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Thursday, February 28, 2019

3% growth for the first time since 2005

Someone tell Obama this is what a year of 3% economic growth looks like.



Despite spending more than a trillion dollars on stimuluses in 2009, 2011, and 2012, Obama never achieved 3% annual growth in any of his eight calendar years as president.

In his first year, the economy contracted by 2.5%. That was the worst economy in 63 years when the end of World War II suddenly ended military spending.

Bush 43 had two 3% growth years in his eight years as president.

Face it. The economy was in the horse latitudes for the first 16 years of this century, thanks largely to Washington interference and incompetence.

Clinton topped 3% growth in six of his eight years. In fact, he topped 4% five times as he realized it is the economy, stupid.

Bush 41 topped 3% in his first and his last years as president.

But Obama was a zero.

President Trump is off to a good start. He hit 2.2% growth in 2017. Preliminary numbers show 3.1% growth in 2018.

NBC reported, "U.S. economic growth was better than expected as 2018 came to a close, with GDP rising 2.6 percent, according to a first estimate the Commerce Department released Thursday.

"Economists surveyed by Dow Jones expected a gain of 2.2 percent after a 3.4 percent rise in the third quarter. The growth came amid a bevy of uncertainty and a time when the stock market briefly slid into bear market territory.

"While the GDP report was only preliminary, it would mean average growth for the year was 3.1 percent."

Not bad for a rookie.

CNBC and others report President Trump missed 3% but after reviewing the numbers, NBC is correct.

President Trump now needs to ramp that up to the 4% annual growth we usually had under Clinton.

19 comments:

  1. That is one tittilating schlong image there, Don.

    Excellent!!!

    ReplyDelete
  2. ""U.S. economic growth was better than expected ..."

    There are those words again. - GOC

    ReplyDelete
    Replies
    1. Except during the Obama years when it was 'U.S> economic growth was worse than expected...'

      Delete
  3. I predict that the 4th Q number will be revised upward.

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  4. Despite, the, snivel, snivel, gruberment shutdown

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  5. This with an actual an actual interest rate.

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  6. Obama said and the media seemed to agree that 5% unemployment and 2.0% GDP were the new normal. 3.1% without expanding the workforce with immigrants and with all kinds of disastrous trade deals and tariffs. Just imagine if Trump knew what he was doing, Right?

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  7. Without getting into how Clinton inherited the mid-term effects of Reaganomics on GDP, lets remember that the baby boomers who are now dropping out of the economy, were a driving force for massive tech boom money and spending. Trump has a contracting economy that was sluggish at best for 6 straight years. The Clinton-Trump comparison easily falls apart when you get into the weeds.

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  8. And he did it without a magic wand like dum bass said was needed.
    BTW. I am a robot

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  9. It was Liberal Democrat affordable housing policy that caused the great recession housing sector collapse, not Wall street or the banks.

    ReplyDelete
    Replies
    1. Ah, yes, "Sub-Prime" mortgages. Amazing how real estate agents can phony up applications to get that commission.

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  10. Phase II is reduction in our debt. The Donald will get the debt down and GDP will top 5% before he's done.

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  11. Trump did great BUT -- debt is too high.
    Corporate debt, gov't debt, consumer debt.

    Econ growth means the debt investments made under Trump are lots better than Solyndra style cronyism under Obama; but also mean the growth will slow as debt increases slow.

    Better debt than higher taxes; and gov't debt is not really a problem until Dems say it's time to reduce entitlements.

    ReplyDelete
    Replies
    1. "Dems say it's time to reduce entitlements." That's a line that we'll Never hear in our lifetimes.

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  12. It would be nice if the Fed actually work for growrh and not against it.

    No, not just nice, but friggin' needed!

    ReplyDelete