The United States has surged back!

The empirical data confirms that America's economic boon persists:

Inflation fell markedly in January as Fed weighs interest rate cuts

Standard and Poor's 500 closes at new all-time high

U.S. Unemployment Rate Holds Steady at 3.7%

CEOs turn positive on the economy

US Economy Today: Consumer Sentiment Catches Up to Economy

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Global inflation persists, but the U.S. has dealt with it admirably.

... another 275,000 jobs added in February and unemployment at 3.9%.

“Job gains remain solid,” said Nela Richardson, chief economist at ADP, a payrolls firm. “Pay gains are trending lower but are still above inflation. The labor market is dynamic.”

Even Stephen Moore, an economist Trump tried to appoint to the Federal Reserve board and who is now part of Project 2025, a plan for a rightwing takeover of the federal government, celebrated economic conditions.

“One thing Biden said last night was true,” Moore told Fox Business. “It is true that the United States today has the strongest economy. There is no question about it.”

https://www.msn.com/en-us/news/poli...sitive-state-of-the-union-reviews/ar-BB1jzs2d
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That doesn't really matter for most people.
Inflation is going down. Why are many prices still high?

NBC4 Washington
https://www.nbcwashington.com › news › local › inflati...

Feb 28, 2024 — The short answer: A slowdown in inflation is different than prices simply going down. That's called deflation. Inflation is not the same as a ...

 

The creation of jobs matters for people who work. Biden's 14.8 million new jobs is a record for any president in the first three years. The unemployment rate is currently 3.7%,

Under Trump, the economy lost 2.9 million jobs, and the unemployment rate increased by 1.6% to 6.3%.

Half of recent US inflation due to high corporate profit
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... Consumers are still paying about 25% more for groceries, the report notes as an example.
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Corporations maintain high prices by exploiting cost shocks caused by events such as the Ukraine war and coordinating price hikes, said Isabella Weber, a University of Massachusetts Amherst economist who was not part of the paper.

The shocks create an environment in which it is safe for firms to increase prices as they expect their competitors to do the same, said Weber.

“This is a form of implicit collusion,” she said. “Firms do not even need to talk to one another to know that a cost shock is a great time to raise prices. But when costs fall, price-setting firms do not have any incentive to decrease prices.”

https://www.theguardian.com/business/2024/jan/19/us-inflation-caused-by-corporate-profits

 

You are wasting your time if you want me to defend Trump.

 

Many are.

 

Too many jobs created.....again.

What do they have to do to cool down the economy? The Fed isn't going to cut rates unless the economy cools.

 

The DOW is closing in on a never-seen threshhold - 40,000!

 

The problems remain.

• Stubbornly High Prices Are Taking Their Toll on Consumer Behavior
• Home Foreclosures Rise Nationwide

 

Sounds like you're advocating for Trump, when you previously said that you don't support him. Disgruntled Nikki Haley fan?

 

I have voted against Trump twice and will do so again. I regard both Trump and Biden as unfit. The linked articles are merely data.

 

agreed but I find the judicial appointments of Trump to be far better than anything we have seen from Clinton, Obama or Biden and thus I will vote for Trump on those grounds

 

Yes, but look how far we've come since the collapsed economy, high unemployment, and COVID mismanagement in 2019. Stock market is hitting new records, along with 50-Year low unemployment numbers.

 

U.S. GDP for 2019 was $21,380.98B, a 4.13% increase from 2018.
U.S. GDP 1960-2024 | MacroTrends

Stock market went up over 22% in 2019.
Dow Jones - DJIA - 100 Year Historical Chart

 

Gains were very marginal under Trump, and don't count because he blew up the deficit, and the US had the worst 4-year debt in history. I can overspend and cut my income, and manage to look very prosperous. Everything collapsed after his mismanaged COVID crisis.

 

Sorry, but that's just arm waving. All Presidents of both parties since Clinton have blown up the national debt by deficit spending, so don't single out Trump. And if he "mismanaged" COVID then you'll have to account for the stunning success of his "Operation Warp Speed" vaccine development.

 

I will single out Trump because he said he was going to "Balance the Budget" - instead highest debt in history. Even Biden, who has inherited even more "interest on the debt daily", will have a small debt than Trump.

 

The data: Trump ranks 8th in contribution to the national debt by percentagte.
U.S. Debt by President: Dollar and Percentage

Investopedia
https://www.investopedia.com › us-debt-by-president-d...

The national debt has increased under most U.S. presidents. Here is how much each president's time in office added to the U.S. debt by percentage and dollar ...

 

This study is based on dollars adjusted for inflation. Let's take the top 8 - FDR and Wilson were in WWII and WWI. Third is Reagan. Reagan started the huge reduction in taxes for the wealthy, which has continued to this day. In the 1950s thru the 1970s, the top tier tax rate was always higher than 70%. And guess what - the deficit was never very bad. Fourth is GW Bush - a miserable failure. He actually inherited a budget surplus. One crisis after another, including the huge recession of 2008. Fifth is Obama - this was predominantly due to the handoff of the worst recession since the Great Depression. After the first 1-1/2 years of Obama, the situation improved drastically. Obama actually reduced the deficit in 5 of his 8 years. The next 2 were GH Bush (read my lips) who inherited Reagan's wealthy extreme tax cuts, and Richard Nixon (impeached). Next was Trump - he had no excuses. He was handed a good economy, with reduced deficits for 5 of the last 6 Obama years. Trump ballooned the deficit every year he was in office, and ran up the highest debt in terms of actual dollars in American History ($8 Trillion).

 

I'm not going to take the partisan bait. I'll simply note that Reagan's spending essentially won the Cold War (as Wilson's and Roosevelt's won WW1 and WW2) and Reagan's tax cuts laid the foundation for prosperity and balanced budgets under Clinton.

 

You forget that GH Bush was in between Reagan and Clinton? He was on your "huge debt" list. His plea to the American people for "tax revenue increases" after his previous "read my lips" comment destroyed him, and his reelection bid. But he had to do it, because of the passing of the buck from Reagan.

 

GHWB's administration was dominated by the First Gulf War and its costs, and his reelection campaign was the worst I have seen in my lifetime. Had Ross Perot not run, GHWB would have won reelection anyway.

 

I'm not going to argue coulda, woulda, shoulda claims about an old election. But your claim earlier that Reagan should get the credit for Clinton/Gore's balanced budget is ridiculous. If you want to give some credit to Republicans, cite the Newt Congress, which worked with Clinton/Gore to get it done.

Stock markets are on a tear and are breaking new records every week. Unemployment is at 50-year lows. Even inflation is down to a workable level So the OP is correct with his assessment that the "US has Surged Back".

 

You should read more.
"Actually, Bill Clinton is reaping a harvest that Ronald Reagan sowed. Reagan's economic policies and his victory in the Cold War laid the solid, if painfully built, foundation for a boom that picked up in the 1980s, was interrupted by the mild Bush recession of 1990-91 and got rolling around the time Clinton took office."
How Reagan reelected Clinton

Forbes
https://www.forbes.com › forbes

Nov 3, 1997 — Reagan's economic policies and his victory in the Cold War laid the solid, if painfully built, foundation for a boom that picked up in the ...

 

Your link is from a book. Some of these books are actually screened and authorized by ex-Presidents. Read the last paragraph ---

This article is adapted from Dinesh D'Souza's Ronald Reagan: How an Ordinary Man Became an Extraordinary Leader, ...

So it's basically a very pro-Reagan editorial. Any of us could dig up thousands of old editorials to make our point.