Quarterly GDP Numbers Come Out Friday: 4.2% or 5.2%? (minimum wage, health care, downturn)

[itshim]

Democrats are the only party who routinely route against their own interests

4.1% GDP and they're pissed off lol...you can't make this stuff up

[zach_33]

Originally Posted by itshim

4.1% GDP and they're pissed off lol...you can't make this stuff up

4.1% GDP growth and my income (real income adjusted for inflation) is actually less than it was a year or two ago. Why should that make me happy?

[BobNJ1960]

Originally Posted by itshim

Democrats are the only party who routinely route against their own interests

4.1% GDP and they're pissed off lol...you can't make this stuff up

It is crazy

[zach_33]

Originally Posted by Thom Jenkins

inflation is a sign of a healthy economy. if your wages cant keep up maybe its a personal problem.

Inflation is a sign of a healthy economy. Hmm. You may want to look at Venezuela for a counterfactual.

My "personal problem" is likely relegated to my own middle age, slowing down of earnings. I outpaced most people for a solid 25 years and things are becoming more tepid. I am almost set, I'm cool with that. But I don't think I am an anomaly on the income front. I don't know many population segments outside of a small sliver of rising white collar executives under 35 who are rapidly gaining in today's economy. Forget about blue collar America, they are all totally screwed. Convince me of otherwise please.

[zach_33]

I gotta say though, kudos to the old Orange-haired prostitute frequenter. As I recall, he stated at some point that he would achieve 4% GDP if he was president... everyone laughed at him. He has done terrible damage to the long-term picture of our nation's health, if I understand it correctly (which I might not), but he achieved one of his goals. It's a meaningless goal and it doesn't help one single-mom buy a gallon of milk to feed her kids, but he achieved his goal. Bravo, senior dotard.

[Mikala43]

So what does this mean for you personally and financially? You can now buy a house? Your debt is lower? Your wages are up?

[RMESMH]

Originally Posted by zach_33

I gotta say though, kudos to the old Orange-haired prostitute frequenter. As I recall, he stated at some point that he would achieve 4% GDP if he was president... everyone laughed at him. He has done terrible damage to the long-term picture of our nation's health, if I understand it correctly (which I might not), but he achieved one of his goals. It's a meaningless goal and it doesn't help one single-mom buy a gallon of milk to feed her kids, but he achieved his goal. Bravo, senior dotard.

Trump has already got to have more derisive monikers than all previous Presidents combined.

Heck, just the monikers re his being orange alone probably exceed the number of monikers for any other single President.

[chad3]

Originally Posted by ColoradoOnMyMind

Wage growth is coming I believe.

Donald Trumps policies overall will decrease regular Americans spendable income.

Trumps tax cuts do the following,

Raise workers income by 0.8%
Raise middle class income by 1.5%
Raise the richest 1% income by 13.5%
Raise the richest 0.1% income by 14.2%
https://www.forbes.com/sites/janetno.../#1ccb08765b9d

But to offset the cost of the tax cuts Trumps budget cuts $3.6 trillion dollars from programs used by regular Americans (causing regular Americans to have more out of pocket expenses.)
Trump budget cuts spending by $3.6 trillion over 10 years, with deep cuts to safety net - Chicago Tribune

And republicans plan to cut Social Security and Medicare (giving retired Americans less income and more out of pocket medical expenses.)
https://www.newsweek.com/tax-plan-so...s-rubio-729133
Sen. Rubio tells a secret: After giving a tax cut to the rich, GOP will cut Social Security and Medicare

Trump also abolished a overtime regulation and caused 4.2 million workers to loose billions of dollars in overtime pay.
https://www.americanprogress.org/iss...rtime-pay-cut/
https://qz.com/1072054/dismantling-t...n-from-within/

Trump abolished retirement regulations and workers will lose billions of dollars in retirement savings.
The first 100 days: President Trump

And Trump abolished regulations protecting workers from wage theft.
https://www.huffingtonpost.com/entry...b03692bea814c9

Then Trumps tariffs will raise consumer prices on everything from American made soft drinks to GM automobiles (causing consumers to get less goods for their money.)
Coke Is Raising Prices Because of Donald Trump's Tariffs | Money
https://money.cnn.com/2018/06/29/new...iff/index.html

And Trumps tax cuts will add $2.2 trillion dollars to our national debt (leaving regular Americans with a government less able to assist them.)
Trump and GOP Tax Cut Could Cost Your Kids $2.2 Trillion | Time

[chad3]

Originally Posted by Oklazona Bound

Ever heard of business cycles? We also had tax cuts under Reagan that boosted GDP.

When Bush 2 came into office the economy was slipping towards recession. Then 9/11 happens which was a blow to the economy. The tax cuts got us back to close to 4%. The economy under Obama was slipping the last couple years he was in office. The current tax cuts and pro business stance from the White House has made a difference and things are cycling up instead of slipping into recession.

In 2019 GDP is projected to decrease by 0.3%, and in 2020 GDP is projected to decrease an additional 0.4%.

Why won't the Trump tax cuts increase GDP growth in 2019 and 2020?

https://www.thebalance.com/us-economic-outlook-3305669

[PCALMike]

Originally Posted by Thom Jenkins

Exactly. Thanks for making my point. Its only meaningless to you because its good. If it was terrible it would be obama this obama that. Its a sign of a strong economy bottom line.

Its not a sign of a strong economy for the typical worker when there is no wage growth. A single quarter isnt the sign of anything. Obama had quarters of even 5%+ growth. Its meaningless. And you know it.