Obama Policies Fueled Our Economic Boom. Don’t Let Trump And His Rich Man’s Tax Cut Steal The Credit

[Mac1958]

Good gawd, another one who thinks the stock market is the economy. It is not. Not today, not during Obama.

The rate of job growth under Obama was certainly going to be higher, given the dire situation he was handed, which was a fucking mess.

We'll never know what Obama would have done with a more normal economy. As it is, the only thing he did here was stand back and allow the Federal Reserve to pump over FOUR TRILLION DOLLARS into markets.

Just more partisan noise.
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The purse strings of the government was controlled by the GOP controlled House. How did Obama do all that supposedly {discretionary?) spending without their approval?

That's not traditional congressional discretionary spending. That's allowing the Fed broad powers. Carte Blanche. Congress most likely couldn't have stopped it.

Plus, and probably just as likely, given the magnitude of the problem, they probably knew there weren't many other choices.

And doing so probably would have looked bad politically, since a member of their own party had just left the White House with the economy in collapse. So for the most part, they kept their yaps shut.
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You premise isn't very clear

My premise is that both ends of the political spectrum are trying to make the current economic situation out to be something that it is not.

As usual.
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Good stuff, thanks.
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[MarcATL]

Our economy has something in common with the stock market in that it responds to the “Business Climate”.

As anyone who plays or has played the markets knows, the current business climate affects what businesses do and how the market responds.

Barack Hussein Obama was a self proclaimed enemy of business and the free market. He created a hostile business climate. This stifled our economy throughout his regime. The only reason it was better when he left than when he began is that even 0bama couldn’t keep the America Economy down forever.

Two things happened to make our economy better. A man who is well known to be a friend of business and the free market won the election, and the enemy of business was gone.

This ends the lesson.

No charge, you’re welcome.

This is how ignorant a far rightwing jackass like PredFan is...

His stupid, simple argument is "Trump won, therefore economy good." Although not a damned thing has changed.

ROTFLMBAO!

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Denial, that’s how you left wing nutters keep from slashing your wrists every day.

All this year they have been bitching and moaning about how Trump has changed everything, now they say nothing has changed.

You can’t fix stupid folks, just point at them and laugh.

Trump changed the courts and is making it take an extreme FAR RIGHT turn. The economy...? Not so much.

Pay attention dummy.

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[MarcATL]

Obama's economy had already chased Burger King to Canada and dozens of others to re-locate.

Obama's tax and spend socialism was putting the US on course to end up like GREECE, the Democrat "model" of left wing utopia....

LMBAO!!!!!

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[MarcATL]

BTW I was calling for W and Cheney to be put in front of a firing squad in 2004....

I don't fucking believe you for a second.

As you shouldn't.

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[rightwinger]

The Great Obama built an economic wave that Trump is just riding

Once again, Fat Donnie was born on third base and acts like he hit a triple

 

[MarcATL]

8 years of Obama, some good, some bad, lots in the middle, but must be given at least some credit for getting us through a very bad time that was thrown at him from day one.it's a big hard job to start with, the big banks failing, was scary.

Actually, I don't believe he deserves any credit at all.

The economy is a self-correcting instrument, if left alone to its natural forces. I would maintain that Obama's mucking with it slowed the recovery, and cost the people trillions of dollars. (I'm not even going to talk about the national debt). Obama completely mismanaged the recovery.

So you rate the guy who "mismanaged" the economy's recovery as WORSE than the guy who broke it in the FIRST place??!?!?? That doesn't make any type of sense.

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[mikegriffith1]

You are so detached from reality. What "economic boom"?! Obama's recovery was the weakest recovery in decades. We had several quarters of either sub-1% growth or negative growth (two quarters of negative growth). Median family income dropped and never did get back to the point where it was during the height of Bush's recovery. The average U6 unemployment rate was the worst it had been in decades, and certainly worse than it had been under Bush. And the cost of this sadly weak recovery was over $7 trillion in new debt and a tripling of the deficit.

Obama's Economic Recovery Is Now $2.2 Trillion Below Average | Stock News & Stock Market Analysis - IBD
The Reasons Behind the Obama Non-Recovery
3 Economic Facts That Counter Obama's Recovery Narrative
Obama And The Dem's Dismal Recovery

If you guys knew any history, you would know that previous recoveries included growth rates in the 5-8% range and some that exceeded 10%.

 

[Deno]

You silly liberals really want us to believe that a

community organizer that never held a real job

is responsible for the present economy......

You all need to be institutionalized.

 

[mikegriffith1]

Trump is harmful to workers' rights?! Really? How? By creating jobs at better rate than before? By giving companies that provide middle-income jobs more money to expand and hire new workers? By reducing the regulatory burden on the private sector so that business transactions cost less and thus freeing up that money to be used for more productive activities? By ending the Obamacare penalty so that workers who choose not to have health insurance won't have to pay for making that choice? Please do explain how Trump is bad for workers' rights.

 

[mikegriffith1]

Oh, we can't name one major regulation that Trump has nixed? Really? How about Dodd-Frank? Did you miss the news that Trump and the Republicans defanged Dodd-Frank? For a good review of the hundreds of millions that Trump is saving us via deregulation, see this article from The Washington Examiner:

Boom: Trump deregulation already saves $378 million, billions next year

 

[The Derp]

The 1989 "crash" cost the US taxpayer what???

The S&L Scandal, which was the cause of the 1989 crash, was the largest taxpayer-funded bailout in history...until we had to bail out the banks again with TARP 20 years later.

1929 was the stock market bubble bursting.

Yeah, do you know why the market burst in 1929???? Laissez-faire Conservatism mixed with deficit-inducing tax cuts to fuel a speculative market bubble. Which is exactly what happened in 2007-8.

 

[The Derp]

So the CORPORATE PROFIT TAX goes to WHICH COUNTRY now????The above is a great example of just what kind of economics invalid still defends Barack the BIGOT IN CHIEF...

The whole point is to avoid paying profit tax. And BK moving its corporate HQ to Canada didn't mean they closed all their US stores. Nor does it mean they'll open more stores either. Because the corporate tax rate has no bearing on expansion which happens pre-tax.

 

[easyt65]

 

[JimH52]

Recessions are cyclical and the tax cut will fuel our next recession, beginning in 2018. Kansas all over again.

 

[Toddsterpatriot]

Recessions are cyclical and the tax cut will fuel our next recession, beginning in 2018. Kansas all over again.

No tax cut, no recession............

 

[Lakhota]

Don't let Trump steal Obama's legacy.

 

[Lakhota]

RUBIO ADMITS! TAX BILL WENT ‘TOO FAR’ FOR BIG BIZ

Even a dumbass like Rubio knows it was a con job.

 

[LaDexter]

The S&L Scandal, which was the cause of the 1989 crash, was the largest taxpayer-funded bailout in history...until we had to bail out the banks again with TARP 20 years later.

Government insurance programs always end up being bailed out over and over. That doesn't stop you from supporting them. You LOVE government insurance. You loved housing/mortgage insurance that blew up to the tune of $2 trillion. You love PBGC pension insurance that cost half a trillion to bail out pensions for union workers.

You hate truth and America. You want to bankrupt America, which is why you are always for MORE GOVERNMENT INSURANCE that ALWAYS BLOWS UP because it is 100% corrupt run by left wing kleptocratic liars like yourself...

 

[LaDexter]

do you know why the market burst in 1929??

That your BIRDBRAIN can cut and paste someone else's "opinion" as your "opinion" is every post you make here.

Bottom line - housing blew up because government involvement and financial exposure to housing was dramatically escalated in the two decades prior to the point where Franklin Raines became a billionaire while the government housing insurance agency he ran into the ground cost the taxpayer $2 trillion for insuring mortgages from those who could not pay...


REWARDING FAILURE = the lasting legacy of BIG GOVERNMENT and the DEMOCRATS

 

[The Derp]

Bottom line - housing blew up because government involvement and financial exposure to housing was dramatically escalated in the two decades prior to the point where Franklin Raines became a billionaire while the government housing insurance agency he ran into the ground cost the taxpayer $2 trillion for insuring mortgages from those who could not pay...

WRONG.

According to Bush's Working Group on Financial Markets, the turmoil was caused by the "dramatic weakening of underwriting standards for subprime loans beginning in 2004 and extending into 2007". SO it wasn't government involvement that caused the Bush Economic Collapse, it was government disinvolvement because the regulators, who work for the Executive Branch, ceased the enforcement of lending standards for subprime loans beginning in 2004.

Franklin Raines has nothing to do with that.