Trump's Economy Still Unable to Rise above 3% Growth

When Obama took office TARP had been implemented. The economy was recovering although the gross mishandling of Lehman Brothers had tied up the financial sector. Obama's stimulus did not and was a waste of money.

 

Come'on man - that's just dumb. Part of the plan ??

 

RW propaganda. The then record deficit Clinton inherited had already been almost completely wiped out by the time the 1997 minor tax cut was passed.

year - total deficit
1992 -290.3
1993 -255.1
1994 -203.2
1995 -164.0
1996 -107.4
1997 -21.9

The surplus was a result of revenues growing far faster than the economy after the tax increase.

 

C'mon man. That's just plain naive.

Part of the plan.

Step 1: Obstruct and use control of the House to (*)(*)(*)(*) up the economy. E.g. Create as much uncertainty as possible by threatening to cause the US to shut down the government, default on its obligations, and wreck the economy. Add 700,000+ people to the unemployment lines by eliminating government jobs. Block every single proposal by the President to create jobs. Force austerity cuts in Govt spending to prevent or limit economic growth.


Step 2: Blaaaaame Obaaaaaamaaaaaa and count on the sheeple being ignorant and misinformed or simply blaming whoever is president.

[/QUOTE]

 

Maybe we need to remind ourselves of how great the economy was "recovering" when Obama took office.



January 2009

Job loss: Worst in 34 years
Employers slashed 598,000 more jobs in January [2009] as unemployment rate climbed to 7.6%.

NEW YORK (CNNMoney.com) -- Employers slashed another 598,000 jobs off of U.S. payrolls in January, taking the unemployment rate up to 7.6%, according to the latest government reading on the nation's battered labor market.

The latest job loss is the worst since December 1974, and brings job losses to 1.8 million in just the last three months, or half of the 3.6 million jobs that have been lost since the beginning of 2008.
http://money.cnn.com/2009/02/06/news/economy/jobs_january/index.htm

Foreclosures up a record 81% in 2008
January 15, 2009: 3:48 AM ET
NEW YORK (CNNMoney.com) -- U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they're up 225% compared with 2006.
http://money.cnn.com/2009/01/15/real_estate/millions_in_foreclosure/

Market players were also disappointed by reports that U.S. home prices fell 8.7% year-over-year in November, U.S. housing starts fell 15.5% in December, and weekly initial jobless claims rose 62,000 to 589,000.
http://www.businessweek.com/investor/content/jan2009/pi20090122_192905.htm

On Wednesday, the 30-stock Dow Jones industrial average finished with a loss of 248.42 points, or 2.94%, to 8,200[/B].
http://www.businessweek.com/investor/content/jan2009/pi20090114_103250.htm

598,000 Jobs Shed In Brutal January
Unemployment Hits 7.6% as Downturn Picks Up Steam

The need for progress on those fronts seemed more important than ever yesterday, as the Labor Department announced that conditions worsened more than expected last month. The nation's employers shed 598,000 jobs, the most since 1974, driving the unemployment rate to 7.6 percent from 7.2 percent. If the jobless rate keeps rising at the pace it has for the past two months, it will hit double digits in summer and reach its highest rate since the Great Depression by the fall.
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/06/AR2009020601156.html

GROSS DOMESTIC PRODUCT: FOURTH QUARTER 2008 (PRELIMINARY)
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 6.2 [later revised to 9.2] percent in the fourth quarter of 2008, (that is, from the third quarter to the fourth quarter), according to preliminary estimates released by the Bureau of Economic Analysis.
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408p.pdf

Continued Unemployment Claims at Record High
In the week ending Jan. 24, the advance figure for seasonally adjusted initial claims was 588,000, an increase of 3,000 from the previous week's revised figure of 585,000.
http://www.calculatedriskblog.com/2009/01/continued-unemployment-claims-at-record.html

Housing Market Update - January 2009
The housing statistics for November 2008 were dire and depressing. They were so bad, in fact, that Lawrence Yun, the National Association of Realtors' chief economist, said November’s price drop was the largest the association had ever recorded and probably the worst decline since the Great Depression.
http://www.forest2market.com/blog/housing-outlook-january-2009#sthash.hHUqWRIV.dpuf

 

And the recession was over in 2009 no thanks to any Obama policies.

 

You should consider the possibility that mature 4th Level Economy is incapable of growing consistently at rates greater than 3.0%.

 

Your opinion is not universally held.

Stimulus effects:

CBO estimates that ARRA’s policies had the following effects in the fourth quarter of calendar year 2010:

o Raised real (inflation-adjusted) gross domestic product (GDP) by between 1.1 percent and 3.5 percent,

o Lowered the unemployment rate by between 0.7 percentage points and 1.9 percentage points,

o Increased the number of people employed by between 1.3 million and 3.5 million, and

o Increased the number of full-time-equivalent jobs by 1.8 million to 5.0 million compared with what would have occurred otherwise, as shown in Table 1. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.

http://www.cbo.gov/publication/22032

Non-partisan analysis by IHS, Macroeconomic advisers, and Moody's also show job creations by the stimulus in the 2.1-2.5 million range.

http://www.whitehouse.gov/sites/default/files/cea_5th_arra_report.pdf page 16.

*CBO: Between 1.3 million and 3.6 million jobs saved or created.

*IHS/Global Insight: 2.45 million jobs saved or created.

*Macroeconomic Advisers: 2.3 million jobs saved or created.

*Moody’s Economy.com: 2.5 million jobs saved or created.

http://www.politifact.com/virginia/...or-says-stimulus-failed-get-people-back-work/

+++

September 2009

CBO estimates that the enactment of ARRA raised fed-eral outlays by about $100 billion and reduced tax collec-tions by about $90 billion through September 2009.

On that basis, CBO estimates that in the third quarter of calendar year 2009, an additional 600,000 to 1.6 million people were employed in the United States, and real (inflation-adjusted) gross domestic product (GDP) was 1.2 percent to 3.2 percent higher, than would have been the case in the absence of ARRA (see Table 1).

https://www.cbo.gov/sites/default/files/111th-congress-2009-2010/reports/11-30-arra.pdf

+++

By Spring of 2009, American businesses knew that the Obama administration was not going to let the financial system collapse, knew that it was not going to let the auto industry collapse, and knew there were hundreds of billions of dollars in spending and tax breaks coming down the pike.

Just a coincidence that the economy started turning around within a couple months after the stimulus passed?

I'm sure you'd say so. You have to believe in a lot of massive coincidences to be a conservative nowadays.

 

"Estimates"

Let's wait until the final number.

 

Without the Stormy Daniels effect the Trump economy would be flaccid.

 

The US has not had that many years of 3 percent growth rate since 2000 including after the Bush tax cuts

 

'

Great thread sum.

 

He may have just been negotiating with the GDP. So he started high.

 

Now revised down to 1.9%.

 

Your fixation on sex and prostitutes is unhealthy. Posted pics of naked president Trump lately?

 

Let me guess... a hiccup caused by tariffs?

 

Naw, Bad estimate, just like Trump's.

 

Sex and prostitutes are used by Trump to get the attention of his simple-minded Deplorables. I am not surprised Dutch is hooked.

Does that do it for you? Perhaps a photo of the whole extended Trump family naked will get a rise out of you if your morbidity hasn't developed too far.

 

All that is needed is to understand that the Obama economy averaged 1.% productivity growth.

 

Err...umm you do realize 3.2% is greater than 3% right?

 

You can almost see the little wheels turning.
I'll cut taxes cause my base will love it.
Oops, I had to borrow the money so the dollar went in the tank so the Chinese got the raise.
I'll just put tariffs on everything. Ooops, it made prices go up.
Ooops, interest rates went up too.
Who knew the economy would be so hard.

 

It appears that your little wheels are not turning.

 

No my friend, it is you and not I who starts 5 threads a day on sex and prostitutes and post pics of naked president Trump. No need to be ashamed, we all have our fetishes

 

BINGO!

 

it's anecdotal, but all our recruiters have been expressing an overall rise in required offers to compete. never before have we had this many applicants with multiple offers in my 15 years.

increased price of housing is due to an expanding economy and corporatism.

did you think after 8 abysmal years of growth along with keyenes on steroids that there wouldn't be inflation? how about holding interest rates at zero for years? what did you think would happen?

I'm so glad that you are concerned about deficit spending. are you moving to the libertarian tent?

tariffs are retarded. I agree.