But Reagan was improving on the sluggish Carter economy. It's harder to get 3% growth when unemployment is already approaching full capacity.Don't get me wrong I liked Reagan.
@I-am-a-nobody That is true - and I made allowance for that. However, the underlying reality is that Trump took a mediocre economy and made it better. Reagan took a trainwreck of an economy and started the longest continuous period of economic growth to that time.By far, Reagan's was the more formidable accomplishment. Trump's was an improvement of degree. Reagan's an improvement in kind.
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Edit: should have been more clear related to the "relatively". I meant to say that they have small impact on the economy relative to what a lot of people think (both accrediting POTUS with it and dragging them through the dirt for it). Not that they in general have small impact, as POTUS clearly has more impact than 99.99999% of the population
has florida had porportional cases as new york, there is a lot to this and your point is very falacious. this argument is what is known as an argument from ignorance, along with a few others. but lets go back, the hardest hit was new york and california, it is because the country did do a loackdown and restricted travel to and from other countries that we do not have more cases now. we need to play this very carefully as we need to protect our more valnerable population from thie virus or we could end up with more people dying from this than world war 1 and world war 2 combined. we already passed more deaths from this virus than the vietnam, gulf war, afganistan war, and iraq war combined.
@johnieohm2 Florida has the most retirees and elderly and it’s still proven liberals wrong
Honestly, the pandemic didn't matter. The economy wasn't great since before Bush and Trump was yet another president who put a band aid on the debt bubble. That bubble was going to pop anyways. Even if only China shut down and everywhere else stayed open, they are the main supplier of the world so many American companies already on edge with debt would suffer from supplier trouble until a vaccine is found. There's barely a left and right in America. Just socialists by different names and means.
Prove it! And no quoting fake news outlets like CNN and Amazon WashingtonPost!
Lmao hon you’re the one making constant baseless claims whilst ignoring most everyone with disagreements. The economy was doing quite well. So tell me, why do you think the economy is on the verge of collapse?
I'm not a millionaire, but I'm doing alright.
@I-am-a-nobody the cost of living has quadrupled in the past 30 years, and the price of a new home has quintupled in that time for the same size home. The price of gasoline has more than doubled in the past 20 years, although presently it's down a bit due to the coronavirus cutting demand. In that same time period, the minimum wage has barely gone up, and the average income has barely gone up, so the lower 80% of the population, on average, have gotten poorer, while rich people on average are richer than ever before.
@wadedanielsmithMinimum wage is the same since 7/24/2009 at $7.25. It was $3.80, 30 years ago. (ABOUT DOUBLE)However, many folks in entry level "McDonald's" type jobs are making $10 to $12 where I live. In cities like SF NYC or DC, it's probably closer to $15-$20.At the same time median incomes have gone from around $30K to $63 in the last 30 years.(ABOUT DOUBLE)www.multpl.com/us-median-income/table/by-yearThe CPI has gone from about 130 to less than 260 in the last 30 years (ABOUT DOUBLE).Gas prices are about double. ($1.15 thirty years ago.)I think I see a trend!(By the way, houses are way up, but desktop computers and just every other electronic device is way down when you look at relative performance.)You're just regurgitating progressive propaganda.
@coffeewithcreamI'm showing 3+% in Q2 & Q3 of 2018.www.multpl.com/.../by-quarterIt's also harder to expand when only 3.5% are unemployed.We were at full capacity.
@I-am-a-nobody And Trump got there by...Interesting chart. Note that it is in 2012 inflation adjusted dollars not dollar value at the time.
@coffeewithcreamRight, so since inflation was around 2.5% there was actually greater nominal growth than indicated since the table is stripping out the effects of inflation.
@I-am-a-nobody It's interesting reading the chart to see during Reagan's time the growth would be 8 % using those adjusted dollars. That's interesting. The adjusted inflation skews the charts. You'd drop, not increase the GDP indicators. The US Bureau of Economic Analysis I notice does give Trump credit for three quarters of 3% growth or better, Q3 and Q4 of 2017 and Q2 of 2018 and Q1 of 2019. It also notes six of Trump's quarters had 2.3% growth or lower. That's interesting as the tax cuts were to rev the economy.Obama had growth over 3% for both all of 2014 and 2015, but your argument that it would show extreme growth when pulling an economy out of a recession is apt.
@coffeewithcream"You'd drop, not increase the GDP indicators."You do realize that Nominal GDP > Real GDP, thus the nominal growth was greater than Real GDP growth rate, right?www.thebalance.com/what-is-real-gdp-how-to-calculate-it-vs-nominal-3306040