Parky60 Loc: People's Republic of Illinois

Parky60 Loc: People's Republic of Illinois

Trump's Annual Report Shows How Much Economy Is Booming
Mike Huckabee ~ February 21, 2020
The annual Economic Report of the President was released Thursday, a massive 435-page compilation of government economic statistics.

Here’s the entire thing in PDF form, if you’d like a little light weekend reading.

If you’d prefer a bottom-line summary, try this: This economy is hotter than Satan’s steam bath.

And no, Obama, you did not build that.

Obama and many Democrats are trying to claim that Trump merely inherited a booming Obama economy, which makes me concerned that they might be suffering from short-term memory loss.

The Obama administration ended just three years ago. Most of us remember it quite well.

Remember when economists used to be surprised by monthly job reports because they were less than predicted rather than more than predicted? That was the Obama years in a nutshell. Hope, but no change.

The White House is going all-out to crush that narrative, and using the numbers in the new report as a sledgehammer.

The administration quotes a number of stats to argue that there has clearly been a major upswing from the end of the Obama years, when many economists were warning we were overdue for a recession (the previous one officially ended in June 2009, but many Americans hardly noticed for years; and when they complained about stagnant pay, anemic job creation and low growth, they were told it was the “new normal” and manufacturing jobs weren’t coming back — get used to it.)

Here are five facts from the new report that show the Trump economy is outpacing Obama’s far beyond what the “experts” predicted:

• Real GDP is 1.4 percent—or $260 billion—higher than projected
• Real wage and salary compensation per household is roughly $2,300 higher than projected
• Total nonfarm payroll employment is 5 million higher than projected
• The unemployment rate is 1.4 percentage points below projections
• The labor force participation rate is 1.5 percentage points above projections.”

That last figure means many people who gave up looking for a job under Obama are now back at work, which also helps reduce the need for government assistance such as food stamps.

It also notes that there were “turnarounds or improvements in the pre-election trends for homeownership, prime-age labor force participation, manufacturing employment, labor productivity, and net wealth for the bottom half of American households.”

That’s right, despite what you keep hearing from Bizarro World (i.e., the Democratic debates), this economy is working for the poor and middle class.

Again, in short: The report confirms that areas that were trending downward or incrementally improving under Obama all took off like a rocket after Trump took office.

There are a lot of charts and graphs in the report, but if you want to summarize them all, imagine a chart showing the acceleration of a powerful speed boat with its motor going full throttle.

Trump’s inauguration would mark the point at which someone cut the rope tying the boat to the dock.

Weasel Loc: In the Great State Of Indiana!!

Excellent Point

Lonewolf

And he still borrows a trillion a year to keep it that way

Weasel Loc: In the Great State Of Indiana!!

waltmoreno

That's what you get when you elect a successful, world class businessman, builder, and land developer to run your ship of state. He's accustomed to encountering all types of bureaucratic obstacles to his building projects and has always had to find ways around them, through them, over them, under them, etc. Remember the favorite words of a bureaucrat are always: "You can't do that!"
Contrast Trump's experience with that of his predecessor. Obama was a community organizer. A successful community organizer essentially sows discontent and grievances in his target audience, and then channels that discontent in the desired direction. It normally takes the form of a payment to the target audience, aka a shakedown. Al Sharpton and Jesse Jackson know all about how to extort millions from businesses for supposed grievances, while they become immensely wealthy in the process. Obama was more subtle in that he'd channel that resentment into votes for himself. But beyond getting the votes he had no clue as to what to do once he got into office. In fact all his cures were straight out of Saul Alinsky's playbook and made the economy worse.

silvereagle

This is to no one inparticular.Economy is good and jobs are to be had.Whats is conviently being swept under the rug is inflation.Food prices are nuts.Cars more than houses used to.You buy soneting now and go back 3 years later to buy it it has tripled in cost.Light bills are nuts. Car insurance is thru the roof.A gallon of paint used to be $18.00 now its $38.00 wtf.

Lonewolf

Your not susposed to notice that

silvereagle

Lonewolf.The last11 years have been nothing but inflation.

roy

And why has wages not kept up,why has ss raises not kept up?

Mikeyavelli

Obama tried to crush the economy, not save it, but he got surprised by the resiliency of the capitalism.
Trump reversed every Obama economic policy, and Obama has the nerve to say Trump is using Obama's success as his own?
Ain't one thing about Obama in this economy. It's the exact opposite.