Quote:
Originally Posted by Pete F.
As usual when the facts conflict with Trump's statements, you deflect to something else.
Here are some more fun facts
1. GDP Growth Was Higher on Average under Obama in 2014 and 2015 Than Compared to Trump in 2017 and 2018
2. Monthly Job Growth Was Higher under Obama Than in Trump’s First Two Years
3. The Unemployment Rate Was Falling Faster under Obama in 2014 and 2015 than in Trump’s First Two Years
4. Growth in the Employment-to-Population Rate Has Slowed under Trump
5. Wage Growth Grew Sharply in 2016 and 2017—Until 2018, When It Slowed
6. The Racial Pay Gap Declined in Obama’s Final Years—It Has Widened Under Trump
7. Adult and Child Poverty Rates Have Fallen—But Much Faster under Obama
8. The Federal Deficit Is Growing Rapidly under Trump
9. Growth in Worker Productivity Rose Slowly under Both Trump and Obama—But Remains Weak under Trump
10. Despite Trump’s Massive Corporate Tax Cuts, Business Investment Isn’t Growing “Like Never Before”
11. It’s True Stocks Are at Their Highest Levels—But Stock Prices Grew Faster after the Reelections of Both Clinton and Obama
12. A new report from The Center for the Study of Hate and Extremism, headquartered at California State University in San Bernardino, has found that hate crimes rose 9% in 30 major American cities in 2018. That is the steepest rise since 2015 and the total number of hate crimes has now gone up for the fifth consecutive year. That is despite overall U.S. crime rates continuing to fall across the cities included in the report.
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Those economic factoids are meaningless without further comparison. You keep reminding us that Obama inherited economic disaster and that Trump inherited a strong and booming economy. Well, if that's true, it would stand to reason that the rate of increase would be faster from a bad economy to a good one than the rate of growth from a good one to a better one. The rate of increase from one to two is 100%, but from two to three it is only 50%, and from 3 to 4 it is only 33%, and diminishing as the growth gets higher.
Racial pay gap may have widened (how much?) under Trump, but racial pay has gone up.
The federal deficit also grew rapidly under Obama, as well as under Bush, and others. All were because the Federal Government spends more money on things that are not constitutionally its domain to regulate or spend on. One of the big ticket items that Trump spent on was actually a Federal Government constitutional responsibility, the military, which Obama underspent on, partially in order to spend more on unconstitutional stuff, and partly because of political ideology. And Trump signed the big Congressional spending bill because that was the only way to get the military funding. Blaming trump for the deficit, is a bit narrow minded. Congress is responsible for spending, not the President. The Dems have control of the House.
I don't know what "like never before" is supposed to mean ("before" could be bad or good, low or high, rates--or just different). Business investment might not be "like never before," but it is happening better than the previous administration.
Growth in worker productivity is not a Presidential responsibility. You say it grew slowly under both Trump and Obama but remains weak under Trump. That sounds like a tie for something that Presidents should leave to the private sector to increase. And maybe worker productivity was already high so growth would perforce be at a low rate (see above ratio in growth between low and higher numbers).
Growing stock prices may indicate different things. Huge rises in prices could actually signal investment away from lack of business growth to investment in money markets and financial markets in general. It's not necessarily a good thing for the "economy" when money is invested that way rather than in actual business ventures. I'm not a fan of the inflated stock prices that don't seem to be directly related to business growth. It may also well be a hedge against the inflation caused by Government printing of excess money and Government spending more than it can repay.
Well if hate crimes have gone up for the fifth consecutive year, then it seems that something happened to cause that before Trump became President. A lot of people sure hate Trump and Trumplicans.