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Trump Admin no longer forecasting 3% growth

MTAtech

MTAtech

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Their 2019 Economic Report of the President has scaled back its growth projection to below 3%. See page 527, “current-law baseline forecast is for output growth to moderate as the capital-to-output ratio asymptotically approaches a higher steady-state level in response to business tax reform, and as the near-term effects of the TCJA’s individual provisions on the rate of growth dissipate into a permanent level effect.” That blather means that the Trump tax cuts temporarily stimulated the economy by jacking up the deficit, but now that stimulative effect is wearing off, the growth level is expected to sink below 3% a year.

In other words, the "mediocre" economic growth that those with Trump Devotion Syndrome (TDS) have been telling us existed under Obama, is going to be the standard for the Trump Administration. Gone are the 4-6% growth projections previously boasted about.

To re-emphasize my point, the 2017 tax-cut gave the economy a temporary and slight jolt at a huge permanent cost to the Treasury.
 
MTAtech said:
To re-emphasize my point, the 2017 tax-cut gave the economy a temporary and slight jolt at a huge permanent cost to the Treasury.
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You carry the cost forward and not the benefit. Convenient.
 
MTAtech said:
Their 2019 Economic Report of the President has scaled back its growth projection to below 3%. See page 527, “current-law baseline forecast is for output growth to moderate as the capital-to-output ratio asymptotically approaches a higher steady-state level in response to business tax reform, and as the near-term effects of the TCJA’s individual provisions on the rate of growth dissipate into a permanent level effect.” That blather means that the Trump tax cuts temporarily stimulated the economy by jacking up the deficit, but now that stimulative effect is wearing off, the growth level is expected to sink below 3% a year.

In other words, the "mediocre" economic growth that those with Trump Devotion Syndrome (TDS) have been telling us existed under Obama, is going to be the standard for the Trump Administration. Gone are the 4-6% growth projections previously boasted about.

To re-emphasize my point, the 2017 tax-cut gave the economy a temporary and slight jolt at a huge permanent cost to the Treasury.
Click to expand...

Trump Admin no longer forecasting 3% growth
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Yes. His Admin says one thing. He says another. Trumpkins, being as dumb as their eponymous leader, will think he knows more than the experts in Admin and think we're going to realize 4%-6% growth.

Trump's Admin has long said the wall isn't going to achieve the ends Trump's declared for it, yet we are in a state of wall-driven national emergency.

I wonder how much else Trump's Admin will say that Trump rejects and his disciples take his word for it....


Red:
Anyone with enough sense to pound sand knew those projections were but pipe dreams to begin with.
 
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ecofarm said:
You carry the cost forward and not the benefit. Convenient.
Click to expand...

Yes indeed, the benefit fizzled out, which they admit. Yet, the cost of the tax-cut remains.
 
MTAtech said:
To re-emphasize my point, the 2017 tax-cut gave the economy a temporary and slight jolt at a huge permanent cost to the Treasury.
Click to expand...

and the added debt was much to high making the tax cut an economic mistake long term

Fat Boy always lives for the day then leaves the room without paying the tab.
 
MTAtech said:
Yes indeed, the benefit fizzled out, which they admit. Yet, the cost of the tax-cut remains.
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It was a horrible economic move. Just horrible and TOTALLY predicted.
 
MTAtech said:
Yes indeed, the benefit fizzled out, which they admit. Yet, the cost of the tax-cut remains.
Click to expand...

So no denouement. Is that intellectual dishonesty or lack of vision?
 
I am shocked, I tell you... Shocked...
 
It is fascinating to watch liberal progressive "americans" crow gleefully about the countries potential woes.
 
MTAtech said:
Their 2019 Economic Report of the President has scaled back its growth projection to below 3%. See page 527, “current-law baseline forecast is for output growth to moderate as the capital-to-output ratio asymptotically approaches a higher steady-state level in response to business tax reform, and as the near-term effects of the TCJA’s individual provisions on the rate of growth dissipate into a permanent level effect.” That blather means that the Trump tax cuts temporarily stimulated the economy by jacking up the deficit, but now that stimulative effect is wearing off, the growth level is expected to sink below 3% a year.

In other words, the "mediocre" economic growth that those with Trump Devotion Syndrome (TDS) have been telling us existed under Obama, is going to be the standard for the Trump Administration. Gone are the 4-6% growth projections previously boasted about.

To re-emphasize my point, the 2017 tax-cut gave the economy a temporary and slight jolt at a huge permanent cost to the Treasury.
Click to expand...

I think the more important part of that report is this:

GDP Growth during the Next Three Years

As illustrated in figure 10-16 and reported in the third column (“Real GDP”) of table 10-3, the Administration anticipates economic growth to remain at or above 3.0 percent through 2023, assuming full implementation of the economic agenda detailed in this Report and its predecessor. We expect near-term growth to be supported by the continuing effects of the TCJA, discussed in chapter 1, as well as new measures to promote increased labor force participation and deregulatory actions, discussed in chapters 3 and 2, and an infrastructure program, discussed in chapter 4 of the 2018 Economic Report of the President, which we assume will commence in 2019 with observable effects on output beginning in 2020.

The Administration also expects the labor market to continue to exhibit strength in the near term, with the civilian unemployment rate remaining below 4.0 percent through 2022, as reported in the sixth column, “Unemployment rate,” of table 10-3. Despite low unemployment, inflation is expected to remain low and close to the Federal Reserve’s 2.0 percent target for the PCE Price Index. The Administration therefore expects inflation beyond 2018 to remain stable at 2.0 percent through 2021, as shown in the fourth column (“GDP price index”) of table 10-3.
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What that means is...it's up to Congress. They have the means to support the outstanding growth our economy has enjoyed these last two years...or they can torpedo it.

btw, MTAtech, that snippet you provided was just a small part of the "GDP Growth over the Longer Term" section. You should have been honest enough to include that whole section. It gives a lot of context to your snippet.
 
akyron said:
It is fascinating to watch liberal progressive "americans" crow gleefully about the countries potential woes.
Click to expand...

This has been discussed (and dismissed by the right) for the last 8 years.
 
Mycroft said:
They have the means to support the outstanding growth our economy has enjoyed these last two years...or they can torpedo it.
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The growth the past two years is ever so slightly above the trend. I wouldn't call sub 3% rGDP growth outstanding... more the norm which was discussed for 8 years.
 
akyron said:
It is fascinating to watch liberal progressive "americans" crow gleefully about the countries potential woes.
Click to expand...

It's good you put Americans in quotes. I thought they were all moving to Canada after the 2016 election. I guess it's going to well down here. They love what is bad for America. They cheer even the worst disasters because they can't wait to blame it on Trump. I think these traitors should all be deported.
 
akyron said:
It is fascinating to watch liberal progressive "americans" crow gleefully about the countries potential woes.
Click to expand...

“Gleefully”? Hardly. More like “we told you, and you refused to listen while sitting there telling us how wonderful Trump is for two years.”
 
Kushinator said:
The growth the past two years is ever so slightly above the trend. I wouldn't call sub 3% rGDP growth outstanding... more the norm which was discussed for 8 years.
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The figures on pg. 14 tell a different story.

charts.jpg
 
MTAtech said:
Their 2019 Economic Report of the President has scaled back its growth projection to below 3%. See page 527, “current-law baseline forecast is for output growth to moderate as the capital-to-output ratio asymptotically approaches a higher steady-state level in response to business tax reform, and as the near-term effects of the TCJA’s individual provisions on the rate of growth dissipate into a permanent level effect.” That blather means that the Trump tax cuts temporarily stimulated the economy by jacking up the deficit, but now that stimulative effect is wearing off, the growth level is expected to sink below 3% a year.

In other words, the "mediocre" economic growth that those with Trump Devotion Syndrome (TDS) have been telling us existed under Obama, is going to be the standard for the Trump Administration. Gone are the 4-6% growth projections previously boasted about.

To re-emphasize my point, the 2017 tax-cut gave the economy a temporary and slight jolt at a huge permanent cost to the Treasury.
Click to expand...

I guess that means we need another round of tax cuts. Glad you are on board.
 
Kobie said:
“Gleefully”? Hardly. More like “we told you, and you refused to listen while sitting there telling us how wonderful Trump is for two years.”
Click to expand...

No, liberal morons called the tax cuts 'armageddon'

 
MTAtech said:
Yes indeed, the benefit fizzled out, which they admit. Yet, the cost of the tax-cut remains.
Click to expand...

Team Trump told us that the 2017 tax cut legislation would generate sustained annual economic growth of 4+% which would pay for the tax cuts (for the wealthy).

Economists and the CBO said at the time that an initial economic sugar-high would occur, and then the economy would experience contraction and recession.

Everyone at the time (excepting Trumptards) knew that this smoke-and-mirrors tax cut would never pay for itself and the federal deficit would skyrocket (now at a historic high).

Everyone with a brain (also excepting Trumptards) knew that Trump/GOP would then be demanding deep cuts to social programs to pay for their ill-advised bonanza to the ultra rich donor class.

Voila!
 
Kobie said:
“Gleefully”? Hardly. More like “we told you, and you refused to listen while sitting there telling us how wonderful Trump is for two years.”
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I dont recall anyone speak or post any such thing. When you are being mugged in a dark alley. Whomever comes along and stops them gets a thanks.
 
Fletch said:
I guess that means we need another round of tax cuts. Glad you are on board.
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They say the definition of insanity is doing the same thing over and over and expecting different results. Thanks for proving what many have been saying about Trumpsters.
 
MTAtech said:
They say the definition of insanity is doing the same thing over and over and expecting different results. Thanks for proving what many have been saying about Trumpsters.
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Oppositeland? Tax expansions over and over for decades. Very few tax cuts.
 
MTAtech said:
They say the definition of insanity is doing the same thing over and over and expecting different results. Thanks for proving what many have been saying about Trumpsters.
Click to expand...

The economy is fantastic right now. What planet are you on?
 
akyron said:
Oppositeland? Tax expansions over and over for decades. Very few tax cuts.
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The Reagan tax-cuts slashed revenue; the Bush tax-cuts slashed revenue; the Kansas tax-cuts slashed revenue. Denial is not a strategy.
 
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