Nothing is linear.
But to go with your thinking, perhaps you should look at the actual numbers.
Obama averaged $1.16 trillion per year in debt increases.
Trump is currently averaging $991 billion per year.
What is more concerning is debt to GDP.
Debt to GDP ratio went from 77.3% to 103.6% under Obama.
Under Trump it has increased from 103.6% to 104.1%.
Another thing to remember, of that $22 trillion in debt, $16 trillion of it is owed to ourselves.
The feds continue to borrow against Social Security and MediCare trust funds.
Had they been left alone, we would not be facing the reality that Social Security will be gone by the time any of us qualify for it, even though we paid our whole lives into it.
Hell our retires would have been able to receive actual cost of living increases that are realistic, and not the chump change they get now.
Your knowledge of the factors that led to the 2008 economic collapse seems non-existent.And who do we have to thank for the economic collapse of '08? Ah that's right, Democrats in congress during the early 00's pushing the banking industry to make irresponsible subprime and ARM loans to people who had no business owning houses they couldn't afford. I'm glad Obama did turn the economy around, because it was of the Democrats making.
Your deficit figures are wrong, because you’ve attributed Obama’s last budget (FY17) to Trump. FY17 is 1 Oct 2016 through 30 Sep 2017. That was passed before Trump took office. That $670 billion deficit is Obama’s.Nothing is linear.
But to go with your thinking, perhaps you should look at the actual numbers.
Obama averaged $1.16 trillion per year in debt increases.
Trump is currently averaging $991 billion per year.
What is more concerning is debt to GDP.
Debt to GDP ratio went from 77.3% to 103.6% under Obama.
Under Trump it has increased from 103.6% to 104.1%.
Another thing to remember, of that $22 trillion in debt, $16 trillion of it is owed to ourselves.
The feds continue to borrow against Social Security and MediCare trust funds.
Had they been left alone, we would not be facing the reality that Social Security will be gone by the time any of us qualify for it, even though we paid our whole lives into it.
Hell our retires would have been able to receive actual cost of living increases that are realistic, and not the chump change they get now.
GDP growth about doubled and employment increased including in the left for dead manufacturing sector.Obama’s last 3 budgets averaged $800 billion a year, which Trump promptly exploded to $1.2 trillion, not the least of which was due to giving un-needed and ineffectual tax cuts to the wealthiest taxpayers.
The bump in GDP growth looks to be short-lived; from 2.2 to 4.2, then 3.4 in Q3, with last quarter expected to come in at 2.6. It's Keynesian stimulus 101. Increase disposable cash and people will spend (not save). Short spike in business investment then back to previous levels.GDP growth about doubled and employment increased including in the left for dead manufacturing sector.
The short term deficits from tax cuts may indeed be swamped by increased tax revenues from increased employment and GDP. We will see in a couple years.
The Democrats are using RESIST to try as hard as they can to keep the next phase of growth oriented policies from being implemented. Obviously a good economy nobody can deny, would assist with a Presidential reelection.
I’m not a “liberal”, and those aren’t talking points. They are facts.
Making assumptions about people who don’t immediately agree with you is a surefire way to never learn, grow, or solve a problem. You might consider a new tact.
(And again with the green smiley faces emojis. Oy.)
I mean, it's all a dog and pony show. Does anyone really think some board of extremely wealthy CEO's is going to do anything to improve conditions for American workers?
A list of names on an article and a fancy luncheon that probably cost more than some kid's college tuition. That's all these advisory committees ever seem to amount to.
GDP growth looks to be short-lived; from 2.2 to 4.2, then 3.4 in Q3, with last quarter expected to come in at 2.6. It's Keynesian stimulus 101. Increase disposable cash and people will spend (not save). Short spike in business investment then back to previous levels.
This stimulus would have been a lot more valuable in 2012/13 when unemployment was 7-8% and still a real concern but the Republicans would have none of that. In 2018 with a sizzling economy and 4% unemployment, it just causes inflation fears and Fed tightening, though the self-inflicted shutdown debacle seems to have convinced the Fed the economy is in no danger of overheating. Trade wars are foolish and tariffs mostly counterproductive. Global slowdown is good for no one.
GDP growth about doubled and employment increased including in the left for dead manufacturing sector.
The short term deficits from tax cuts may indeed be swamped by increased tax revenues from increased employment and GDP. We will see in a couple years.
The Democrats are using RESIST to try as hard as they can to keep the next phase of growth oriented policies from being implemented. Obviously a good economy nobody can deny, would assist with a Presidential reelection.
I can look at my very diversified portfolio and see it stagnating, only going back up somewhat recently after the shutdown. I’m not far left. Not even close. Since you’re all about alternative facts, here is an actual fact for you: I’m a moderate who has voted for three republican presidents and one democrat president. But everything must be dramatized and made extreme because that better fits your narrative, right?DOW when Trump took office. 19827
DOW today 25500
I’m not saying Trump is the reason why it’s up 6k. But the DOW was also right around 25500 last year at this time. It’s onky down 1400 from it’s all time high. I’m just sighting facts. Your post is purely emotional based on your hate from Trump just like most of the far left.
Your knowledge of the factors that led to the 2008 economic collapse seems non-existent.
Please don’t embarrass yourself by linking an article from a Hertage Foundation Thomas A. Roe IEPS partisan hack.Please don't embarrass yourself by trying to come up with smug comebacks; it rarely works.
It has long been known that over extension of subprime/ARM mortgages was the major factor of the 2008 financial crisis, through policies pushed by Congress in the 2000s. A two second Google search will give you these results, but I'll make it easy and give you a reputable link so you can read up on it:
https://www.forbes.com/sites/norber...is-and-made-the-recession-worse/#dfdba58564eb
If you're going to blame one party you might as well blame them both.
Please don’t embarrass yourself by linking an article from a Hertage Foundation Thomas A. Roe IEPS partisan hack.
Sure government policy was a factor, and if you want to put the blame on a 2000s Congress, fine. But need I remind you we had a Republican House from 1995 through 2006, a Republican Senate from 1995 through 2006 (except for an 18 month period during Bush’s first term) and of course a Republican President 2000-2008. And you blame Democrats?
If you want to learn more about the many factors involved in the subprime mortgage, I’ll make it easy and give you a couple reputable links so you can read up on it:
https://www.investopedia.com/articles/07/subprime-blame.asp
https://www.thestreet.com/personal-finance/mortgages/subprime-mortgage-crisis-14704400
I can look at my very diversified portfolio and see it stagnating, only going back up somewhat recently after the shutdown. I’m not far left. Not even close. Since you’re all about alternative facts, here is an actual fact for you: I’m a moderate who has voted for three republican presidents and one democrat president. But everything must be dramatized and made extreme because that better fits your narrative, right?
So why are you avoiding my statistic about the 90 day late car loans? Record high by a million loans and a strong indicator of deeper problems with the economy under the surface. The economy was already headed up when Trump took office, or are you going to ignore that fact as well? And what little progress we may have seen in our portfolios has come at what cost? The dismantling of the EPA so my kids can no longer look forward to enjoying clean air and water? Pissing off all of our friends and allies and trading partners to make a few extra bucks? This will only hurt us long-term. We’re trading small short-term gains for long-term calamity and strife.
I just did my taxes this evening and the tax breaks did jack all for me as a middle class white guy with a wife and two kids. Same as last year nearly to the dollar. There are reports everywhere about this. It’s the same freaking amount, despite the child tax credit doubling, the standard deduction doubling, and that new 20% thing for my wife’s small business (daycare). And yet the rich are getting huge returns (I know because my wife’s aunt is a CIO and lives in that world). It’s all smoke in mirrors with your guy, the self-proclaimed greatest deal-maker of all time who couldn’t even repeal and replace Obamacare or build a wall even though he controlled all three branches of government. What a freaking genius, and now that the Democrats control the House he’s a lame duck just like that. All he can do is sign executive orders which the republicans rightly said was an abuse of power when Obama did it because it was wrong and now he has taken it to another level. Looking forward to 2020 when literally anytime else will be running the country. I hope that some day we can get a moderate in there because I see stuff like this green new deal and it’s laughable how poorly thought out it is. We need measured approaches from both sides and more working together.
I wondered how long it would take you to pin this on Frank lol.Minority parties, whether it's Dems or Reps, stop bills all the time in Congress. Democrats repeatedly blocked Republican attempts throughout the 00s to reign in the irresponsible lending practices that were going on at Fanny Mae and Freddie Mac. Conveniently or deliberately, the authors of the links you provided gloss over Mae & Mac's responsibility in the 2008 financial crisis.
Here is another link from Investopedia covering mortgage-backed-securities and Mae & Mac's roll in them:
https://www.investopedia.com/terms/m/mbs.asp
Over 60% of the subprime mortgages that tanked the economy were encouraged and bought by these two GSEs. To make matters worse, the buying of these mortgage-back-securities, which Mae and Mac mostly engaged in, were then sold as financial derivatives to Wall Street.
Influence also matters. Who was most directly responsible for Mae & Mac's practices, particularly in the 90s and 00s? Why, non other than Democrat Barney Frank. Heck, he even had an affair with a high ranking employee at Freddie Mac. No conflict of interest there, I'm sure.
Yeah, there seems to be a very specific type of Trump supporter in online forums who make these short, ridiculous, completely unfounded statements, and then disappear. Probably out of a sense of shame and self-preservation.