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I certainly hope that GDP growth remains above 3% for the rest of the year, whether Donald Trump is responsible for it or not.
But the looming economic problems might actually hold growth down - auto sales have peaked, Harvey is wreaking havoc along the Gulf Coast, and gasoline prices are rising due to oil refineries shutting down for the moment.
IMO, it's unreasonable to credit Trump with 3% growth in the second quarter of 2017 just like it would be unreasonable to ding Trump if the aforementioned factors result in poor GDP growth (or even loss) in the third quarter of 2017.
Hundreds of regulations that strangle/prevent new startups and help old business have been ended.
The pipeline has been started up again.
Excessive energy and environmentail regulations that were stalling projects have been eliminated.
Tax reform is hopefully on the horizon encouraging businesses.
Illegals are being deported giving jobs to Americans instead.
Instead of deported illegal workers' remittances being sent out of our country, that money stays here to boost economy.
On the chart upthread (19), you can see a constant GDP decline from Obama's Policies in 2015 and most of 2016.
It's too early to tell if this will be a consistent trend upward, but article says it is on scale for third quarter to be upward also.
Pipeline -- well let's call that FAKE NEWS...lol...
.Too soon to say whether Keystone XL will be built, TransCanada exec says
Tax reform hope -- is just that hope -- nothing would come out of that yet....not with this administration. It would be a naive business man that would take that bet. This administration's record of passing legislation is not the greatest.
Projected weren't stalled because of existing environmental regulations. Only an idiot would hold a project up to see if one day maybe the next administration might get rid of the regulations.
Where job numbers were poor it wasn't because of immigration. That's a false narrative for sure. Ohio is still struggling...and not known for its over abundance of illegals taking their jobs. Trump claims it is the manufacturing that has been lost because of NAFTA while experts in manufacturing note that technology is the biggest contributor.
Trump is just what the country needs at just the right time. And I give Obama credit for the stimulus which I think was the right call and steering us out of the recession. But obama didn't have the business smarts needed to bring real growth and prosperity.
Less regulation, corporate and middle class tax cuts along with repatriation of hundreds of billions of dollars overseas and a massive infrastructure bill and better trade deals is the recipe to get over 3% growth.
The Obama economy was the mess Harry and nancy led us into 2007-2008 and then with Obama, Harry, & Nancy we almost collapsed in 2009-2010 and then we elected a Republican Congress riding a white horse to save the economy and with a Republican House, then Republican Senate and finally Republican House, Senate, and Prez we are really taking off.
Historical fact that the stock market had its largest point drop the day after a President was elected when....let's see yes after Obama was elected in 2008 and the largest point gain the day after a Presidential election was the day after Trump was elected.
wow- you have some incorrect memory of recent history. Might want to look into that.
Hundreds of regulations that strangle/prevent new startups and help old business have been ended.
The pipeline has been started up again.
Excessive energy and environmentail regulations that were stalling projects have been eliminated.
Tax reform is hopefully on the horizon encouraging businesses.
Illegals are being deported giving jobs to Americans instead.
Instead of deported illegal workers' remittances being sent out of our country, that money stays here to boost economy.
On the chart upthread (19), you can see a constant GDP decline from Obama's Policies in 2015 and most of 2016.
It's too early to tell if this will be a consistent trend upward, but article says it is on scale for third quarter to be upward also.
What regulations has Trump cut specifically? Other than vague EO, what actual laws/regulations has Trump reversed to allow the new business Utopia to emerge?
The Pipeline is still questionable to continue and has a negligible effect on the economy
What excessive energy and environmental regulations did Trump cut or reverse and how were they stalling projects?
Tax reform? They are already signaling they are moving to cuts, and based on prior legislative sh&t show that was ACA repeal and replace- why would any sound business leader expect anything here?
Illegals- I thought the party line was that border crossings were down bigly so you don't need to deport more than Obama (who deported the most) and as far as Americans taking those jobs, last time I checked the guys picking grapes, washing dishes, and mowing lawns were still Mexican/Central American- what jobs are opening up these days thanks to less illegals?
Your point on remittances was already debunked on this thread as well.
So please present me with some concrete facts here, I'm all ears...
More horrible news for the Dims, the economy is starting to grow faster than it has in years. Not only did the Republican Congress turn the economy around almost 7 years ago after beng elected to run the legislature, now with Trump it's just getting better. Once Trump and the repubs get their tax plan passed, it's curtains for the Dims.
Trump is just what the country needs at just the right time. And I give Obama credit for the stimulus which I think was the right call and steering us out of the recession. But obama didn't have the business smarts needed to bring real growth and prosperity.
Less regulation, corporate and middle class tax cuts along with repatriation of hundreds of billions of dollars overseas and a massive infrastructure bill and better trade deals is the recipe to get over 3% growth.
But Trump isn't the greatest business man. He's good but not the greatest.
AND -- running a private company is not the same as running a public company which is not the same as the economy of a country. It just isn't the same.
Trump doesn't understand the nuances of international trade, taxes, etc. He so much has said so. He is using NAFTA as some negotiating term with Mexico to build the wall. That's not good business sense. Destroying NAFTA could destroy the economies of some 37 states that trade extensively with Canada.
Texas has two main trading partners (PARTNERS) Canada and Mexico -- is it time to play dice with that economy. -- I don't think so.
Nah -- where Trump may have the greatest impact is the tax cuts -- but I'm losing faith FAST. First the inability for him to unite his own party let along the two parties....and I'm skeptical that middle class cuts won't be what they are promised to be.
I have to learn to be more patient with Trump and not swing up and down and all around as he changes his mind about his policies. But it's hard not to be skeptical given the health care mess. We can blame the politicians but he is the leader, the manager.
Trump is just what the country needs at just the right time. And I give Obama credit for the stimulus which I think was the right call and steering us out of the recession. But obama didn't have the business smarts needed to bring real growth and prosperity.
Less regulation, corporate and middle class tax cuts along with repatriation of hundreds of billions of dollars overseas and a massive infrastructure bill and better trade deals is the recipe to get over 3% growth.
I mean....if people, deep in their minds, believed that Obama would hurt the economy.....don't you know that creates a self fulfilling prophecy? If a person really believed that the economy is going to go bad, because of the leadership, would they spend and invest the same? Answer: No...not if they had discretionary income. They would spend and invest less, while saving more. Millions of individuals spending less and saving more reduces GDP in a consumption driven economy.
Discretionary income and investment is higher among the republican masses than the democrat masses. The democratic party has the poor as part of its base and the poor has little discretionary spending and thus will spend the same, because they have to, regardless if they fear foreboding. Thus, its the republican masses and business owners and head of boards whose sentiment impacts their rates of spending and investment.
Given the above, what was the impact on the economy born from the rights lack of Confidence in Obama? If people really believed what they were saying about him.....it would have impacted their spending and investments by diminishing it.
Its kind of like the self fulfilling prophecy that housing prices would fall when certain unfavorable minorities move in. Well....it was primarily the belief of those who believed this, followed by their actions based upon their beliefs, that resulted in housing price falling. When a minority would move in people with the belief TOOK ACTION and rushed to move out, often selling below market rate in their haste to beat the plunging values. As more and more long time residents did the same.....housing prices fell and more of these minorities could now move in, inspiring more flight.
Self Fulfilling prophecy is one of the most powerful, but least talked about, phenomenons impacting human outcomes, whether they be economic or social.
Historical fact that the stock market had its largest point drop the day after a President was elected when....let's see yes after Obama was elected in 2008 and the largest point gain the day after a Presidential election was the day after Trump was elected.
The market nearly doubled in two years after 2009. Can Trump make it double in two years? Lets see, but it will be hard at this pace.
Yes the Democrat House & Democrat Senate had things screwed up and with polls showing Obama to win caused the market to start crashing before the election and then had its biggest 1 day drop in stock market history on the day after a Presidential election on the day after Obama was elected in 2008.....the market also fell precipitously the day after Obama was elected in 2012.
Who told you it was the largest loss ever? Check your facts.
The largest loss ever (in dollars) was September 29, 2008, and there were many huge loss days when the economy was melting in 2008 with "W" counting days to get out of the office.
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