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Does Trump own the economy?

Does Trump own the economy now?

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Cardinal

Cardinal

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Five weeks into Trump's Presidency, the DOW has risen 1000 points since November 10, the unemployment is down to 4.9%, and just this morning Trump had this to tweet:

"The media has not reported that the National Debt in my first month went down by $12 billion vs a $200 billion increase in Obama first mo."

and

"Great optimism for future of U.S. business, AND JOBS, with the DOW having an 11th straight record close. Big tax & regulation cuts coming!"

Both of these seem to strongly imply that the current DOW, the current national debt and the job numbers are the result of his own policies.

So the question is, does Trump own the economy now?
 
Not yet, there is always a lag. I'll let the experts wage in on just how long that lag is.
 
Cardinal said:
Five weeks into Trump's Presidency, the DOW has risen 1000 points since November 10, the unemployment is down to 4.9%, and just this morning Trump had this to tweet:

"The media has not reported that the National Debt in my first month went down by $12 billion vs a $200 billion increase in Obama first mo."

and

"Great optimism for future of U.S. business, AND JOBS, with the DOW having an 11th straight record close. Big tax & regulation cuts coming!"

Both of these seem to strongly imply that the current DOW, the current national debt and the job numbers are the result of his own policies.

So the question is, does Trump own the economy now?
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While unemployment is probably slower to effect, the Dow move is usually quicker to respond.
 
He owns the deficit(s) during his term and the portion of newly created debt during his term. The stock market is fairly irrational...
 
joG said:
While unemployment is probably slower to effect, the Dow move is usually quicker to respond.
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Trump is taking credit for what appears to be all positive indicators. Does he have a right to? I.E. Does he "own" the economy now?
 
Well, the DOW is probably up because of him and his aggressive spending/tax reform promises. Wall Street loves that talk these days.

Unemployment? There still has not been a U-3 report released that was tabulated since he took office (to my knowledge). So 'no' - he can not take credit for that, imo.

The national debt? I have no idea what he is talking about (I am not familiar with the numbers he is using). But considering he is talking about drastically raising spending and cutting taxes - there is little chance he will lower the national debt during his Presidency.


Is the economy his responsibility? Technically, from the next U-3 report forward...probably 'yes' imo.
 
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AlabamaPaul said:
He owns the deficit(s) during his term and the portion of newly created debt during his term. The stock market is fairly irrational...
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Regardless, Trump is using the stock market a metric of his success. Is he right to?
 
From what I've seen here, Bush II still owns the economy. Ask Vern. Vern knows.
 
humbolt said:
From what I've seen here, Bush II still owns the economy. Ask Vern. Vern knows.
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Is Trump right to take credit for the positive economic numbers?
 
Cardinal said:
Five weeks into Trump's Presidency, the DOW has risen 1000 points since November 10, the unemployment is down to 4.9%, and just this morning Trump had this to tweet:

"The media has not reported that the National Debt in my first month went down by $12 billion vs a $200 billion increase in Obama first mo."

and

"Great optimism for future of U.S. business, AND JOBS, with the DOW having an 11th straight record close. Big tax & regulation cuts coming!"

Both of these seem to strongly imply that the current DOW, the current national debt and the job numbers are the result of his own policies.

So the question is, does Trump own the economy now?
Click to expand...

Too early to tell what will happen under Trump. He talks "pro business"...... but I guess we will see.
 
Yes, in political terms he owns the economy now. It's pretty unfair considering the difference in starting points between himself and Obama, but life isn't always kind.
 
DA60 said:
The national debt? I have no idea what he is talking about (I am not familiar with the numbers he is using). But considering he is talking about drastically raising spending and cutting taxes - there is little chance he will lower the national debt during his Presidency.
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He is using the day to day debt numbers of the full debt(ie the ~20T debt). It is meaningless because it will go way up or way down as tax receipts come in, and planned big expenditures go out. You can find periods under all presidents where short term the debt goes down...until the next scheduled big expenditure hits. Since Trump has not passed a single spending or tax change, he has nothing to do with the level of debt anyway.
 
humbolt said:
From what I've seen here, Bush II still owns the economy. Ask Vern. Vern knows.
Click to expand...

basement gives a chuckle of recognition.jpg
 
Cardinal said:
Regardless, Trump is using the stock market a metric of his success. Is he right to?
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All Presidents do, but it is not a good indicator of overall economic health. Anything else you'd like to know?
 
Redress said:
He is using the day to day debt numbers of the full debt(ie the ~20T debt). It is meaningless because it will go way up or way down as tax receipts come in, and planned big expenditures go out. You can find periods under all presidents where short term the debt goes down...until the next scheduled big expenditure hits. Since Trump has not passed a single spending or tax change, he has nothing to do with the level of debt anyway.
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I figured it was something like that.

Man...he will take ANY data point and just throw it out there if it makes him look good.
 
AlabamaPaul said:
All Presidents do, but it is not a good indicator of overall economic health. Anything else you'd like to know?
Click to expand...

I'm not asking what "all presidents do," I'm asking if you believe he's right to.

RetiredUSN said:
Too early to tell what will happen under Trump. He talks "pro business"...... but I guess we will see.
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Trump not only appears to be taking credit for the positive indicators, but is even going so far as to criticize the media for not reporting the drop in debt during his first month, which strongly suggests that he believes he is the cause for the decreased debt. Was he correct in making those tweets? Does he "own" the economy now?
 
Cardinal said:
Is Trump right to take credit for the positive economic numbers?
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Trump can claim credit if he wants to. I believe it's limited to a more positive business outlook, and not anything more at this point. I think it's premature to make a judgement on the effects of his economic policies because very few of them are in place. We'll know more after a few quarters.
 
humbolt said:
Trump can claim credit if he wants to. I believe it's limited to a more positive business outlook, and not anything more at this point. I think it's premature to make a judgement on the effects of his economic policies because very few of them are in place. We'll know more after a few quarters.
Click to expand...

So is Trump wrong to take credit for it?

AlabamaPaul said:
He s free to take credit for anything he chooses...
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I'm not asking what he's "free" to do, I'm asking if you think he's accurate in doing so.
 
Cardinal said:
So is Trump wrong to take credit for it?



I'm not asking what he's "free" to do, I'm asking if you think he's accurate in doing so.
Click to expand...

What would you like the answer to be? You don't seem satisfied with any thus far...
 
Cardinal said:
So is Trump wrong to take credit for it?
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Aw, c'mon. It's Trump. Of course he's going to take credit. If we've learned anything over the decades, it's that when things go well the politicians take credit, and when things go wrong they blame others. Should he take credit? Sure. That doesn't mean the good news on any particular front is a result of his policies yet - the stock market is an exception, and I'm hopeful it will reflect a more sane position over time.
 
One universal truth rules out: when one doesn't want to publicly criticize or praise the act, take the side road and defend their right to do the act, as if the right was ever in question.
 
humbolt said:
Aw, c'mon. It's Trump. Of course he's going to take credit. If we've learned anything over the decades, it's that when things go well the politicians take credit, and when things go wrong they blame others. Should he take credit? Sure. That doesn't mean the good news on any particular front is a result of his policies yet - the stock market is an exception, and I'm hopeful it will reflect a more sane position over time.
Click to expand...

So what you're saying is, no, he doesn't own the economy now and taking credit for the positive indicators was inaccurate. Is that what you're saying?
 
Cardinal said:
Five weeks into Trump's Presidency, the DOW has risen 1000 points since November 10, the unemployment is down to 4.9%, and just this morning Trump had this to tweet:

"The media has not reported that the National Debt in my first month went down by $12 billion vs a $200 billion increase in Obama first mo."

and

"Great optimism for future of U.S. business, AND JOBS, with the DOW having an 11th straight record close. Big tax & regulation cuts coming!"

Both of these seem to strongly imply that the current DOW, the current national debt and the job numbers are the result of his own policies.

So the question is, does Trump own the economy now?
Click to expand...

The economy and unemployment is still attached to the shirttail of Obama's presidency...despite Trump's attempt to take credit. As the old saying goes, "the toe bone is connected to the foot bone, the foot bone is connected to the ankle bone....etc., etc."

Trump's presence alone...just ain't that influential over the current economy.

Gov. Brownback tried playing the hero in Kansas by doing what Trump intends to do (and already claiming to have done). The local economy is so bad that Dorothy doesn't want to click her heels and wind up back at her home in Kansas.
 
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