Longest Consecutive Positive Monthly Job Growth in United States History
I stopped reading after that.
Posted on 11/28/2019 11:01:55 PM PST by TECTopcat
First of all i cannot imagine the hate that must go into the thinking that you want to "shut down Trump supporters" ... at thanksgiving-really Thanksgiving?!. And I know these numbers don't make sense with record low unemployment but I need some help deconstruct job growth numbers: Here's article:
Today hundreds of millions of Americans will sit down with close friends and family over heaping portions of turkey, stuffing and mashed potatoes. After the usual small talk about chilly weather and the day’s football matchups, discussions will inevitably shift to politics. In a country bitterly divided over the Trump presidency and his looming impeachment, heated arguments will begin. Tempers and passions are likely to flare. But they shouldn’t.
Political discussions should not be about left or right, Democrat vs. Republican. Instead, they should be about what is objectively right or wrong for the country. Thanks to the enormously corrosive effects of partisan, ratings-driven media outlets (and the dangerous echo chambers they fuel), such fact-based, ideologically neutral distinctions have largely disintegrated.
With these realities in mind, the facts are simply not on Trump’s side. A few discussion points — from the perspective of a political independent — on key topics follow:
The Economy: President Donald Trump made the economy a centerpiece of his 2016 campaign. Three years into his presidency, Trump relentlessly touts job growth under his administration. But it is important to note that 1.1 million fewer jobs were created during Trump’s first 33 months in office compared to Obama’s last 33. Trump also promised to bring manufacturing jobs back to the United States. But manufacturing is now the smallest share of the American economy in 72 years. Meanwhile, median household income, an important economic measure, has remained largely stagnant over Trump’s first three years in office. Trump administration spin aside, increases in household income trail those under Obama, which grew steadily toward the end of his administration.
Moreover, in selling a massive tax cut to the public, Trump promised “4, 5, even 6 percent” annual economic growth. With dismal growth expected this quarter, Trump will finish his first term with a high-water mark of 2.9 percent annual economic growth (in 2018) — matching Obama’s economic record. Apparently, Trump’s much-touted rollbacks of regulations protecting American workers and the environment had very little effect on economic growth. Moreover, the massive Trump tax cut, which overwhelmingly benefitted the wealthy and corporate interests, did not “pay for itself,” as Trump predicted it would. Perhaps worst of all, despite his repeated promises and assurances, Trump’s tax cut had almost no effect on the economy.
This stunning lack of growth begs the question: Why are we racking up trillions in debt (much of it bought up by China) thanks to the Trump tax cut? The only discernible effect of the Trump tax cut appears to be an explosion in wealth and income inequality. Indeed, inequality in America is now at levels not seen since Wall Street greed caused the economic crash of 1929 and the Great Depression. For his part, Trump told his ultra-wealthy friends that “You all just got a lot richer” immediately after his tax cut was passed.
But a system where three citizens own more wealth than the poorest half of the country cannot be sustainable. Indeed, with inequality fueling large-scale, brutally violent protests around the world, Americans would be wise to take heed of the pitfalls of extreme wealth concentrated in the hands of a few. And, if contemporary warnings do not suffice, the French, Russian and Cuban revolutions, among many others, serve as stark reminders of what may be to come if wealth is further concentrated in the United States.
Moreover, as a direct result of the massive Trump tax cut for the wealthy, 2018 was the first year ever that tax revenues actually declined in a relatively strong economy. This paved the way for the Trump administration to post the largest monthly deficit in U.S. history, further driving up the federal debt. While many commentators blame Obama for skyrocketing debt during his administration, they conveniently ignore that those increases — according to the U.S. Treasury — were overwhelmingly due to the long-term compounding effects of the massive George W. Bush tax cuts for the ultra-wealthy.
The (relatively small) debts accrued due to the Obama administration’s aggressive economic recovery policies helped bring unemployment down from a high of 10 percent to 4.7 percent, an impressive decline of more than 5 percentage points. It should come as no surprise that economists overwhelmingly credit Obama’s policies with bringing the U.S. economy back to life after the Great Recession — an economy which Trump now loudly claims credit for.
Lastly, stock market gains are by no means an indicator of economic well-being on Main Street. After all, Wal-Mart’s stock could skyrocket, only to leave millions of Americans stuck in painfully low-paying jobs. But despite relentlessly touting Wall Street gains, Trump significantly trails both Obama and Clinton in stock market performance at this point in their respective presidencies.
Health care: Trump (and GOP) efforts to undo the Affordable Care Act resulted in 1.1 million Americans losing health coverage in 2018. This breaks a 10-year streak of rising numbers of insured Americans.
Tragically, two-thirds of Americans filing for bankruptcy do so because they cannot afford to pay medical bills — often despite having health insurance. Perhaps worse, America is seeing an alarming increase in “deaths of despair,” particularly among the white, working-class citizens who turned out in droves to vote Trump into office. An increasing mortality rate is not the sign of a healthy economy or country; it is a hallmark of staggering wealth and income inequality.
Immigration: Deportations are far lower under the Trump administration compared to the same period during the Obama administration.
Foreign Policy: Trump should be commended for standing up to China’s unfair trade and economic espionage practices. But despite branding himself the ultimate “dealmaker,” Trump’s deal-making abilities on the international stage have proven abysmal. North Korea’s brutal dictator, for one, played Trump like a fiddle. By exploiting Trump’s weakness for pageantry and flashy photo opportunities, Kim Jong Un hoodwinked an oblivious Trump into gaining international legitimacy for his murderous regime.
In Iran, Trump’s disastrous (and utterly failed) “maximum pressure” campaign displays a stunning misunderstanding of Iranian history and strategic priorities. Indeed, Trump’s unilateral withdrawal from the landmark 2015 nuclear deal — negotiated alongside America’s closest allies and supported by key figures in the U.S. and Israeli security establishments — represents a tremendous blunder that is emboldening the worst, most conservative, anti-American factions in Iran. Trump’s withdrawal from the agreement also gives cover for Iran to inch ever-closer to obtaining a nuclear bomb.
It should come as no wonder that America is the laughingstock of the world. With Trump siding with authoritarians and dictators around the world, American credibility and popularity on the international stage has plummeted to historic lows.
Impeachment: Democrats claim that Trump improperly (and illegally) withheld crucial security assistance to a close American ally at war for personal gain. A litany of (decidedly unimpeachable) patriots delivered a series of devastating blows to Trump’s defense. Even Fox News anchors and analysts have slammed Trump’s actions as “impeachable.” At the end of the day, only one question matters: Why was the security assistance to Ukraine stopped? The answer is painfully obvious.
“Identity” Politics: Trump has railed against political correctness. But Sen. Bernie Sanders (I-Vt.), South Bend, Ind., Mayor Pete Buttigieg, Rep. Tulsi Gabbard (D-Hawaii) and Andrew Yang have all spoken out against the corrosive effects of “identity” politics and political correctness run amok. Perhaps most importantly, President Obama’s forceful rejections of “woke” culture and ideological purity should be a wakeup call for the left. Continuing to push such divisive narratives will further alienate the crucial voters in Ohio, Michigan, Pennsylvania and Wisconsin who decide American presidential elections.
Interesting name in the Russiagate era, Rennenkampf...
Paul Georg Edler von Rennenkampff, more commonly known as Paul von Rennenkampf in English, was a Baltic German nobleman, statesman and general of the Imperial Russian Army who commanded the 1st Army in the Invasion of East Prussia during the initial stage of the Eastern front of World War I.
A Million dollar idea- a smoke detector that shuts off when you yell out “I’m just cooking!”
The Hill. Oh Boy.
(Over) The Hill.
yes but we should dig out the employment numbers- theirs can’t be right if we have record low unemployment and record employed and more joining work force but I would like to see actual #s.
Pretty sad state when libs don’t think of being thankful on thanksgiving but how to shut down family members
It helps not having to be accurate or to provide context. Do your own research on the economics of the country, and you will see how misleading this article is.
On that note...author says that last 33 months of last admin had more jobs created than first 33 months of this admin. The last admin always said that they inherited a recession. We were barely, squeaking(maybe), out of one with this one as people and businesses finally started to adjust to the last admin’s disastrous rules. If I’m not mistaken, a significant portion of the jobs gained during the last admin were part time and they used some fuzzy math to arrive at some of their numbers.
I’d also like to see how many jobs were LOST, in the first 63 months of the previous administration. Especially when the last occupant proudly stated that “those manufacturing jobs aren’t coming back”, when in fact some have and more continue to do so.
You cannot argue with a reprobate. They are beyond the realm of common sense. Don’t even begin to waste your breath.
My argument for Trump, around my family is this. He isn’t Hitler. Thats all it takes for me to win. They are that batshit crazy.
Use a Jujitsu move. “I know how politics is so important to you, but in the grand scheme it really matters very little. What really matters is where you are going to spend eternity. And if you keep rejecting Jesus Christs free gift, you are going to spend it in hell and drag along with you your wife and children...” That way you will not have to leave, they will. Or you may even save their lives!!
What is this author smoking?
Here’s what I point out to them. It shuts them up.
There are two types of decision makers:
Logical decision makers gather all the facts, both pro and con, relating to a decision. They then continue to gather facts and adjust their decision accordingly.
Emotional decision makers first make a decision based upon how they “feel” about the issue. They then fall in love with their decision and only see the good facts supporting their decision. They are blind to any facts against their decision and will emotionally attack any messenger who delivers contrary facts, or even asks questions, the answers to which deliver contrary facts.
About this time, I point out how emotional they are and that proves they are an irrational, emotional decision maker and they should be careful trusting their own judgement.
Longest Consecutive Positive Monthly Job Growth in United States History
I stopped reading after that.
Figures don’t lie, but liars figure. It’s all in how you push the numbers.
President Obama created 8.9 million jobs by the end of December 2016, a 6.2 percent increase. There were 152.3 million people employed at the end of his term. That’s compared to 143.4 million working at the end of the Bush administration.
But that doesn’t give the total picture. The economy lost 8.5 million jobs as a result of the 2008 financial crisis. It kept shedding them until December 2009. Since that low point, Obama created 16 million jobs, a 11.6 percent increase. If measured that way, Obama was the third-largest job creator in terms of numbers.
Obama attacked the Great Recession with the American Recovery and Reinvestment Act. It created jobs through public works. Many of those jobs were in construction. That successfully reduced the unemployment rate. But that meant Obama increased the debt by $8.6 trillion, a 74 percent increase. That drove the debt-to-GDP ratio to 104 percent.
President Reagan added 16.5 million jobs during his eight-year term, a 16.5 percent increase. Reagan was the second-largest job creator both number-wise and percentage-wise. There were 116.1 million people working in December 1988 compared to 99.6 million in December 1980.
Reagan responded to the 1981 recession with Reaganomics. This was expansive fiscal policy based on supply-side economics. Reagan cut the top income tax rate from 70 percent to 28 percent. He also cut the top corporate tax rate from 48 percent to 34 percent.
President Trump created 4.7 million jobs in his first two years. That’s a 3.1 percent increase over the 152.2 million people working at the end of Obama’s term. Trump passed the Tax Cuts and Jobs Act in 2017. (Note: That’s 2 years vs Obummer’s 8 years. Not apples vs apples)
https://www.thebalance.com/job-creation-by-president-by-number-and-percent-3863218
The national debt doubled under Barak Obama. It now exceeds our GDP.
"Immigration: Deportations are far lower under the Trump administration compared to the same period during the Obama administration."
Self deportation and fewer entering illegally.
Iran? Has the author been paying attention to current events? The regime tripled oil prices and is killing people in the streets. We don't have to do anything.
I could go on, but there is no point. People who believe in talking points are not prepared or willing to really talk.
Philman, excellent-we need to know these facts
Notice how the author conveniently excludes Obummer’s 1st year where 8 million jobs were lost.
I scanned about a dozen articles on jobs creation, Obama vs Trump. I was amazed st how biased Forbes was against Trump.
Fewer illegal border crossings mean fewer deportations.
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