Kevin Hassett blows holes through Obama Economy

Seems Like Hassett set the record straight concerning Obama so called economy…trying to take credit for something that he never had any control over.

You can watch his press conference here.

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What did he say?

Charts and graphs of how investment started the moment Trump won…adding hundreds of billion of dollars to economy. How equipment sales shot up, small business investment all jumped sharply the moment Trump won. :rofl:

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It’s hard to imagine how you can claim a President of 8 years didn’t have an effect on the economy.

Conan cherry picking…as usual.


Lol I’ll bet that was hilarious.

President can…as in Obama case it was negative force on our economy.

Obama lost…Trump gain.

That Trump was wrong when he made that “100 year” claim.

Oh he said other stuff to, but that’s what will get him fired.

Now, I didn’t watch the briefing, I listened to it, so I can’t say authoritatively, but it sounded to me like he has a bunch of cherry-picked stats that made it look like Trump was a mystical “magic wand” if you will that made the economy all better the instant he was elected - before he even got into office.

He also claimed this totally had nothing to do with Obama’s speech and he totally had all this read weeks ago.

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This isn’t about me…it’s about how all the economic indicators did 180 degree turn around the moment Trump was elected.

Business investment is almost as high as it was in 2015.

Kudos. Trump is getting close.

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He presented a lot of charts, some of which show marginal gains, some of which so what looks like trends turning around, but all of which are over a pretty short time frame and some of which that look cyclical. A jump in business optimism when a Republican wins is not unexpected. Promises of tax cuts tend to do that.

This can all be true but doesn’t change some core points. One is that every trend from the end of the recession to today shows a pretty continuous line, such as unemployment rate. Government stimulus typically always produces growth in the GDP, which was the entire concept behind the ARRA. Stimulus is not exactly needed when the economy is doing well, and that’s when you should probably focus more on the deficit.

So again it comes down to what you care more about, the GDP or the deficit in times like this. And what do you consider a good economy? High stock prices mean a lot for some people, but wage growth means more to most people. Wages have been flat against inflation for years now.

Lol I checked some of his talk on Twitter. Big amateurish very short term “graphs”, and you see that big snicker on his face? Dude is trying not to break out laughing at the nonsense they are forcing him to say. Thanks for the chuckles, Conan!

We will see Lucy. In 2022 you libs will still be saying it’s Obama economy.

It’s how libs roll.

His last chart showed real time data v FORECASTS while completely cutting out any trends from the Obama years to compare against.

The other two graphs compared 18 months of Trump with FOUR YEARS of Obama to set the trend line…which tends to smooth out some of the more cyclical things like the “employment in the goods sector” graph.

There’s nothing in those graphs that “poke holes theough the Obama economy” or show any massive inflection point at the election.

For more likely you’ll be claiming the stock market down turn is “Fake news.”

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The question will be. Do we want to have strong economic growth or do we want to go back to Obama era and his lost decade.

I think American people will choose continue growth and economic expansion.

It’s just weird to me that people don’t understand the economy is slow moving, and it takes years for some policies to develop and take shape.

Monetary policy can be quick acting and help avert a disaster, such as the development of the term auction facility, whereas some fiscal policy such as the partisan brinkmanship that led to the downgrading of US credit rating can be a sleeper action that blows up years or decades later.

A massive chunk of the deficit is still the result of George Bush’s actions, and the next president will inherit an economy that’s been shaped for two decades by near zero interest rates, massive military spending, financed wars and growing health care costs. We don’t even know how long the effects of these random trade wars will last, who will win and who will definitively lose.


Unemployment was heading down - did that reverse?

GDP was positive - did that reverse?

The deficit was shrinking - er…yeah, that reversed.

Under Trump

Blue-collar jobs are growing at their fastest rate in more than 30 years, helping fuel a hiring boom in many small towns and rural areas that are strong supporters of President Trump ahead of November’s midterm elections.

This is Washington Compost reporting this.

Jobs in goods-producing industries — mining, construction and manufacturing — grew 3.3 percent in the year preceding July, the best rate since 1984, according to a Washington Post analysis.

Blue-collar jobs, long a small and shrinking part of the U.S. economy, are now growing at a faster clip than those in the nation’s much larger service economy. Many factors collided to produce the blue-collar boom. Some are linked to short-term boom-and-bust cycles, but others may endure.

The rapid hiring in blue-collar sectors is delivering benefits to areas that turned out heavily for Trump in the 2016 election, according to the Brookings Institution, a shift from earlier in this expansion, when large and midsize cities experienced most of the gains.

You know…the areas where you libs insure us that will never recover…the areas that you tried to drive em out of work and out of rural areas to libs enclaves.

This isn’t good for your hopes is it libs?

How are you going to spin this other then it is Obama economy…which was lost decade.

I do not believe America people will support going back to your era in time.

Rush and Sean were blaming Obama for Bush’s recession before Obama ever even took office. Are you calling them libs?

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