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MoBuffs

Joined: 10/1/14 Posts: 721
Likes: 489


Forgive me for repeating myself but Trump's OVERALL economic performance..


is no better - and likely will be worse before it's all over - than Barack Obama's. The last seven years of Obama's presidency GDP averaged about 2.2%. Obviously it's unfair to factor in his first couple of years since he inherited the worst economy since the Great Depression from Republican George Bush. I was in the bond business at the time and can tell you the corporate bond market was on the verge of collapse. I should also add that Obama received no help at all from a Republican-controlled Congress fo fiscal stimulus initiatives like middle class tax breaks or infrastructure packages. GDP under Trump, which obviously got a substantial but fading boost from a tax giveaway to the super wealthy and corporations, has averaged about 2.5% annualized through the first half of this year. Monthly job creation, as I'm sure you know, has been very comparable. The unemployment rate has been dropping about 0.75% each year since 2010 as the labor force continues to shrink. The stock market, since you brought it up, as measured by the S&P 500 soared 113% during Obama's eight years. It's increased 29% (as of today) under Trump. Again pretty comparable returns. The major difference in performance involves the budget deficit - that nasty but important number which measures the financial health of a country. I know you agree with most rational people that budget deficits are a critical factor which must be considered when evaluating OVERALL economic performance. When Obama took office he inherited a $1.4 trillion deficit from George Bush. Despite having to finance various bailouts, record unemployment benefits, related expenses and declining tax receipts due to the horrendous economy he inherited, Obama got the deficit as low as $440 billion in 2015. It was $666 billion when he left office. Obama made plenty of mistakes (as we all do) but he got this right and deserves credit. Today many economists are predicting the budget deficit under Trump will exceed one trillion by the end of this year. If the economy downshifts big time as Trump's impulsive and poorly-conceived trade wars intensify globally, the deficit could explode to unfathomable heights! Hopefully, the majority of Americans next November will realize the Republican party (who I used to consider myself a member of) have once again been fiscally irresponsible and once again the country will need a Democrat to clean their mess up.

(In response to this post by Colo Spgs Buff)

Posted: 08/02/2019 at 9:37PM



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Current Thread:
  Supposed to cut when not booming. ** -- 241Volcano 08/02/2019 3:16PM
  Precautionary, I guess. ** -- hawg1 08/02/2019 3:45PM
  How mant cuts during Obama years? ** -- Colo Spgs Buff 08/02/2019 4:41PM
  Obama had 1.6% growth in his last year in office -- Colo Spgs Buff 08/02/2019 3:17PM
  How have you taken the roaring deficit into account? -- buffaloaded 08/02/2019 5:15PM
  You know it bugs me. But again, Medicare for All -- Colo Spgs Buff 08/02/2019 5:19PM
  Do you think that most Democrats want Medicare for all? -- The Midnight Toker 08/02/2019 7:17PM
  Totally agree....."imagine there were no wars"... -- Gateway 08/02/2019 7:59PM
  Add decriminalization of immigration. ** -- hawg1 08/02/2019 7:58PM
  My sources are documented. -- Colo Spgs Buff 08/02/2019 5:10PM
  Your links contradict your claims... -- Pantero 08/02/2019 7:37PM
  Dont break anything out. Go by numbers listed. -- Colo Spgs Buff 08/03/2019 09:01AM
  Just google "2018 stock market performance"... -- Pantero 08/02/2019 8:44PM
  1.6. I’m not seeing that number. ** -- hawg1 08/02/2019 3:39PM
  Here you go -- Colo Spgs Buff 08/02/2019 4:40PM
  Very articulate. No response from CSBuff or his peers? -- cswilliam 08/02/2019 02:09AM
  Please make check payable to Trump Reelection 2020 -- Colo Spgs Buff 08/02/2019 3:20PM
  Excellent - Thank you ** -- Buffs4Ever 08/01/2019 11:19PM
  Great post! Should be required reading! ** -- Ralphie Bruber 08/01/2019 2:39PM
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