Putting America First Has Made USA No. 1
S E E D E D C O N T E N T
The left is quickly running out of excuses for why Donald Trump's economic policies have caused a boom rather than the bust that they predicted with such great certainty.
Last year, when the U.S. economy began to percolate with faster growth, the media and other Trump haters argued that this simply reflected a pickup in worldwide growth: Trump was riding the wave of what economists were calling "synchronized growth."
But now what do they have to say? The latest indicators are that, as a Wall Street Journal headline reported on June 3: "Global Economic-Growth Story Fades." Japan's growth rate is estimated to have slowed to slightly negative in the first quarter. The European Union was at an anemic 0.4 percent. The pace of global growth is expected to be much slower over the next two years, according to the World Bank and the International Monetary Fund.
Then there is the outlier: the United States. Here at home, growth is sizzling. Almost all economists now predict a growth rate of above 4 percent for the second quarter of 2018, and Dan Clifton of Strategas, one of the best forecasters of recent times, believes we may hit 5 percent later this year. He points to the surge of investment capital flowing into the United States and how the increased business spending points to several more quarters of this torrid growth. Meanwhile, the rest of the world treads water.
So much for synchronized swimming.
Then there is the argument that Trump's policies have nothing to do with the American prosperity burst. Politico's economics reporter recently published a column insisting that the "GOP tax cut is not why (the) economy is booming." He contemptuously added, "Economist are rolling their eyes at candidates' claims (that Trump's policies inspired faster growth)." Which economists?
As it happens, this is the same gang that was dead wrong about the likelihood of growth in the first place. Now they argue that the tax cuts are just kicking in and can't account for the increased economic activity. But this ignores the anticipatory effect: Businesses are anticipating the tax bill's lower rates on their profits and investments and making decisions accordingly.
Whatever the cause, it is undeniable that America has a new spring in its step. After a decade of malaise, the American economy is the envy of the world today. A recent Bloomberg article reports: "The U.S. dethroned Hong Kong to retake first place among the world's most competitive economies, thanks to faster economic growth and a supportive atmosphere for scientific and technological innovation, according to annual rankings by the Switzerland-based IMD World Competitiveness Center."
But the ultimate judges of all this are the American people -- the voters. They know something big is going on here.
In the years before the 2016 election, about 3 in 10 voters described the economy as good or great. This year, 7 in 10 do. That surge in optimism began immediately after Trump's election and hasn't subsided. The same trend is true for the confidence of small businesses and manufacturing businesses. Up, up and away.
Perhaps the best news of all is to think that maybe Trump's critics are right that the economic thrust from the tax cut hasn't even kicked in yet. If that's true, then buckle up, because we're in for a hell of a ride.
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Hard to take this seriously. The only thing Trump and republicans have put first is themselves. The USA has lost credibility, respect and trust throughout the world. Live in a bubble if you must, but only republican Trumpers believe Trump knows his ass from a hole in the ground, the rest of the world sees exactly what he is, a narcissistic ignorant liar who can't be bothered to learn even the basics about governing and thinks he knows it all. Truly the naked emperor, as the cheering crowds enable his obliviousness. We ain't buying, feel free to enjoy his circus show though.
So we've been #1 in GDP for years, even with the nearly -3% GDP growth at the end of the last Republicans two terms, and saw our economy and stock market enjoy never before seen heights and unemployment dropping to a 16 year low under Obama. When exactly have we not been #1? If you break things down enough you can find a category where we weren't #1 which this sad sycophantic opinion piece does.
"The U.S. dethroned Hong Kong to retake first place among the world's most competitive economies"
So they ignore the overall numbers where we were already stronger than any other nation, hell Russia has a GDP comparative to Mexico which is a measly $1.2 trillion. California alone has a $2.4 trillion GDP, double that of Russia.
It's sad that so many so-called Americans complained about being first in virtually every category claiming we weren't "great" anymore even though the facts prove them demonstrably wrong just because their little pocket of the country had chosen to keep doing things the old way and refused to join the rest of us in the businesses of the future. But those are the base Trump played to, the bitter rats being led by the clownish pied piper, too stupid to realize they've been had. Coal jobs aren't coming back, their desperate situations are not getting better even though they were given false hope and keep supporting the abject failure in the oval office as he gives away American global leadership for a handful of supposedly magic North Korean beans. Trump is turning what was the #1 leader in the world setting the agenda and putting western democracy first into a steaming pile of #2.
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How shocking...
REALITY!
The richest Americans, those in the 95th percentile or above (meaning they earn $308,900 or more come the year 2025) do very well, seeing a boost of more than 3 percent to their after-tax incomes. That’s primarily a result of reductions in their individual income tax rates and a big cut to taxes on corporations, which are disproportionately owned by wealthy individuals.
But the very poorest Americans see a fall in their after-tax income that is almost as large. That is almost entirely the result of the law’s repeal of the Affordable Care Act’s individual mandate. The Congressional Budget Office has estimated that repealing the mandate will lead to 13 million fewer people having insurance over the course of a decade, with much of that reduction coming among the poorest Americans eligible for Medicaid. Fewer people signed up for Medicaid and subsidized Obamacare coverage means lower effective incomes for poor Americans.
And the only individuals given any deference when it comes to paying for Trump's extravagances … like …
TRUMP'S TRIPS TO MAR-A-LAGO COST TAXPAYERS AT LEAST
$6.6 MILLION IN 2017: REPORT
… are the wealthy and the corporate types … those HELPED BY THE TAX CUTS … ALTHOUGH THEY'RE THE ONES WHO DID NOT NEED THE HELP!
(Removed off topic portion) Telo
Haaha. Always end with a joke eh?