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Thread: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by Moderate Right View Post
    Too funny! You guys claim there was nothing wrong with Obama's 1.9% then you jump all over Trump because of 1.9% projections.
    ....or, "you guys" claim there is everything wrong with Obama's 1.9%, but are cool with Trump's 1.9% (which he will have a very difficult time achieving).
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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by MTAtech View Post
    Please don't misinterpret. My ridicule was squarely aimed at Trump supporters, Republicans and conservatives that jump all over Obama for policies that produced 1.9% economic growth and will either cheer 1.9% growth under Trump or hold back on any criticism.

    While Trump claimed that his economic policies will generate 4% growth, we, once again, see that those claims were mere BS. His policies will do no better while enriching the already rich and hurting everyone else.
    In other words, paybacks are hell.

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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by MTAtech View Post
    The point made by Critter7r was that Team Trump exaggerated economic projections so that they can exaggerate revenues and underestimate deficits.

    Trump's budget does reduce deficits below current law, but only because it savagely cuts social spending. It doesn't bring in more revenue. So, what do you think GDP will really be with that much less government spending? The CBO didn't measure that but I can tell you. It has to drop by the difference between current law and the new budget, which is a contractionary policy.
    So? Obama exaggerated many things to, including several things connected with Obamacare.

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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by iguanaman View Post
    Placeholder Pence will be a welcome change IF he can somehow prove he was not in on the treason. That seems unlikely since he was part of the Transition that put Flynn at the NSA. Putting that Russian Stooge in charge of our most guarded secrets can never be forgiven.
    I will be breathlessly awaiting all of your future posts demanding that Pence be made president and that he has your full support. Until then I will dismiss everything you say as just rabid partisanship and sour grapes because your side lost.

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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by Moderate Right View Post
    So? Obama exaggerated many things to, including several things connected with Obamacare.
    Then I guess that justifies it.

    Rather than defend President Trump’s specific actions, his conservative champions change the subject to... (5) whataboutism, as in “What about Obama?” “What about Clinton?”
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by Moderate Right View Post
    I will be breathlessly awaiting all of your future posts demanding that Pence be made president and that he has your full support. Until then I will dismiss everything you say as just rabid partisanship and sour grapes because your side lost.
    Rather than defend President Trump’s specific actions, his conservative champions change the subject to ...(4) anyone else victimizing Mr. Trump or his supporters and...
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by upsideguy View Post
    ....or, "you guys" claim there is everything wrong with Obama's 1.9%, but are cool with Trump's 1.9% (which he will have a very difficult time achieving).

    Well, I am not one of the guys. From my personal experience I have seen that slow steady growth is actually better in the long run than faster growth followed by steeper pullbacks. So, I was fine with Obama's 1.9% growth. I'm not the one being the hypocrite here, you are.

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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by Moderate Right View Post
    So you're OK with Trump's projected 1.9% then and just want to partake in biased liberal talking points solely for political purposes.
    I'm ok with the projection of 1.9% growth. It was not, however, Trump's projection. His prediction (based on what? who knows) was for 4% growth, which doesn't appear to be a possibility. I'm ok with the fact that 4% growth isn't a possibility, I'm not ok with Trump predicating his budget projections on 4% growth, when he's been shown that it isn't going to happen.
    I'm not going to chase you while you run around with the goalpost in your arms.

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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by Critter7r View Post
    I'm ok with the projection of 1.9% growth. It was not, however, Trump's projection. His prediction (based on what? who knows) was for 4% growth, which doesn't appear to be a possibility. I'm ok with the fact that 4% growth isn't a possibility, I'm not ok with Trump predicating his budget projections on 4% growth, when he's been shown that it isn't going to happen.
    Apparently even the 1.9% growth is at risk. Consumer spending is dropping as people realize what a failure Trump is.

    American consumers account for the majority of economic growth. And they're cutting back on their spending.
    Retail sales dropped in June for the second straight month, according to Commerce Department data released on Friday. Sales in June dropped 0.2% compared to May. It's the third decline this year.
    "This was disappointing and does seem to be a broad based decline," says Michael Pearce, U.S. economist at Capital Economics, a research firm. "We've got a weak base going into the second half of the year."
    Americans pulled back spending across the board in June. Sales dropped at gas stations, grocery stores, department stores, restaurants and bars.
    At the same time, Americans' confidence in the economy's future is cooling off after spiking following President Trump's election, according to indexes from the University of Michigan and the National Federation of Independent Business.
    Americans are cutting back on spending - Jul. 14, 2017
    Those who can make you believe absurdities can make you commit atrocities.
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    Re: CBO: Economic Growth is projected at 1.9%. 3-4% is unrealistic.

    Quote Originally Posted by MTAtech View Post
    CBO: Trump's 2018 budget would not balance as White House has claimed - CBS News

    Trump originally promised 4%. Neither will likely happen.

    I also predict that if the budget was passed, there is so much less federal spending that GDP will actually be much lower than 1.9% and Americans will be worse off.
    Ultimately the economy can't realistically grow much faster if any faster than the population grows. With birth rates declining, baby boomers dying, and attempts by Republicans to keep immigrants out it would not shock me if we had a long term net zero growth coming in the future. It might not have anything at all to do with economic policy of either party, it's just a natural thing that's going to happen.

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