing unemployment claims represent those receiving unemployment benefits after initial claim. The % share relative to the labor force was the lowest ever in 2022 under Biden and was 95th percentile (lower than 95% of historical observations) in March 2024.
@JohnJHarwood Appreciate that @politico has the guts to put this on record, because WE all see this in the NYT headlines and story angles. "...Times falling short in a make-or-break moment for American democracy...often blurring the asymmetries..." [between President Biden & Trump]
GDP growth came in a bit below expectations at a 1.6% annual rate in the first quarter. But much of the slowdown was in non-inertial items like inventories (-0.35pp) and net exports (-0.86pp). The better signal of final sales to private domestic purchasers was 3.1%.
Real GDP growth came in at 1.6% in Q1, softer than expected. But that appears to be driven by weakness in volatile components, especially net exports. Private domestic final purchases--"core GDP" made up of consumption & fixed investment--grew 3.1%, a very strong print.
Despite inflation, pandemic & political discord, America's share of world GDP is highest since 2006. Credit productivity, growth, innovation, but also huge, unending deficits. It's pushing up $, interest rates, threatening capital flight from EMs and protectionism vs China.…
New Biden administration overtime rule increases pay for millions of workers upi.com/4951713962686 via @UPI
Over the past four quarters, real GDP grew 3.0%. This is considerably faster than what private forecasters anticipated a year ago, when the Blue Chip consensus forecasted 0.2% real GDP growth over this period. 4/
Real GDP increased a moderate 1.6% in Q1. Chart shows components. Story: Big increase in imports, which subtracts from GDP; people buying foreign stuff. Services +1.8pp, US Goods -0.1pp = 1.7pp consumer spending. Housing, Businesses OK. Govt. flat. bea.gov/sites/default/…
If I were a member of the national political media & I found out that a majority of Americans were ignorant about some of the most significant events & accomplishments of the last several years, I would feel bad & set out to remedy that ignorance. thehill.com/policy/energy-…
Rachel Bitecofer 🗽.. @RachelBitecofer
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3K Followers 647 Following Author of Listening to Prozac, Ordinarily Well, Against Depression, &tc. Latest: **Death of the Great Man: A Novel** @peterdkramer.bsky.social https://t.co/SldgmIXfwaYet some keep repeating the myth that today’s growth is only replacing the jobs / productivity lost during COVID
The economy is about 9% larger than pre-pandemic, adjusted for inflation (real GDP). GDP is a measure of production or output; the corresponding income measure (GDI) should be the same over time. Your spending on stuff I make is my income and vice-versa. fred.stlouisfed.org/series/GDPC1
Howard Stern: I want to thank you for your compassion. We're lucky to have you in the Oval Office and serving as the father of the country. I want to thank you for providing a calming influence and an organized administration post-COVID President Biden: The American people…
Happy birthday Melania. 🥳🎂🎈
. Melania is trending . . . Ok, she wasn't a real First Lady... ... but there was this billboard ! "Happy Birthday Melania" 💙 😎 💙
@WhiteHouse President Biden: We have the strongest economy in the world. Unemployment hasn't been this low for 50 years. We're exporting American products and creating jobs.
The actions alleged in this indictment clearly fall well outside that scope. Therefore presidential immunity, to the extent it exists, is not an issue in this case. This trial can proceed.” Hey, a guy can dream. 2/end
Biden doing a live interview with Howard Stern the day after the New York Times put out a bizarre screed attempting to justify its stream of negative stories about Biden because he won’t do an interview with them is the America I want to live in.
@davidmackau The have a whole page where you can explore, search, and download the data whitehouse.gov/invest/
🧵 Ginni Thomas is still getting away with her J6 coup plotting. Clarence Thomas is still ruling on cases involving his insurrectionist wife. Steve Bannon is still out of jail and doing a podcast.
Incredible pitch from Stancil secure.actblue.com/donate/cancels…
He really is ghastly, and not much different from the evangelicals who think Trump is somehow God's instrument.
Barr: I think his whole administration is a disaster for the country Collins: Is worse than subverting the peaceful transfer of power? Barr: Did he succeed?
The NYT coverage of Fed policy is just lazy journalism. Simply parroting back the Fed’s worldview—that high rates are needed to tame inflation—and citing one banking economist to corroborate this orthodox view. A real disservice to its readers.
Do you want a president who serves his country or a president who serves himself?
Listened to @JoeBiden’s conversation with @HowardStern. *Total* softball interview, mostly about his personal life—but lovely, sweet, human, and Biden was terrific, consistently clear, detailed, charming, moving. Which was the point. SO much better than his opponent could do. 1/2
And 15 minutes on election, Trump, etc. Biden: Gotta be careful what I say about the Supreme Court. Stern: Why!? They’re nuts! And Stern on debating Trump: “Just stand there & say over & over, ‘Can you find me 11,000 votes?’ You don’t get to run if you fixed an election!” 2/2
Wow, according to this, it seems that Trump floated executing people on multiple occasions while President