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Did you give Obama credit for about the first year of Trump's Presidency?
I did. I don't consider the economy being the new presidents economy until the previous presidents budget year is over. That doesn't mean the new president can't have an impact, good or bad, while under the previous presidents budget but until he has his own budget, it's not fully his administration. Just the way I look at it.
Is she stupid? 6% GDP growth? Are they all from government spending?
Those numbers are GDP increases predictions, not to be confused with actual GDP, is a 6% in 2021 vs 2020. I don't see that we will break 3% GDP for 2021 but that is still good news.
We had a 35% increase in GDP in the 3rd quarter of 2020 that Trump was raving about, of course that was preceded by a 30% drop in GDP in the 2nd quarter of 2020.
U.S. gdp growth rate for 2019 was 2.16%, a 0.77% decline from 2018.
U.S. gdp growth rate for 2018 was 2.93%, a 0.56% increase from 2017.
U.S. gdp growth rate for 2017 was 2.37%, a 0.73% increase from 2016.
U.S. gdp growth rate for 2016 was 1.64%, a 1.27% decline from 2015.
I did. I don't consider the economy being the new presidents economy until the previous presidents budget year is over. That doesn't mean the new president can't have an impact, good or bad, while under the previous presidents budget but until he has his own budget, it's not fully his administration. Just the way I look at it.
Fair points but I constantly hear the deficit in 2019 being blamed on Obama, actually some policies can extend well beyond a year into the next presidents term. Policies of the prior administration don't suddenly end in January. But a president can have some impact with proposals and planned policies that can change behavior.
We are now essentially in "economic nirvana." Let me give you some examples. On Wednesday, the Atlanta Fed raised its first-quarter GDP estimate to a 6.2% annual pace, up from 6% previously estimated. The U.S. is still expected to boost the global GDP growth rate more than China in 2021, for the first time since 2005. Since the U.S. is a robust consumer-driven market, the U.S. has the potential to keep pace and exceed China's overall GDP growth in 2021, since the U.S. economy is about one-third larger than China's.
Here's another example: March retail sales (to be released Thursday) are expected to be stunning due to the $1,400 stimulus checks that were sent out by the federal government. The $600 debit cards that were sent out by the federal government caused retail sales to soar 7.6% in January, so the expectations for March retail sales are even higher! Another example of how strong the U.S. economy is: some container ships must wait up to eight days at some U.S. ports to unload their goods due to robust consumer demand!
Last week, fewer Americans applied for unemployment benefits than at any time since March 2020. Last month, retail sales in the U.S. rose by 9.8 percent, the largest increase in nearly a year. Factory activity in the state of New York just hit its highest level since 2017; in Philadelphia, manufacturers are now more confident about business conditions than they have been since 1973. As of this writing, U.S. stock values have hit an all-time high. All of this news is better than expected. And yet the yield on U.S. Treasury bonds declined Thursday morning — a sign that global investors believe America can have its post-COVID economic boom and its low inflation, too.
In other words, it’s a good morning for “Bidenomics.”
Just basic common sense the economy would grow after being shut down for a year. Of course CEO's see growth, their bonuses depend on it.
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