Obama Takes Credit For Booming Economy

Discussion in 'Political Opinions & Beliefs' started by Just A Man, Feb 18, 2020.

  1. Just A Man

    Just A Man Well-Known Member

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    “He (Obama) had the WEAKEST recovery since the Great Depression, despite Zero Fed Rate & MASSIVE quantitative easing. NOW, best jobs numbers ever. Had to rebuild our military, which was totally depleted. Fed Rate UP, taxes and regulations WAY DOWN." -- President Trump

    Sounds like at least one democrat is admitting the economy is booming.
     
  2. bricklayer

    bricklayer Well-Known Member Past Donor

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    I retired in 2008. I bought back in during 2017. I never did want to participate in an obama economy, and I still don't.
    I'll ride the Trump train until it comes to an end, and then I'll retire again.
     
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  3. Natty Bumpo

    Natty Bumpo Well-Known Member

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    The economy has enjoyed unprecedented growth following the Bush recession. That's an empirical certitude.

    The current economic expansion, which began roughly a decade ago, became the longest in U.S. history on July 1, 2019.

    The soaring national debt is of concern that some try to ignore.

    [​IMG]
     
  4. bricklayer

    bricklayer Well-Known Member Past Donor

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    Don't believe your own lying eyes, or your portfolio; believe Natty Bumpo. The economic malaise that was the obama-economy didn't really happen, and this economic boom - just an illusion.
     
  5. rahl

    rahl Banned

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    had you been a smart investor, you'd have bought back in in 2010, when the economy started it's 10 year steady incline. Every economic metric has remained on the same trend line since 2010. NOTHING under trump has changed it.
     
  6. rahl

    rahl Banned

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    It's empirical reality. You can of course ignore that all you like, because it clashes with your ideology, but reality it remains. Every economic metric has remained on the same unchanging trend line since 2010.
     
  7. Heartburn

    Heartburn Well-Known Member

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    He may have some claim to that since he is in large part why we elected Trump.
     
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  8. Just A Man

    Just A Man Well-Known Member

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    Right. And now Trump will be responsible for us re-electing Trump.
     
  9. rahl

    rahl Banned

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    Is it that you guys think trump has a time machine in the oval office? Every economic metric has been on the same unchanging trend line since 2010.
     
  10. FAW

    FAW Well-Known Member Past Donor

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    For sake of argument, let's say that your words are 100% true.

    With that being the case, the end of that trend is FAR more impressive than the beginning. At the beginning, the economy was in the tank, and literally had nowhere to go but up. The stock market was way undervalued in relation to its fundamentals, and unemployment was sky high. When you have a crash, history tells us that a relatively rapid return to normal typically occurs. Nobody was honestly thinking that the economy was going to continue tanking into eternity. It was always known that a rebound was going to come. For that matter, the Obama team claimed that they were going to keep unemployment under 8% in January when they took office, which reveals the thinking at that time. Going from 10% unemployment to a decreasing trend was basically a given. Going from a Dow that was at 15k that dropped to 7k, back up to that 15k number was basically a given. On the other side of the coin, when Trump took office, the stock market was not tanked, and thus growth is far more difficult to achieve versus when it was WAY lower than its high. When Trump took office, the unemployment rate was under 4%, and thus did not have much farther that it could move, yet he has continued the job growth trend regardless. That is nothing short of miraculous. The economy is way overdue for a recession, and while another recession was not likely immediately following the crash of 2009, it has been likely however 8 years later which is when Trump took office, and that likelihood increases with each passing day, yet we still keep defying those long held economic expectations of a recession every 6 or 8 years

    The fact that Trump has continued those trends is an enormous accomplishment, and FAR more impressive than the beginning of that trend which occurred in the midst of a historic economic meltdown where there was literally nowhere to go but up.
     
    Last edited: Feb 18, 2020
  11. Natty Bumpo

    Natty Bumpo Well-Known Member

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    There is no denying that the nation's unprecedented economic expansion endured through seven years of the Obama administrations and three of Trump's.

    To what extent that is attributable to either POTUS is speculative. Presidents are always eager to take credit, of course.

    When Obama came to office in Jan 2009, the US economy was in a deep recession, with falling real GDP, high unemployment and rising levels of government borrowing. Trump inherited an economy that was on a good trajectory with solid job growth and low unemployment.
     
    Last edited: Feb 18, 2020
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  12. rahl

    rahl Banned

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    lol, so not ****ing up what trump was handed is somehow better than completely turning around the **** show Obama was handed?
     
  13. FAW

    FAW Well-Known Member Past Donor

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    What I stated is economic reality. It is FAR easier to add jobs when unemployment is 10% and going as opposed to when it is 3.5%. What about that do you not understand?

    It is far easier to avoid a recession 3 years past the previous recession, as opposed to ten years post recession. What about that do you not understand?

    I apologize if I am talking over your head.
     
    Last edited: Feb 18, 2020
  14. Jestsayin

    Jestsayin Well-Known Member Past Donor

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    Stop with the BS. Economic trends start with a positive economic outlook. Obama gave us none of that. From the day Trump was elected the lefties kept telling us that the 7 year upward trend was about to crash any minute. Trump ignored that in his speeches, eliminated hundreds of onerous regulations and we are still climbing.
    Will it end? Hell yes. How long will it continue? depends on the next election outcome. I can tell you that if Comrad Bernie Freeshit Sanders wins it will end before he is inaugurated as that asshat could destroy the entire economy without any help from congress.
     
    Last edited: Feb 18, 2020
  15. rahl

    rahl Banned

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    what you stated was silly.
    so again, not ****ing up what trump was handed is somehow better than completely turning around the **** show Obama was handed? lol
     
  16. rahl

    rahl Banned

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    It's just reality. I'm sorry if that conflicts with your ideology. Every economic metric has remained on the same unchanging trend line since 2010.
     
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  17. struth

    struth Well-Known Member

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    Obama gave us double digit UE and a failed "stimulus"

    https://www.chicagotribune.com/news/ct-xpm-2011-06-30-ct-oped-0630-chapman-20110630-story.html
    "
    It was, he said at the time, "the most sweeping economic recovery package in our history," and would "create or save 31/2 million jobs over the next two years."

    The president was right about the first claim. As a share of gross domestic output, it was the largest fiscal stimulus program ever tried in this country. But the second claim doesn't stand up so well. Today, total nonfarm employment is down by more than a million jobs."

    ...."
    The package had three main components: tax cuts, aid to state governments and spending on infrastructure projects. Tax cuts would induce consumers to buy stuff. State aid would prop up spending by keeping government workers employed. Infrastructure outlay would generate hiring to build roads, bridges and other public works.

    That was the alluring theory, which vaporized on contact with reality. The evidence amassed so far by economists indicates that the stimulus has come up empty in every possible way."
     
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  18. Nemesis

    Nemesis Well-Known Member

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    Do you suppose that he created that chart so that he could "lie" on this forum?

    Wow. That's mind-blowingly silly.

    See this post, and read the link.

     
  19. Nemesis

    Nemesis Well-Known Member

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    He was elected and inherited that **** economy. I don't know why you Bonespurs lovers keep repeating that fantasyland claim.

    Should presidents receive credit or blame for an economy? No, unless they do stupid **** like engaging in trade wars and blowing up the budget deficit with ill-advised tax cuts.
     
  20. bricklayer

    bricklayer Well-Known Member Past Donor

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    Why don't people believe you? How are you not winning over the masses with such counterintuitive information?
    What can you do to get people to think about what they experienced under obama differently?
     
  21. FAW

    FAW Well-Known Member Past Donor

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    Why dont you try responding to what I actually said?

    I did not say that what Obama was handed was better than what Trump was handed. I said that maintaining the same "unchanging trend line"(your assertion) is harder to do in a good economy versus one that is in recession. When in recession, there is literally nowhere to go but up.

    Again, I apologize if I am talking over your head. Sometimes I incorrectly assume that people have a minimal basis for economic discussions and that clearly is not always the case.
     
    Last edited: Feb 18, 2020
  22. rahl

    rahl Banned

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    uh, I did.

    to which I laughed my ass off.

    It's amusing watching you try and talk down to me, after having your nonsense completely refuted.
     
  23. struth

    struth Well-Known Member

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    Yes, I'll give it to you that Obama was elected, and unfortuately had two years of Dem control of the legislature he inherited, and had to deal with two more.....which made things much worse for him.
     
  24. bricklayer

    bricklayer Well-Known Member Past Donor

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    I'll ask you what I asked Natty. Why is it that you can't get people to believe you? How is it that you're not winning over the masses? How do you account for the tens of thousands of people leaving the democrat party every week? There is nothing on the left even remotely analogous Turning Point USA, or #blexit, or # walkaway. That doesn't even account for the millions of voters who now find themselves on the "new right" by default. They did not change their positions; it's just that those who now control the democrat party have defined the positions that they occupy to be on the right.

    So, let me ask you again. Why can't you get people to believe you? Is it their inferiority? Is that it? Are you just so much more intelligent than the masses that they can't understand you? Are they susceptible to propaganda that you're able to see right through? Or is it that they are blinded by racism, homophobia and xenophobia, whereas you've evolved past that? What is it? Why aren't you able to get anyone to believe you?
     
    Last edited: Feb 18, 2020
  25. FAW

    FAW Well-Known Member Past Donor

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    No, you have not responded to what I said even remotely. Lets make this easy for you by giving you one simple concept for you to respond.....

    If the unemployment rate is 8%....is it easier to add jobs on the same trend line versus when it is 3.5%? Why or why not?
     

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