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The left NEVER takes responsibility for their wrongs and ALWAYS want to take credit for OTHERS GOOD works!
LOWER taxes for EVERYBODY and getting rid of useless regulation has spurred the economy.
NOTHING obama did spurred it except him NOT being president!
If you think otherwise give us his actions that DID spur the economy.
For crying out loud.... this economic boom started in about 2012- it was a strong upward trajectory that crossed over from Obama's presidency now into Trump's. Why in the world are Trump supporters giving him credit for this?
Trump has done many things to potentially derail the boom (such as his ill-advised trade wars) but fortunately the economy is so strong that it has flourished despite some of the things he has done.
I am not saying Obama is solely responsible for this either, I am just stating that the boom covered 4+ years of Obama's presidency and now so far 2.5 years of Trump's. Giving too much credit to either of them for it would be rather inaccurate. And I find it so humorous that Trump supporters think somehow this all started after the 2016 election!
Hats off to both Barack Obama and Donald Trump, all sides should be celebrating this.
When Obama took over as president in 2008, our country was in the midst of a major economic lull and housing crisis. However, thanks to Barack Obama, he was able to turn things around and the United States of America saw five straight years of economic growth.
And when Trump took over, since the economy was doing so well, he decided to mostly leave it alone. Other than his huge tax bill, Donald Trump hasn't really done anything drastic to impact the economy one way or another, he realized he should leave good enough alone.
Hats off to both Barack Obama and Donald Trump. Obama saved the economy and turned it around, and then Trump realized if it ain't broke, don't fix it.
What is your definition of "the economy"?
The wages of the average Joe or something else?
Have you looked at median inflation-adjusted wages over the past 10 years in the "economic miracle" period? Compare this to the situation in the 1960s, and its like night and day.
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68,297 posts, read 54,168,778 times
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Quote:
Originally Posted by PedroMartinez
Learn the difference between recovery and growth to help with your confusion.
The OP cites a Twitter post which says the current period of economic expansion started in 2009. Now in my version of English: expansion=growth. WHAT is your definition of expansion?
HINT: Since it started in 2009, Trump can hardly be given all the credit as he didn't start as POTUS 'til 2017.
Or perhaps you need to learn Trump is not the miracle worker his self-aggrandizing BS would have us believe he is.
During the 10+ years of Obama/Trump we have more than doubled our national debt and kept interest rates at historic lows. And the net result is a real GDP growth that is far slower than in the past. Of course the stock market is going to go up. Saving money in the bank is not an option. The whole economy is based on buying on credit and investing whatever cash you have. What could possibly go wrong?
This is not a Trump or Obama miracle but will be an American nightmare.
In fact we just shot ourselves in the foot in a very damaging way with the tax cuts for corporations and the rich that were passed last year- the deficit and national debt are hitting all-time highs. Sure people might poo-poo that as no big deal when the economy in many ways is thriving, but this is a MAJOR concern. It may be a few more years, but our economy will be crushed by this debt.
I just had a look at the growth rate of the economy in the 1960s and from 2009 to 2017.
1960-69: The economy grew a total of 51.5%
2008-2017: The economy grew 15.5%
And worst of all, the economy of the 1960s was evenly distributed among the income brackets. The paltry growth seen these days mostly go into the hands of the top 1%.
In fact we just shot ourselves in the foot in a very damaging way with the tax cuts for corporations and the rich that were passed last year- the deficit and national debt are hitting all-time highs. Sure people might poo-poo that as no big deal when the economy in many ways is thriving, but this is a MAJOR concern. It may be a few more years, but our economy will be crushed by this debt.
Well Obama bailed out corporations too big to fail and now Trump's tax cuts. Both are problematic. If you want to be partisan and only look at the debt piling up when the other side is in power, fine.
If the government loaned you a million dollars that eventually would have to be paid back. And you were expected to spend the money quickly you would look well off for a while.
That is this recovery for the past whatever years it has been. We have been spending other peoples money and going deeper in debt.
Miracle? ....... It's just common sense. Tell people who have been ripping you off that they can't do that anymore; tell people who have been walking into the country without permission that they can't do that anymore; tell the army that it's OK to shoot bad guys.; tax people less and they will become more enthusiastic about their work.
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