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Remember when all the rightwingers wailed and whined about the Fed under Obama? How the Fed used $4 Trillion of "printed dollars" to artificially stimulate the economy under Obama? Trump's tax cuts are two and a half times larger than the Fed's QE was. Repubs are the party of debt.
6 out of 8 Obama years trillion plus deficits... and the fascist liberals said defficitis don't matter, you need to spend in a recovery....
so why the change of heart and mind???
Uh, taking aside your insults, you answered your own question - it's a fact of history that the entire economy crashed due to the GWB Recession. To quote Bush himself "we almost lost the sucker" - the sucker being the entire economy.
We can 2nd guess the decisions of Bush (at the end), of Wall Street, of the Fed and everyone else....
BUT, the real news for you is.....
"I thought we were not in a recession any more".....
That would seem quite a difference. I need a paddle if I am out in a rowboat, but on the Trump Princess I am supposed to have a fine YUGE motor running and be able to pay for my gas.
No change of heart here. I was against the GWB tax cuts and checks he sent out....WAY before they helped create the Recession. I am nothing if not consistent. I had no hand (unlike the Right) in destroying the economy. But I do know business and basic economics.
GW took the first balanced (or close to) budget in a LONG time and turned it to a once a century event. You really shouldn't be bragging about that or using it as an example.
In theory...IF we had a great economy, we should be able to pay our bills...right? Or wrong?
That's a simple question and if you can't answer it properly insults won't do the job...
Deficit (yearly shortcoming) of about 600 Billion in 2016...having come way down from highs and headed toward being balanced.
Deficit 666 Billion in 2017 - growing.....
Deficit projection for 2018 - 800+ Billion.....
Deficit projections for the years after - 1+ Trillion.
Debt - U.S. National Debt Clock : Real Time
(this reflect the total of these deficits - each of which is added to it)
21 1/4 Trillion and counting....
yearly Interest on the debt - at 3% (it's headed up quickly as interest rates rise = 650 Billion per year.
How can you state that tax cuts....from DEFICIT AND DEBT (not from surplus) don't equal more debt and more interest payments?
Think. Take an exaggerated view just to prove the numbers. Let's say the GOP gave away 5 Trillion in free money this year.
Are you claiming that 5 Trillion won't show up in the National Debt?
Are you claiming that the 5 Trillion won't vastly increase GDP?
If I go out and buy a car and finance it, my debt goes up. The automaker adds to GDP. Quite simple.
Tax cuts are money that government SHOULD have collected, but instead they borrowed. Again, quite simple.
And why should have da gubermnet have collected taxes? You are using the economic paradigms of neoliberalism quite popular with the Republican party and you appear to be criticizing the center left democrat economic platform of Trump that looks at employment and industrial utilization.
And why should have da gubermnet have collected taxes? You are using the economic paradigms of neoliberalism quite popular with the Republican party and you appear to be criticizing the center left democrat economic platform of Trump that looks at employment and industrial utilization.
C'mon, why should you breathe...is about the same level of question.
The government should collect approx what it need to spend. There may be times when this is not possible, but certainly when it IS, they should do so....
What economic or budgeting model says your receipts should be less than your expenses? I've never heard of that as any type of liberalism except for "bad business" or "not planning for a rainy day"....
Was kind of hoping for a big bump today but it didn't happen.
I wonder if the GDP news wasn't good enough. You know the part where they are saying it was bumped by panic selling and buying over trade wars.
I guess we'll have to wait another three months before we know for sure.
The economy is in nice slow growth - which, IMHO, is better than quick growth. This has been similar for about 6 years.....
Things SHOULD be through the roof this years because the further the Recession is in the rear-view, the better (in theory) things should get.
But the Trump Tariff Chaos and other things put a damper on plans...and therefore current and future growth. Chaos on other fronts does also. Example - should I buy a high MPG car? Not as important if Trump is going to steal the oil and beg the Saudis to pump more (and bribe them with more weapons sales)...so I may not buy a car at all.
Should I invest in Tesla or a Solar PV utility stock? Looks great with the amount of solar being installed, but when Trump put in a law that requires utilities to buy coal (at any price...this he already did), then I am confused about my investment.
Mercedes is considering giving up on US car production.
The point isn't that Trump is bad. If he would just shut up and remove himself from micromanaging and let nature take its course, business and markets would be much better off. But to him...being the center of attention means more than the general scheme of things...
I think we will see somewhat the same growth we have seen over time in the past - that is, my active portfolio averages 10.5% or so, and I'd love to see that on a constant basis (equities). But if we only get 5% this year (only 2% so far YTD), that means we need 15% or more next year to make it average properly...
Even all this is chancy if one thinks Trump may start a real war or a deeper trade war...although, like anything else, many of those effects won't be felt for many years or even a decade or more. Things do not turn on a dime.
1) GDP at 4.1% and sustainable
2) Added over 3 million jobs since the election
3) Lowest African American unemployment rate in history
4) Lowest Hispanic unemployment rate ever in history
5) Lowest Asian unemployment rate ever
6) Women unemployment rate lowest in 65 years
7) 3.5 million Americans OFF food stamps
8) Trade deficits down $50 billion dollars
9) Exports up 20%
10) First time net exporter of natural gas
11) $300 billion in corporate profits repatriated to the US since tax cuts at beginning of 2018 (over a trillion expected to be repatriated)
12) 400,000 new manufacturing jobs
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