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Wednesday, March 28, 2018

Trump's first year, 2.3% growth. Obama's first year, economy shrank 2.8%

Despite a record $700 billion bank bailout, a $50 billion bailout of GM and Chrysler, and a $787 billion stimulus, the American economy shrank 2.8% in Obama's first year in the Oval Office.

Trump cut regulations and president over a 2.3% expansion of the economy in his first year.

That was up from the pathetic 1.5% growth in Obama's final year.

"Gross domestic product expanded at a 2.9 percent annual rate in the final three months of 2017, instead of the previously reported 2.5 percent, the Commerce Department said in its third GDP estimate for the period on Wednesday. That was a slight moderation from the third quarter's brisk 3.2 percent pace," CNBC reported.

The cable channel also reported, "Economists polled by Reuters had expected that fourth-quarter GDP growth would be revised up to a 2.7 percent rate. The economy grew 2.3 percent in 2017, an acceleration from the 1.5 percent logged in 2016."

Of course the economy grew. Duh. We replaced a globalist socialist with a patriotic capitalist.

This growth is all off deregulation. The tax cuts and new trade deals hit this year. Watch the economy take off.

"Americans rating the economy good to excellent has surged to the highest point since former President George W. Bush took office, according to a new survey. Pew Research Center said that 53 percent rate the economy high and the best in some 18 years," the Washington Examiner reported.

But Democrats can offer voters pussyhats, right?

12 comments:

  1. You can't spell "Triumph" without Trump.

    Amazing. And we're headed towards 5% growth. Or more.

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    Replies
    1. How convenient it is to forget that in Obama's first year, the country was coming out of a deep recession.

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    2. Yes, and it started when the Democrats took over Congress. You know, the organization that actually spends money.

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    3. The recession officially ended the summer of Obama’s 1st year in office. We suffered on Obama’s recovery ever since.

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  2. There are three kinds of lies:
    Lies, Damned Lies, and Statistics. Economic indicators fall under the third kind of lies and have long been used to obfuscate, hedge, and fudge the numbers. I'll bet the numbers will gradually be adjusted upwards, but without fanfare. Economists have agenda, too. - Elric

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    Replies
    1. Someone else sees the books being cooked:

      https://theconservativetreehouse.com/2018/03/28/final-fourth-quarter-gdp-increase-2-9-exceeds-expectations-third-quarter-revised-upward-to-3-2/#more-147487

      MAGAnomics is going to rejuvenate the U.S. Bigly. - Elric

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  3. Much as I despised Obama it is disingenuous to compare his first year with Trump this year. In fact it sounds like the fake news we rail against here on a regular basis. Obama is fair game after Obama care which showed he didn't care how far into misery the country could fall as long as he got his name on something that would make him iconic and rich after he quit.
    Trump will hit 5% GDP sooner or later if he is allowed to rule as he should.. There are many who want anything but including the worst leader in world history. For him and them misery and failure are the only path to power and glory no matter the ruin it brings to others.

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    1. I think globalist, war-loving, Trump-hating W-Bush was at least as culpable as Obama for that disastrous first-year economic contraction back in '09. Perhaps a bit more so.

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  4. And the markets aren't figuring it out right now. Go long hard and make major kwon.

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  5. Obama apologists need to review Community Reinvestment Act.
    https://youtu.be/nJdQahDPdAg
    JimNorCal

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  6. Obama put a boot on the neck of the economy, and Trump had to do nothing basically other than remove the boot. And you know the democrats are just dying to get those growth-choking regulations back in place because they're either too stupid, or too ideologically bound, to know how harmful they are.

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  7. The GM and Chrysler bankruptcies were a once-in-a-generation missed-opportunity to release the US car industry from the death-grip of the UAW. Didn't happen.

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