How good was the economy anyway?

jerzeegirl (FL zone 9B)(9b)

I have always felt that the economy was never as good as Trump bragged it was. Too many structural problems; too many people working hard with no savings. I think we are currently seeing the chickens of denial coming home to roost.


I believe that this pandemic will be a force for change in this country. I think that the income gap between the rich and the working poor has to narrow radically because we are all suddenly seeing how essential those "low wage workers" really are. We cannot exist without them.


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Stan Areted

The economy is what society is doing and it's needs at any given moment, a free economy such as ours.

Toilet paper and delivery people are more important than jewelry designers and film producers right now.

It won't always stay that way and things will shift again.

The economy was GREAT for anyone with half a brain and half a desire to work for a living.

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Kathy

Trump was busy removing the foundation of our economy while touting his great economy. The debt, the tax cuts temp boost, the removal of revenue, the volatile SM all pointed to a bubble.

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Toby

Consumerism was driving the economy under Trump. You only have to look at the Bureau of Labor employment statistics to see that. Manufacturing consistently lost jobs. Didn't Trump promise to bring those manufacturing jobs with good pay and good benefits back from overseas?

There'll be lots of money to be made in health services for anyone with "half a brain". Go get your nursing or MD degree because it's the only way you'll get a job now. Or you can deliver groceries or work for Amazon.
https://www.bls.gov/ces/publications/highlights/2020/current-employment-statistics-highlights-01-2020.pdf

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Stan Areted

Oh, anyone can make it.

Look at poor little old Oprah. She had no connections, she made it.

There are a lot of people just like her, millionaires, influencers, that grew up without any "connections" and nothing but half a brain and hard work and determination--some only two of the three have made it, only in this country, you know the place that is so terrible according to the democrats and liberals, where no one has a chance unless they have "connections" or are born rich, yet people literally are DYING to sneak in, or come into this country to chase their dreams which they cannot achieve in any other country.

And many, many do, and have for well over a century.

So, the little video posted, I've seen before no need to look again, it's designed to make LOSERS feel good about themselves by blaming someone else.

Designed by other losers, or people that want to control those people's votes by making them feel like everyone's against them and it's not their fault.

Typical liberal propaganda.


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heri_cles

You are wrong on many levels.

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heri_cles

Calling people "LOSERS" smacks of the kind of arrogance that Trump has and that he promotes.

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THOR, Son of ODIN(2)

The richest are doing great, and have tons of money to promote the lie that anyone who isn't rich is just a LOSER.




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vgkg (Va Z-7)

Easy for trump to say "losers" since he was born with a golden spoon in his mouth.

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heri_cles

You are not smarter or better than someone because you have more money, and that does not entitle you to call anyone a loser.

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catspa_zone9sunset14

The economy under Trump had the appearance of a flimsy house of cards, because it greatly hinged on jobs providing services that people could do without in a pinch, which is definitely where we are now. If he were smart (hah!), he would not have singlehandedly blown up talks leading to an infrastructure bill because he was having a snit about the Mueller report. Building infrastructure creates jobs that really mean and accomplish something, as opposed to simply catering to people's trivial whims.

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heri_cles

Pretty soon there might just be enough "losers" in this economy to change the corrupt systems that we have. Things are going to change.

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Stan Areted


Hericles:

You are not smarter or better than someone because you have more money, and that does not entitle you to call anyone a loser.


Of course not. Who said that?

Pay attention to words.

I did NOT refer to people as losers for the reasons you just outlined.

But I can call anyone a loser I like. We still have the First Amendent, contrary to what the democrat party would like.

People that complain that they can't make it in this country, with all of our opportunities, focusing on one thing they think is not fair or entirely equal (and nothing is entirely equal and cannot be) as far as starting points, THOSE are the losers.

Some people choose not to choose careers or lifestyles that produce wealth. That's fine--that's what this country is about.

Others do, and that's fine--again, what' this country is about.

The losers are people that are able, capable, or getting what they want out of life and don't do the work, make excuses, and blame others for their success as the reason they don't have what they want.

THAT is what makes them losers.

The people that encourage that--most of the leaders of the democrat party, negative people that thrive and profit from the negativity and resentment and jealousy they attempt to instill in people to garner their votes, are more than losers.

They are evil, in my opinion.

They destroy the human spirit for their own purposes.

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lurker111

The economy was and is great. The rebound will be phenomenal. Trump's America First agenda will bring many jobs back to America, especially in the medical industry. I hope everyone is following the stock market. There's a fortune to be made, especially in day trading.

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THOR, Son of ODIN(2)

Except for those 200.000 Americans who will no longer be in the economy.

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Toby

Most of those entrepreneurs are now seeing their businesses fail because of a pandemic. Their hard-working employees have been let go and tossed into a decimated job market. Are they "losers" now, Stan, because of their circumstances? If not now, how long can they go without employment before you consider them losers?

I congratulate you on your work ethic though. I've never seen you mention what that work was but I'll take your word for it that your hard work brought you great success.

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THOR, Son of ODIN(2)

Not to forget great humility.

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catspa_zone9sunset14

I hope everyone is following the stock market. There's a fortune to be made, especially in day trading.

Monopoly money created by playing games and shuffling paper around doesn't feed people, provide clean water, or move goods to where they are needed. No thanks. I would rather be contributing something useful than get rich doing that.

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jerzeegirl (FL zone 9B)(9b)

I see disdain and that bothers me greatly. What's keeping us afloat right now are those minimum wage workers who man the checkout lines at the grocery stores, the kennel workers who are taking care of the dogs of the doctors and nurses who are saving lives, etc. there are people keeping the country afloat while this virus continues to spread.

The minimum wage in this state is $8.46 /hr. In FL this is the minimum wage for everyone. However in other states there is a sub minimum wage for tipped workers and that can be really low.

How can people survive on these wages and yet these people are essential as we are now seeing.

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Stan Areted

TOBY:

Most of those entrepreneurs are now seeing their businesses fail because of a pandemic. Their hard-working employees have been let go and tossed into a decimated job market. Are they "losers" now, Stan, because of their circumstances? If not now, how long can they go without employment before you consider them losers?

I congratulate you on your work ethic though. I've never seen you mention what that work was but I'll take your word for it that your hard work brought you great success.


I refer you to concentrate and read the prior post about my definition of a loser, which certainly would NOT fall into the group which you posit.

So, your question to me totally ignored what I said.

It is obvious your questions were not valid.

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lurker111

I would rather be contributing something useful than get rich doing that.

Have at it. Complaining on HT isn't doing much good. Why not have a window open and make a couple of clicks while chatting on HT? It's very easy to make 5-10% per day right now. Good advice for those who want to help. Other people could use your profits.

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Kitchenwitch111

How are the Democratic policies of a living wage, affordable health care, quality education, a protected environment and maintaining Social Security and Medicare encouraging people to be losers?

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lurker111

Bad joke.

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Stan Areted

I agree, Lurker.

There is a dichotomy from the left--on the one hand, an apparent smugness about not wanting wealth, a self-perceived superiority that eschews wealth,and yet immediately wails of lamentation that there's not enough money to go around.

Which is it? If everyone were so "lofty" as to consider being responsible and making money as beneath them, who would pay the lion's share of taxes?

Who would give meaningful amounts of charity to the poor--those that truly need help through no fault of their own, who we will always have with us?

Many of us take care of others on our own--charity and individual-- unexpected charity to hard working people, especially in jobs that do not pay much, is something everyone should, and can do, according to their means. It is something that the left seldom seems to consider in their rush to accuse. It is of course, absolutely of no consequence that they do, it only makes their accusations even more uninformed and makes them sadly more myopic in their judgment.

Click away, lurker. We'll be doing the right thing.

It won't be criticizing making money on one hand and then complaining that there is not enough of it on the other hand.



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Toby

It wasn't the middle class or the working poor who received most of Trump's tax cuts. It was the wealthy.

Perhaps Trump, who is rumored to pay no taxes, should give charity to those who truly need it through no fault of their own. Anyone should be able to survive on charity. Oh, wait--he did have a charitable foundation, didn't he? What became of that?

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catspa_zone9sunset14

There's plenty of wealth around. Unfortunately, it's all floated to the top and is more or less stuck there, being distributed to pet projects and agendas, at best, not where real needs are.

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Stan Areted

More propaganda, people that don't even pay a DIME in taxes receive "refunds" in the form of earned income credits,

People that kept more of their previously taken tax money are people that can put money back into our economy, hire people, spend money.

There is no finite wealth to "spread around."

If someone wants more, go earn it.

If someone wants more for someone else, go earn it and give it to them.

People sitting on their duffs whining about other people making money are doing no good.

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Lisa

I hope all you stay at home people who are using delivery services for your food and stuff are tipping the delivery people

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Lisa

catspa: "There's plenty of wealth around. Unfortunately, it's all floated to the top and is more or less stuck there, being distributed to pet projects and agendas, at best, not where real needs are."

Absolutely. Why was $25 million given to the Kennedy Center as part of the covid 19 relief bill?

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Lisa

"We are all supposed to be "stay at home people". Many of us are essential people who you should be tipping.

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jerzeegirl (FL zone 9B)(9b)

Absolutely. Why was $25 million given to the Kennedy Center as part of the covid 19 relief bill?

People in arts organizations eat too. In fact, the arts are a big economic engine, especially in DC.

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catspa_zone9sunset14

Absolutely. Why was $25 million given to the Kennedy Center as part of the covid 19 relief bill?

Not to mention that it was one thousandth of one percent of the funds in the bill, not even peanuts of the $2 trillion involved. I guess focusing on trivia is one way to divert attention from the overall scope of the crisis.

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Ziemia(6a)

The arts often bring folks together.

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Lisa

I guess small wastes don't add up. “A billion here, a billion there, and pretty soon you're talking real money."

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Lisa

"The arts often bring folks together." We're not supposed to be together.

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Kitchenwitch111

Absolutely. Why was $25 million given to the Kennedy Center as part of the covid 19 relief bill?

I don't know about you but the ARTS are all most of us have right now. Music, movies, virtual museum tours, books, etc. are keeping people sane through this madness. As essential as groceries right now IMO.

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carolb_w_fl_coastal_9b(zone 9/10)

I was just reading an article this morning about child daycares and how most are basically small privately owned businesses that have now closed and many, if not most will likely never re-open. Parents who have to work for a living rely on these small businesses - if they can access them. How will our economy resume without them?

This is just to point out that there are so many interconnected facets to our national economy that many people seem to be unaware of & sadly, many of the unaware folks happen to be lawmakers.

As for arts - how many here are now making more use of music and other home entertainment to help pass isolation time?

Author Stephen King tweeted this the other day:


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Cindy Outter

"The economy was and is great. The rebound will be phenomenal. Trump's America First agenda will bring many jobs back to America, especially in the medical industry. I hope everyone is following the stock market. There's a fortune to be made, especially in day trading."

Oh, yes we have been following the stock market since 1980, we have never had so much worry toward the economy.

It has been more than 3 years since Trump moved into the White House:

Where are those jobs he brought back to the USA?

Where is the affordable health care he promised?

Where is the money from Mexico to pay for his silly wall?

You are a little late, it has been at least 25 years when people started focusing on medical industry, competition in this industry has been fiercely to say the least. Don't forget when demand increases, same does supplies. You may want to check if Americans have required educational background and skills set to handle those "new" jobs. Giving Trump and GOP's attitude toward education, I suspect more jobs in this field will be moved offshore, exact as during IT, high tech boom.

The skill of making fortune from stock market as you mentioned is arbitrage, unfortunately, we do not value it, at beat, it is like a blackjack dealer in casino.

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vgkg (Va Z-7)

"The economy was and is great."

The "was" part yeah, Obama's economy isn't looking so bad now huh.

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paprikash

I’ll take Trump over Obama anytime

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lurker111

Obama's economy....hahahaha!

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carolb_w_fl_coastal_9b(zone 9/10)

Our economy has been propped up by consumers and the service sector for some time. Both elements are now a thing of the past.

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Nana H

Perhaps the Trump supporters could point to one hard economic metric that was consistently better under Trump than Obama . Jobs created, GDP, percent growth in the stock market, growth in manufacturing etc. There may have been some growth in wages but it wasn't significant.

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paprikash

Obama was insignificant.

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Lisa

"Our economy has been propped up by consumers and the service sector for some time now. Both elements are now a thing of the past."

Your statement is clearly pejorative. Economists call this a consumer-driven economy. Because of a force majeure event, the will be major economic shifts across all global economies.

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Blanche Dubois

The economy was paper thin. Full employment because 1/3 of the people are working 2 or more jobs, no bene's.

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carolb_w_fl_coastal_9b(zone 9/10)

Seriously! The number of people with no health insurance is said to be around 27 million, and that's not even counting those who just lost theirs due to unemployment.

This will protect public health how exactly?

Worst outbreaks appear to be clustered in poorer/low income areas, and I presume many there are people working 'essential' jobs. How fortunate are those with gobs of money who can stay in their bubbles, not having to mingle with the lowlifes delivering their packages and groceries...

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chisue

What a great nation! Those 'bootstraps' individuals are reduced to trying to earn a living in "A GIG Economy." Real stability. Some future.

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Lisa

Identity politics ad vilifying people you don't know does not help anyone.

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Joaniepoanie

Our 401k was looking very good in 2016.....before Trump. Obama got it there from the 2008 crash. Why can’t Trumpers admit that? Look at your statements from 2008-2016.....Obama did that....not Trump!

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olliesmom

Blanche, I'd like to know more about all these people working 2 or more jobs.

Where and what demographic?

People are free to work 2 jobs if they want. My dad worked two jobs for about 2-3 years in my childhood, because my mom stayed home with us kids and his extra income bought our first 5 acres to build our new home. People make sacrifices for their family, it's what hard-working Americans do, if they have too.


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carolb_w_fl_coastal_9b(zone 9/10)

Ah yes - the freedom to work yourself to death to be able to live...

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olliesmom

carol, ah yes-the freedom to work more to make more, nothing wrong with that.


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be happy

The military has great opportunities for employment and job training. They have many different programs where they will even PAY for your college. Oh and you get medical and housing as well.

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Stan Areted

Ah yes - the freedom to work yourself to death to be able to live.


The alternative being others work themselves to death for someone else to live?

Typical liberal think.

Gimme Gimme Gimme.

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maifleur03

olliesmom many nurses and CNA's work two jobs. Wait staff often have multiple jobs and not just as waiters. Most of the CNA's at my husband's nursing home were working at several nursing homes and/or hospitals. Places would only schedule them for 30 hours a week if that much so they needed a second job to cover their expenses.

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elvis

jerzeegirl (FL zone 9B)(9b)

I see disdain and that bothers me greatly.

A lot of us see disdain daily, not necessarily in the same ways or same people you may have in mind. Freedom of expression, another great thing about the USA.

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elvis

How can people survive on these wages and yet these people are essential as we are now seeing.

It's a shame it took this cv outbreak for you to see that, better late than never.

And you apparently learned something about yourself, so that's good.

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Cindy Outter

"The alternative being others work themselves to death for someone else to live?

Typical liberal think."

I thought the discussion is about hard working people could not keep up with cost of living, so they work multiple jobs by necessity.

Why do you accuse those people asking someone else to work and support them?

I am puzzled by the comment of "Typical liberal think", may be this is something in the past and you just could not shake off that impression in 2020.

Read the following article, it is clear that in recent history, Red States are depending on Blue State. in other words, Conservatives have been "taking taking taking" from liberals, instead of "giving giving giving".

AP FACT CHECK: Blue high-tax states fund red low-tax states

"Most Federally Dependent States

1. New Mexico

2. Mississippi

3. West Virginia

4. Montana

5. Kentucky

6. Alaska

7. Arizona

8. Indiana

9. Alabama

10 South Carolina"

2020’s Most & Least Federally Dependent States


"Donald Trump and Republicans in Congress love to demonize government handouts. But their own red-state supporters depend on these handouts. And the handouts are increasingly financed by the inhabitants of blue states."

How blue states help red states


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lurker111

My pot stocks are up over 17% from Thursday. :^)

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Cindy Outter

"People are free to work 2 jobs if they want. My dad worked two jobs for about 2-3 years in my childhood, because my mom stayed home with us kids and his extra income bought our first 5 acres to build our new home. People make sacrifices for their family, it's what hard-working Americans do, if they have too."

That was a good life, let's see how young people could work like your dad and afford his dream house with a stay at home wife and kids.

I am familiar with engineers salary, I just looked, for an entry level engineer, the salary is about $70K/Yr, mid level is about $100k/yr.

Our State has an average cost of living index, in an average cost of living index city, the medium house price is $318K. More expensive city the medium house price is $469.4k. For a house on 5 acre lot, it would be around $1.5 to $4 million depending on the location.

Do you really believe a middle level engineer (assume your dad's income at the time was on par to it) could afford the $1.5-4 million house only by his salary, and with the earrings from a second job in 2-3 years?

Two years ago, my child sold a tiny condo in SF for $1.25 million. At the time, the child had 18 years working experience and high demand skills in a high paying field. I doubt a young average income worker could afford the place with a single income, even if he/she work 5 jobs "if they want".

Of course young people could move to low cost living areas, the problem is "Are there jobs in those areas"?

So are you still surprised by those people who needs to work multiple jobs just to make ends meet?

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lurker111

For a 5 acre house, it would be around $1.5 to 4 million depending on the location.

That's pretty cheap for a 5 acre house. I've never seen one that large!

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chisue

Seeing the list of the poor red states makes me wonder if the Trumpsters posting here don't LIVE in them. Are some of them looking at the poor who can't make a living wage in their impoverished states, then extrapolating that onto the whole nation as 'a bunch of liberals and freeloaders'?

The refrain of "Dixie" comes to mind -- the 'Look away' part.

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Cindy Outter

"That's pretty cheap for a 5 acre house. I've never seen one that large!"

I should write "for a house on 5 acre lot'", or "a 5 acre lot - house". I have changed it.

I will remember for Trumpsupporters, we have to be very specific with editing instead of substance and content.

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elvis

I thought the discussion is about hard working people could not keep up with cost of living, so they work multiple jobs by necessity.

Why do you accuse those people asking someone else to work and support them?

No one did that.

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shead

I live in one of those states.


Everyone has a different idea of “living.” For some, a house and 5 acres in the suburbs of a prosperous city is “living.” For others, a single wide trailer on 5 acres in the country is “living.” I know many who are quite content with their life that way and many of these get government assistance to do so. They don’t desire more so they don’t work for more. They sit on their porches all day and watch the cars drive by. I’m serious.

I think “to each his own” but I sure wish their lifestyle wasn’t on the government dime.

As far as extrapolating, there is far more extrapolation occurring in those assuming everyone living at or below the poverty level in those red states actually want anything “better.” Unless you live here, you don’t understand the mentality.

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carolb_w_fl_coastal_9b(zone 9/10)

Seems there is a certain amount of either willful or genuine ignorance on display here.

My parents bought their waterfront home here in the 1960s for around $20K. Homes in that neighborhood are now valued from $ 0.5-2.5 million. What used to be an average to upper middle class neighborhood is now a richy-rich community. Same thing for my aunt in WI, who had her home built on 2 acres for around the same $20K and now her neighborhood is quite exclusive, with multi-million dollar mansions.

The fish doesn't acknowledge or recognize the water it swims in?

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chisue

Who would *aspire* to be a 'welfare queen'? (Wasn't that a Regan construct?) I can see having to settle for it where there's no actual opportunity to better yourself.

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elvis

chisue

Who would *aspire* to be a 'welfare queen'? (Wasn't that a Regan[sic] construct?)

Dunno, you could look the Reagan thing up. I've never seen anyone on HT use the phrase except liberals.

Here's one:

jodik_gw

I just can't think of a better name to attach to hannity... "Welfare Queen"... it suits hm fine.

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olliesmom

Not everyone in the U.S has the drive or character to want to better themselves.

There are also those, who live beyond their means and may have to work two jobs. There are various reasons people work 2 jobs.

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jerzeegirl (FL zone 9B)(9b)

This from Jamie Dimon:

JPMorgan Chase CEO Jamie Dimon said he expects a "bad recession," in his annual shareholder letter, adding that in the most adverse scenario, gross domestic product could plunge at a 35% annual rate in the second quarter and that a downturn would last through the rest of the year.

The unemployment rate would spike as high as 14% in this environment, Dimon added in his letter.

Some think that 14% unemployment is optimistic though.

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elvis

On that happy note^^^

Would-be retirees: Paper or plastic?

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Cindy Outter

"Welfare queen" is a derogatory term used in the United States to refer to women who allegedly misuse or collect excessive welfare payments through fraud, child endangerment, or manipulation. Reporting on welfare fraud began during the early 1960s, appearing in general-interest magazines such as Readers Digest. The term originates from media reporting in 1974, and was popularized by Ronald Reagan, beginning with his 1976 presidential campaign.

Since then, the phrase "welfare queen" has remained a stigmatizing label and is most often directed toward black, single mothers.[1][2] Although women in the U.S. could no longer stay on welfare indefinitely after the federal government launched the Temporary Assistance for Needy Families (TANF) program in 1996,[3] the term remains a trope in the American dialogue on poverty.[2][4]

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Kathy

There have been estimates of unemployment as high as 35%.

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jerzeegirl (FL zone 9B)(9b)

I have seen that estimate also. The record unemployment rate in this country was 25% during the depression so it would certainly surpass that.

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carolb_w_fl_coastal_9b(zone 9/10)

FWIW, there is some fascinating backstory to the 'welfare queen' trope that Reagan promoted when he was campaigning. It was based on a woman named Linda Taylor, who was actually kind of an arch-criminal...

https://slate.com/news-and-politics/2019/05/the-queen-linda-taylor-welfare-reagan-podcast.html

People predisposed to being stingy are also predisposed to focus on the very, very few 'undeserving', rather than the many in true need of help.

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jerzeegirl (FL zone 9B)(9b)

Trump will bankrupt this country, just like he bankrupts his own business.

He's got a running start.

Let him try cutting soc. sec. He will be run out of town on a rail.

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Kitchenwitch111

Trump’s supporters will never leave him and would follow him off a cliff.

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ingrid_vc so. CA zone 9

I can't point to a single thing Trump has done to help the economy, but by increasing the national dept so significantly he has put us into a very bad position vis a vis other countries. We are heading toward an economic crisis of unimaginable proportions following this pandemic, with a president who has zero capability of fixing or implementing anything. We are in for terrifically hard times in this country. It will be unlike anything that we've ever faced before.

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mjkjrobinson

It really is a scary time and keeping everyone healthy, , and feed! I am having quite a time with my 82yr, old mom, she keeps wanting to go shopping! She Is Not Allowed Out, she has very bad asthma and if my mom got this she would die! Not to mention my husband who is a heart victim and a diabetes guy, and sometimes gets called out! So scary! But our Prime Minister, has really stepped up to help everyone, which I think is amazing, they don"t always! So do try and stay as healthy as you can! I"m praying that this won"t kill to many more! One thing more I love your Roses and that"s What I look forward too! We might finally get maybe some warmer weather! Hang in there everyone stay save!

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lurker111

Trump will bankrupt this country, just like he bankrupts his own business.

Obama already did it. What is the interest on Obama's debt? I challenge everyone to answer that question.

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lurker111

Anyway, I sold off most of my stocks yesterday. I kept the ones that I've been holding for the long term. They will only improve over time. They are down, but still way over what I paid for them. I think this week will be a good time to buy. Just going off of the patterns I've been observing. We'll see.

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jerzeegirl (FL zone 9B)(9b)

Trump’s supporters will never leave him and would follow him off a cliff.

I hope that group is getting smaller each day.

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palisades_

I’m late to the party, but this does reflect current state of the matter,

“When I was young we watched Bob Hope, listened to Johnny Cash and admired Steve Jobs. Now we have less hope, less cash and less jobs.
We need to make sure we take care of Kevin Bacon 🤣”

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Kathy

The debt Obama inherited was the huge interest of the Iraq war debt. Trump has piled on his own debt. Seems Dems are destined to pay off the spending sprees of the RW party.


Republicans use a sound bite that the federal debt doubled under Obama. In looking at the numbers that is close to being numerically correct but falls short of being 100%. However when you take into account the Great Recession, making W. Bush’s temporary tax cuts permanent, increased Social Security and Medicare spending as more Baby Boomers retire and become 65 years old and the Afghanistan and Iraq wars he inherited the story is quite different.


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huachuma

"People predisposed to being stingy are also predisposed to focus on the very, very few 'undeserving', rather than the many in true need of help."

The throwing the baby out with the bath-water syndrome...

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mrsstem(9a)

The economy has been good. Sorry jerzeegurldavidbrock

and it will be soon.

I’m buying stocks lurker.

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elvis

lurker111

Trump will bankrupt this country, just like he bankrupts his own business.

Obama already did it. What is the interest on Obama's debt? I challenge everyone to answer that question.

Working on that, in the meantime: The national debt grew by 15% through February 11 of Clinton's first term and ended up growing by 36% by the end of the 2000 fiscal year, the final full fiscal year of his presidency.The debt grew by 12% during Bush's first 752 days and grew by 75% when the 2008 fiscal year came to a close.Under Obama's first two years and change, the national debt grew by 33%, and it grew by 84% by the end of the 2016 fiscal year.The debt grew 10% in Trump's first 752 days and is projected to grow by 44% by the end of the 2024 fiscal year.

https://www.businessinsider.com/trump-national-debt-deficit-compared-to-obama-bush-clinton-2019-2

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Kathy

Elvis, you need to delve a little further into what caused the debt Obama inherited Because of the unpaid Iraq war and the recession. Trump will far surpass that and more. You will say it was the virus but actually trump has caused much of his debt himself with his trade deals and his mismanagement of this virus.

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elvis

President Obama inherited a US Debt amount of $10.6 trillion on his inauguration and increased it by almost $1.9 trillion by March 1, 2010. Obama increased the US Debt amount by $954 billion more than President Trump in the same respective time in office. In addition, President Trump has been able to limit the amount of new debt in spite of the massive increase in debt from Obama ($10 trillion) and the rising interest rates initiated by the Fed.

Right after Barack Obama was elected President, on December 16, 2008, the Federal Reserve (The Fed) lowered the Fed Funds rate by an entire percent, from 1% down to 0% . The Fed had not lowered the Fed Funds rate by such a large amount (1% ) since at least before 1990, if ever. The Fed kept this 0% rate for most of Obama’s eight years in office.

CNBC reported in December 2015 that President Obama oversaw “seven years of the most accommodative monetary policy in U.S. history” (from the Fed). The Fed Funds rate was at zero for most of Obama’s time in office. Finally, in December 2015 the Fed announced its first increase in the Fed Funds rate during the Obama Presidency.

The only Fed Funds Rate increases since 2015 were after President Trump was elected President. The Fed increased the Fed Funds Rate on December 14, 2016, March 15th, 2017, June 14, 2017 and again on December 13, 2017. Four times the Fed has increased rates on President Trump after doing so only once on President Obama late in his 2nd term.

The MSM won’t tell you but President Trump has increased the US debt by half of that of Obama in their first few months in office. As a result America is moving in the right direction for the first time in at least a decade.

https://www.thegatewaypundit.com/2018/03/president-trumps-debt-increase-half-obamas-debt-increase-time-respective-presidencies/

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Ziemia(6a)

Oh, such a balanced source - gateway pundit.

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Kathy

That article was 2 years ago. Rofl.

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