Trumps economy failed miserably the first quarter of 2024
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tribune
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Posted 11:08 am, 04/28/2024
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If the election is going to be decided on the economy Sleepy Joe needs to get his DumDems out there to educate the electorate. They need to let everyone know how Obama was overseeing the recuperation of the economy after Bush's giveaway debacle. And how Trump deliberately dragged the economy back down by borrowing $8.7 trillion to enable the big corporations to buy back their stocks, only five actually invested in R&D, updating equipment and increasing employee salaries and benefits. It was also used to give huge tax breaks to the wealthy who neither needed it nor deserved it. If the election is going to be decided on the immigration situation, remind the electorate that illegal immigration was a decades long problem deliberately exacerbated by Trump into a disaster. He trumpeted (pun intended) to all and sundry just how porous our southern border was. He literally created a self-fulfilling prophecy, and the first big caravan of illegals arrived on his watch. All the RanciRepubs have is personal criticism of Biden, no viable solutions to our existing problems other than those which would cause hardship for the middle and working classes and the poor. It's a tragedy that our nation's fate should hang on a choice between avaricious oppression and bumbling incompetence!
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singer
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Posted 3:15 pm, 04/27/2024
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Bidenomics scrapped after slogan mocked by Internet.
Even the installed fraud potus and his gang of liars and crooks know when it's not working.
But they still have Anti fooled. I hope she is smart enough not to continue telling such whoppers about bidennomics .
Even half dead biden knows when all you have left is low IQ mush brains, it 's time to change direction.
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freerangethinker
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Posted 10:01 am, 04/27/2024
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Yours. You said that debt to gdp should 100%. It is much higher. Your rules.
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antithesis
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Posted 2:23 pm, 04/26/2024
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Wait. So 1.6% is good?
It's short of the projected 2.2%, but nowhere near as bad as the -5.3% we saw under Trump before COVID.
From the chart, you'll see that we regularly saw sub-2% growth under Trump.
I notice that you ignored the question, though... what metric has made you think that the economy "failed miserably?"
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DB Cooper
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Posted 1:04 pm, 04/26/2024
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Fed says consumers falling behind on payments - things may get worse
Chicago Federal Reserve President Austan Goolsbee said Friday that while consumer debt levels aren't yet "especially" high, the Fed is concerned about the rate of consumer delinquencies, or missed or late payments on expenses such as auto loans, credit card bills and rent. Americans are already struggling to keep up with their credit card payments. Credit card debt rose $143 billion during the fourth quarter of 2023 from the year before, according to data from the New York Fed. The rate at which credit cards and auto loans are transitioning into delinquency continued to top pre-pandemic levels. Delinquency transition rates rose for all debt types excluding student loans. "The pickup in credit card debt and delinquencies is consistent with the idea that consumers - particularly those [within] the bottom of the income and wealth distributions - are running out of surplus savings and turning back to credit to finance their spending," wrote Evercore ISI in a Monday note.
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surfer
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Posted 9:25 am, 04/26/2024
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DOZO Trump spent four years blaming Obama for his phug-ups, Joe's still got 4yrs and seven months to go.
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tribune
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Posted 9:06 am, 04/26/2024
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Trump spent four years blaming Obama for his phug-ups, Sleepy Joe's still got seven months to go.
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freerangethinker
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Posted 9:02 am, 04/26/2024
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This sounds bad.
https://wolfstreet.com/2024...cary-pace/
Over the past four years, the debt grew by 46.5%, while the economy grew by only 27.6% (both in current dollars). The green label in the chart is the technical jargon for what is going on here that we've used for many years, at first jokingly, but in recent years it has become reality:
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antithesis
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Posted 12:57 am, 04/26/2024
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I'd rather wait for you to explain what metric has made you think that the economy "failed miserably?"
The GDP grew by 1.6%, just slightly lower than the projected 2.2%. This was because of a sharp increase in imports, though
Consumer spending increased from $15.6 trillion to $15.7 trillion.
The unemployment rate stayed about the same, going from the near-record low of 3.7 to 3.8... the 27th consecutive month that the unemployment rate has been below 4.0%.
We added 928,000 new jobs... 350,000 in January, 275,000 in February, and 303,000 in March.
I know that we'll be recovering from the Trump economy for a long time, but I can't think of a single economic metric that isn't going the right direction. So please elaborate... what metric had made you think that the economy "failed miserably?"
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freerangethinker
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Posted 8:38 pm, 04/25/2024
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No wait. It's Biden's economy. But I'll wait for Anti to come along and tell us how it's still Trumps fault.
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