The Trump implosion thread!

Quote: Tanko

Record unemployment across every demographic, including the disabled.

7.2 million job openings. One million more jobs than people to fill them.

Average household income at an all-time high, up $5,400 during first 3 years of Trump, vs $3,300 for all eight years of Obama.

Under Obama, real median household income did not begin increasing until 2015. It was lower in 2014, than it was when he took office in 2009.

Slowest economic recovery since WW2.

That’s all we got after $4 trillion in QE and $27 trillion in bank bailouts.

Thank you Tanko. The Democrats want to harp on a phone call about a meeting and was the pressure greater than it should be, and was it a demand or a favor, and was it about corruption or specifically about Biden corruption, while the Republicans want to harp on higher wages, lower unemployment, higher stock market.....

And Trip, no, I don't give Trump all the credit, but he certainly gets some if not most of the credit.

In my recent retirement I've had to meet with a bunch of 'financial guys'. ALL of them understand Trump's personal weaknesses. ALL of them feel he is WAY better for the economy than any of the Socialists that the Democrats are putting forward. As I've said a dozen times, I did not vote for Trump, and will not vote for him in 2020, but there is NO DOUBT in my mind the country would be better off than with a President Warren or Sanders or Buttigieg.

Average household income is not a good measure of how average Americans are doing.
Increases at the top end of the wage scale, such as due to recent tax cuts, will pull up the average household income, with or without any wage increases for lower earners.

Median income (half of Americans make more, half of Americans make less) is a better indication of how more people are doing.

There are many articles that focus on that, or on working class Americans, that show much less improvement, and less than under Obama.

For example
https://www.bloomberg.com/amp/news/articles/2019-10-31/trump-boasts-on-economy-undercut-by-weak-middle-class-pay-gains

So if you asked middle class Americans how they are doing under Trump, you would likely get a shrug, since not much has changed.

Also don't forget that the tax cuts were paid for with debt, and increased revenue due to stimulus won't make up for it, like everyone said ahead of time, so those increases in average household income are going to be paid for by everyone, with interest.

Lastly, most of those wage reports don't include the consumer price index (inflation) and when you factor that in, spending power is flat.

Quote: Dalex64

Also don't forget that the tax cuts were paid for with debt, and increased revenue due to stimulus won't make up for it, like everyone said ahead of time, so those increases in average household income are going to be paid for by everyone, with interest.

Funny how your side never whines that the Obama pork program, a/k/a "stimulus" as paid for with debt. And that was something we actually had to pay for.

Tax cuts are not "paid for." Wasteful spending is.

Quote: Dalex64

and when you factor that in, spending power is flat.

Thanks for showing how we're doing
worse than under Obummer. Snicker.

Could be worse, we could have one
of the socialist nutjobs on the Left
running the country. They'll they'll
praying for another Trump..

Quote: AZDuffman

Funny how your side never whines that the Obama pork program, a/k/a "stimulus" as paid for with debt. And that was something we actually had to pay for.

Tax cuts are not "paid for." Wasteful spending is.

When you don't cut spending to match the tax cut, the tax cut is being paid for by debt. That is simple math, no matter how you try to spin it.

Quote: Evenbob

Thanks for showing how we're doing
worse than under Obummer. Snicker.

Could be worse, we could have one
of the socialist nutjobs on the Left
running the country. They'll they'll
praying for another Trump..

What I am showing is in fact that - we the working class are not doing as well as we were under Obama.

Quote: Dalex64

When you don't cut spending to match the tax cut, the tax cut is being paid for by debt. That is simple math, no matter how you try to spin it.

No.

Spending is paid for with debt. The government actively spends.

Taxes are money stolen from the citizens. Stealing less is not "paid for."

Do you "pay for" a reduction you took in pay in a bad year the same way you pay for a new TV?

The other simple math is that Obama was trying to prop up the economy. Once that happened, basic economics states that when you are under Trump's most amazing world's best economy ever, you pay down that debt, and even RAISE taxes to moderate inflation.

Quote: Dalex64

The other simple math is that Obama was trying to prop up the economy. Once that happened, basic economics states that when you are under Trump's most amazing world's best economy ever, you pay down that debt, and even RAISE taxes to moderate inflation.

Too bad the stimulus was about pork to liberal special interest groups, not propping up the economy.

Raising taxes does not moderate inflation. The 70s proved that.

Quote: Dalex64

What I am showing is in fact that - we the working class are not doing as well as we were under Obama.

Yet everybody I know is doing much
better. Odd huh.. My brother works
as a yard switcher, running semi's
to 7 different factories in the area.
There are 6 of them. He says he
would have to kill somebody to get
fired. He see's drivers break rules
that would have gotten them
terminated before Trump, but there
is nobody to replace them now so
they keep their jobs. And have had
2 raises since Trump, and none before.

Yeah, it's soooo much worse now. LOLOLOL!