Posted on 07/27/2018 5:43:25 PM PDT by Beave Meister
With the political world deeply focused on the question of whether the Trump administration comprises a gang of Russian pawns, less attention has been devoted to more mundane questions, such as what ever happened to Trump's economic policy?
As it happens, economists are keeping their eye on that ball, and their conclusion is that it's in a bad way. More specifically, they recognize that Trump's policy is aimed heavily at achieving annual economic growth of more than 3%.
During the presidential campaign, Trump promised growth of 3.5% a year, and sometimes even 4%. There's no disagreement that a sustained growth rate of this magnitude would be a significant achievement. Over the past decade, the economy has grown at an average of about 2% a year. The Congressional Budget Office forecasts an annual average of about 1.9% well into the next decade.
The U.S. hasn't had sustained real annual growth (that is, over inflation) of better than 3% since the 1990s, with a brief spurt in 2004 and 2005. Making up the difference from 2% to more than 3% looks like a pipe dream.
(Excerpt) Read more at latimes.com ...
The nice thing about President Trump is he’s showing EVERYONE how wrong the journalists are, every single day.
It’s not over until Krugman leaps out of a high rise window.
The AP’s Jonathan Lemire reacted to the 4.1% GDP Growth Rate this morning on MSNBC’s “Morning Joe” by saying it will have a huge impact on Trump’s Re-election chances, but chimed in – “We certainly have plenty of time for it to slow down.”
People judge the economy by their own lives, not obfuscation in a newspaper.
Yes, a man who dreams dreams and makes them come true. Right Mr. Hiltzik? What do you say now? I believe it would be, "There's no disagreement that a sustained growth rate of this magnitude would be a significant achievement."
Yes, that's right. Are you going to write an article about this "significant achievement?" C'mon! You can do it!
Krugman is looking even more bug-eyed and irritable these days. He keeps writing end of the world predictions.
Well, he should only get credit for 2.8%, while Obama gets credit for the other 1.3%. Without Obama’s contributions, Trump would still not have gotten over 3% growth. Obama’s average for his 8 years was a bit over 1% growth, so, let’s not take that away from him. ;)
So, the LA Times is right. Kinda.
(I went back to my liberal logic to arrive that that bit of analysis above). ;)
Not there yet. The point was to get a >3% year, not a quarter.
So far it’s just a half-year in, two quarters to go, and growth rate needs to average just under 3% for those quarters.
Chances are good, at this point, but not certain.
Wow. How wrong can you be and still have a job? Uh oh! It’s because YOU’RE A LEFTIST!!!
Hey dumbass! Remember that Obama said these high-paying jobs are never coming back. IT’S BECAUSE YOU DIDN’T WANT THEM TO COME BACK!!!
“The trouble with our Liberal friends is not that they’re ignorant; it’s just that they know so much that isn’t so.”
Trump may not be able to deliver on all of his campaign promises, but by doggies he doesn’t give up easily. And he actually never gives up. He just wants to fire his next round. Rinos before him didn’t even try.
Nice, the LA Slimes has there version of Paul “always wrong” Krugman.
Therefore, the Propaganda Media will assiduously avoid the topic like the plague...
They Like Dreamin’.
Krugman is a politician, not an economist.
They must be choking on these lines now, but outside of this site, who will remind them?
he (small H ) does that all the time R’s are in office.
Hey Mr. HILTZIK.... Funny guy... Now Suck One!
To be fair, Hiltzik was talking about sustained growth. In the excerpt above, he said:
The U.S. hasn't had sustained real annual growth (that is, over inflation) of better than 3% since the 1990s, with a brief spurt in 2004 and 2005. Making up the difference from 2% to more than 3% looks like a pipe dream.
The following graph shows GDP growth under Obama and Trump:
The numbers can be seen at http://econdataus.com/gdp_growth_18q2.html. As can be seen, Trump has not yet achieved GDP growth of 3 percent over 4 consecutive quarters. Even the last four quarters, including the current one with 4.1% annualized growth, had a growth of just 2.8 percent.
To be Fair,,,
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