The Trump Economy

[GG]

Trump gonna be Trump.

 

Impose new tarriff on imported cars on national security grounds, but help out ZTE

[Tiberius]

A threat from Trump? Lol, no one takes Trump's bluster and threats seriously. He will back down as usual. Red lines, ha ha ha 

[B-Man]

In real terms, household income has never been higher.

Adjusted for inflation, household income has never been higher.

After eight long years, the Great Recession is over.

"Median household income has been steadily increasing under Trump, rising from $59,471 in January 2017 to $61,483 last month, according to Sentier Research, which tracks income on a monthly basis using census data," Investor's Business Daily reported.

On top of that, the across-the-board tax cut meams Americans are keeping more of their bigger paychecks.

"This is a sharp turnaround from the Obama years. Sentier data show that median household income was the same when President Obama left office as when he arrived. Under Obama, household incomes continued to fall steeply for two full years after the recession officially ended, and then took four years to make up that lost ground. Incomes then flatlined again, posting no overall gain between August 2015 and December 2016," Investor's Business Daily reported.

 

.
 

[B-Man]

Trump guts union perks, speeds up civil service firings to save $100 million a year https://washex.am/2IKWBEt 

 

 

Headline should have read "public sector employee union perks";

 

There is a world of difference between private sector unions and public sector unions.

 

 

.

[DC Tom]

2 hours ago, B-Man said:

Trump guts union perks, speeds up civil service firings to save $100 million a year https://washex.am/2IKWBEt 

 

 

Headline should have read "public sector employee union perks";

 

There is a world of difference between private sector unions and public sector unions.

 

 

.

 

Yeah...those EOs are going to be challenged in court, and he's going to lose at least two of them.  

[Tiberius]

Well, as of this hour, the trade war with China is back on

 

https://www.washingtonpost.com/business/economy/trump-announces-tariffs-on-china-tech-crackdown-ahead-of-key-trade-meeting/2018/05/29/9b4df54a-633e-11e8-99d2-0d678ec08c2f_story.html?utm_term=.6751e5ae365b

 

And Democrats chances of taking the house are back up! 

[B-Man]

Economic data from April show the tax cuts are working New York Post, by Stephen Moore

Original Article

“April is the cruelest month,” T.S. Eliot famously wrote. But when it comes to America’s fiscal picture, nothing could be further from the truth about our most recent April. The latest government numbers confirm that last month was a blockbuster for growth, federal revenues and deficit reduction — putting the lie to much of the knee-jerk criticism of President Trump and the GOP Congress’s tax-cut bill. One of the key principles of Trumponomics is that faster economic growth can help solve a multitude of other social and economic problems — from poverty, to inner-city decline, to lowering the national debt.

[Cinga]

On 5/25/2018 at 10:52 PM, DC Tom said:

 

Yeah...those EOs are going to be challenged in court, and he's going to lose at least two of them.  

that's ok, he can just ignore the court ruing like Obama did

[3rdnlng]

10 minutes ago, B-Man said:

Economic data from April show the tax cuts are working New York Post, by Stephen Moore

Original Article

“April is the cruelest month,” T.S. Eliot famously wrote. But when it comes to America’s fiscal picture, nothing could be further from the truth about our most recent April. The latest government numbers confirm that last month was a blockbuster for growth, federal revenues and deficit reduction — putting the lie to much of the knee-jerk criticism of President Trump and the GOP Congress’s tax-cut bill. One of the key principles of Trumponomics is that faster economic growth can help solve a multitude of other social and economic problems — from poverty, to inner-city decline, to lowering the national debt.

From your link:

 

No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — which is why all that the Democrats and the media want to talk about these days is Russia and Stormy Daniels.

[DC Tom]

9 minutes ago, 3rdnlng said:

From your link:

 

No one thought that Trump could ramp up the growth rate to 3 percent or that his policies would boost federal revenues. But he is doing just that — which is why all that the Democrats and the media want to talk about these days is Russia and Stormy Daniels.

 

"Hold me closer, Stormy Daniels..." [/Elton]

[row_33]

16 minutes ago, DC Tom said:

 

"Hold me closer, Stormy Daniels..." [/Elton]

 

he should rerere-release Candle in the Wind for Stormy

 

[3rdnlng]

11 minutes ago, row_33 said:

 

he should rerere-release Candle in the Wind for Stormy

 

I think "The B word is Back" is more appropriate.

[Tiberius]

1 hour ago, B-Man said:

Economic data from April show the tax cuts are working New York Post, by Stephen Moore

Original Article

“April is the cruelest month,” T.S. Eliot famously wrote. But when it comes to America’s fiscal picture, nothing could be further from the truth about our most recent April. The latest government numbers confirm that last month was a blockbuster for growth, federal revenues and deficit reduction — putting the lie to much of the knee-jerk criticism of President Trump and the GOP Congress’s tax-cut bill. One of the key principles of Trumponomics is that faster economic growth can help solve a multitude of other social and economic problems — from poverty, to inner-city decline, to lowering the national debt.

This is a Trump economic advisor, surprise, surprise it reaches a unicorn farting rainbows conclusion. 

 

Quote

 

Growth is also expected to get a boost from increased government spending. April data including retail sales, trade and industrial production suggest the economy regained speed early in the second quarter. Growth estimates for the second quarter are above a 3 percent rate.

Economists had expected first-quarter GDP growth would be unrevised at a 2.3 percent pace.

“Growth is set to rev up soon given the deficit-financed tax cuts and a big increase in federal government spending,” said Scott Hoyt, a senior economist at Moody’s Analytics in West Chester, Pennsylvania.

 

Woo hoo! We will borrow and spend our way to prosperity! Drain the swamp?? 

 

https://www.reuters.com/article/us-usa-economy/us-first-quarter-growth-trimmed-on-weak-consumer-spending-idUSKCN1IV1L5

[TPS]

1 hour ago, Tiberius said:

This is a Trump economic advisor, surprise, surprise it reaches a unicorn farting rainbows conclusion. 

 

Woo hoo! We will borrow and spend our way to prosperity! Drain the swamp?? 

 

https://www.reuters.com/article/us-usa-economy/us-first-quarter-growth-trimmed-on-weak-consumer-spending-idUSKCN1IV1L5

Actually, this is the money quote from the ideologue Moore:

Quote

Critics will dismiss the importance of these higher-revenue collections by arguing that the new receipts are for 2017 tax payments, which don’t take account of the tax cut that passed in December. This ignores that some of the growth spurt we have seen was a result of the anticipation of the tax cut. Moreover, the fact that the tax cuts are just sinking in means we should get even higher growth rates for the next several years at least.

This year's April revenue is based on the old tax rates. Then there's the leap to my favorite type of argument: growth increased based on "anticipation"...cue Carly Simon....

 

We're seeing exactly what I predicted: tax cuts and increased spending are raising economic growth. The second quarter GDP growth estimate will give us a much better idea of their impacts. 

[TH3]

2.2%

 

[GG]

1 hour ago, baskin said:

2.2%

 

 

You mean too much of a good thing.

 

Trump better solve the immigration puzzle.

[TH3]

12 minutes ago, GG said:

 

You mean too much of a good thing.

 

Trump better solve the immigration puzzle.

 

No - I just mean work with the facts. GDP growth for the first quarter was 2.2 percent. GDP not going to see a real sustained boost (no a sugar high from fake tax cuts and juiced spending) until wages grow in a real and sustained way. But this is tough as technology is always chipping away.

 

I believe you are correct when you call immigration a puzzle - not sure where you are trying to go with it though. New Illegal immigration these days is a nominal issue - but it makes good press. The 10 million illegal residents are here and they are not going anywhere - in fact the economy needs them - the GOP knows this - but it is a perfect issue for them - they will do nothing about it - complain and campaign about it and let business reap the benefits. Win win win.

 

There are many job openings - and any business will hire someone who is revenue positive immediately - but that is the hitch - not enough skilled workers to fill the positions that companies would fill if they could. Probably a good idea to invest in the education of young Americans.

 

 

[row_33]

2.2%

 

that's cute and sweet of you to believe that and then apply it to reality... 

 

 

[IDBillzFan]

2 hours ago, baskin said:

Probably a good idea to invest in the education of young Americans.

 

What age range of young Americans are you referring to? What type of investments should be made, and by whom?

Edited May 31, 2018 by LABillzFan

[3rdnlng]

4 minutes ago, LABillzFan said:

 

What age range of young Americans are you referring to? What type of investments should be made, and by whom?

Pre woman's studies in HS to prepare for a four year degree in college. Seriously, we need to start up a bunch of Mike Rowe universities.