Randy131 wrote:
Well we shall see, because time will tell, but we all know that whatever President Trump does, it couldn't be as bad as the US economic statistics have proven to be in the last 8 years under Obama have been, during supposedly 8 straight years of an economic recovery that actaully started 20 days before Obama was inaugurated. Since President Trump has repealed, replaced, and reversed all of Obama's economic killing policies and agendas with his own EOs back in Jan & Feb, the GNP is now projected to be at 4% by the end of the year, more than twice the yearly GNP of every one of Obama's yearly GNPs during those 8 straight years of an economic recovery, the first President in US history that never had at least one year with over a 2% GNP, and Obama had 8 years to accomplish it, but couldn't, because of all his economic killing policies through all his EOs that President Trump got rid of with his own EOs back in Jan & Feb.
Well we shall see, because time will tell, but we ... (
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Yir completely misguided the Great recession hit bottom and began a recovery in Dec 2009 10 months after Obama was inaugurated. What do you people do just make stuff up that you want to believe. The recovery began for two important reasons Congress passed a stimulus bill that Spent three quarters of a trillion dollars in an effort to replace the consumer dollars that was lost in the housing bubble that burst . The piggy bank in home equity had dried up Stores were closing, bankruptcies were rampart and 750,000 jobs per moth were going down the tube. The Federal Reserve shelled out 11 trillion dollars in loans and guarantees of toxic assets to the big wall street banks and dropped the Fed Funds rate to near zero, the FDIC then began moving in on insolvent banks rolling them over to new ownership and covering the losses with FDIC insurance. FDIC is the only surviving feature of the 1933 Glass Stegall Act the rest was repealed in 1999 and led to the financial collapse in 2008. Had the Treasury dept. and the FED not taken these actions the great recession had the potential to become the greatest depression this country had ever in its history. An economy doesn't snap back from such a severe crash. At the time Obama warned us that he might not fix it in four years and he did not --he could not. The great depression of the 1930's did not fully recover until the on set of war and the huge government spending that transpired following the declaration of war