trump's economy failing; worse than Obama's last 3

Trump's pre-pandemic economy was actually worse than Obama's last 3 years!

Obama’s last three years had better growth than Trump’s three years, according to FORBES!

from FORBES, source: https://tinyurl.com/ybt67ukp

The U.S. Bureau of Economic Analysis released its first estimate for the December quarter
and it shows the economy growing at 2.1%. For 2019 GDP growth was 2.3%, which is
down from 2.9% in 2018 and just below 2.4% in 2017, Trump’s first year in office.

Over trump's 12 quarters, only four of them have had GDP growth over 3%
and six were 2.3% or lower. And for the past three quarters, GDP growth has been
only 2.0%, 2.1% and 2.1%, respectively.

This is a far cry from Trump's early boasts of 4%, 5%, and even 6% growth if he was president.

 
Under Trump business investment has turned  NEGATIVE  the past three quarters and is
negative or essentially flat when the impact of inventory changes are taken into account.

 
Trump’s second half GDP growth was WEAKER THAN REPORTED!

    June 2019 quarter: Increases from 2% growth to 2.8% growth
    September 2019 quarter: *DECREASES* from 2.1% growth to 2.0% growth
    December 2019 quarter:  *DECREASES* from 2.1% growth to 1.2% growth

The trend of 2.8% growth in the June 2019 quarter to
1.2% in the December 2019 quarter is NOT POSITIVE!!

Obama’s last three years in office had growth rates of at least 2.17% and as high as 3.06%.

 
For Trump the high point was 2.83% in 2018
when the tax cut seems to have had the largest impact and even fell short of
Obama’s 2014 and 2015 growth rates of 3.06% and 3.05%, respectively.


In 2019 trump's adjusted growth rate was only 1.99%.

This is less than Obama’s three last years in office and less than five of his last six years
despite having both chambers in congress working against him!

(note: similar thread previously seems inaccessible now)

from FOX news:

'Trump poised to add more debt than Obama in first term'

 President Trump, thanks to high deficits in his first two full years in office followed by massive federal expenditures aimed at offsetting the economic effects of the coronavirus crisis, is on pace to add more to the national debt in his first term than did former President Obama - whom Republicans often criticized for irresponsible spending.

Obama in 2010-2013, the first four fiscal years for which he was fully responsible, tacked $4.4 trillion onto the national debt.

Trump, between fiscal 2018 and 2021, is projected to add more than $7.6 trillion to the national debt, mainly on the back of projected $3.8 trillion and $2.1 trillion deficits in 2020 and 2021, according to the fiscal watchdog Committee for a Responsible Federal Budget.

The national debt is currently more than $26 trillion.

FOX News source:

https://www.foxnews.com/politics/trump-poised-to-add-more-debt-than-obama-in-first-term

Trumpsters will not like FOXNews for seeing this piece of news, some of them may start to call FoxNews "fake news".

How much of that debt has been added in just the last 4 months due to the Chinese Virus ?  BTW, Trump hasn't shown himself to be much of a fiscal conservative.   Witness his ambition to have an infrastructure bill.  So, I'm sure he could care less about the FOX piece on national debt.  Besides,  when you have LIBS started caring about the government spending the people's money  ? 

Some already have.

Nice to see FOX News telling ALL sides of stories!!! Even the Libs can quote FOX for their gain. Great to see there is at least 1news agency out there that reports NEWS, not agenda!

Let's see what else FOX reports;

For the third weekend in a row a child 10yrs old or younger has been shot and killed in Chicago! Last two weekends of June have seen 111 shot and 24 murdered in the Windy City.  "We're making progress", says Chicago Mayor Lori Lightfoot.

Eight year old boy shot and killed at Alabama Mall.

CNN??  no deaths reported

MSNBC?? Nope, NADA. Did have; 11,000 new cases, no masks order!!! COVID spikes linked to GOP. 

It's unreal how much real tragedy goes unreported.

where is the blm?   Out stuffing their own pockets 

Fox news actually going against trump??wow. maybe they have been telling the truth for the past 3 1/2 years.... maybe doing their job correctly... 

President Trump promised to eliminate the national debt in eight years. Instead, he plans to add $8.3 trillion.--the Balance.com

Trump can't balance the budget, he will potentially add $8.3 trillion more instead. 

Goldman Sachs cuts 2020 GDP estimate;
now sees economy shrinking ,  -4.6%

Ben Winck
Jul. 6, 2020, 03:27 PM

Goldman Sachs economists lowered their third-quarter US GDP growth forecast to 25%
(down from 33%) on Saturday, citing weak consumer services spending and the strong
uptick in national coronavirus cases.

Reimplementation of strict lockdowns and social distancing practices in states
including California, Florida, and Texas are "already having a noticeable impact
on economic activity," the team led by Jan Hatzius wrote in a note.

Revived state restrictions and continued stay-at-home activity will drag on the US economy
more than previously expected, Goldman Sachs economists said Saturday.

The year's total economic contraction will worsen to -4.6%  from -4.2%, 
the team led by Jan Hatzius wrote in a note to clients.

Source: https://tinyurl.com/ydcwpkfb

proves trumps economy is worse than obamas

Only vs. cherry picked Obama years................

Correct! And that negative comparison for trumpy is BEFORE coronavirus.

And that in trump's 4 years as president will compare to Obama adding just over $9 trillion spread over 8 years.

Trump is failing badly.

Probably my own fault but I don't see a lot of "cherry picked" numbers. I see lots of averages and cumulative numbers but those don't qualify as "cherry picked".

Let's go back to predicting a Biden victory November 3rd and full blown communism January 21st. that was more fun. Or maybe we can resurrect the "birther" argument. That has been ignored for a while. How about "billion" being almost extinct in budgetary and economic matters; now being eclipsed by "trillion"? Diverse opinions welcome. No harm in kicking that around as we don't have either one anyway. Semantics don't produce money, only ink, paper and printing presses produce money. Isn't printing money sort of like increasing domestic productivity? There, we have solved the GDP problem. Just add whatever amount we print to the GDP and the economic skyrocket is launched. The possibilities for inane discussion in this forum never cease. Certainly one or two of these can carry the day until November 4th, at which time everything contributed before that date will become irrelevant.  

Not cherry picked cumulative numbers,....  Cherry picked years.....years ...

Lets compare Obama's first three years against President Trumps 1st three years and see how the cumulative number work out..If,, not you are cherry picking what Obama years are being used to compared to President Trump's years..

Now to compare apples to apples we can use President Trump's last three years in his second term.against Obama's last three years ...just have to wait four more years.. Otherwise you are picking and choosing Obama's preferred years vs. President Trump's,locked in years ..in makes the whole thread just a bunch of gobbledygook.....and proves nothing..

Upon rethink, we can look at

Obama's last 3 years  compared to

trump's last 3 years  (prior to the pandemic, which is being very gracious to trump since HE is in fact a very large part of why the US is suffering so much from it to this day)

Already done in this thread. 

And it's a cakewalk.....for Obama.