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You can drive GDP thru the roof when you print 5 trillion dollars to..everyone is fat and happy until it runs out..
...and for this precise reason (deficit spending) Democrats are indeed great for short term GDP growth and nominal stock market performance. You get a sugar high economic boom and on the asset valuation front debate the denominator; the debt bill (which requires austerity or inflation to pay off) comes later.
Is this part of the left-wing master plan? You people constantly post lies about your political opposition and hope people will take in the bs? The current idiot in the White House along with the Democrat congress from 2021-2023 is proof of how bad Democrats are for the American Economy.
Location: Was Midvalley Oregon; Now Eastside Seattle area
13,060 posts, read 7,493,946 times
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JMO,
The R's forget that hallmark is "cutting taxes." But if you cut taxes, you must either have new revenue (not going to happen immediately in a trickledown philosophy) or offset with reduced deficit.
IMO
In T's administration, Congresses (#115, 116) cut taxes by a little but increase deficit spending tremendously. Cutting taxes had a immediate affect (but in 2017, the economic runoff of the Obama administration had a growing economy well into 2018) but the deficit spending of 2017 and 2020, began to hit the capital markets in 2nd-3rd quarters 2021. The FR was slow in 2021, to recognize the deficit inflation indicators.
To be fair: Both parties are guilty poor fiscal responsibility. P. Reagan was a master in framing the deficit-most likely he forgot about it.
JMO,
The R's forget that hallmark is "cutting taxes." But if you cut taxes, you must either have new revenue (not going to happen immediately in a trickledown philosophy) or offset with reduced deficit.
IMO
In T's administration, Congresses (#115, 116) cut taxes by a little but increase deficit spending tremendously. Cutting taxes had a immediate affect (but in 2017, the economic runoff of the Obama administration had a growing economy well into 2018) but the deficit spending of 2017 and 2020, began to hit the capital markets in 2nd-3rd quarters 2021. The FR was slow in 2021, to recognize the deficit inflation indicators.
To be fair: Both parties are guilty poor fiscal responsibility. P. Reagan was a master in framing the deficit-most likely he forgot about it.
YPmV
Cutting taxes does spur economic activity and in turn monies to the treasury increase. This can easily be seen at the source numbers published by the Treasury. However, the increase due to the tax cuts is less than most on the right would have you believe. The real culprit is our lack of control over spending. I agree that both parties have demonstrated poor fiscal responsibility. The Democrats suck and the Republicans suck just a little less. With few exceptions, they should all be voted out!
The Speaker of The House just proposed a bill giving $14.3B to assist Israel.
He further proposed the $14.3B come out of the IRS budget. I thought it was a pretty good idea.
The bill will rapidly be passed and go to the Democrat controlled senate. Then we will see what the Dems will do.
“...data show that the economy has performed much better during Democratic administrations. Economic growth, job creation and industrial production have all been stronger.” https://www.jec.senate.gov/public/in...can-presidents
For the 13 presidents beginning with Truman, total job creation was about 70.5 million for the 7 Democratic presidents and 29.1 million for the 6 Republican presidents.
CNN reported in September 2020 that GDP grew 4.1% on average under Democrats, versus 2.5% under Republicans, from 1945 through the second quarter of 2020, a difference of 1.6 percentage points.[3] The New York Times reported in February 2021 that: "Since 1933, the economy has grown at an annual average rate of 4.6 percent under Democratic presidents and 2.4 percent under Republicans...The average income of Americans would be more than double its current level if the economy had somehow grown at the Democratic rate for all of the past nine decades
Blinder and Watson reported that budget deficits tended to be smaller under Democrats, at 2.1% potential GDP versus 2.8% potential GDP for Republicans, a difference of about 0.7 of a percentage point.
CNN reported in September 2020 that: “Since 1945, the S&P 500 has averaged an annual gain of 11.2% during years when Democrats controlled the White House, according to CFRA Research. That's well ahead of the 6.9% average gain under Republicans.”
Think about that last one. The last time a recession started during a Democrat administration was Jimmy Carter, 45 years ago. But Trump, Bush, Bush Sr, Reagan, Nixon and Eisenhower all had recessions.
I don't take anything CNN puts out there as true and then you add Wiki? LOL Democrats create more government jobs and Republicans more private sector jobs
Trump had 13% unemployment, under Biden it's less than 4%. Those are private sector jobs mostly which continues to hire in manufacturing and other industries hit hard by the Trump recession.
Under Trump, the federal workforce gained an average of 0.9% per year between December 2016 and 2020.
Under Obama, the federal workforce dropped by 10%. Obama left Trump with a shrinking federal govt. and a rare opportunity to continue, but Trump squandered it.
Last edited by webster; 10-31-2023 at 03:51 AM..
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