WTF Bloomberg Article: Trump’s Economy Really Was Better Than Obama’s

In all fairness, obama had to recover Bush’s recession

And Trump jumped on the band wagon

By 2016, officials in the Treasury Department and at the Federal Reserve had concluded that the economy was at full employment and that further improvement in the labor market was unlikely.

This was in line with the Congressional Budget Office’s guidance that further declines in the unemployment rate would push the economy beyond its sustainable capacity.


Once in office, Trump ignored this consensus.

He implemented a program of tax cuts, spending increases and unprecedented pressure on the Fed to cut interest rates to zero and keep them there.

Trump’s goal of 3% growth was derided as delusional, while a bipartisan chorus of commentators declared his policies reckless and irresponsible.

They were anything but. Not only did the unemployment rate continue to fall, but the percentage of Americans aged 25 to 54 either employed or looking for a job saw its first sustained rise since the late 1980s.

This inflection point changed the character of the labor market.

Ideally, a Biden administration would keep Trump’s three growth-enhancing policies and jettison his trade initiatives.

What is crucial, however, is that it not believe its own campaign rhetoric and be satisfied with merely returning to the policies of the Obama administration.

Trump proved that an aggressive growth strategy can improve the fortunes of the average American family.

That strategy should continue.


[link to www.bloomberg.com (secure)]



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Last Edited by ~kpm~ on 11/13/2020 09:37 PM

Obama did a terrible job, yes he had to dig out of a hole but he was using a spoon to do it

Link?

He actually did a good job considering nobody thought he had the skillset

He surprised a lot of people

Last Edited by Digital_Warrior on 11/13/2020 09:37 PM

Ferrara: Obama & Biden Produced Worst Recovery Since the Great Depression

Nobel prize winning economist Milton Friedman observed “the worse the recession, the stronger the recovery.”

That is because the economy has to grow faster than normal, and typically does grow faster than normal, when recovering from a recession to catch up to where the economy would have been without the recession.


By this metric, after the deep 2008-2009 financial crisis, the Biden-Obama economy should have come out of that recession in an historic, skyrocketing boom.

But nothing like that happened until Donald Trump was elected in 2016.


Those Biden-Obama years included the longest period since the Great Depression with unemployment above 8 percent.

Unemployment remained above 8 percent for 43 months, from February 2009, when Biden-Obama adopted the nearly $1 trillion dollar stimulus package, until August, 2012.

That was almost the entire first term of Biden-Obama. It also included 30 months with unemployment above 9 percent, from April, 2009 until September, 2011.

That was the longest period with unemployment above 9 percent since the Great Depression.

The Biden-Obama recovery performed so poorly because Biden-Obama increased taxes, government spending, government-centric jobs programs, and regulation, crowding out private sector jobs.




[link to theeconomicstandard.com (secure)]

Huh? You mean Obama, the garden-variety leftist who initiated a lot of typical job-creation-chilling thinking and policies of a liberal philosophy?

He was like a cheap parent who makes his kids do all the chores and then rewards them not with a nice allowance or trip to Disneyland but a long-winded lecture about the virtues of liberal do-gooderness and orders to close the blinds at night. Or what that parent calls his taxes and household regulations.

How about all those shovel ready jobs, lol