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Reagan is actually the guy who really gutted our economy. Prior to Reagan, it was normal for GDP growth to exceed 5% annually. After Reagans awful 1986 tax reform our economy never surpassed 5% gdp growth again.
Most things going bad in our country today, from income inequality, skyrocketing healthcare costs, housing costs to income growth ratios, the cost of higher education, have their roots in Reagan's presidency.
Reagan was average at best. And a lot of his economic numbers are fueled by the 300,000 public sector jobs he created annually. If Obama had the luxury of creating 300,000 high paying, good health insurance, good tenure jobs like Reagan did through our government I bet our GDP growth would be considerably higher. Obama is the first president on record to actually shrink the number of government employees.
And Reagan didnt experience growth above 3% until 1983. Reagans 1981 was not good (I won't blame him for it. First year of his presidency) and his 1982 was terrible. He gets full blame for 1982 as he was well enough in his presidency to deal with it.
For the record, Reagans 1986 wasn't that glamorous either.
I think Reagan started all the problems when he cut tax rates but started us on the pay fees (GOP for taxes)scam the GOP likes to do. Here in NC they put in a flat tax cut the budget to an austerity level and increased every fee you could think. The result is lower growth, higher unemployment and lower wages.
Numbers are faked
We have no jobs
The jobs are gone
GHYNA
something about trade
Unemployment is really like 28%
It could be as high as 42%
I've been hearing that the economy sucks
people are saying we are on the edge of the abyss
No one has any money
BLS is a crooked liberal org
It's the worst it's ever been
and last but not least...
You didn't say anything here, you just made something up. The measurement of what makes a successful economy hasn't changed. I'd recommend you understanding what GDP entails instead of saying because you said so.
I clearly told you google what smarter minds than me and you have figured out. Clearly you lack the initiative to educate yourself on why we update measurements as the economy changes.
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I just gave you a perfect example of why GDP is meaningless. It has nothing to do with 16 trillion. This happened in the mid 1980's.
Keep trying.
No you didn't. $2 billion is a drop in the bucket for a boondoggle when compared to the size of the America economy. Give me something significant.
Keep trying.
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Your point?
That it is a good thing clearly.
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LMAO The cost of healthcare is getting higher. We have less money to spend on things that improve the economy. Me spending more on a service I don't use doesn't improve anything. Giving it away produces the same result.
Of course it is getting higher. We have an aging population and we have too many unhealthy people. Just wait and see how much we spend on the boomers who underfunded their retirement and didn't take care of themselves.
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Your point?
You said there was no value, clearly a lot of people would differ.
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You haven't said anything yet.
Sure I am, you just fail to see the big picture.
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What you fail to understand, because of your ignorance, is Obamacare is a tax. We the people would have spent our hard earned money on products of our choice which actually helps the economy.
I've spent X amount on Obamacare and haven't used it once. Just as millions have. Again nothing is being produced.
There's no running from increased spending due to a aging and obese population. Your ignorance doesn't allow you to see the big picture. You merely a have a snapshot of one quarter of GDP from ZeroHedge (LOL) and you extrapolate based on your erroneous thinking.
Care to post something from the 2nd or 3rd quarter? Seems like inventories have decreased, industrial activity increased, and exports increased since you cute little snapshot.
The economy is much better place in most states which took the Medicaid option. Here in NC the economy has grown,but at a lower then average rate with more taxes and fees. Lower wages cutting the ability to increase spending.
Hospitals in rural areas have had to close and more people going to the cities for work. The GOP has hurt the people who voted them in to give the top earners a tax break which is not trickling down.
And yet it appears voters are ready to chuck out both governor and Senator here in NC in the midst of a booming state economy because of a bathroom law.
People of NC, I moved from CA 6 months ago and the economy is Sooooo... Much better here. Why do you want to mess that up?
Really? Have you seen the teacher wages in NC? How is 35k a year as a teacher so great? Thats even lower than Alabama and Arkansas. In addition, the state tax burden has shifted more heavily from the donor class to the working class, of course sold as "cutting taxes and regulations in the name of the founding fathers and the constitution".
YOu know it is funny during the Reagan years we had a GDP average rise of over 3% and people talk about how his policies do not work, yet people push this growth as if it is a great thing. After years of a stagnant economy at best this is not impressive and will get worse I am sure when they revise it in a month.
Reagan's policies ended in the Savings and Loans crash. Whats so great about that?
Location: New Albany, Indiana (Greater Louisville)
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GDP has been slowing growing but 99% of the profit gains are going to the super rich. Job growth has been positive but most new jobs are low wage. Only 60% of people are in the work force, when you take out people who are very old, have lots of money in the bank and no need to work, students, very sick, etc the real unemployment rate is around 25%. I have never been an Obama basher, but the reality is for 25% of Americans the Great Recession became the Great Depression. I know many people who lost work in 2008 and have never found a job since.
It will almost certainly be revised down, as is the pattern for recent years.
So 2% growth is all that we can hope for these days??? Despite oceans full of "free money" being pumped out??
Pathetic.
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Seems like inventories have decreased, industrial activity increased, and exports increased since you cute little snapshot.
