President Trump oversaw falling Federal deficits, which is not surprising since he inherited the Great Recession. President Trump is generating unprecedented $1 trillion deficits in a growing economy.
www.forbes.com
President Trump on the other hand was handed an economy that was growing. In 2017, his first year in office the deficit grew to $666 billion, was $984 billion last year and is projected to be over $1 trillion in 2020 at $1.02 trillion. This would be a 74% increase in just four years and going forward the Federal deficit could escalate to $1.7 trillion in 2030.
When you compare the last three years of Obama’s Presidency vs. Trump’s first three years, Trump’s deficits will be almost $1 trillion greater at $2.47 trillion to $1.51 trillion for Obama. It doesn’t look like Trump’s tax cuts will pay for themselves.
Unprecedented deficits when the economy is growing
The Federal deficit is forecast to be 4.6% of GDP in fiscal 2020 while the economy’s real growth rate is a projected to be 2.2%. This growth rate is
in-line with the economy growing at essentially 2.1% the last three quarters.
As shown in the two graphs below, since 1970 the only times, until now, that the deficit has been above 4% of GDP is when there has been a recession.
Every single article is pro Obama and anti Trump.
No bias there folks....
Numbers aren’t biased. It’s clear trump policy drastically increased deficits.
Right and our revenues have increased annually. You admit we have an expense problem. Thank you for that.
Yes trump tax cuts decreased the rate of revenue growth adding to deficits.
Nope.
In the end, Jones admits that “the tax cuts gave the economy an initial boost.” Why did that happen?
Because
tax cuts allow more growth dollars to remain in the private sector (aka “the economy”).
Similarly, spending increase put more dollars into the private sector.
We have had no more growth than Obama with a huge increase in deficits.
We have the same growth but lower taxes? GREAT. Don't forget the trade war and entitlements. We are only in inning 5 of a 9 inning game.
Yes trump policy failed to increase growth as he promised.
Yes trump policy failed to increase growth as he promised.
Real GDP in 2016 was +1.6%.
Trillion dollar deficits got us nothing.
President Trump says the economy is the best ever. When you look at GDP growth rates, one quickly realizes he is gaslighting the American public. Each of the last three years of Obama’s economy were stronger than Trump’s 2019 once adjusted for trade, inventory impacts and government spending.
www.forbes.com
You said he failed to increase growth.
Clearly you were mistaken.
Nope, Obama growth was better, and he did it without trillion dollar deficits.
President Trump says the economy is the best ever. When you look at GDP growth rates, one quickly realizes he is gaslighting the American public. Each of the last three years of Obama’s economy were stronger than Trump’s 2019 once adjusted for trade, inventory impacts and government spending.
www.forbes.com
Nope, Obama growth was better
Obama's 2016 was +1.6%.
Trump had
2017 +2.4%
2018 +2.9%
2019 +2.3%
Real GDP under Obama since the Great Recession... 2.4%
Real GDP under Impeached Trump... 2.6%
“We're bringing it [GDP] from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.” ~ Impeached Trump
Meanwhile, Impeached Trump is the only president recorded to not have a single quarter of real GDP exceed 3.5% growth.
Ummmm....COVID-19
Deranged lunatic, what about COVID-19??
Impeached Trump had to deal with COVID-19. He was only impeached in January? Before that he was just Trump. Not following your logic.
Deranged lunatic, what does COVID-19 have to do with Impeached Trump's 2.6% GDP??
When did he have 2.6% GDP?
LOLOL
Deranged lunatic, if you don't even know what the **** I'm talking about, why the **** are you injecting COVID-19 into a discussion about GDP??
Not to mention, I already said where the 2.6% GDP comes from.
So answer the question, what does COVID-19 have to do with Impeached Trump's 2.6% GDP??
When was GDP 2.6%? Trump was impeached? When? Before or after the 2.6%. I cannot follow your illogic.
"When was GDP 2.6%?
Already stated.
"Trump was impeached? When?"
December 18th, 2019
"I cannot follow your illogic."
Because you're a flaming idiot.
Now what does COVID-19 have to do with Impeached Trump's 2.6% GDP??
Why are you so afraid to answer??
Stated? When?
Post #794.
Why are you so afraid to answer??
What does COVID-19 have to do with Impeached Trump's 2.6% GDP??
It doesn’t say when? You mean FYE’19?
Since Impeached Trump's been president.
Now wtf does COVID-19 have to do with that?
Should I just write you off as the forum's biggest ***** who's too scared to explain his disconnected thoughts on COVID-19?
Impeached Trump has only been president since mid December? I am not following your logic.
That's because you're an utter moron who apparently doesn't know when he became president or what COVID-19 has to do with GDP on his watch.
Faun: Real GDP under Impeached Trump... 2.6%
AzogtheDefiler: Ummmm....COVID-19
Here, I'll answer the question you're too skeered to answer....
What does COVID-19have to do with Impeached Trump's 2.6% real GDP growth?
Absolutely ******* nothing. The latest GDP figures go only through Q4-2019,
before COVID-19 had any impact on our economy.
So when you tried blaming COVID-19, you really exposed yourself as a 5th Avenuer whose lios are so far up Impeached Trump's fat ass, you can taste what he had for lunch since here you are, making up excuses for his 2.6% growth that have absofuckinglutely nothing to do with it.
Now everyone here sees why you flat out refused to answer that question.