U.S. Economy Grows at Faster Than Expected 3.2% in First Quarter

I'm not saying it will improve the debt, but the GOP has made it manifestly clear deficits and debt are not priorities. How else do you explain the huge deficits that have happened under unified GOP control of government?

 

The federal government has collected record revenue in the last two years after the tax cuts
so your premise is debunked by the facts

 

we are still paying for Obamas mess

 

Multiple things wrong with this post

1. The comment you are referring to was an economist of the Obama administration, not Obama himself

2. He didn't say it was impossible, he said it was unlikely

3. He was referring to annual GDP growth, not quarter reports. It would make no sense to say that about quarter reports considering we had quater reports that went above 4% and 5% during the Obama administration (but no annual reports that broke 3%)

4. The statement ended up holding true, as both 2017 and 2018 finished with sub 3% annual growth, and we're not likely to see that kind of annual growth by the end of this year either. The first quarter of 2015 was 3.3%, these numbers (the quarter reports) are not unprecedented

 

I hope you're being ignorant and not knowingly disingenuous. Deficit spending continues as you climb out of the recession and try to make it make to the economic activity level you were at before the recession. Especially the 2009 recession, because it was SO deep that a couple of quarters of GDP growth off the bottom came NOWHERE near replacing the lost economic activity.

#1, why? You don't seem to care that Trump added $1 trillion to the deficit at the height of a recovery, which is the EXACT OPPOSITE of what your'e supposed to do. So why pretend you care AT ALL about deficits?

#2, Obama reduced the deficit from 9.8% of GDP when he took office to 3.1% when he left:
https://www.thebalance.com/us-deficit-by-year-3306306

#3, Beginning with Carter, the deficit has ONLY gone down under Democratic presidents. It has ALWAYS gone up under Republicans.

#4 Democrats have been the only party to implement PAYGO, which required that all new spending be paid for. Republicans are the ones who just put stuff on the credit card.

Given all of the above, the more relevant question is, why do you think Republicans will cut the deficit?

 

So you have nothing, got it. That's fine, you can save your BS.

 

Er, where did I say that? RIF.

 

So are you denying the feds purposely raised interest rates in order to cool a rapidly growing economy which they feared would lead to inflation?

 

Awesome news. Soo glad I voted for Trump.

 

It is the mission of the Fed to control inflation. If they see evidence for inflation ticking up, their main tool is to raise interest rates. They would do the same, no matter which president sits in the WH. Only Trump fans would think that Powell is actually trying to "punish" Trump by raising rates.

Second, anyone who would know macroeconomics could have predicted that the Fed would raise rates in response to an overheating economy. So, why overheat the economy through deficit spending only to be greeted with the predictable Fed response? Does Trump not understand macroeconomics?

 

You know that posting these animated gifs just make you look silly.

 

I find them quite effective.

 

I responded to your previous post in which you stated trump never achieved the growth numbers he promised and I told you the reason why. Seems you agree that the reason why is the fed raised interest rates explicitly to slow trumps booming economy. Not much more to say here.

 

Although it is true that Trump never achieved the numbers he promised, I was not the one who made that point.

I do not agree that the Fed raised rates to slow the "booming" economy, it raised rates to curb inflation -- entirely as predicted. I also realize that Trump would rather have a stooge as the Fed chair who would give him 0% interest rates to further fuel the fire, making the next recession even deeper. Luckily, Powell is not such a stooge.

 

Well they are less then when there was a dem congess so I’d say it’s an improvement

 

"The medium is the message" - Marshal McLuhan
meaning that the form of a medium embeds itself in any message it would transmit or convey, creating a symbiotic relationship by which the medium influences how the message is perceived

Cartoons (even gifs) can convey a message effectively. Your perceived response indicates the medium used conveyed the intented response.

 

Barry was the one who tried the massive deficit spending thing, and it didn't work.

Funny how the media calls these good results 'surprising', just like they called Obama's bad results 'surprising'.

 

Claiming someone is ignorant will get your post deleted and refute nothing so can it.

We were out of the recession before any of the stimulus was put into effect. It was supposed to hold unemployment to 8%, instead unemployment soared to 10% and stayed over 8% for the next four years, what don't you get it was a total failure.

Me>> Now convince me the current Democrat House will cut the deficit.

Because they are running to take the Senate and the White House. So convince me they will cut the deficit with their policies. What spending cuts are they proposing?

I care a whole bunch and urge everyone to NOT vote for Democrats and RINO's and vote for fiscal conservative Republicans.

Obama and his fellow Democrats took the last Bush/Republican deficit of just $161B to $1,400B and kept it over $1,000B for the next four years. The Republican sequester and austerity brought it down, two polices Obama and the Democrats opposed.

Presidents don't control the budgets and deficits Congresses do. The deficits went down in the mid to late 1990's because of Gingrich and Kasich and THEIR budgets which they forces Clinton to sign and THEIR welfare reform they forced Clinton to sign. After the 2001 recession/ Dot.com bubble bust/911 where thanks in part to Republican policies helping to mitigate the damage the deficit a one year high of $400B and unemployment hit a one month high of 6.5%. Then both quickly receded we had 52 months of full employment, rising incomes, soaring tax revenues and they took the deficit down to a paltry $161B for 2007. Then the Democrats took back the Congress and budget authority and two years later it hit that $1,400B saying over $1,000B for the next three years.

They've done nothing of the sort and increased the debt more than at any other time.

If twe can get rid of the RINO's and more of the Democrats they will do as they did as I showed above.

 

Record revenue???

a. Nominal dollars......of course! anything measured in nominal dollars will most likely be a record, such as the Federal minimum wage; 1969 ($1.30), today ($7.25), thus, WE HAVE A RECORD HIGH!!!!!!! duh!

b. as a percentage of GDP.....You will lose

 

Obama put over 8 trillion on the credit card why no boost for him?

 

He's trying, but Mr. 9, 9, 9 couldn't make the cut.

 

Due to different factors and conditions...…

Question; Why most housing indicators were much higher in the 90's?

Answer; Due to different factors and conditions

 

No response?

Let's continue.....

a. FY2000 Receipts as a percentage of GDP
VERSUS
b. FY2018 Receipts as a percentage of GDP

…..and the winner is?

a. 19.75% of GDP
FY2000 Receipts; $2.025 Trillion
2000 Nominal GDP; $10.252

b. 16.2% of GDP
FY2018 Receipts; $3.329 trillion
2018 Nominal GDP; $20.494

a significant difference of 3.55% ($20.494 trillion X 3.55% = $727.5 billion)

So pleeeease, no more nonsense.

 

Quote: The only downside is that the great numbers could make the Feds start looking at an interest rate increase they said wouldn't happen this year


In other words, the Fed may once again sabotage Trump's economy.....NONSENSE!

Actually, prior to the Christmas holidays, Trump sabotaged his own economy when he kept chanting: "I will shut down the government"

…...and the psychology of not getting paid after the holidays is the same psychology of losing a job, thus, 800,000 + alarmed employees, their family members, friends and communities only buy necessities due to stress. anxiety, and feelings of impending doom.

Response from Trumpeteers; "Short term pain for long term gain"

Well, guess what?

The Fed raised rates; SHORT TERM PAIN
Today's 3.2% GDP Growth rate; a SHORT TERM GAIN according to the Democrats, and LONG TERM according to the Trumpeteers.

 

Saying feds raised rates to curb inflation without acknowledgement of the fact that the inflation they feared was the result of an economy on fire is like saying an obese person needs to start exercising to lose weight without acknowledgement of the fact that they are obese because they have been eating like a pig.