View Full Version : Trump's Economy Fails to Achieve 3% Annual Growth for Second Year
alexa
02-28-2019, 11:01 AM
President Donald Trump’s central claim about his economic policies officially crashed into reality on Thursday.Throughout the 2016 campaign and since, the president and his party have vowed to kick-start tepid Obama-era economic growth. Specifically, they insisted tax cuts and deregulation would return growth to its post-World War II average of 3 percent — a level, candidate Trump said derisively, that President Barack Obama became “the first president in modern history” never to reach in a single year.
New government data on Thursday morning show that Trump, too, has failed to reach the 3 percent promised land, according to one major metric. The Commerce Department’s Bureau of Economic Analysis (https://www.bea.gov/news/2019/initial-gross-domestic-product-4th-quarter-and-annual-2018) measured 2018 growth at 2.9 percent, matching the peak Obama enjoyed in 2015.
https://www.cnbc.com/2019/02/28/trumps-economic-policies-failed-to-deliver-promised-3percent-growth-in-2018.html
Real GDP increased 2.9 percent in 2018 (from the 2017 annual level to the 2018 annual level), compared with an increase of 2.2 percent in 2017 (table 1).
https://www.bea.gov/news/2019/initial-gross-domestic-product-4th-quarter-and-annual-2018
At least he's keeping up with Obama this year so he's got that going for him, which is nice..
countryboy
02-28-2019, 11:06 AM
https://www.cnbc.com/2019/02/28/trumps-economic-policies-failed-to-deliver-promised-3percent-growth-in-2018.html
https://www.bea.gov/news/2019/initial-gross-domestic-product-4th-quarter-and-annual-2018
At least he's keeping up with Obama this year so he's got that going for him, which is nice..
Lol.
Safety
02-28-2019, 11:18 AM
https://www.cnbc.com/2019/02/28/trumps-economic-policies-failed-to-deliver-promised-3percent-growth-in-2018.html
https://www.bea.gov/news/2019/initial-gross-domestic-product-4th-quarter-and-annual-2018
At least he's keeping up with Obama this year so he's got that going for him, which is nice..
Won't matter to the hacks here, they'll just say it was close enough or either laugh at your OP. Two years ago, they would be shitting the bed if Obama didn't get the results he promised.
alexa
02-28-2019, 11:19 AM
Won't matter to the hacks here, they'll just say it was close enough or either laugh at your OP. Two years ago, they would be $#@!ting the bed if Obama didn't get the results he promised.
I know.
Last year was probably the high water mark for the Trump economy too.
Common
02-28-2019, 11:28 AM
It was 2.6 and thats just the first report, there are 3 more coming, plus 2.6 was higher than expected and much better than Obama the food stamp kings ever
Safety
02-28-2019, 11:30 AM
LoL
alexa
02-28-2019, 11:37 AM
It was 2.6 and thats just the first report, there are 3 more coming, plus 2.6 was higher than expected and much better than Obama the food stamp kings ever
That's the annual GDP growth for 2018.
There aren't three more coming as there's only one 2018.
Obama hit 2.9% in 2015 as the OP points out, but I understand your inability to acknowledge that..
Better than expected by whom? Trump said he'd grow the economy by 4% a year and his base ate it up with a spoon.
Safety
02-28-2019, 11:48 AM
That's the annual GDP growth for 2018.
There aren't three more coming as there's only one 2018.
Obama hit 2.9% in 2015 as the OP points out, but I understand your inability to acknowledge that..
Better than expected by whom? Trump said he'd grow the economy by 4% a year and his base ate it up with a spoon.
Damn that was embarrassing.
exotix
02-28-2019, 11:54 AM
I'm tired of Winning .. LOL
alexa
02-28-2019, 11:55 AM
Damn that was embarrassing.
Just the facts.
At one point he claimed he'd grow it at 6% according to the Socialists at Fortune magazine..
President Donald Trump is feeling pretty good about the United States’ economic prospects.
On Wednesday, Trump told reporters that he expects to see a 6% annual growth rate. That might not sound like a wild number, until you consider that 6% more than doubles the 30-year average rate of 2.5% (https://www.cnbc.com/2017/12/06/trump-defies-data-with-6-percent-gdp-growth-forecast.html). Six percent is also more than triple what the Congressional Budget Office forecasts for the next ten years
http://fortune.com/2017/12/07/trump-us-gdp-growth-rate-economy-6-percent/
I don't think anyone bought that one. lol
alexa
02-28-2019, 11:56 AM
I'm tired of Winning .. LOL
Aren't we all?
Safety
02-28-2019, 11:56 AM
I'm tired of Winning .. LOL
With winning like this, who needs the Browns?
Tahuyaman
02-28-2019, 12:09 PM
Trump's Economy Fails to Achieve 3% Annual Growth for Second Year
Theres another recent president who had eight straight years where we never achieved 3% growth. Those years were reported as an economic boom.
alexa
02-28-2019, 12:31 PM
Trump's Economy Fails to Achieve 3% Annual Growth for Second Year
Theres another recent president who had eight straight years where we never achieved 3% growth. Those years were reported as an economic boom.
I'll be happy to review the reports to which you refer once you put up links.
You do have those reports, right?
Cotton1
02-28-2019, 12:41 PM
It was 2.6 and thats just the first report, there are 3 more coming, plus 2.6 was higher than expected and much better than Obama the food stamp kings ever
Bingo. One thing is certain, if you understand finance you realize the joke obama was. The GDP to debt ratio was 61% o'blamer took office. It was 104% when he left. Considering 90% is widely regarded as the "tipping point" thats a hell of a mess. We are still in a mess but at least now GDP Is keeping up with debt levels.
zachroidott
02-28-2019, 12:42 PM
Aren't we all?
The economy slows, and you win. Go team idiot!
alexa
02-28-2019, 12:42 PM
The economy slows, and you win. Go team idiot!
How long have you been captain?
alexa
02-28-2019, 12:43 PM
Bingo. One thing is certain, if you understand finance you realize the joke obama was. The GDP to debt ratio was 61% o'blamer took office. It was 104% when he left. Considering 90% is widely regarded as the "tipping point" thats a hell of a mess. We are still in a mess but at least now GDP Is keeping up with debt levels.
It was 2.9% and as I pointed out to the other acolyte, there's only one 2018.
Cotton1
02-28-2019, 12:46 PM
It was 2.9% and as I pointed out to the other acolyte, there's only one 2018.
Thats a healthy growth rate. And again I emphasize that unlike Obama at least the GDP is keeping a steady ratio with debt.
zachroidott
02-28-2019, 12:47 PM
How long have you been captain?
I don't play. Nice try.
Tahuyaman
02-28-2019, 12:47 PM
Remember when the hacks here were giving Obama credit for the current condition of our economy and jobs situation?
Cotton1
02-28-2019, 12:52 PM
Remember when the hacks here were giving Obama credit for the current condition of our economy and jobs situation?
Obama is an idiot. He was a racist that was a good race baiter and good provoker of class warfare.
Tahuyaman
02-28-2019, 12:55 PM
Remember when the hacks here were giving Obama credit for the current condition of our economy and jobs situation?
Obama is an idiot. He was a racist that was a good race baiter and good provoker of class warfare.
How does that have anything to do with the question?
Cotton1
02-28-2019, 12:57 PM
How does that have anything to do with the question?
My point was Obama knew nothing about the economy. He was a simpleton. Dont try me on finance, you'll lose everytime
Cotton1
02-28-2019, 12:58 PM
Am I arrogant? You bet.
Tahuyaman
02-28-2019, 01:05 PM
Am I arrogant? You bet.
I would hesitate to call it arrogance.
Tahuyaman
02-28-2019, 01:06 PM
My point was Obama knew nothing about the economy. He was a simpleton. Dont try me on finance, you'll lose everytime
Don't try you on finance? Ok........
alexa
02-28-2019, 01:12 PM
Thats a healthy growth rate.
I never said it wasn't. Trump did.
And again I emphasize that unlike Obama at least the GDP is keeping a steady ratio with debt.
The economy grew 2.2% in 2017.
The debt went from $19.15T to $20.24T, an increase of 3.5%
The economy grew 2.9% in 2018
The debt went from $20.24T to $21.97T, an increase of over 8%
Please explain how this is good news.
Thanks
alexa
02-28-2019, 01:22 PM
Remember when the hacks here were giving Obama credit for the current condition of our economy and jobs situation?
I still do.
That whooshing sound is the point of the the thread going over your head, BTW.
Tahuyaman
02-28-2019, 01:24 PM
Two very different but strange responses to my comment.
Cotton1
02-28-2019, 01:27 PM
I never said it wasn't. Trump did.
The economy grew 2.2% in 2017.
The debt went from $19.15T to $20.24T, an increase of 3.5%
The economy grew 2.9% in 2018
The debt went from $20.24T to $21.97T, an increase of over 8%
Please explain how this is good news.
Thanks
Please admit you know NOTHING about GDP to debt ratios. At the end of the day thats the bottom line. I think Trump has done a wonderful job. Look at the unemployment rate.
alexa
02-28-2019, 01:40 PM
Please admit you know NOTHING about GDP to debt ratios. At the end of the day thats the bottom line. I think Trump has done a wonderful job. Look at the unemployment rate.
At the end of the day he claimed Obama was the only modern president to fail to achieve 3% GDP annual growth and that Trump would grow the economy 4% a year.
How's that going?
Tahuyaman
02-28-2019, 01:55 PM
Our economy is in better condition today than it has been at any time over the last 12 years. Still we can do better.
It is a fact that Obama is the only US president who never had a single year where the annual growth rate hit 3%.
If if we do achieve 3% or better during Trump's term or terms in office, the Democrats will take credit for it or they will give credit to Obama. Then they will go out and campaign on how horrible the economy is.
Cannons Front
02-28-2019, 01:57 PM
Bottom line I guess is the economy is growing, Unemployment is shrinking these are good things, now the bad, spending is not going down, deficit spending is not going down and growth is not as good as hoped or predicted.
Since someone decided to bring in the Debt, https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
Barack Obama (https://www.thebalance.com/what-has-obama-done-11-major-accomplishments-3306158): Added $8.588 trillion, a 74 percent increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009, the most dollar-wise but puts him 5th all time % wise. FDR holds that title.
As projected in the FY 2019 budget, Trump plans to add $4.775 trillion, a 29 percent increase from the $20.245 trillion debt at the end of Obama's last budget for FY 2017.
Calvin Coolidge is the last president to not increase it.
Generally speaking Congress is to blame for the debt and deficit, both sides of the isle like to spend money neither like to cut spending. Look at 2016 one of Obamas worst years, Mandatory spending (https://www.thebalance.com/current-federal-mandatory-spending-3305772) came in lower than the president's estimate. Congressional appropriations for discretionary spending (https://www.thebalance.com/current-us-discretionary-federal-budget-and-spending-3306308) programs were higher. this is how it works nearly every year.
Tahuyaman
02-28-2019, 02:02 PM
Bottom line I guess is the economy is growing, Unemployment is shrinking these are good things, now the bad, spending is not going down, deficit spending is not going down and growth is not as good as hoped or predicted.
Since someone decided to bring in the Debt, https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
Barack Obama (https://www.thebalance.com/what-has-obama-done-11-major-accomplishments-3306158): Added $8.588 trillion, a 74 percent increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009, the most dollar-wise but puts him 5th all time % wise. FDR holds that title.
As projected in the FY 2019 budget, Trump plans to add $4.775 trillion, a 29 percent increase from the $20.245 trillion debt at the end of Obama's last budget for FY 2017.
Calvin Coolidge is the last president to not increase it.
Generally speaking Congress is to blame for the debt and deficit, both sides of the isle like to spend money neither like to cut spending. Look at 2016 one of Obamas worst years, Mandatory spending (https://www.thebalance.com/current-federal-mandatory-spending-3305772) came in lower than the president's estimate. Congressional appropriations for discretionary spending (https://www.thebalance.com/current-us-discretionary-federal-budget-and-spending-3306308) programs were higher. this is how it works nearly every year.
Debt is the current drag on the economy.
alexa
02-28-2019, 02:04 PM
Our economy is in better condition today than it has been at any time over the last 12 years. Still we can do better.
It is a fact that Obama is the only US president who never had a single year where the annual growth rate hit 3%.
If if we do achieve 3% or better during Trump's term or terms in office, the Democrats will take credit for it or they will give credit to Obama. Then they will go out and campaign on how horrible the economy is.
Trump's 0 for 2 so far.
I'm sure he'll do better though.
So much winning
Cannons Front
02-28-2019, 02:08 PM
At the end of the day he claimed Obama was the only modern president to fail to achieve 3% GDP annual growth and that Trump would grow the economy 4% a year.
How's that going?
His estimate was wrong on growth, clearly that is the case however he is not the only one that has failed on economic promises https://www.politifact.com/truth-o-meter/promises/obameter/subjects/economy/ Not bashing Obama just showing facts few people in the White House live up to what they promise when it comes to the economy Obama is just the first I found that laid it out.
Chris
02-28-2019, 02:09 PM
To me it's always been kind of goofy to think one person, the President, can take credit or blame for the economy.
Safety
02-28-2019, 02:13 PM
How long have you been captain?
:roflmao:
Safety
02-28-2019, 02:14 PM
To me it's always been kind of goofy to think one person, the President, can take credit or blame for the economy.
LuLz.
Safety
02-28-2019, 02:15 PM
I never said it wasn't. Trump did.
The economy grew 2.2% in 2017.
The debt went from $19.15T to $20.24T, an increase of 3.5%
The economy grew 2.9% in 2018
The debt went from $20.24T to $21.97T, an increase of over 8%
Please explain how this is good news.
Thanks
You might do better having that economic discussion with your dog.
alexa
02-28-2019, 02:23 PM
To me it's always been kind of goofy to think one person, the President, can take credit or blame for the economy.
Tell Trump.
Peter1469
02-28-2019, 02:37 PM
That's the annual GDP growth for 2018.
There aren't three more coming as there's only one 2018.
Obama hit 2.9% in 2015 as the OP points out, but I understand your inability to acknowledge that..
Better than expected by whom? Trump said he'd grow the economy by 4% a year and his base ate it up with a spoon.
I said 4% was unlikely, and not a good thing to boot. It is the sign of an over heated market.
Reason3415
02-28-2019, 03:35 PM
At the end of the day he claimed Obama was the only modern president to fail to achieve 3% GDP annual growth and that Trump would grow the economy 4% a year.
How's that going?
Not bad considering the Fed Funds rate was 0% through most of Obama's presidency and there have been 8 rate increases since Trump was elected. That needs to be factored in as well.
Cotton1
02-28-2019, 03:46 PM
At the end of the day he claimed Obama was the only modern president to fail to achieve 3% GDP annual growth and that Trump would grow the economy 4% a year.
How's that going?
Not so bad actually. Trump doesnt have a magic wand but its impossible to deny he has done a much better job than obama. Trumps history had yet to be written . obamas history has been written and it isnt good. BTW, how about the manufacturing jobs increase under Trump? obama had a tough time even getting the halfwits among us a job. The business community didnt like obama. I understand why.
Chris
02-28-2019, 03:58 PM
Tell Trump.
I'm telling you, alexa.
Tahuyaman
02-28-2019, 04:47 PM
I said 4% was unlikely, and not a good thing to boot. It is the sign of an over heated market.
I don't believe 4% is indicitave of an over heated market. I think we've just been in a period of lower growth so long that we now view slightly better than mediocrity as robust growth.
AZ Jim
02-28-2019, 04:49 PM
Lol.A very astute comment from one of our brain trusts.
countryboy
02-28-2019, 04:54 PM
A very astute comment from one of our brain trusts.
Lol. Wait, didn't flounce outta here a while back?
Lololololol.....http://thepoliticalforums.com/threads/103979-So-lets-start-with-my-sincere-hope-for-a-Merry-Christmas-for-all
Peter1469
02-28-2019, 05:43 PM
I don't believe 4% is indicitave of an over heated market. I think we've just been in a period of lower growth so long that we now view slightly better than mediocrity as robust growth.
I should have said long term 4% growth is a hint of over heating. Certainly every now and then it is good.
Common
02-28-2019, 05:44 PM
Never a single utterance of a complaint then lol
Following today's extremely disappointing US GDP growth data (http://www.zerohedge.com/news/2017-01-27/q4-gdp-misses-big-exports-tumble-us-economy-grows-paltry-16-2016), we have the final nail in the coffin of President Obama's economic reign. Not only is the average annual growth rate of just 1.48% during Obama's business cycle the weakest of any expansion since at least 1949, he has just become the only President to have not had even one year of 3% GDP growth.https://www.zerohedge.com/news/2017-01-27/barack-obama-now-only-president-history-never-have-year-3-gdp-growth
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