S E E D E D C O N T E N TIncredible numbers. I remember when “the experts” laughed about breaking 3%. Just because Obama never broke 2% doesn’t mean that someone with great policies can’t. Let’s keep this going.
Donald Trump. Jr says Obama never broke 2 percent GDP growth. He did. 15 times.
Donald Trump. Jr says Obama never broke 2 percent GDP growth. He did. 15 times.
Donald Trump Jr. is a proud son. When he heard the news of the economy surging to 4.1 percent GDP growth, he immediately took to Twitter to tout his father's achievements.
"Incredible numbers," he wrote . "I remember when 'the experts' laughed about breaking 3 percent. Just because Obama never broke 2 percent doesn't mean that someone with great policies can't."
Donald Trump Jr.
There's just one problem with Jr.'s claim: Former President Barack Obama did, in fact, break 2 percent growth on multiple occasions. There were 15 quarters during Obama's presidency when the economy experienced 2 percent growth or higher, data from the Federal Reserve Bank of St. Louis shows. Additionally, Trump Jr. is boasting that today's rate is the fastest since 2014's 4.9 percent growth — which he may recall was a year when a certain other president was in office.
While Trump Jr. crowed with delight over the 4.1 percent growth rate, economists have said that the high rate is likely not sustainable because it was aided by trade activity spurred by the current global exchange of tariffs. The growth is likely temporary, experts say, and will probably cool down to around 3 percent throughout the rest of 2018. The president's son might be less excited about that number when he recalls that 2015's annual growth was 2.9 percent.
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One day before he goes to prison Don Jr. should let us all in on what it feels like to be an idiot.
Link please
The news said this afternoon that this GDP growth spurt was due in large part by farmers filling soybean orders before the tariffs kick in. Also, admittedly, people had more disposable income and were actually spending it.
Donnie Jr. is a disgrace to the nation. Like father like son.
What is wrong with making sure what you say is connected to reality?
Because trump's base would disown him for not saying what they want to hear.
Also it is showing effects of corporate tax cuts and the added stimulus of a bump in government spending.
Take away those and it is about where it was.
Like father like son, both are epic liars.
I swear. They just blurt out anything that pops into their heads.
The sad thing is, the followers probably believe it.
Looks like he's a short fingered vulgarian just like daddy dearest. The shit din't fall very far from the turd.
Removed, We'll be having none of that here!
Jr. bragging about 4.1%? Obama was over 5% in 2014....
Once again...
For a quarter maybe? I don't ever remember that.
LINK PLEASE
Note that the LARGEST 1 year jump in the last decade was from -8 to +4 in 2009. Then in 2010, then in 2014.
I didn't see the GOP coming out and cheering or proclaiming a 'strong economy' after any of them.
Wait WHAT? Isn't that the Act that y'all insisted ad nauseam FAILED? Why yes, YES is was.
I actually used the online app that allowed me to follow the investments and grants made in my area so I KNEW that was bullshit. We got funding to hire 3 County Sheriffs Deputies, a revamp on our County Courthouse, St. Mary's College in ND got a BIG grant, a local private school got a grant for new plumbing and city water hookup, my closest town FINALLY put in wheelchair access sidewalks on the main drag. There was a lot more in my area alone but those are the investments I remember off the top of my head.
I know you've had a good response to that demand but one more for good measure as it shows clearly that there was even one quarter (Q22014) that was damn near 6%:
Alas, but he remains the only President to never reach a year of 3% growth
How many Presidents had a 12 point growth in GDP in a year?
12% GDP in one year? Ok I'll bite....
Your'e talking quarters
Again, that's a quarter. Obama himself told us about "the new normal"..... slow GDP growth, a stagnant jobs market, and falling real household incomes. Then came Trump! The economy is thriving again.
Did you miss the above graphic. Obama from Jan 2009 to Jan 2010 -8 to +4.
nope
It seems as if there is perception, considering how the economy is doing under Trump, that had Hillary won the election, America would be in decline--facing economic depression, North Korea would be waging war in Asia, Al-Qaida would be bombing our cities, Europe would be overrun by Islamic terror and world society would be crumbling.
As far as The Trump Cartel using false claims about almost everything, the Trump base expects and demands it. And this is all that matters.
TO EVERYONE :
THIS ARTICLE IS NOT ABOUT OBAMA'S "LIES" , OR "TRUMP'S " ECONOMY. IT IS ABOUT DONALD TRUMP JR. BEING UNABLE TO RESTRAIN HIMSELF FROM LYING ABOUT THE GDP UNDER THE PREVIOUS PRESIDENT.
IF THE COMMENTS CANNOT BE DIRECTED MORE TOWARD THE TOPIC I WILL CLOSE THIS ARTICLE.
Actually, what Donald Trump Jr. said is true in a way. The average yearly GDP from 2009 to 2017 is 1.97% and that is just using the yearly numbers. I added 2009, because ARRA was passed and made effective in February 2009 and was Obama's original signature legislation commonly referred to as "The Stimulus". I added 2017, because usually no President ever affects the Fiscal Year they become President in. 2009 is an exception due to how big The Stimulus was (over $800 billion). According to the St. Louis Fed, 2009 had a GDP growth rate of 0.3%. 2017 had a growth rate of 2.5%.
I hope this chart pulls up for you:
Okay, you will have to edit the chart and change it to a bar graph, change it to yearly, and eliminate the second line. As well as change the first date from "1930-01-01" to "2009-01-01".
The news that came out yesterday referred to one quarter and that is what Trump Jr was responding to.
If he meant by year he could have said by year. BTW his father hasnt had a year of 3% GDP growth either.
Stop making excuses for these people if you want to have credibility.
I'm pointing out that what he said is somewhat true about Obama's economy. Remember, he said "Obama's never broke 2%" and that was what I was referring to being somewhat true. On average, Obama's GDP never broke 2%. He owns the numbers from 2009 to 2016. I would have to see when Trump's specific policies took affect and compare them to 2017's numbers to give a completely accurate annual return, which could eliminate the 2.5% of 2017 from the Obama count making his average GDP much lower than 2% instead of hovering around that number. Right now you are lacking credibility as you are conflating 2% with 3%.
LOL. By using your own reasoning Trump has never had a year of 3%, so why then is Trump Jr. commenting at all? He says nothing about averaging out Obama's 8 years. He's talking about the news of the day, which is that the GDP for the second quarter of 2018 was over 4%.
Just face reality, he listens to his father insult and make stuff up about Obama and mimics him. Do you really think trump Jr. worked out in his mind the "averages" that you did? He spit out a lie because that is what dad does and that is what those people do. You care about accuracy a million times more than any of the Trumps do.
So? Do you defend Obama's and Pelosi's lies about the PPACA? Remember, we were supposed to realize $2500 per year in savings, keep our plans, and keep our doctors. Yet, you are going into a frothing madness over Donald Trump Jr. claiming that Obama did not get growth of 2%. If you went by the actual quarterly numbers of Obama, he never had any CONSISTENT growth of 2%. The best he ever had was two quarters in a row, then the 3rd quarter might actually be a negative growth. More often it was an anemic 1.5% or lower growth rate in the 3rd quarter. Trump hasn't had a quarter yet that was below 2%. The first quarter of FY2017 ended before Trump took office and is wholly under Obama and that was under 2%.
Interesting that you want to 'eliminate the 2.5% of 2017 from the Obama count' to Trump's advantage but fail to 'eliminate' the -4 from the first quarter of 2009 which brings down Obama's average over 8 years.
You are not addressing the premise or point of this article. So I guess we are done here.
I am addressing the point. You want a "Gotchya!" piece and I am destroying it.
So your posit is that you are destroying it by deflecting from the GDP to the ACA? Hilariously delusional.
If you paid any attention, I would have eliminated FY 2009, but Obama owns that yearly number due to ARRA and the fact that almost all the other appropriations for FY2009 were held off until Obama was sworn in. Only 3 of the appropriations bills for FY2009 were passed while Bush was still in office. I stated that I would actually have to see what Trump proposed and had passed in 2017 to see if 2017 needed to be eliminated for Obama and that was because I want to be fair to Obama. Right now, I am giving him the benefit of the doubt. And, I was not going to eliminate the 1st quarter from the numbers for either Obama or Trump as I was using the Yearly numbers only.
I wasn't deflecting anything. He is trying to talk about lies and credibility. I am point out that defending the PPACA is defending a whole series of lies that actually affected people's pocketbooks and hurt more people than it helped due to making insurance far more unaffordable than if the bill had not been passed. I actually made a blow by blow accounting of it on the site that shall not be named as the Oregon exchange was being implemented and then scrapped. I kept pointing out that good insurance is low premium, low OOP, and low deductible; but the PPACA has high premiums, high OOP, and high deductibles for its acceptable policies. I, even, pointed out how those lies spilled over into businesses and their group plans and gave an example from my family's dairy farm in PA how their insurance went from $0.00 deductible to $1500 deductible. Donald Trump Jr did not lie per se as I showed in the numbers and Obama did lie about something that directly affected millions of Americans, and that destroys the entire premise of this article. And, that is the entire reason he says he is done. He lost and he knew it. You are fighting a feeble rear-guard action knowing that there is no winning for your argument.
ROFL. Trump Jr had to have been referring to a 2.5 GDP growth at any point from Obama. He is comparing it to 3 pt growth from his father's administration and all Trump Sr. has as far as 3 pt GDP growth is concerned is quarters.
You are giving Trump Jr far too much credit, which is what Trump worshipers do as regards these serial liars.
Then you give Obama CREDIT for the 12 point BUMP in the GDP in 2009. You're one of the first from your side.
Yes, Boehner's Speakership was THE worst in recent history. He couldn't even the perform the basic responsibilities of his office, even with the GOP 'Golden Boy' Ryan in charge of Ways and Means.
Then TP further screwed the country and they haven't stopped since their 'Freedom Caucus' took hold in the House in 2010.
Trump has already taken credit for the meager gains of 2017.
Which include the -4 from the 1st quarter of 2009 when NONE of the Stimulus money was spent since requests for funding and grants had to be vetted.
Bullshit.
The premise of this article is comparing the GDP of Obama and Trump. PERIOD, full stop.
It has NOTHING to do with the ACA or ANY other legislation.
Therefore, inserting your OPINION about the ACA is merely a deflection.
U.S. Will Spend $2.6 Trillion Less on Health Care Than Previously Estimated
No, you added 2009 in order to get the effect of the disastrous Q1 GDP (which was still part of the Bush disastrous FY2009 (which didn't end until Sep30, 2009) result of which was clearly a part of the recession that Obama inherited. Not a single Obama policy had been implemented at that point and particularly not a single dollar of the stimulus had been spent. IOW, you packed the Bush disaster onto Obama's back to make him look responsible for all the damage done before he took office and continued to drag down the economy for most of 2009. In fact, by the beginning of Obama's first FY (FY2010, beginning on Oct. 1, 2009 the GDP went positive for the first time after 4 straight quarters of loss. That happens to coincide exactly with the early effects of from the ARRA.
If Obama had not had ARRA, FY2009 would not have been his to deal with. He, also, activated the 2nd half of TARP, which I did not even mention in my other comments. So, even though TARP was passed under Bush, half of the TARP enactment belonged to Obama as it was the half that was held in reserve. So, that actually causes his actions to creep into those Q1 numbers despite those belonging to Bush.
He is not going to correct his false statement either. The truth means nothing to the Trumps, or to their supporters who worship lying scumbag con artists.
He is a soldier is the Trump Army built for Post-truth America.
The markets have been treating me well for years, this year is just more of the same, although I have backed out of most of my positions.... FOMO isn't gonna get me. Glad I sold Facebook a couple months ago lol.