Economy Reaches Longest Expansion in U.S. History

[Terri4Trump]

Economy Reaches Longest Expansion in U.S. History in Third Quarter of 2019, Beats Market Expectations
Economy Reaches Longest Expansion in U.S. History in Third Quarter of 2019, Beats Market Expectations

The current economic expansion, which began roughly a decade ago, became the longest in U.S. history on July 1, 2019, beating the previous record that lasted from March 1991 through March 2001. As today’s advance Gross Domestic Product (GDP) release confirms, economic growth continued in the third quarter of 2019, beating market expectations and adding to the expansion’s record length. The release also confirms that the Trump Administration’s policies support sustained economic growth and lead to higher incomes for American families.

In its final projection before the 2016 election, the Congressional Budget Office (CBO) estimated that real GDP would grow at a 2.1 percent annual rate in the first 11 quarters of a new Administration. Instead, under President Trump, real GDP as of the third quarter has grown at a strong 2.6 percent annual rate since the election. As of the third quarter, real GDP is $230 billion—or 1.2 percent—higher than CBO’s projection (Figure 1). Furthermore, under President Obama’s expansion period, real GDP grew at only a 2.2 percent annual rate compared to the Trump Administration’s 2.6 percent rate.

ME: Yes I know this is a couple of months old but the historic landmark of the Economy Reaching the Longest Expansion in U.S. History is important to note in the current climate.

 

[Crepitus]

You are aware that someone besides tRump presided over most of that?

 

[Harpy Eagle]

You are aware that someone besides tRump presided over most of that?

you give her far too much credit. Her entire world started the day Trump won the election.

 

[Crepitus]

You are aware that someone besides tRump presided over most of that?

you give her far too much credit. Her entire world started the day Trump won the election.

I really think this one has a cubicle and a computer in Moscow.

 

[Terri4Trump]

You are aware that someone besides tRump presided over most of that?

I am aware that when the numbers are drilled down into, that Obama's gains were fake and based on smoke and mirrors and Trump's are not. Growth under Obama was based on inflated government spending especially in healthcare,m and the jobs he created were only part time. It looks good on a graph but does not help real people.

Trump has brought back real growth are real jobs. Maybe you should go get a job and shut your faggot ass piehole.

you give her far too much credit. Her entire world started the day Trump won the election.

And you punk coward ass can shut up., bitch

 

[blastoff]

All due I guess to the brilliance of Barry’s leading the new normal from behind while assuring departing jobs were never coming home.

 

[Terri4Trump]

Two Years On, Tax Cuts Continue Boosting the United States Economy
Two Years On, Tax Cuts Continue Boosting the United States Economy | The White House

December 22 marks 2 years since President Donald J. Trump signed the Tax Cuts and Jobs Act (TCJA). TCJA’s pro-growth reforms of individual and corporate taxes were the largest tax cut in United States history. Additionally, since TCJA’s passage, United States multinational enterprises have repatriated $1 trillion in past overseas earnings that were previously invested abroad.

Prior to TCJA’s passage, CEA made a number of predictions about the legislation’s long-term effects on economic growth, business investment, wages, and the labor market. Though TCJA’s full economic benefits will require additional time to materialize, CEA’s projections have been largely borne out.

A major TCJA provision allows businesses to immediately and fully deduct the cost of new capital investments, enabling them to invest more in their operations. CEA predicted an initial increase in the investment growth rate during the transition to an elevated steady state.

Investment levels have been notably higher in the post-TCJA period than Blue Chip’s pre-TCJA projections from October 2016. In 2018, investment was 4.5 percent higher than the projections. In 2019, investment was 3.3 percent higher than the projections and the capital stock is on track to expand across each major asset class (equipment, structures, and intellectual property products).

Additionally, TCJA provided much needed tax relief for America’s small businesses by letting certain pass-through entities deduct 20 percent of their qualified business income. As a result, over 80 percent of small firms believe that TCJA had a significant impact on the economy and over 50 percent believe it had a positive effect on their business, according to the National Federation of Independent Business.

CEA estimated that a drop in the corporate tax rate would increase average United States household income by $4,000 over 5 or so years. The individual tax cuts, which were not included in CEA’s $4,000 forecast, also boosted disposable income for most households. For example, this year, TCJA’s doubling of the child tax credit will benefit 40 million American families, each receiving an average of over $2,200 dollars.

Altogether, real disposable personal income per household has risen by about $6,000 since TCJA was signed into law. Of that, our best estimate is that $1,500 to $2,900 (in real 2019 dollars) is due to the combination of TCJA’s individual and corporate tax reforms, meaning that a substantial portion of our estimated five-year income gains of $4,000 have already been realized.

The $1,500 lower-bound estimate is based on the divergence of real salary and wage compensation per household—a pre-tax measure that reflects corporate tax cuts, but not individual tax cuts—from the Congressional Budget Office’s (CBO) final pre-TCJA projections in June 2017 (shown in the figure below). The $2,900 upper-bound estimate is based on the divergence of real disposable personal income per household—a post-tax measure that incorporates the effects of both corporate and individual tax cuts—from the March 2017 Blue Chip projections.

By increasing businesses investment and worker earnings, TCJA has also supported today’s strong labor market. The United States unemployment rate continues to fall below pre-2016 election forecasts and reached 3.5 percent this year, the lowest rate in a half-century. A surge in labor demand means that for the first time since job openings data began to be collected, there are more job openings than unemployed people. Openings have now outpaced unemployed people for 20 straight months.

 

[Terri4Trump]

All due I guess to the brilliance of Barry’s leading the new normal from behind while assuring departing jobs were never coming home.

Thank you. How soon these little socialist snots forget that the Kenyan Pig said that his rotten economy was the new norm that we'd all have to get used to, and then Trump came in and proved Obama to be the liar and imbecile he is

 

[pknopp]

Take the trillions that the Fed has pumped out of the economy and we are well into the negative.

 

[Terri4Trump]

Take the trillions that the Fed has pumped out of the economy and we are well into the negative.

Elaborate

 

[Harpy Eagle]

Two Years On, Tax Cuts Continue Boosting the United States Economy
Two Years On, Tax Cuts Continue Boosting the United States Economy | The White House

December 22 marks 2 years since President Donald J. Trump signed the Tax Cuts and Jobs Act (TCJA). TCJA’s pro-growth reforms of individual and corporate taxes were the largest tax cut in United States history. Additionally, since TCJA’s passage, United States multinational enterprises have repatriated $1 trillion in past overseas earnings that were previously invested abroad.

Prior to TCJA’s passage, CEA made a number of predictions about the legislation’s long-term effects on economic growth, business investment, wages, and the labor market. Though TCJA’s full economic benefits will require additional time to materialize, CEA’s projections have been largely borne out.

A major TCJA provision allows businesses to immediately and fully deduct the cost of new capital investments, enabling them to invest more in their operations. CEA predicted an initial increase in the investment growth rate during the transition to an elevated steady state.

Investment levels have been notably higher in the post-TCJA period than Blue Chip’s pre-TCJA projections from October 2016. In 2018, investment was 4.5 percent higher than the projections. In 2019, investment was 3.3 percent higher than the projections and the capital stock is on track to expand across each major asset class (equipment, structures, and intellectual property products).

Additionally, TCJA provided much needed tax relief for America’s small businesses by letting certain pass-through entities deduct 20 percent of their qualified business income. As a result, over 80 percent of small firms believe that TCJA had a significant impact on the economy and over 50 percent believe it had a positive effect on their business, according to the National Federation of Independent Business.

CEA estimated that a drop in the corporate tax rate would increase average United States household income by $4,000 over 5 or so years. The individual tax cuts, which were not included in CEA’s $4,000 forecast, also boosted disposable income for most households. For example, this year, TCJA’s doubling of the child tax credit will benefit 40 million American families, each receiving an average of over $2,200 dollars.

Altogether, real disposable personal income per household has risen by about $6,000 since TCJA was signed into law. Of that, our best estimate is that $1,500 to $2,900 (in real 2019 dollars) is due to the combination of TCJA’s individual and corporate tax reforms, meaning that a substantial portion of our estimated five-year income gains of $4,000 have already been realized.

The $1,500 lower-bound estimate is based on the divergence of real salary and wage compensation per household—a pre-tax measure that reflects corporate tax cuts, but not individual tax cuts—from the Congressional Budget Office’s (CBO) final pre-TCJA projections in June 2017 (shown in the figure below). The $2,900 upper-bound estimate is based on the divergence of real disposable personal income per household—a post-tax measure that incorporates the effects of both corporate and individual tax cuts—from the March 2017 Blue Chip projections.

By increasing businesses investment and worker earnings, TCJA has also supported today’s strong labor market. The United States unemployment rate continues to fall below pre-2016 election forecasts and reached 3.5 percent this year, the lowest rate in a half-century. A surge in labor demand means that for the first time since job openings data began to be collected, there are more job openings than unemployed people. Openings have now outpaced unemployed people for 20 straight months.

3.21 trillion dollars added to the national debt since the signing of the tax cut...

 

[Meathead]

You are aware that someone besides tRump presided over most of that?

You mean that clueless colored fella?

 

[Harpy Eagle]

You are aware that someone besides tRump presided over most of that?

You mean that clueless colored fella?

The orange one or the other one?

 

[pknopp]

Take the trillions that the Fed has pumped out of the economy and we are well into the negative.

Elaborate

What is there to elaborate on? What I said was very clear.

 

[anynameyouwish]

You are aware that someone besides tRump presided over most of that?

You mean that clueless colored fella?

The orange one or the other one?

zing....

Nice retort!

3 points and a gold star for you!

 

[Terri4Trump]

You mean that clueless colored fella?

The Socialist Kenyan Pig

 

[Meathead]

You are aware that someone besides tRump presided over most of that?

You mean that clueless colored fella?

The orange one or the other one?

So Trump is a person of color? Then I meant the clueless dusky brownish guy.

 

[Terri4Trump]

You are aware that someone besides tRump presided over most of that?

You mean that clueless colored fella?

The orange one or the other one?

So Trump is a person of color? Then I meant the clueless dusky brownish guy.

 

[Harpy Eagle]

You are aware that someone besides tRump presided over most of that?

You mean that clueless colored fella?

The orange one or the other one?

So Trump is a person of color? Then I meant the clueless dusky brownish guy.

Ok, was not sure if you meant him or the clueless orange guy.

Thanks for clearing that up.

 

[Terri4Trump]

US economy receives its best ranking in nearly 20 years, CNN poll finds - CNNPolitics