Replies to post #12423 on Trump Media and Tech Group (Politics Allowed~Non-M (DJT)

[timberwolf7]

its simply amazing that when a diehard supporter of the dem/commie party is challenged, how

SHALLOW their depth of knowledge really is. It has become so obvious that when challenged, once they get

beyond the TALKING POINTS they are told to believe, they tend to have nothing else left to say other than

try to resay what they just did. Or in far too many instances, flat out LIE to try and hide/cover up their lack of knowledge

Yep, get someone to talk, and they often don't take long to expose their true character..

[blackhawks]

It WAS a 4 year term, nitwit. I get why you want to absolve Trump of his willfully f'd up pandemic response but the rest of the country voted to do otherwise.

Real simpletons overlook context, what presidents inherit. Trump was NOT handed the results of of the GOP Great Recession but rather the recovery.

https://www.jec.senate.gov/public/_cache/files/2c298bda-8aee-4923-84a3-95a54f7f6e6f/did-trump-create-or-inherit-the-strong-economy-final.pdf

Obama was handed an economic catastrophe—and prevented an even greater meltdown

When Barack Obama became president, the economy was experiencing what former Federal
Reserve Chairman Ben Bernanke called “the worst financial crisis in global history, including the
Great Depression.”

In the last quarter of 2008, real GDP plummeted 8.4 percent and the economy
hemorrhaged more than 1.9 million jobs.

Barack Obama and Congressional Democrats took strong action to rescue the economy, including
the stimulus, TARP, financial reform and the auto bailout. In addition, the Federal Reserve lowered
interest rates and took extraordinary measures to boost growth.

Research by economists Alan Blinder and Mark Zandi found that without this multi-faceted response, the recession would have lasted twice as long, job losses would have been twice as high and the drop in GDP would have
been more than three times worse.

Trump inherited a strong economy that got stronger

Unemployment: Under Obama, unemployment was cut from a recession-peak of 10 percent
to only 4.7 percent. It has continued to drop and now is extremely low at 3.6 percent.

Job growth: By the end of the Obama administration, the economy had experienced 76
consecutive months of job growth. Since Trump became president, the streak has been
extended to 109 consecutive months.

Average monthly job growth: During the last 33 months of the Obama administration, nonfarm job growth averaged 224,000 per month. During the first 33 months of the Trump
administration, the average was 34,000 jobs per month less.

GDP growth: Average real GDP growth was roughly the same (2.6 percent) for the first 11
quarters under President Trump (ending Sept. 2019) and for the last 11 quarters of the Obama
administration.

Income: During the last two years of the Obama administration, annual median household
income increased $4,800. This is three times more than the $1,400 increase during the first
two years of the Trump administration.

Mainstream economists say the economy was strong before Trump took office

Greg Mankiw, chairman of the Council of Economic Advisers under George W. Bush, states that
“… the economy was in fine shape at the end of the Obama administration, despite what President
Trump sometimes asserts.”

A substantial part of economic progress under Trump occurred before his signature economic
policy took effect

President Trump’s most significant economic policy, his $1.9 trillion tax cuts, did not take effect
until January 2018—a year after he took office. By that time, unemployment had dropped from 4.7
to 4.1 percent, household incomes had increased $850 and 2.3 million new jobs had been created.

The tax cuts may have caused a slight “sugar high” – but at a very high price

The 2017 tax cuts likely added some fuel to the already-hot economy because they increased
corporate profits (benefiting shareholders) and gave individuals more money to spend. However,
many economists say that the “sugar high” from the tax cuts is wearing off. In fact, business
investment has declined for two consecutive quarters and a recent analysis by the New York Times
found no relationship between the size of the tax cut companies and industries received and their
investments.

In the long term, the $1.9 trillion in new federal debt likely will weigh down the
economy.

Trump’s trade war hurts consumers, businesses and the economy

American businesses and consumers, not foreigners, pay tariffs. Although the tariffs hurt China by
reducing demand for more Chinese goods, they also hurt American businesses that pay the tariffs,
American consumers who buy the higher-priced products, American farmers who are hit with
reciprocal tariffs, and the economy, which is weighed down by the interaction of these forces.

One analysis finds that the trade war with China has already cost 300,000 American jobs and the
number could rise to 450,000 by the end of the year.

Furthermore, the Congressional Budget Office estimates that the trade war will reduce GDP by 0.3 percent in 2020.11

There clearly are American casualties in the trade war—the magnitude of the long-term damage is yet to be seen.