Trump

adav your link broke. Originally Posted by dilbert firestorm

Try this.

https://www.washingtonpost.com/polit...ma-economy/?no

So it took Obama 8 years to lower unemployment by about 50% from his starting point and yet Trump accomplished a 25% reduction in just about 2 years.

Thanks again Trump. Originally Posted by eccielover

Obama came into office with a recession and banks going bankrupt. When Trump came into office the banks were stable and the recession over.

Try this.

https://www.washingtonpost.com/polit...ma-economy/?no Originally Posted by adav8s28

Good article, you are already 2 Pinocchios in the hole with your outrageous credit of Obama as savior and messiah of unemployment and the economy.

I've repeatedly stated that even the anemic economic growth didn't really start until Pelosi and the Dems were Shellacked in 2010 and Obama was forced into the sequester returning some semblance of financial responsibility to the Federal Government.

Historically, Obama is going to be deemed a train wreck compared to the Trump years.

Obama came into office with a recession and banks going bankrupt. When Trump came into office the banks were stable and the recession over. Originally Posted by adav8s28

So now the excuse fest starts when the lies of Obama's great accomplishments are exposed and Trump continues to move the economy forward at paces Obama only thought a magic wand could accomplish. It's tough to defend Obama these days. I understand that must be rough on some of you.

Good article, you are already 2 Pinocchios in the
Originally Posted by eccielover

You must have read a different article. It's Trump who got the 2 Pinocchios.

Jobs

Trump regularly (and incorrectly) brags he’s added 4 million jobs since taking office. Regular readers may remember we gave the president Two Pinocchios for claiming that he created 1 million jobs about six months into his term.


According to the Bureau of Labor Statistics, the U.S. economy added 2,188,000 jobs in 2017 — Trump’s first year in office. So far, it has added 1,306,000 jobs in 2018. But the economy added more jobs in every year of Obama’s second term than it did in Trump’s first year. This holds true when examining the average number of jobs added per month. (We are counting average monthly jobs created from February to January because the January data is collected the week of Jan. 12, before a president takes the oath of office on Jan. 20.)

You must have read a different article.
Originally Posted by adav8s28

Nope same article. The WAPO was very clear that

We’ve said before that anyone who gives sole credit to a president for economic gains receives an automatic Two Pinocchios

I'm assuming that would apply to any Obama sycophant who would claim Obama as Savior and Messiah of the economy during his tenure of anemic economic growth.

But the WAPO did get it right and at least admit that all the gloom and doom projections of his election were false.

Trump, however, has exceeded expectations on jobs and economic growth that were in place at the start of 2017

I bet they almost choked getting that out.

Jobs

According to the Bureau of Labor Statistics, .... Originally Posted by adav8s28

You really need to analyze the fundamentals behind the BLS stats.

The ClintonS did the same bullshit with BLS as Gore was launching his "campaign" .... in fact in October of 2000 ... the BLS reported the SAME stats from September for October 2000 ... no changes. The AFL-CIO screamed bloody murder about the "cooked books," and posted there own STATS. Even after the election (December 2000) Bill Clinton was running around with his hair on fair screaming about the newly elected administration stating on talk shows that the first thing they had to work on was the economic crisis that began in early 2000.

Clinton was using the "lie" word frequently. By mid-2001 it was generally accepted among economists with integrity that the economic downturn began around March-April 2000 ... contrary to the Clinton-Gore bullshit.

When you do, if you ever do, analyze the stats look at the footnotes. Those who are intimately familiar with the "policies" of major employers in this country discovered that "a job" was counted as "a job" so long as the employee worked 30 hours, which qualified them for health insurance, but reduced their income by 25% and some folks had to work two part-time jobs of 20 hours each to make ends meet, which the Obaminable BLS counted as TWO JOBS!

Quit drinking the cool-aid and Obaminable's snake oil. Embrace The Trump Nectar of outstanding economic growth!

But the WAPO did get it right and at least admit that all the gloom and doom projections of his election were false.



I bet they almost choked getting that out. Originally Posted by eccielover

ECC, you left out half of the paragraph in your quote. Did you intend to do that or was that an accident? Here is the full paragraph that you were quoting from.

Still, Trump has beaten the expectations set by the Obama administration, which at the start of 2017 predicted growth of 2.4 percent in 2017 (fourth quarter to fourth quarter) and 2.3 percent in 2018. The big difference is Trump’s tax cuts and the huge spending bill he signed, which economists estimate added almost 1 percent in short-term GDP growth. Most forecasters did not raise long-run growth projection after passage of the tax cut; falling unemployment rates make it even more difficult to sustain economic growth at the current level.

So, cutting the corporate tax rate to 20%, gets you 1 percent short-term GDP growth. Trump is borrowing billions from China to pay for these tax cuts that are being used mostly for stock buy backs. The recession was over before Trump came into office.

Quit drinking the. Embrace The Trump Nectar of outstanding economic growth! Originally Posted by LexusLover

From the link below.

GDP growth for Obama in 2014 - 2.5% 2015 - 2.9%

GDP growth for Trump in 2017 - 2.2% 2018 - 2.9%


Those are the facts. Trump has not hit 3%. In 2015 and 2018 Obama and Trump had the same GDP growth rates. LL come back to reality.

https://www.thebalance.com/us-gdp-by-year-3305543

From the link below.

GDP growth for Obama in 2014 - 2.5% 2015 - 2.9%

GDP growth for Trump in 2017 - 2.2% 2018 - 2.9%


Those are the facts. Trump has not hit 3%. In 2015 and 2018 Obama and Trump had the same GDP growth rates. LL come back to reality.

https://www.thebalance.com/us-gdp-by-year-3305543 Originally Posted by adav8s28

The Bureau of Economic Analysis (BEA) won't issue its final 2018 GDP growth number until late July. Such revisions tend to be upward, so it's very possible Trump did hit 3% last year.

Funny how you left out Obama's last year of 2016, when growth slowed to only 1.6%.

The trajectory under Trump looks much improved since then. The economy in this year's Q1 grew at twice that pace, i.e. an annual rate of 3.2%.

Here's how the WSJ unpacked the Q1 numbers:


The Tide Keeps Rising

The Trump policy mix continues to pay economic dividends.

By The Editorial Board
April 26, 2019 6:52 p.m. ET

With the comeback in financial markets this year, we probably should have seen it coming. But the headline rebound in first quarter growth to 3.2% reported Friday is still a pleasant surprise that shows again that the U.S. economy is remarkably resilient when government doesn’t get in the way.

The Keynesians who predicted an imminent recession are pointing out flaws in the GDP details, and they’re right that volatile categories like net exports (1.03%), inventory growth (0.65%) and state and local government (0.41%) contributed substantially to growth. Strip out those categories and growth would have been 1.3%.

Yet the government shutdown took some 0.3% off growth and that won’t be repeated in the second quarter. Auto sales took 0.49% off GDP in the quarter, but sales rebounded in March heading into the second quarter. Overall consumer spending contributed a relatively small 0.82% to GDP, perhaps due to the fall in consumer confidence after the stock market swoon in the last months of 2018. With job growth strong and wages rising, consumers should contribute more to the expansion the rest of this year.

Private business investment kicked in a relatively measly 0.27% in the quarter, which is disappointing. But the nearby chart shows how much private capital investment has driven the rebound in growth since 2017. Business investment fell through the floor in the last half of 2015 and 2016, offset in part by a robust housing market. But that has reversed since Donald Trump took office, with business investment taking the lead as housing slowed and moved into negative territory in late 2018 and the first quarter of 2019.

What changed? Well, the economic policy mix. The Trump Administration lifted the threat of new regulation and harassment of business in 2017, which liberated long-stifled animal spirits. Then came the Trump tax reform with its sharp reduction in business tax rates and immediate 100% expensing of new investment. This was targeted precisely to stimulate the weak capital investment that had stymied growth in the Obama years.

This has also kept the U.S. expansion going even as growth in the rest of the world has slowed markedly. U.S. growth over the last four quarters year over year is now above 3%. Politicians in Germany or France would be elated, and maybe faint dead over, if they could keep growth above 3% for 12 months.

Unlike the years leading up to the last recession, the current economy isn’t as dependent on the housing market. Many economists consider housing to be a form of consumption, while capital investment in equipment, intellectual property and new plants pays off for years to come in better productivity and higher wages. This is the tax-reform gift that keeps on giving as lower tax rates that are fixed in law raise the return on capital that encourages more investment. In other words, tax reform isn’t a “sugar high.”

The first quarter was also notable for the slowdown in inflation, with the price index for gross domestic purchases rising 0.8%. That’s the slowest pace since the first quarter of 2016. Even with the recent rise in oil prices, there’s no inflation case that the Federal Reserve should resume raising interest rates.

With the Fed on hold, the biggest remaining obstacle to new investment continues to be U.S. trade policy. This is less about specific tariffs, though those are problems, than about the uncertainty over whether tariffs will be lifted or new ones imposed and whether global supply chains will have to be revamped.

President Trump can go far to eliminate this uncertainty by concluding a trade deal with China, lifting the steel and aluminum tariffs on Canada and Mexico that he promised to lift in 2018, and taking tariffs on European and Japanese cars off the table (see the editorial nearby). These decisions are all at Mr. Trump’s discretion and don’t rely on Congress.

House Speaker Nancy Pelosi hasn’t said whether she’ll hold a vote on the revised U.S., Mexico and Canada trade pact, but that won’t hurt the economy unless Mr. Trump withdraws unilaterally from the original Nafta deal that is still in effect. He’ll have more leverage on that score if he wins re-election, which depends on continued economic growth this year and through 2020.

In addition to judges, the biggest success of the Trump Presidency has been the economy. The left will never give him credit, but at least the “reformacons” on the right who derided deregulation and corporate tax cuts as an out-of-date agenda should admit how wrong they were. Had Mr. Trump taken their advice, we wouldn’t be seeing a growth rebound that is lifting wages for everyone.

https://www.wsj.com/articles/the-tid...ng-11556319160

ECC, you left out half of the paragraph in your quote. Did you intend to do that or was that an accident? Here is the full paragraph that you were quoting from.

Still, Trump has beaten the expectations set by the Obama administration, which at the start of 2017 predicted growth of 2.4 percent in 2017 (fourth quarter to fourth quarter) and 2.3 percent in 2018. The big difference is Trump’s tax cuts and the huge spending bill he signed, which economists estimate added almost 1 percent in short-term GDP growth. Most forecasters did not raise long-run growth projection after passage of the tax cut; falling unemployment rates make it even more difficult to sustain economic growth at the current level.

So, cutting the corporate tax rate to 20%, gets you 1 percent short-term GDP growth. Trump is borrowing billions from China to pay for these tax cuts that are being used mostly for stock buy backs. The recession was over before Trump came into office. Originally Posted by adav8s28

Actually, if you are paying attention to your own article, that is not the paragraph I quoted from. It was the first sentence of the summary at the end, which stands on it's own. Sure even in the summary they couched that there were factors beyond Trumps control, but they emphatically summarized Trump has exceeded expectations on jobs and economic growth.

Had to have been hard for them to admit and obviously even harder for you to acknowledge they said it.

I used to get into arguments with a very bright finance guy on another hooker board who's a staunch Democrat. I argued the economy and stock market performed better under Republican presidents and he argued they did under Democratic presidents, and we'd both try to manipulate history to show we were right. After considerable time and effort I came to the conclusion it usually doesn't make a rat's ass whether the president's a Democrat or Republican.

You can attribute Obama's "success" to a recovery from one of the worst recessions since the 1930's. And it was an weak recovery. But that wasn't primarily because of Obama, at least during his first term. I'd give Obama and Tim Geithner credit for continuing with the Bush/Paulson bailouts, and for extending the Bush tax cuts until the end of 2012. The later in particular showed some balls, deviating from the standard Democratic Party high-tax mentality, although it required a Republican Senate filibuster to extend the cuts to higher income taxpayers. On the other hand, I'd fault Obama for over-regulation, and jacking tax rates on January 1, 2013 up to higher levels than they were under Clinton.

Trump may be one of the minority of presidents whose policies make a signicant difference in the economy. His corporate tax cuts and deregulation have had a very positive effect on the economy. The unanswered question is whether his trade policies and deficit spending may undo the good he's done.

Actually, if you are paying attention to your own article, Originally Posted by eccielover

Both paragraphs were similar. WAPO gives Trump Pinocchio's in several places in the article.

Again you left out half the paragraph to fit your agenda.

1. The expectations did not include Trump cutting the corporate tax rate down to 20% and increasing the deficit to $ 1 Trillion to pay for it.

2. Their conclusion which you left out on purpose is they (WAPO) question what Trump did is even substainable.

3. You can play games with sentences all you want. When Obama hit 2.9% GDP growth it's no big deal for the reputards. When Trump hits 2.9 % GDP growth the reputards think he walking on water.

From the link:

We’ve said before that anyone who gives sole credit to a president for economic gains receives an automatic Two Pinocchios — and Trump’s claim of a historic turnaround is worthy of more. The historical books are going to view the actions taken in 2008 and 2009 by George W. Bush and Obama — and the Federal Reserve — as pivotal to saving the U.S. economy.

Trump, however, has exceeded expectations on jobs and economic growth that were in place at the start of 2017. That’s due in part because of his tax cut, but also because of factors largely beyond his control, such as the increase in oil prices. The real test will be whether the current trajectory is sustainable.

The Bureau of Economic Analysis (BEA) won't issue its final 2018 GDP growth number until late July. Such revisions tend to be upward, so it's very possible Trump did hit 3% last year.
https://www.wsj.com/articles/the-tid...ng-11556319160 Originally Posted by lustylad

You will try to defend your guy won't you? You are almost doing as good as job as Barr is at keeping Trump from being impeached.

We'll see. Obama hit 2.9% GDP rate without cutting the corporate tax rate to 20% and increasing the deficit to 1 Trillion to pay for the reduced tax revenue that is not coming in.

You will try to defend your guy won't you? You are almost doing as good as job as Barr is at keeping Trump from being impeached.

We'll see. Obama hit 2.9% GDP rate without cutting the corporate tax rate to 20% and increasing the deficit to 1 Trillion to pay for the reduced tax revenue that is not coming in. Originally Posted by adav8s28

how much did Obama add to the deficit?


asking for a friend