I just love it when Don the Con brags about the unemployment rate.
Sure the numbers are great but why did he always say that the way the unemployment numbers were calculated during the Obama administration didn’t show the true picture?
Aren’t the numbers calculated the same way now as they were then?
--- rooster, wrong. Trump lags behind his predecessors on economic growth [...] The Early Economic Records of Presidents from Kennedy to Trump President GDP Business Investment Investment in Equipment Kennedy 7.0% 8.3% 14.2% Johnson 6.3% 10.7% 11.9% Nixon 0.0% -1.6% -0.3% Carter 2.7% 8.2% 12.2% Reagan -2.1% 3.0% -3.0% Bush-1 2.6% 0.5% -0.2% Clinton 3.5% 7.7% 13.5% Bush-2 1.1% -4.7% -6.1% Obama 2.2% 1.5% 14.7% Trump 2.6% 5.9% 9.0%
Source: Bureau of Economic Analysis. These measures represent annual growth rates of real GDP, business fixed investment, and investment in equipment over the three quarters from each president’s third, fourth and fifth quarters in office. [...] So, Trump devoted much of his first six months in office to rolling back regulations and much of the next months on his single major legislative achievement, sharp reductions in taxes. The table above shows what has happened to business investment generally and to new investments in equipment over the last three quarters, again compared to the results in comparable periods under his predecessors .. https://www.bea.gov/iTable/iTable.cfm?reqid=19&step=3&isuri=1&1910=x&0=-99&1921=survey&1903=141&1904=1948&1905=2018&1906=q&1911=0#reqid=19&step=3&isuri=1&1910=x&0=-99&1921=survey&1903=141&1904=1948&1905=2018&1906=q&1911=0 . On overall business investment, Trump’s record again beats the four presidents who faced recessions [that emphasis added here] in their first year in office (Obama, Bush-2, Reagan and Nixon), plus Bush-1)—hardly a heavy lift—and trails his four other predecessors (Clinton, Carter, LBJ and JFK). On investment in equipment, the comparisons are the same except here he trails Obama as well the four other Democratic presidents since 1960. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142037501 .. little more, here .. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142272878
Your passion for cherry picking anecdotes to justify conservative positions has as many holes in it as do your president's multiple falsehoods each day.
Your strawman 'they want to get rid of capitalism' has no basis in any realty other than your truebeliever-land. gunballs covered that well here
And again. No one has suggested we do away with capitalism. The only people whom think about that idea or the ones whom can't feel safe enough to sit on their couch and watch Fox News without a gun by their side. The paranoid ones. Reality. Give it a try. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141849641
How Donald Trump, Barack Obama compare on the stock market By Louis Jacobson on Monday, January 8th, 2018 at 8:37 a.m.
[...]
That said, small changes in the timeline can produce big differences. The day-to-day volatility of the Dow means that presidential performance can vary dramatically depending on when you start and end your count.
For instance, Trump’s comparison falters if you look at the Dow’s performance between Inauguration Day and Jan. 5 of a president’s second calendar year in office, rather than Election Day.
Starting with Trump’s inauguration, the Dow has risen from 19,827.3 to 25,075.1 -- an increase of 26 percent. That’s impressive.
But it’s not as impressive as its performance during the equivalent period under Obama. Under Obama, the Dow increased from 7,949.1 to 10,572 — a rise of 33 percent.
In fact, the Dow’s rise was even more impressive under Obama if you start measuring at the market’s low point, on March 9, 2009, during the depths of the Great Recession. That day, the Dow closed at 6,547. Between then and Jan. 5 — a 10-month period — the Dow rose by a stunning 61 percent. That’s more than three times faster than Trump’s rise over the same period in his term.
The damage Trump has done, documented [...] The markets aren't the only place where the petulant president falls short. The number of jobs created .. https://www.forbes.com/sites/chuckjones/2018/01/18/trumps-economic-scorecard-one-year-post-inauguration .. under Trump was lower in 2017 than during each of his predecessor's final six years in office. Wage growth also declined after Trump became president. In fact, of the few areas where this president produced higher numbers than his predecessor, most were dubious achievements. The 2017 deficit under Trump climbed to $666 billion, up from $585 billion in 2016. The national debt crossed the $20 trillion threshold .. http://www.usdebtclock.org/ .. and is projected to rise faster in the future. And America's trade deficit, which candidate Trump famously blamed on poor presidential dealmaking, was worse during Trump's first year than in any of Obama's eight. Like most of Trump's braggadocious pronouncements, his claims clash with reality.
The president's foreign policy pronouncements seem just as dangerously detached from the real world. The United States is less safe, less secure and less respected than it has been in decades. Documenting all of Trump's failings abroad can be dizzying.
All that said let's throw in some balance in this one from Neil Irwin
How Good Is the Trump Economy, Really?
It depends on whether you look at the level, the direction or the rate of change — three concepts that are often conflated.
By Neil Irwin June 9, 2018
[...]
Think of the economy as a bathtub. The level of the water in the tub — how much economic activity there is — is one useful, interesting question. Whether the water level is rising or falling — is this an economic expansion or recession? — is a separate question. And how fast the water level is changing — what is the pace of growth? — is a third question.
[...]
There are plenty of problems that remain in the United States, economic and otherwise, and the degree of credit the president deserves for the state of the economy is an open debate. But this is a bathtub that is already pretty full, and the water’s rising nicely. https://www.nytimes.com/2018/06/09/upshot/how-good-is-the-trump-economy-really.html
Bottom line is that Trump claims all the credit for everything positive in the economy today while his administration deserves only some.
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