Obama tries to take credit for current economy....

Discussion in 'Current Events' started by BuckyBadger, Feb 17, 2020.

  1. Dutch

    Dutch Well-Known Member Past Donor

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    Don't bullshit me, my friend. You can't afford to keep Trump in the White House for he 's Making America Great Again, while all Democrats do is **** America. So, Trump exposes Democrats and makes them look bad and impotent, which they are.

    Not rocket science.
     
    Last edited: Feb 19, 2020
  2. rahl

    rahl Banned

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    right, I always support my position with facts and data, via citation. You shrug your shoulders and say "nuh uh" in rebuttal. You remain refuted.
     
  3. rahl

    rahl Banned

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    this has been completely refuted. I will again remind you that every economic metric has remained on the same unchanging trend line since 2010. Nothing trump has done has had any effect. So no, he is not making America great again.
     
  4. Dutch

    Dutch Well-Known Member Past Donor

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    Oh boy... :hug:
     
  5. rahl

    rahl Banned

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    it's just reality dutch.
     
  6. ButterBalls

    ButterBalls Well-Known Member

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    Ya we did that yesterday, and I and quite a few other readers are still waiting on the question YOU HAVENT answered yet LMFAO :)
     
  7. rahl

    rahl Banned

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    I supported my position, with official BLS data. You said "nuh uh" and I then challenged you to provide data showing mine was wrong. You've yet to do that. You remain refuted.
     
  8. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    The GDP growth rate for Obama's last quarter in office was 1.1%. A tenth of a point above the next recession.
     
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  9. rahl

    rahl Banned

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    trumps best GDP growth rate has yet to beat Obama's.
     
  10. Bluesguy

    Bluesguy Well-Known Member Donor

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    Better deal and lifted until we see how complaint are the other parties. Either Trump or someone else badly needed to renegotiated those trades deals, Trump seems to have succeed they would only have cost us more down the road. I have several steel mills in the process of expanding now.
     
  11. Bluesguy

    Bluesguy Well-Known Member Donor

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    Ahhh the recession was 2/3's over and was starting to recede and the job loss rate bottomed out that month and was quickly receding before any stimulus. Are you just saying he and his advisers were ignorant of the economic situation? The stimulus was passed in February it took months for it to even start to be implemented and by the then the recession had ended. It never produced the results it was sold on. He did NOT turn the economy around or save us from a depression, he did manage to put us into the worst recovery in modern history.
     
  12. PeppermintTwist

    PeppermintTwist Well-Known Member Past Donor

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    And the liars will say that Obama was handed a thriving economy from Dubya.
     
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  13. MrTLegal

    MrTLegal Well-Known Member

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    How many quarters has Trump seen a GDP above 4%?

    Obama saw four.
     
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  14. Distraff

    Distraff Well-Known Member

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    I am saying that he and his economic advisers were ignorant as to how bad their recession really was and that report you mentioned was absolutely laughable. The unemployment rate was 7.8% when the report was published, so to say that the unemployment rate would be kept under 8% was ridiculous. At least they did mention there was a high margin of errors on their numbers and that some organizations projected a max unemployment above 10%. So it is untrue that Obama's efforts failed because of that report, because that report is no standard for any kind of progress.
     
  15. Trump Gurl

    Trump Gurl Banned

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    Obama is a born liar.

     
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  16. Bluesguy

    Bluesguy Well-Known Member Donor

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    EVERYONE knew how bad was the recession we had been living in it for a year, and we were by then on the back side of it. It ended in June. They said the stimulus would hold unemployment to 8% and then it would rapidly fall.

    upload_2020-2-19_16-52-36.png

    It was a total failure and the worst recovery in modern history. And we are still paying for it.
     
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  17. Distraff

    Distraff Well-Known Member

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    If you look at your chart, the study was conducted when the unemployment was 7.5%. But by January, when the study was published, it had already risen to 7.8%. And when the stimulus was passed, in February it was 8.3%. And it took months to years to get the money together, get all the products planned, and started, and only a tiny portion of the stimulus gets spent every month. By the next month, March it had reached 8.7%. There was just no way that study was every accurate in predicting a stimulus would keep unemployment below 8%. It also incorrectly measured from when the study was conducted, rather than from when the stimulus would be passed and spending would start, and didn't consider that only a little bit of stimulus would be spent every month.
     
    Last edited: Feb 19, 2020
  18. Bluesguy

    Bluesguy Well-Known Member Donor

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  19. Distraff

    Distraff Well-Known Member

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    You really want to be using yearly averages rather than individual quarter. The quarters tend to jump around a lot. Even better, average a few years together. Trump hasn't come close to maintaining consistent average 3% growth.
     
  20. Bluesguy

    Bluesguy Well-Known Member Donor

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    Yes I know it was 7.5% it had climbed there from the 4.5% the Republicans had handed them in 2007. Obama's supposedly very smart economic advisers knew it was 7.5%. And the job loss rate bottomed out that month. And look at Obama's own chart I posted. It was a total failure by his own measure and he later had to admit. It was the worst unemployment in modern times. Go back to 2000 and the Dot.com and stock market collapse, recession and then 911 hitting and see the difference policy can make.
     
  21. Bluesguy

    Bluesguy Well-Known Member Donor

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    I used the number you used and so far Trump has Obama beat. But you aren't using the correct number you are using constant dollar when it is normally reported in chained dollars and no Obama didn't have one over 4% in chained dollars.
     
  22. Distraff

    Distraff Well-Known Member

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    Obama did fail by that study's predictions, but that study was garbage. Why are you using a garbage study to measure the impact of a piece of legislation? Sure, the Obama administration failed in using this ridiculous study, but don't blame the stimulus bill, blame the study. The stimulus bill "failed" even before it came into effect because unemployment was already above 8% when it came into effect. Not even the amazing Donald Trump could have succeeded by that study's measures without a time machine.
     
    Last edited: Feb 19, 2020
  23. Distraff

    Distraff Well-Known Member

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    Economists normally use constant dollars. This is because our currency devalues every year and just because the economy was more valuable by using less valuable money doesn't mean real economic progress that benefits real people actually happened. Even better, lets also factor out population growth and get a better inflation measure that properly factors in the exploding cost of education, healthcare, and housing.
     
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  24. ButterBalls

    ButterBalls Well-Known Member

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    OK, here it is again..

    [​IMG]
     
  25. MrTLegal

    MrTLegal Well-Known Member

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    Last edited: Feb 19, 2020

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