Economic Growth beats Forecasts

[JimH52]

Boost for Obama as US economic growth beat forecasts | World news | The Guardian

 

[jwoodie]

Pretty proud of a projected 2% increase in GDP?

 

[RoadVirus]

Not very impressive, since most of it was due to government spending!

 

[OKTexas]

Will you post it again when they revise it down, as they usually do?

 

[blackhawk]

A whole 2%

 

[theHawk]

Boost for Obama as US economic growth beat forecasts | World news | The Guardian

Much of which is due to end of fiscal year spending by the government, especially the DoD.

Thank God for that military-industrial complex.

 

[Trajan]

Boost for Obama as US economic growth beat forecasts | World news | The Guardian

Much of which is due to end of fiscal year spending by the government, especially the DoD.

Thank God for that military-industrial complex.

at 9.6% fed growth in spending, thats about the size of it.

 

[tyroneweaver]

so there's no excuse about congress cutting defense spending when the dod is spending more.

 

[Charles_Main]

Boost for Obama as US economic growth beat forecasts | World news | The Guardian

One Problem, Ever single quarter of GDP growth they have released in the last 4 years, was later revised down. This time will be no different, shortly after the election we will hear, on page 12 instead of the Front Page of course, that it has been revised down to 1.5 or so.

Mark my words.

Besides, if 2.0 GDP growth is grounds for Cheering we have some real issues.

 

[sealybobo]

Boost for Obama as US economic growth beat forecasts | World news | The Guardian

U.S. Economy Slows: Trump's 3% Growth Pledge Now In Rearview Mirror

U.S. economic growth fell to a 2.1% annual rate in the second quarter — down from a 3.1% pace in the first three months of 2019, the Commerce Department said.

President Trump has targeted a growth rate of 3% or above, citing the Republican tax cuts passed in 2017. But some studies have found that the tax cuts passed have done little to boost growth, in part because most of the benefit went to wealthy people and corporations.

What did I tell you?

U.S. Economy Slows: Trump's 3% Growth Pledge Now In Rearview Mirror

 

[sealybobo]

Boost for Obama as US economic growth beat forecasts | World news | The Guardian

One Problem, Ever single quarter of GDP growth they have released in the last 4 years, was later revised down. This time will be no different, shortly after the election we will hear, on page 12 instead of the Front Page of course, that it has been revised down to 1.5 or so.

Mark my words.

Besides, if 2.0 GDP growth is grounds for Cheering we have some real issues.

Trump was at 2.1 in the second quarter. So you will admit his economy sucks compared to what was promised?

And it is absolutely Trump's fault. The trade wars he started a huge reason the economy has slowed.

 

[sealybobo]

Pretty proud of a projected 2% increase in GDP?

U.S. economic growth fell to a 2.1% annual rate in the second quarter — down from a 3.1% pace in the first three months of 2019, the Commerce Department said.

So then you are going to vote Trump out of office right?

 

[The Original Tree]

Boost for Obama as US economic growth beat forecasts | World news | The Guardian

When is Obama going to jail? Now that he has left office, we can now prosecute him for all The Felonies he and Clinton committed in Office.

One such crime is his 1% GDP average over his 8 years of punishing America while in office.

 

[sealybobo]

Boost for Obama as US economic growth beat forecasts | World news | The Guardian

When is Obama going to jail? Now that he has left office, we can now prosecute him for all The Felonies he and Clinton committed in Office.

One such crime is his 1% GDP average over his 8 years of punishing America while in office.

Well Trump promised better and he's giving us no better. Or, it wasn't worth the massive tax breaks he gave the rich and corporation. Those tax breaks were supposed to give us decades of growth! Fucking liars.

U.S. Economy Slows: Trump's 3% Growth Pledge Now In Rearview Mirror

government spending surged 5%.

If government spending didn't surge, Trump's growth number is probably more like 1.9%.

What has changed since Trump took office? His talking points. Because if you look at the numbers, he's no better than Obama was.

President Trump loves to extol the economic performance of the United States under his watch, frequently (if inaccurately) saying it’s the best economy in U.S. history.

The president often suggests that the current economy is a sharp turnabout from the Obama years, even though the economy he inherited from President Barack Obama was already doing pretty well, with low unemployment, low inflation and a roaring stock market.

There might be a reason Trump believes that the economy has sharply improved — he constantly said the Obama economy was terrible. He even had the fake facts to prove it.

We debunked many of Trump’s economic claims during the campaign. But we wondered how today’s economy would look if the numbers were calculated under the same metrics used by candidate Trump.

The 'phony’ unemployment rate
“Our real unemployment rate is 42 percent.”

‘A silent nation of jobless Americans’
“Right now, 92 million Americans are on the sidelines outside of the workforce, and they’re not a part of our economy. It’s a silent nation of jobless Americans.”

African American youth unemployment
“Look at how much African American communities are suffering from Democratic control. … Fifty-eight percent of your youth is unemployed, what the hell do you have to lose?”

Having made so many inaccurate claims about the health of the economy under Obama, it is little wonder that Trump might believe he’s performed an economic miracle now that he is relying on official government data. But as our exercise demonstrates, his record does poorly — or looks even worse — when the numbers are recalculated under his old campaign math.

The irony is that the generally rosy economic news under Obama was not felt evenly across the country — and thus Trump’s campaign skepticism about the official numbers probably struck a chord with voters. Even after the sustained recovery from the Great Recession, a key employment metric — the employment-population ratio for people in the prime working years of 25 to 54 — still has not achieved parity with the level before that economic downturn. That suggests the economy is not operating at its full potential despite Trump’s boosterism.

At The Fact Checker, we were amazed at how quickly Trump embraced the official data after he repeatedly denounced it. In light of how his record would look under his campaign math, perhaps it should not have been a surprise.