Contrary to Trump’s claims, last quarter’s GDP growth was anything but “amazing”
Aug 13, 2018 19:46:04 #
Bad Bob
Loc: Virginia
https://www.yahoo.com/finance/m/f0a70487-2681-37e6-8ffd-a10c1857d2f2/ss_contrary-to-trump%E2%80%99s-claims%2C.html
Contrary to Trump’s claims, last quarter’s GDP growth was anything but “amazing”
Donald Trump, along with his eldest son, was ecstatic when the Commerce Department reported that the economy grew 4.1 percent last month. Donald Jr. insisted (wrongly) that GDP growth had never even passed 2 percent under President Obama. Trump himself pronounced the number “amazing.” No one should claim that 4.1 percent is not impressive growth, but it is far from unprecedented. Nor was it an especially big surprise. First, GDP data are often erratic. Bad quarters tend to be followed by unusually good quarters and vice versa. For example, after the economy shrank at a 1 percent rate in the first quarter of 2015, it then grew at a 5.1 percent rate in the second quarter and 4.9 percent in the
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Contrary to Trump’s claims, last quarter’s GDP growth was anything but “amazing”
Donald Trump, along with his eldest son, was ecstatic when the Commerce Department reported that the economy grew 4.1 percent last month. Donald Jr. insisted (wrongly) that GDP growth had never even passed 2 percent under President Obama. Trump himself pronounced the number “amazing.” No one should claim that 4.1 percent is not impressive growth, but it is far from unprecedented. Nor was it an especially big surprise. First, GDP data are often erratic. Bad quarters tend to be followed by unusually good quarters and vice versa. For example, after the economy shrank at a 1 percent rate in the first quarter of 2015, it then grew at a 5.1 percent rate in the second quarter and 4.9 percent in the
Story Continues
Aug 13, 2018 19:50:34 #
Bad Bob wrote:
Trump's GDP growth will always be the greatest thing on earth according to Trump. We don't care that he talks like that. We know things are improving...it's obvious enough where I live. My Ma has more in her 401k. There's a lot of Mas out their who have more in their 401k. If Trump wants to brag a little, let him. That's just what he does.
Aug 14, 2018 15:45:43 #
Bad Bob wrote:
Yes there was one quarter in 2014 where the GDP not only was 5.1% which is even higher than the past few quarters under Trump. But it was only the one quarter and did not last even to the next quarter. For the year of 2014, the average was 2.6%. Under Obama, most quarters had very low GDP. In fact, for several quarters it was lower than when he was elected which was after the crash when the economy tanked. About half the quarters under Obama, the GDP was under 2%. One big spike in GDP is not nearly as good as steady improving growth over several quarters.
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