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Thread: The Failed Economic Promises Of Donald Trump

  1. #21
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    Quote Originally Posted by Eve1 View Post
    I have one simple question. What were you earning in 2016 and what are you earning now 2016? What were you spending on expenses in 2016 and what are your expenses now? Are you better off or not? Forget the bullshit anybody else tells you about the general public. Look at your own situation PERIOD.
    Pitiful low interests have been a net big loss. Much worse.

  2. #22
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    Quote Originally Posted by BigLeRoy View Post
    When he was on the campaign trail, Donald Trump certainly made a lot of outlandish economic promises to the American people. Well, here is his REPORT CARD.

    I will not focus on what I think were his more minor promises, such as his silly promise to revive the coal industry and bring back thousands and thousands of coal mining jobs, which never made any more sense than promising to resurrect the moribund typewriter industry. The coal industry is dying from natural market forces, and I suspect that MOST of us know that. No, I am talking about his more MAJOR promises, such as the following:

    (1) Economic Growth of 4%, or More: Grade: FAIL We have not gotten to 4% economic growth, or anywhere near to it, nor are we going to. No CREDIBLE economist is forecasting such a remarkable pickup in economic growth, for the simple reason that it would require a genuine productivity miracle, which is simply nowhere in sight. First quarter real GDP growth this year was 2.3%, which most financial news sources described as decent but not great growth. And most forecasters are predicting something like 3.3% growth for this year, with the stimulus of Mr. Trump's tax cuts (especially for corporations) and the benefits of a globally synchronized economic expansion, which is rather rare. But after this year, virtually all forecasters are expecting growth to SLOW DOWN again. This is true of the Congressional Budget Office, the Federal Reserve, the International Monetary Fund, and every private sector forecaster of repute that I've been able to find. Growth will be back in the BELOW 2% range starting in 2020 and beyond. So, no 4% growth on the horizon. Sorry, this gets a FAILURE grade.

    (2) Solving the Trade Deficit: Grade: FAIL This one is easy. The trade deficit is GROWING under Trump's policies, and is now at the highest level in more than a decade, since before the Presidency of Barack Obama. And Mr. Trump's policies are at least partly RESPONSBILE for this, as I have posted on recently, because there is a macroeconomic LINK between the budget deficit (which is soaring) and the trade deficit, with Goldman Sachs estimating that the trade deficit increases by $35 for every $100 increase in the budget deficit. And, bear in mind, this was Mr. Trump's signature issue on the campaign trail! He said that America has this enormous trade deficit because EVERY other nation in the world is 'taking advantage of us'. It is an absurdist theory of how international trade works, and stems from Trump's zero-sum views formed during his years as a casino operator.

    (3) Better and Cheaper Health Care: Grade: FAIL Remember this promise? Mr. Trump promised that after he wrecked Obamacare, he was going to get America "much better healthcare at much lower costs". Well, so much for THAT promise! In fact, his former HHS Secretary Tom Price recently admitted that with the end of the individual mandate, health insurance premiums are likely to increase rather dramatically for many people. No kidding! For people in their 50's and early 60's, your health insurance premiums might be about to SKYROCKET. Younger and healthier people will be dropping their health insurance in large numbers, figuring that they don't need it, which will FORCE the health insurance companies to start charging much more for the higher-risk people remaining in the pool. Ouch.

    (4) Big Middle Class Tax Cut: Grade: C-, at best. Nobel Laureate Paul Krugman had a NYTimes column the other day calling the tax cut a Big Nothing-Burger. And from the standpoint of the middle class, it sure seems that way. For many people, it has already been completely gobbled up by higher gasoline prices. And if they now get socked with much higher health insurance premiums on top of that, well, look out below. Could get ugly. Marco Rubio also had some nasty words for that tax cut, too. Wow.

    Overall grade has GOT to be an F.
    You wasted your time posting this crap.

    It takes time to get to your goals. You simply can't snap your fingers and they, "goals", magically appear.

  3. #23
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    Quote Originally Posted by roberthughey View Post
    You wasted your time posting this crap.

    It takes time to get to your goals. You simply can't snap your fingers and they, "goals", magically appear.

    Which is why Trump is being deceitful when he tells his supporters that he's responsible for job growth and low unemployment. That's an economic trend that he inherited. His policies are just beginning to have their effect upon our economy.

  4. #24
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by roberthughey View Post
    You wasted your time posting this crap.

    It takes time to get to your goals. You simply can't snap your fingers and they, "goals", magically appear.
    I wasted my time posting for the likes of you, that's true.

    We are NOT going to get to 4% economic growth, Robert. We're just not. We'll get decent growth this year, maybe in the 2.7%-3% range, because we are GOOSING the economy like crazy, but growth will slow down after this year, and then slow SHARPLY in 2020 and beyond. I believe I explained that in my post. Sorry you didn't understand it.

    The trade deficit is going to SOAR in the next few years, Robert. It is NOT going to get smaller. Again, sorry if you don't understand that, or why.

    We are NOT going to get 'better and cheaper' healthcare, as Donald Trump promised.

    Honestly, I don't know WHAT you are looking at, that you think those things are going to happen.

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