Obama responds to Trump, GOP taking credit for economy, job growth
http://www.businessinsider.com/obama-trump-gop-economy-job-growth-report-2018-9
http://www.businessinsider.com/obama-trump-gop-economy-job-growth-report-2018-9
lets just remember when this recovery started
- Thread starter tjebarr
- Start date
Baaaahaaaaaa!!!
8 years under Obama...Nothing. 2 years after he's gone, he's taking credit for the economy. The very jobs Trump said he'd bring back and did bring back are the very jobs Obama said would never be back. So how is it that Obama gets credit, by the left, for the that came back, that he said would never come back? How does he get credit for the rebound of the coal industry that he said he would bankrupt?
LOL!!! Funny stuff right there!
Pretty steady decrease in unemployment since 2010.
Labor Force Statistics from the Current Population Survey
Pretty steady decrease in unemployment since 2010.
Labor Force Statistics from the Current Population Survey
i mean even airport can thats proof. trump is basically reaping Obama's economic recovery
Same type of curve exists for Wall St where we had an upswing after the crash and it's been a straight upward line since.
so, trumpers saying he is responsible for the booming stock market are full of ****?
Of course. Just like when Biff said our relationship with NK was horrible before Biff and fantastic since Biff, yet....nothing has changed with NK.
Nothing? you are a full blown fool.
Here are two facts for you to read.....
Jobs- Over Obama’s eight years in office, the economy added a net total of more than 11.6 million jobs — a gain in total nonfarm employment of 8.7 percent, according to the Bureau of Labor Statistics. By the time Obama left office, the jobless rate was down to 4.8 percent — well below the historical norm of 5.6 percent (the median rate for all the months since Truman’s inauguration in January 1949).
Corporate Profits had surged under George W. Bush as well, but when Obama took office they had plunged from their previous peak in 2006, due to the financial crisis and ensuing economic downturn. Then they recovered quickly under Obama — far more quickly than jobs or personal incomes — and reached a new record in 2010, his second year in office. From there they climbed even higher, setting more new annual records in 2012, 2013 and 2014, when they reached $1.74 trillion. Profits slipped a bit in 2015, but in Obama’s final year profits were still $1.69 trillion — not far below the 2014 record and 57.3 percent higher than in 2008, the year before he took office. That gain was higher than during all but three other post-war administrations
Here's a little secret. Unless there is a recession... those Corporate Profits... are always growing, and they've really grown the past 2 years.
How many times did a sitting US President meet with the leader of NK prior to the Korean War?
There has been more positive movement on the NK in the past 2 years than in the past 40, and there is ZERO denying that. We went from the left claiming Trump was going to get us into a Nuclear War with NK to the left claiming that Trump just hasn't done anything with NK.
Just stop it... stop letting the dislike of the man blind you all to the reality of the world.
Didn't he and all of the Democrats who voted against the tax cuts say that they would tank the economy?
So how is he taking credit for something that he was against? Tax cuts passed economy exploded. He's chronologically challenged?
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After Raising Rates Once During The Obama Years, The Fed ...
And during Barack Obama's eight years, there has only been one rate increase the entire time up until this point. But now that Donald Trump is headed for the White House, the Federal Reserve has decided that now would be a wonderful time to raise interest rates. Eight times in two years.
And during Barack Obama's eight years, there has only been one rate increase the entire time up until this point. But now that Donald Trump is headed for the White House, the Federal Reserve has decided that now would be a wonderful time to raise interest rates. Eight times in two years.
Sorry Obama, But It's Trump's Economic Boom, Not Yours
Licensing
- 9/11/2018
Growth: Barack Obama is on the road attempting to claim credit for the booming economy under President Trump. But the only thing Obama deserves credit for is making it easy for Trump to undo Obama's anti-growth policies.
Let's see if we have this right.
For eight years, President Obama presided over the worst economic recovery in modern times. For six years, he blamed Republicans in Congress for thwarting his spending agenda and hampering growth. In his last two years in office, he claimed that 2% growth was the best we could hope for. And in his last year in office, while the economy was again stalling out, Obama claimed that Trump's tax cuts and deregulation would only make things worse.
But now that we're in the midst of a booming economy — which kicked in after Trump reversed almost all Obama's economic policies — we're supposed to believe that it's Obama who deserves all the credit.
Yep. That's precisely what Obama and his Amen Chorus in the press want us to believe.
In his speech in Illinois last Friday, Obama complained that Republicans were taking credit for his work.
"When you hear how great the economy's doing right now, let's just remember when this recovery started," he said. "I mean, I'm glad it's continued, but … suddenly Republicans are saying it's a miracle."
This week, White House Council of Economic Advisers Chairman Kevin Hassett wisely set the record straight. At a briefing on Monday, he noted that just about every important economic indicator showed the economy was stalling out in Obama's last year.
Hassett explained that small business optimism had been on the decline before the November 2016 election. The percentage of businesses saying it's a good time to expand was, too. Business investment was stagnant. All those turned upward starting in 2017. Applications for new businesses are now well above the trend over Obama's entire second term, Hassett noted. And blue-collar jobs are growing faster than any time since the Reagan administration.
Turnaround on GDP Growth
There's more. The rate of GDP growth was decelerating in Obama's last year. It went from 2.3% in Q2, to 1.9% in Q3 to 1.8% in Q4 of 2016. Under Trump, GDP growth has averaged 2.9%. It was 4.2% last quarter and might be higher in the current one.
The stock market also was stuck in neutral the year before the November 2016 elections. The Dow is up by some 45% since then.
Real median family income didn't budge from August 2015 to November 2016, according to Sentier Research. It's up more than 4% since Trump came into office. Wages are on the upswing.
In Obama's last year, unemployment rate remained basically unchanged — it was 4.9% in Jan 2016, and 4.8% when Trump took office in Jan. 2017. Now it's down to 3.9%
We could go on.
Meanwhile, the same reporters now patting Obama on the back for today's strong economy were reporting in late 2016 about how — as The New York Times put it — "the underlying reality of low growth will haunt whoever wins the White House."
Scientific Consensus
Still not convinced Trump deserves credit for the current booming economy? Consider that a survey of 68 business, financial and academic economists by The Wall Street Journal at the start of this year found that most believed Trump's policies would boost the economy, while the same group had said Obama's policies were a drag on long-term growth. Ninety percent said Trump's tax cuts would accelerate growth.
It is what the left would, in another context, call a "scientific consensus."
Yet to listen to liberal activists and the ideological press and you'd think that Trump was crazy for claiming credit for today's growth. "The economic expansion we're enjoying today was set in motion under Obama," insists Slate's Jordan Weissmann.
Doesn't this make people like Obama and Weissmann "economy deniers?"
Both of those are lies. Trump pushed the stock market more in his first year than Obama did in 8. WTF do you mean with DPRK? You’re way wrong on that
Sorry Obama, But It's Trump's Economic Boom, Not Yours
Licensing
- 9/11/2018
Growth: Barack Obama is on the road attempting to claim credit for the booming economy under President Trump. But the only thing Obama deserves credit for is making it easy for Trump to undo Obama's anti-growth policies.
Let's see if we have this right.
For eight years, President Obama presided over the worst economic recovery in modern times. For six years, he blamed Republicans in Congress for thwarting his spending agenda and hampering growth. In his last two years in office, he claimed that 2% growth was the best we could hope for. And in his last year in office, while the economy was again stalling out, Obama claimed that Trump's tax cuts and deregulation would only make things worse.
But now that we're in the midst of a booming economy — which kicked in after Trump reversed almost all Obama's economic policies — we're supposed to believe that it's Obama who deserves all the credit.
Yep. That's precisely what Obama and his Amen Chorus in the press want us to believe.
In his speech in Illinois last Friday, Obama complained that Republicans were taking credit for his work.
"When you hear how great the economy's doing right now, let's just remember when this recovery started," he said. "I mean, I'm glad it's continued, but … suddenly Republicans are saying it's a miracle."
This week, White House Council of Economic Advisers Chairman Kevin Hassett wisely set the record straight. At a briefing on Monday, he noted that just about every important economic indicator showed the economy was stalling out in Obama's last year.
Hassett explained that small business optimism had been on the decline before the November 2016 election. The percentage of businesses saying it's a good time to expand was, too. Business investment was stagnant. All those turned upward starting in 2017. Applications for new businesses are now well above the trend over Obama's entire second term, Hassett noted. And blue-collar jobs are growing faster than any time since the Reagan administration.
Turnaround on GDP Growth
There's more. The rate of GDP growth was decelerating in Obama's last year. It went from 2.3% in Q2, to 1.9% in Q3 to 1.8% in Q4 of 2016. Under Trump, GDP growth has averaged 2.9%. It was 4.2% last quarter and might be higher in the current one.
The stock market also was stuck in neutral the year before the November 2016 elections. The Dow is up by some 45% since then.
Real median family income didn't budge from August 2015 to November 2016, according to Sentier Research. It's up more than 4% since Trump came into office. Wages are on the upswing.
In Obama's last year, unemployment rate remained basically unchanged — it was 4.9% in Jan 2016, and 4.8% when Trump took office in Jan. 2017. Now it's down to 3.9%
We could go on.
Meanwhile, the same reporters now patting Obama on the back for today's strong economy were reporting in late 2016 about how — as The New York Times put it — "the underlying reality of low growth will haunt whoever wins the White House."
Scientific Consensus
Still not convinced Trump deserves credit for the current booming economy? Consider that a survey of 68 business, financial and academic economists by The Wall Street Journal at the start of this year found that most believed Trump's policies would boost the economy, while the same group had said Obama's policies were a drag on long-term growth. Ninety percent said Trump's tax cuts would accelerate growth.
It is what the left would, in another context, call a "scientific consensus."
Yet to listen to liberal activists and the ideological press and you'd think that Trump was crazy for claiming credit for today's growth. "The economic expansion we're enjoying today was set in motion under Obama," insists Slate's Jordan Weissmann.
Doesn't this make people like Obama and Weissmann "economy deniers?"
This is so well-written and spot on! Just like Leftists insist that those who deny man-made global warming are "science deniers" they deny the science that says there are only male or female chromosomes and there is no such thing as "gender-neutral". You are either born a boy or a girl, there is no in between, they are NOT the same and science confirms this.
Yet Leftists deny that science similar to the way they are denying Trump's policies are responsible for this economic turn around and Obama's failed policies have zero to do with it!
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Excellent analogy.
They call those who don't believe in man-made global warming, deniers of science. Yet they deny very clear science that one is born either Male or Female.
Typical, leftist hypocrisy.
Clearly, this administration is responsible for our current economic successes, but the left refuses to give credit where credit is due.
Team politics is what left supporters are all about. Power is what those who they support are all about.
Americans need to stand strong together and denounce this two-party system. It's destroying our country.
The Left never admits when their policies fail and they don't recognize Conservative policies that work. Like tax cuts, and smaller government.
Why does anyone care what liberals think? In a couple of weeks they'll be relegated to the dustbin of history.
Simple math chief cutting the tax rate from 35 to 21% might help corporate profits yet that and the fat cut the Top 10% got is leaving the US Treasury a little light in the wallet. If you don’t cut spending to offset tax cuts it did no good except for the 2 biggest beneficiaries.
And yet we’re taking in more tax revenue. Weird. It’s almost like when those articles were written, no one was accepting that the GDP growth was going to damn near double.
You are correct though, we need to drastically cut spending, but again, that **** stick of President before the Big Orange left our military readiness in a state of disrepair. We punted for 4.5 years on extremely necessary sustainment support via sparing and tech refresh we were less than 50% RL.