Trump Admin no longer forecasting 3% growth

[marke]

Wrong again. The financial crisis was NOT created by the dems, it was created by the repubs in 2001 - 2006. The first mortgage company to go broke was in early 2007, and the bad loans that wrecked it were issued in 2004, 2005, and 2006 under the repubs. Republican Fed Chair Greenspan later testified to congress that he had made a mistake. He thought that CEO's wanted to preserve their companies and they would not make wildly unstable decisions, so he did not have to regulate the mortgage instruments they were issuing. That was HIS MISTAKE. Greenspan retired in 2006, before the dems took over congress. His successor, Ben Bernanke was never charged with causing the financial collapse, it was Greenspan who failed to regulate adequately. And Greenspan admitted it.

The problem was clear in April 2007, witness:


By early 2007, when the dems took over congress, the bankrupcies had already started, and the subprime marketplace fostered by the repubs in 2004 - 2006, was imploding. You can't lay that on the dems in 2007 and after, the problem was already occurring when they took over the congress.

As I said, anyone can stimulate an economy. That is easy. The question is what negative side effects of the stimulus will occur, in the short run and/or in the long run, since both are important. The repubs overstimulated the economy, Greenspan took the Fed Funds rate down to 1%, they failed to regulate the mortgage and banking industry, and they let the financial sector implode and bring the whole economy down in recession.

Politicians create great problems for Americans and the country by lying, spinning, deceiving, and oppressing the truth. Granted, they do have selfish motivations for doing so but the damage they do to others by misrepresenting the truth is horrible.

Over-the-counter-derivatives and default swaps were two of the largest causes of the 2008 collapse of Wall Street, not greedy bankers, not republicans, not democrats, not banking policies of politicians per se, etc. The problem with the truth of what caused the Wall Street collapse is that so many millions of Americans simply cannot understand the fiscal details of the bad policies which led to the collapse. This is from Wikipedia and the causes of the 2008 collapse are detailed in a nutshell:

Commodity Futures Modernization Act of 2000

The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that officially ensured the deregulation of financial products known as over-the-counter derivatives. It was signed into law on December 21, 2000 by President Bill Clinton.
... These derivatives, including the credit default swap, are a few of the many causes of the financial crisis of 2008 and the subsequent 2008-2012 global recession.

 

[marke]

What were the other causes of the 2008 collapse?

Politicians create great problems for Americans and the country by lying, spinning, deceiving, and oppressing the truth. Granted, they do have selfish motivations for doing so but the damage they do to others by misrepresenting the truth is horrible.

Over-the-counter-derivatives and default swaps were two of the largest causes of the 2008 collapse of Wall Street, not greedy bankers, not republicans, not democrats, not banking policies of politicians per se, etc. The problem with the truth of what caused the Wall Street collapse is that so many millions of Americans simply cannot understand the fiscal details of the bad policies which led to the collapse. This is from Wikipedia and the causes of the 2008 collapse are detailed in a nutshell:

Commodity Futures Modernization Act of 2000

The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that officially ensured the deregulation of financial products known as over-the-counter derivatives. It was signed into law on December 21, 2000 by President Bill Clinton.
... These derivatives, including the credit default swap, are a few of the many causes of the financial crisis of 2008 and the subsequent 2008-2012 global recession.

The collapse of the housing bubble that was created by the CFMA in an effort to make it possible for more poor people to get home loans without sufficient credit. Money became available so fast and so easily that houses on the market became scarce, driving up the prices and increasing the building boom. When people began defaulting on their loans later in record numbers the whole booming housing industry came crashing down, bringing down Wall Street with it.

 

[Conservative]

Bush 43 doubled the national debt, and presided over the collapse of the financial system, leading to the worst recession since the great depression. He did nothing about NAFTA, or China, or NK.

Obama succeeded in bringing the US economy out of the worst recession in 70 years, and following the initial rescue he did NOT depend on gimmicks that could have boosted the economy temporarily, but would have had negative consequences down the line.

The Trump tax cuts stimulated initially, but after a 2018 - 2.0% Q1, 4.2% Q2, 3.4% Q3 and 2.2% in Q4 (which typically is a good quarter), for 2.9% for the year, just matching 2015. However the Fed is forecasting GDP to grow by only 2.1% in 2019, and that has been the norm under Obama after the recovery took hold. It looks like the tax cut has been more of a sugar high under Trump, not a permanent boost to the economy.

Is there ever going to come a time when you liberals admit you are wrong on any subject especially the economy? What exactly did Obama do to bring us out of recession that ended in June 2009? Yes, Bush doubled the debt but then again so did Obama with the difference being Bush added 4.9 trillion to the debt but Obama 9.3 trillion, see any difference there? you like most liberals want it both ways, you want to claim that Bush created the 2009 deficit without an approved budget but then claim Obama brought us out of recession with no spending. That is nothing but partisan liberal rhetoric on your part

Seems that post 126 and 127 rebukes you completely as both are accurate. the lack of financial regulation was in the late 90's not after Bush took office.

How about being the first liberal in this forum to be mature enough to admit you are wrong?

 

[Born Free]

Bush 43 doubled the national debt, and presided over the collapse of the financial system, leading to the worst recession since the great depression. He did nothing about NAFTA, or China, or NK.

Your lying, therefore you have no credibility, Bush was heavily invested in the 6 party talks. Look it up.

And Obama borrowed 10 trillion doubling the national debt and we got in exchange the worst economic recovery in US History

Obama succeeded in bringing the US economy out of the worst recession in 70 years, and following the initial rescue he did NOT depend on gimmicks that could have boosted the economy temporarily, but would have had negative consequences down the line.

Borrowing 10 Trillion in just 8 yrs and all we get is the worst economic recovery in US History

The Trump tax cuts stimulated initially, but after a 2018 - 2.0% Q1, 4.2% Q2, 3.4% Q3 and 2.2% in Q4 (which typically is a good quarter), for 2.9% for the year, just matching 2015. However the Fed is forecasting GDP to grow by only 2.1% in 2019, and that has been the norm under Obama after the recovery took hold. It looks like the tax cut has been more of a sugar high under Trump, not a permanent boost to the economy.

Yes I know your pissed that under Trump we have an unemployment rate of 3.7%, you would like to see the unemployment rate at 10% under Trump. You hate that under Trump we've had 3% GDP, that really pisses you off. Middle class wages are going up under Trump and you hate that. You hate the fact that more minorities are working than ever before. I know you really hate that under Trump the Stock Market is at an all time high. Christ I would go on and on about Trumps successes that you despise because you see the people being more prosperous under Trump.

And lets not forget Obama bailed out GM and we taxpayers lost 11.2 billion. And he sinks 535 million into solyndra that we taxpayers lost every dime. Obama was and is an idiot.

 

[finebead]

Your opinion noted as is your loyalty to liberalism and the failed economic policies of the democrats. not worth the effort reliving the financial crisis but the bubble started in the late 90's when Bush was still governor of TX. Failure to regulation the banks had little to do with the crisis as "your" President signed Glass-Steagall

Stunning it how easy it is to indoctrinate some people and how loyal you are even when the facts don't support your claims

You are the one that facts don't support. In fact, you have presented NO facts, just your shallow opinion, unsupported.

But here is republican Alan Greenspan admitting his error in failure to regulate the mortgage industry in the runup to the collapse:

October 23, 2008 - Alan Greenspan, the former Federal Reserve chairman, said on Thursday the credit crisis had exceeded anything he had imagined and admitted he was wrong to think that banks would protect themselves from financial market chaos.

“I made a mistake in presuming that the self-interest of organisations, specifically banks and others, was such that they were best capable of protecting their own shareholders,” he said.

In the second of two days of tense hearings on Capitol Hill, Henry Waxman, chairman of the House of Representatives, clashed with current and former regulators and with Republicans on his own committee over blame for the financial crisis.

Mr Waxman said Mr Greenspan’s Federal Reserve – along with the Securities and Exchange Commission and the US Treasury – had propagated “the prevailing attitude in Washington…that the market always knows best.”

Mr Waxman blamed the Fed for failing to curb aggressive lending practices, the SEC for allowing credit rating agencies to operate under lax standards and the Treasury for opposing “responsible oversight” of financial derivatives.

Christopher Cox, chairman of the Securities and Exchange Commission, defended himself, saying that virtually no one had foreseen the meltdown of the mortgage market, or the inadequacy of banking capital standards in preventing the collapse of institutions such as Bear Stearns.

Mr Waxman accused the SEC chairman of being wise after the event. “Mr Cox has come in with a long list of regulations he wants…But the reality is, Mr Cox, you weren’t doing that beforehand.”

Mr Cox blamed the fact that congressional responsibility was divided between the banking and financial services committees, which regulate banking, insurance and securities, and the agriculture committees, which regulate futures.

“This jurisdictional split threatens to for ever stand in the way of rationalising the regulation of these products and markets,” he said.

Mr Greenspan accepted that the crisis had “found a flaw” in his thinking but said that the kind of heavy regulation that could have prevented the crisis would have damaged US economic growth. He described the past two decades as a “period of euphoria” that encouraged participants in the financial markets to misprice securities.

He had wrongly assumed that lending institutions would carry out proper surveillance of their counterparties, he said. “I had been going for 40 years with considerable evidence that it was working very well”.
Subscribe to read | Financial Times

Chris Cox said virtually nobody had foreseen the meltdown of the mortgage market, but he was wrong. A prominent list is at the link below:
https://www.intheblack.com/articles...-and-why-we-should-listen-to-them-from-now-on

The republicans held the power in congress through the first 6 years of Bush 43 presidency, and they cratered the economy. Republican Greenspan led the Fed in that time and he admits he failed to properly regulate the mortgage and banking, he "found a flaw" in his thinking.

Yes, growth probably would have been slower with more regulation, but if the payoff is a long term sustainable system that does not crash and wipe out vast sums of the populations assets, I would rather live in the long term stable system. Boom and bust sucks.

 

[Conservative]

You are the one that facts don't support. In fact, you have presented NO facts, just your shallow opinion, unsupported.

But here is republican Alan Greenspan admitting his error in failure to regulate the mortgage industry in the runup to the collapse:






Chris Cox said virtually nobody had foreseen the meltdown of the mortgage market, but he was wrong. A prominent list is at the link below:
https://www.intheblack.com/articles...-and-why-we-should-listen-to-them-from-now-on

The republicans held the power in congress through the first 6 years of Bush 43 presidency, and they cratered the economy. Republican Greenspan led the Fed in that time and he admits he failed to properly regulate the mortgage and banking, he "found a flaw" in his thinking.

Yes, growth probably would have been slower with more regulation, but if the payoff is a long term sustainable system that does not crash and wipe out vast sums of the populations assets, I would rather live in the long term stable system. Boom and bust sucks.

I am going to remind you this is 2019 and the reality remains GDP growth this past year was 1.01 trillion dollars and it serves no purpose to relive the financial crises because nothing is going to change your mind about the cause. Trump inherited an economy that showed GDP growth of 577 billion dollars and almost doubled it in two years. The larger the economy the less relevant 3% growth is as actual dollars matter more than percentage growth.

 

[finebead]

I am going to remind you this is 2019 and the reality remains GDP growth this past year was 1.01 trillion dollars and it serves no purpose to relive the financial crises because nothing is going to change your mind about the cause. Trump inherited an economy that showed GDP growth of 577 billion dollars and almost doubled it in two years. The larger the economy the less relevant 3% growth is as actual dollars matter more than percentage growth.

I will remind you that Trump is also growing the deficit, from 500 billion to 800 billion in 2 years, and projected at 900 billion this year, nearly double in 3 years. Obama was handed a trillion dollar deficit from Bush and he cut it in half over 8 years. Trump will nearly double the deficit in 3 years, is on track to do it in 4 years. Excessive debt will eventually impact the value of the dollar negatively, and that usually brings on inflation. I see the repubs on track to screw up the economy again. Slow and steady is a better way to go than boom and bust. I am a fiscal conservative, and the repubs are no longer. They just borrow and spend.

 

[Conservative]

I will remind you that Trump is also growing the deficit, from 500 billion to 800 billion in 2 years, and projected at 900 billion this year, nearly double in 3 years. Obama was handed a trillion dollar deficit from Bush and he cut it in half over 8 years. Trump will nearly double the deficit in 3 years, is on track to do it in 4 years. Excessive debt will eventually impact the value of the dollar negatively, and that usually brings on inflation. I see the repubs on track to screw up the economy again. Slow and steady is a better way to go than boom and bust. I am a fiscal conservative, and the repubs are no longer. They just borrow and spend.

I know this doesn't resonate with you but we had four interest rate hikes in 2018 which drove up the interest expense on the debt that Trump inherited. Let me know when the truck deficit gets over a trillion dollars as Obama had four trillion deficits and added 9.3 trillion to the debt and I don't remember you being bothered by that?

Sent from my SAMSUNG-SM-G930A using Tapatalk

 

[Conservative]

I will remind you that Trump is also growing the deficit, from 500 billion to 800 billion in 2 years, and projected at 900 billion this year, nearly double in 3 years. Obama was handed a trillion dollar deficit from Bush and he cut it in half over 8 years. Trump will nearly double the deficit in 3 years, is on track to do it in 4 years. Excessive debt will eventually impact the value of the dollar negatively, and that usually brings on inflation. I see the repubs on track to screw up the economy again. Slow and steady is a better way to go than boom and bust. I am a fiscal conservative, and the repubs are no longer. They just borrow and spend.

Oh by the way you keep claiming Bush handed Obama trillion-dollar deficits how do you explain that bush had no budget Authority to create those deficits and if Bush created that deficit how did Obama bring us out of recession without any spending?

Sent from my SAMSUNG-SM-G930A using Tapatalk

 

[beefheart]

It is fascinating to watch liberal progressive "americans" crow gleefully about the countries potential woes.

No glee, just pointing out the latest round of the utter stupidity of the trumpanzies.

Takes a lot more cognitive dissonance to be you these days, doesn't it...

 

[finebead]

Politicians create great problems for Americans and the country by lying, spinning, deceiving, and oppressing the truth. Granted, they do have selfish motivations for doing so but the damage they do to others by misrepresenting the truth is horrible.

Over-the-counter-derivatives and default swaps were two of the largest causes of the 2008 collapse of Wall Street, not greedy bankers, not republicans, not democrats, not banking policies of politicians per se, etc. The problem with the truth of what caused the Wall Street collapse is that so many millions of Americans simply cannot understand the fiscal details of the bad policies which led to the collapse. This is from Wikipedia and the causes of the 2008 collapse are detailed in a nutshell:

Commodity Futures Modernization Act of 2000

The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that officially ensured the deregulation of financial products known as over-the-counter derivatives. It was signed into law on December 21, 2000 by President Bill Clinton.
... These derivatives, including the credit default swap, are a few of the many causes of the financial crisis of 2008 and the subsequent 2008-2012 global recession.

The financial crisis had many causes, no doubt. Poor mortgages that should not have been granted and could not be repaid, stupid consumers who believed the lying mortgage brokers who told them when the adustable rate mortgage reset it would never get as high as stated in the agreement (then they did), lying mortgage brokers, lying bond rating agencies that rated pools of subprime mortgages as AAA bonds, appraisers who lied and over estimated the home value to make a big payday for house flippers, the investment banks that bought their own subprime mortgage vendors to feed them a constant flow of subprime mortgages to create CMO's that the rating agencies would turn crap into gold.

And by the way, the repubs held the house and the senate in '99 - 2000, and they passed the CFMA.

 

[finebead]

Your lying, therefore you have no credibility, Bush was heavily invested in the 6 party talks. Look it up.

And Obama borrowed 10 trillion doubling the national debt and we got in exchange the worst economic recovery in US History



Borrowing 10 Trillion in just 8 yrs and all we get is the worst economic recovery in US History



Yes I know your pissed that under Trump we have an unemployment rate of 3.7%, you would like to see the unemployment rate at 10% under Trump. You hate that under Trump we've had 3% GDP, that really pisses you off. Middle class wages are going up under Trump and you hate that. You hate the fact that more minorities are working than ever before. I know you really hate that under Trump the Stock Market is at an all time high. Christ I would go on and on about Trumps successes that you despise because you see the people being more prosperous under Trump.

And lets not forget Obama bailed out GM and we taxpayers lost 11.2 billion. And he sinks 535 million into solyndra that we taxpayers lost every dime. Obama was and is an idiot.

The 6 party talks accomplished nothing, like I said, Bush did nothing.

When the republicans crater the economy, it takes deficit spending to stop the implosion. You cannot get the economy growing again until you can stop it from going down. Obama stopped it from going down, the recession ended by Q3 of 2009, it had been a devastating recession. Then without resorting to excessive stimulus that would have been long term negative to the economy, he worked on bringing down the deficit, which he successfully cut from Bush's trillion dollar deficit he handed to Obama, down to 500 billion in Obama's last year. Obama produced a sustainable 2% growth in GDP, while reducing the deficit and not subjecting the economy to long term risks.

 

[marke]

The financial crisis had many causes, no doubt. Poor mortgages that should not have been granted and could not be repaid, stupid consumers who believed the lying mortgage brokers who told them when the adustable rate mortgage reset it would never get as high as stated in the agreement (then they did), lying mortgage brokers, lying bond rating agencies that rated pools of subprime mortgages as AAA bonds, appraisers who lied and over estimated the home value to make a big payday for house flippers, the investment banks that bought their own subprime mortgage vendors to feed them a constant flow of subprime mortgages to create CMO's that the rating agencies would turn crap into gold.

And by the way, the repubs held the house and the senate in '99 - 2000, and they passed the CFMA.

I have no problem believing republicans in joint collusion with democrats unleashed the nightmare legislation which turned the mortgage industry into a mob rush to make billions off of screwing poor people, home buyers, the government, banks, the American public, and people of other developing nations of the world.

 

[Born Free]

The 6 party talks accomplished nothing, like I said, Bush did nothing.

Yeah Clinton gave NK billions and all NK did was laugh all the way to the bank. Clinton did less than nothing, by giving NK billions of taxpayer money. And I ask what did we get for it????? Yes that is a question

When the republicans crater the economy, it takes deficit spending to stop the implosion. You cannot get the economy growing again until you can stop it from going down. Obama stopped it from going down, the recession ended by Q3 of 2009, it had been a devastating recession.

I repeat Obama borrowed 10 trillion in 8 yr and doubled our national debt and all we got for it was the "worst economic in US History". Now for Trump to do as Obama did, Trump would have to borrow 20 trillion in 8 yrs to match Obama.

Then without resorting to excessive stimulus that would have been long term negative to the economy, he worked on bringing down the deficit

Yeah the deficit that exploded under Obama and then you give him kudos for bringing it down. BS, the fact is Obama borrowed 10 Trillion and doubled our national debt.

which he successfully cut from Bush's trillion dollar deficit he handed to Obama, down to 500 billion in Obama's last year. Obama produced a sustainable 2% growth in GDP, while reducing the deficit and not subjecting the economy to long term risks.

First your numbers are off, Obama over his 8 yrs averaged 1.5125% GDP. And Obama sure did leave us subjecting the economy to long term risks. Like leaving us with a 20 Trillion in debt.

Barack Obama Is Now The Only President In History To Never Have A Year Of 3% GDP Growth.

Barack Obama Is Now The Only President In History To Never Have A Year Of 3% GDP Growth | Zero Hedge

 

[finebead]

I repeat Obama borrowed 10 trillion in 8 yr and doubled our national debt and all we got for it was the "worst economic in US History". Now for Trump to do as Obama did, Trump would have to borrow 20 trillion in 8 yrs to match Obama.


Yeah the deficit that exploded under Obama and then you give him kudos for bringing it down. BS, the fact is Obama borrowed 10 Trillion and doubled our national debt.



First your numbers are off, Obama over his 8 yrs averaged 1.5125% GDP. And Obama sure did leave us subjecting the economy to long term risks. Like leaving us with a 20 Trillion in debt.

Barack Obama Is Now The Only President In History To Never Have A Year Of 3% GDP Growth.

Barack Obama Is Now The Only President In History To Never Have A Year Of 3% GDP Growth | Zero Hedge

Part of a presidents ability to put up "statistics" on the economy involves the STATE of the economy when he begins his administration.

Bush turned over a DISASTER to Obama. Eight years into the Bush presidency, the financial system IMPLODED due to HIS and the republican mismanagement of the economy from 2001-2006. I showed the first bankruptcy of a subprime mortgage company (New Century) was in April 2007. Just what do you think the dems did between Jan. and April to cause that? Nothing. It was a result of the failure to regulate the financial system by the repubs. I have also shown Greenspan admit his error publicly to congress, he thought the companies would act properly in order to remain in business, but he was wrong. Greenspan admits he mistakenly under-regulated the system. Eight year in to the Bush presidency, Bush totally owns the financial collapse that occurred. If anyone thought Clinton era policy was a partial cause, Bush and the repub congress should have changed the policy. It is on Bush, the financial collapse.

Obama turned over a stable and growing economy to Trump, one that was recovered from the economic Armageddon that Bush left him.

Entirely different situation. Nobody in their right mind would expect the same 8 year economic performance from such dramatically different starting points. Where you start matters.

 

[Born Free]

Part of a presidents ability to put up "statistics" on the economy involves the STATE of the economy when he begins his administration.

Bush turned over a DISASTER to Obama. Eight years into the Bush presidency, the financial system IMPLODED due to HIS and the republican mismanagement of the economy from 2001-2006. I showed the first bankruptcy of a subprime mortgage company (New Century) was in April 2007. Just what do you think the dems did between Jan. and April to cause that? Nothing. It was a result of the failure to regulate the financial system by the repubs. I have also shown Greenspan admit his error publicly to congress, he thought the companies would act properly in order to remain in business, but he was wrong. Greenspan admits he mistakenly under-regulated the system. Eight year in to the Bush presidency, Bush totally owns the financial collapse that occurred. If anyone thought Clinton era policy was a partial cause, Bush and the repub congress should have changed the policy. It is on Bush, the financial collapse.

Obama turned over a stable and growing economy to Trump, one that was recovered from the economic Armageddon that Bush left him.

Entirely different situation. Nobody in their right mind would expect the same 8 year economic performance from such dramatically different starting points. Where you start matters.

That is all fine and good but the truth is Obama left this country 20 trillion in debt, 10 trillion more than the day he took office, and I don't see a damn thing he did except get the honers of presiding over the Worst Economic Recovery in US History. And do you ever wonder how are we going to pay back that 10 trillion that he added to the national debt. What pain are we going to endure paying that back.

 

[Conservative]

I don't see 1.01 trillion dollar growth in 2018 a slumping economy just like I understand it is dollar growth that matters not percentage change

GDP Growth 2013 to 2018
[TABLE="width: 192"]
[TR]
[TD]2013
[/TD]
[TD]16784.9
[/TD]
[TD][/TD]
[/TR]
[TR]
[TD]2014
[/TD]
[TD]17521.7
[/TD]
[TD]736.8
[/TD]
[/TR]
[TR]
[TD]2015
[/TD]
[TD]18129.3
[/TD]
[TD]607.6
[/TD]
[/TR]
[TR]
[TD]2016
[/TD]
[TD]18707.2
[/TD]
[TD]577.9
[/TD]
[/TR]
[TR]
[TD]2017
[/TD]
[TD]19485.4
[/TD]
[TD]778.2
[/TD]
[/TR]
[TR]
[TD]2018
[/TD]
[TD]20494.1
[/TD]
[TD]1008.7
[/TD]
[/TR]
[/TABLE]

 

[akyron]

Takes a lot more cognitive dissonance to be you these days, doesn't it...

Oh the irony.......

 

[finebead]

That is all fine and good but the truth is Obama left this country 20 trillion in debt, 10 trillion more than the day he took office, and I don't see a damn thing he did except get the honers of presiding over the Worst Economic Recovery in US History. And do you ever wonder how are we going to pay back that 10 trillion that he added to the national debt. What pain are we going to endure paying that back.

Obama rescued the economy from the worst recession since the great depression, and that is a huge accomplishment.

Bush 43 turned over a $1 trillion annual deficit, and after Obama did deficit spending to pull the economy out of recession, he slowly chipped away at the deficit and got it down in half to $500 billion a year.

Trump is on track to double the annual deficit to a trillion a year again, at the end of his first term.

Obama had to work the unemployment rate down from 10%, all the way to 4.5%, an improvement of 5.5%, he cut it in half.

Trump has cut the unemployment rate from 4.5% to 3.8%, meager improvement.

 

[Conservative]

Obama rescued the economy from the worst recession since the great depression, and that is a huge accomplishment.

Bush 43 turned over a $1 trillion annual deficit, and after Obama did deficit spending to pull the economy out of recession, he slowly chipped away at the deficit and got it down in half to $500 billion a year.

Trump is on track to double the annual deficit to a trillion a year again, at the end of his first term.

Obama had to work the unemployment rate down from 10%, all the way to 4.5%, an improvement of 5.5%, he cut it in half.

Trump has cut the unemployment rate from 4.5% to 3.8%, meager improvement.

How did Obama rescue the country from the "worst recession since the Great Depression?" Seems Bush is responsible for the 2009 deficit thus no Obama spending therefore how did he do that?

What Ended the Great Recession?

Obama took the unemployment UP before taking it down, how do you explain going from 146 million in January 2008 to 152 million gaining 6 million NEW jobs is a success? You see a job lost that returns isn't a new job created. Amazing re-write of history

 

[Born Free]

Obama rescued the economy from the worst recession since the great depression, and that is a huge accomplishment.

Bush 43 turned over a $1 trillion annual deficit, and after Obama did deficit spending to pull the economy out of recession, he slowly chipped away at the deficit and got it down in half to $500 billion a year.

Trump is on track to double the annual deficit to a trillion a year again, at the end of his first term.

Obama had to work the unemployment rate down from 10%, all the way to 4.5%, an improvement of 5.5%, he cut it in half.

Trump has cut the unemployment rate from 4.5% to 3.8%, meager improvement.

What you completely ignore is the most biggest error in your logic. Obama borrowed 10 Trillion in just 8 yrs, doubling the national debt. And all we got for it was the worst economic recovery in US History.

 

[bongsaway]

It is fascinating to watch liberal progressive "americans" crow gleefully about the countries potential woes.

It's sad when some folks point out the truth and others defend the lies by blaming the truth sayers.

 

[akyron]

It's sad when some folks point out the truth and others defend the lies by blaming the truth sayers.

Happens all the time.

 

[finebead]

How did Obama rescue the country from the "worst recession since the Great Depression?" Seems Bush is responsible for the 2009 deficit thus no Obama spending therefore how did he do that?

What Ended the Great Recession?

Obama took the unemployment UP before taking it down, how do you explain going from 146 million in January 2008 to 152 million gaining 6 million NEW jobs is a success? You see a job lost that returns isn't a new job created. Amazing re-write of history

With an elementary understanding of how the economy works, you would know the answer. Unemployment is a lagging indicator and it trails the economy by a few quarters to a year. That is why, while unemployment rose during the first year of Obama's presidency, it was due to Bush's Great Recession.

Lagging indicators

Lagging indicators are indicators that usually change after the economy as a whole does. Typically the lag is a few quarters of a year. The unemployment rate is a lagging indicator: employment tends to increase two or three quarters after an upturn in the general economy

Economic indicator - Wikipedia

 

[finebead]

What you completely ignore is the most biggest error in your logic. Obama borrowed 10 Trillion in just 8 yrs, doubling the national debt. And all we got for it was the worst economic recovery in US History.

Let's see. Bush cut taxes by $200 billion dollars a year in his two tax cuts ('01 and '03). Then he doubled defense spending from $300 billion a year to $600 billion a year. That is $500 billion of deficit per year that is directly attributable to Bush 43 policy. Then Bush 43 cratered the economy and caused a loss of income tax revenue for 2 years of of the Obama presidency, costing $1 trillion tax shortfall. That is $5 trillion of deficit right there directly attributable to Bush 43. Obama had a $1 trillion stimulus, so now we are accounting for 6 trillion of the 10 trillion. Throw in normal inflation in govt. spending and you account for another trillion or two. But at least half of Obama's debt came directly from Bush policy, and Obama had to start in a deep economic hole dug by Bush.