[beerbeer]

Originally Posted by NUHuskies01

That is because he took over with the economy in dire straits thanks to the previous (republican in case you forgot) administration. Pretty easy to make Obama's 8 years look bad when he had no control over what he was taking over - and he should get way more credit for getting it turned around - and that was with the R's going out of their way to make sure he could not do it. What was Obama's real GDP his last 4 years in office, or last 2? I would bet pretty much inline to what Trump has done.

Trump has been able to benefit from all the hard work that Obama and his policies brought. Fact.

Now 2 years in, and with Trump's tax cuts last year really taking effect, we get to see what if any difference it will make going forward.

But yeah - comparing 8 years of Obama to two years of Trump when one guy took over one of the worst economies ever, to a guy who took over with an economy in great shape is looking for excuses to claim your guy is the best ever. But whatever helps you sleep at night.

That should have made it easier for Obama to improve the GDP.



The only benefit to Trump is that he could repeal all the anti-business regulations Obama decreed (and many more) to free up the free market.


Deal with reality. Read the numbers. Look at jobs. Look at unemployment. Open your eyes.

[papafox]

Originally Posted by kidyankee764

I actually laughed out loud at this.

So did I!

[JayCT]

Originally Posted by kidyankee764

I actually laughed out loud at this.

Why? Do you deny that the economy was entering a significant recession when Obama took office? Did it not improve dramatically? Unless you have proof otherwise, I would say the Obama years were very good for the economy. The unemployment rate was 4.6% in November 2016, down from a high of 10%. Trump merely improved on already very good conditions. And he did it by unleashing many of the much needed checks on business and by increasing the national debt by trillions. That is a bill that future generations are going to have to pay. Jay

https://dilemma-x.net/2016/12/02/oba...november-2016/

https://www.bls.gov/spotlight/2012/r..._spotlight.pdf

https://tradingeconomics.com/united-...mployment-rate

[beerbeer]

Originally Posted by JayCT

Why? Do you deny that the economy was entering a significant recession when Obama took office? Did it not improve dramatically? Unless you have proof otherwise, I would say the Obama years were very good for the economy. The unemployment rate was 4.6% in November 2016, down from a high of 10%. Trump merely improved on already very good conditions. And he did it by unleashing many of the much needed checks on business and by increasing the national debt by trillions. That is a bill that future generations are going to have to pay. Jay

https://dilemma-x.net/2016/12/02/oba...november-2016/

https://www.bls.gov/spotlight/2012/r..._spotlight.pdf

https://tradingeconomics.com/united-...mployment-rate

Obama improved NOTHING dramatically. He had the slowest recovery of any economic period since the great depression. And that's even after the ridiculous "stimulus" that spent almost a trillion dollars which produced almost no growth. And Obama kept spending running up almost 10 trillion dollars of debt. More than all the previous presidents in history combined. And he still got nothing for it.



If Obama did nothing the recovery would have been better. Instead he loaded businesses up with nonsense regulations that kept the economy at a crawl.


Trump inherited an economy going nowhere after eight years. The last quarter of Obama's presidency was 1.8%. Trump never had one as low and the reason is that Trump cut regulations and taxes. Period. Face reality. Good grief. The idea that Obama left Trump a good economy is a fantasy.

[JayCT]

Originally Posted by beerbeer

Obama improved NOTHING dramatically. He had the slowest recovery of any economic period since the great depression. And that's even after the ridiculous "stimulus" that spent almost a trillion dollars which produced almost no growth. And Obama kept spending running up almost 10 trillion dollars of debt. More than all the previous presidents in history combined. And he still got nothing for it.



If Obama did nothing the recovery would have been better. Instead he loaded businesses up with nonsense regulations that kept the economy at a crawl.


Trump inherited an economy going nowhere after eight years. The last quarter of Obama's presidency was 1.8%. Trump never had one as low and the reason is that Trump cut regulations and taxes. Period. Face reality. Good grief. The idea that Obama left Trump a good economy is a fantasy.

The recession we had was the worst since the Depression so of course it took longer to come out of it. It brought a number of our largest financial institutions and major employers to bankruptcy. That is not easy to come back from. The regulations he added were necessary to prevent the same thing happening again. It returned regulations that were wrongly loosened under Bush/Cheney. And still the unemployment rate when Obama left office was 4.6% which is approaching full employment. Not sure how anyone could objectively negate that. Jay

[beerbeer]

Originally Posted by JayCT

The recession we had was the worst since the Depression so of course it took longer to come out of it. It brought a number of our largest financial institutions and major employers to bankruptcy. That is not easy to come back from. The regulations he added were necessary to prevent the same thing happening again. It returned regulations that were wrongly loosened under Bush/Cheney. And still the unemployment rate when Obama left office was 4.6% which is approaching full employment. Not sure how anyone could objectively negate that. Jay

The reason that the recession was the worst since the depression was OBAMA. He prolonged it with the failed stimulus and piling on repressive regulations. These regulations were all kinds of things that hamstrung businesses that had nothing to do mortgages. He hammered small businesses which are the job creators in our economy. https://www.usnews.com/opinion/econo...ve-regulations

BTW, that recession was caused by the housing bubble (not Bush) which was caused by Democrat polices starting with the Community Reinvestment Act (CRA) by Clinton. The CRA gave loans to people who couldn't afford them. And when Bush tried to fix it, Barney Frank and Chris Dodd stopped him. https://www.theatlantic.com/business...crisis/249903/

I will stop now. I know it is useless to argue with the magical Obama beliefs that possess his followers regardless of the many facts that contradict the narrative.

[JayCT]

Originally Posted by beerbeer

The reason that the recession was the worst since the depression was OBAMA. He prolonged it with the failed stimulus and piling on repressive regulations. These regulations were all kinds of things that hamstrung businesses that had nothing to do mortgages. He hammered small businesses which are the job creators in our economy. https://www.usnews.com/opinion/econo...ve-regulations

BTW, that recession was caused by the housing bubble (not Bush) which was caused by Democrat polices starting with the Community Reinvestment Act (CRA) by Clinton. The CRA gave loans to people who couldn't afford them. And when Bush tried to fix it, Barney Frank and Chris Dodd stopped him. https://www.theatlantic.com/business...crisis/249903/

I will stop now. I know it is useless to argue with the magical Obama beliefs that possess his followers regardless of the many facts that contradict the narrative.

The facts contradict nothing. An objective evaluation of them show that the Obama years were ultimately very good for the economy. There was a lot for the economy to overcome. The problems may have started with the CRA policies enacted under Clinton but Bush/Cheney loosened oversight so that financial institutions were overextending themselves and falsifying loan portfolios. Bush did nothing until it was too late. I think the facts are very clear that the Obama years were good for our economy. Otherwise the GDP and unemployment rate would not have been so good when he left office. Jay

[BobNJ1960]

Originally Posted by JayCT

I think the facts are very clear that the Obama years were good for our economy.

It is amazing since this is an Economic Climate of Ct thread, that Malloy was able to overcome the national job growth trend, and leave Ct nearly last amongst 50 states in job growth once the recession ended.

Even managed to get Ct near the bottom in Business Climate rankings.

We should give him credit for the "hard work" that took. He had to overcome a national recovery. Lamont is following along doing the same.

[LMPA]

Originally Posted by BobNJ1960

It is amazing since this is an Economic Climate of Ct thread, that Malloy was able to overcome the national job growth trend, and leave Ct nearly last amongst 50 states in job growth once the recession ended.

Even managed to get Ct near the bottom in Business Climate rankings.

We should give him credit for the "hard work" that took. He had to overcome a national recovery. Lamont is following along doing the same.

https://www.msn.com/en-us/money/care...BVEgf2#image=1

[NUHuskies01]

Originally Posted by beerbeer

The reason that the recession was the worst since the depression was OBAMA.

I will stop now. I know it is useless to argue with the magical Obama beliefs that possess his followers regardless of the many facts that contradict the narrative.

https://www.factcheck.org/2017/09/obamas-final-numbers/

11M more jobs. Unemployment rate down to 4.8%. Home prices up 20%. Etc, etc, etc.

Look - you want to say it didnt happen, fine. But the idea that ANY president can come in and magically turn around an economy in a year by doing ANYTHING, you have no idea what you are talking about.

There is no magic wand, no stimulus, not cutting regulations that changes anything in a year. Finance and economies do not work that way.

The first year of a presidency is basically the 9th year of the guy before. No policies make change that quick. Personally, I would even go 2nd year, its hard to effect change on an economy, but based on the bills passed by this administration, sure, Trump can start taking credit.

But all I know is, national debt continues to rise, same as Obama, and while they complained about it forever under Obama, now that the Fed wants to raise interest rates (Please do!), we can no longer do that, so money stays cheap, just like under Clinton, just like under Obama.