Have you seen this? Obama is running around desperate to grab credit for the Trump economy. It’s really embarrassing. Business leaders give credit to the Trump tax cuts and regulation cuts. Obama would have you believe that it is due to some unnamed policy he put into effect 5 years ago. Remember when he blamed Bush for six years for everything wrong in his administration? So this goofball claims that everything bad that happens is somebody else’s fault and everything good is because of him. Jealousy is not attractive Barack. Don’t embarrass yourself.
I thought for things pathetic yesterday you were going to talk about Trump saying he had nothing to do and watched Obama’s speech and talked about Obama’s crowd size. Now that’s pathetic.
What happened is essentially what most of us with working brains figured would happen.
The steady growth numbers of the Obama years, which were constantly derided and nit picked by Republicans, would suddenly become amazing and record breaking the moment a Republican took over. The stock market certainly jumped a bit, but other than that it’s really just continuing on the same trajectory it was.
If not for his trade policies, he would have. 3Q growth would have been 5.0% had the net effect of trade just been what it had averaged since 2015.
The contribution to GDP of net exports was the lowest in 33 years… -1.78 points.
And part of the 3.5% growth in the third quarter was not, in fact, companies responding to actual growth opportunities, but compnies instead rushing to build inventories to try and sell before tariffs took effect.
And since the net effect of Trump’s trade war has thus far been only modest changes to some of our existing trade agreements (the ones in the Pacific we could have had simply by remaining in the TPP), there is scant evidence Trump’s trade war is going to net long-term benefits to the US economy.
So Trump piled on pain for uncertain or modest benefits in the future.
No one can deny the power of Trump. We went from 42% unemployment down to around 4% on Jan 20th, 2017. That’s worthy of a parade, too bad with so many people working that the parade would be sparsely attended.
What parameters are you using to proclaim that you are right. The GDP numbers are just as stable within the same range as the Obama years. The President has yet to average 3% annual gdp. The employment numbers are the same. The participation rate is the same.
Trump is following trends.
That being said however, those who proclaimed doom and gloom and economic collapse were just as wrong as you were.
Almost as if we don’t need to break the bank with trillions in tax breaks for the ultra rich or slash regulations that protect consumers in order to see steady economic growth.