Bye Bye Obamaconomy, Hello Trumpconomy!

Oct 2011
16,892
13,806
Washington State
]
No one on the left wants to talk about the economy?
I'll talk. Trade Deficit is higher than Obama's, $891 Billion. that's Billion with a "B." Trump added $2 Trillion to the National Debt. Budget deficit will be higher than at anytime during the Obama Administration. So much for fiscally responsible Republican's. The Shit Show continues.

Contrary to what they believe, the majority of households in the US are concerned about their own personal financial situation and prosperity and don't care what Trump is tweeting about Arnold.
Yes, who cares about Arnold?
 
Likes: NeoVsMatrix
Apr 2015
13,448
2,313
Katmandu
]

I'll talk. Trade Deficit is higher than Obama's, $891 Billion. that's Billion with a "B." Trump added $2 Trillion to the National Debt. Budget deficit will be higher than at anytime during the Obama Administration. So much for fiscally responsible Republican's. The Shit Show continues.



Yes, who cares about Arnold?
Our trade deficit isn't $891 billion, the trade deficit goes up in prosperous times, that's why it is higher. Obama added over $9 trillion to the national debt. Our budget deficit has not seen the levels that we saw in the Obamaconomy, and we won't see it in 2019.
 
Jan 2016
50,039
45,998
Colorado
Our trade deficit isn't $891 billion, the trade deficit goes up in prosperous times, that's why it is higher. Obama added over $9 trillion to the national debt. Our budget deficit has not seen the levels that we saw in the Obamaconomy, and we won't see it in 2019.
Trump said he was going to FIX the trade deficit, REMEMBER???

If anything, that was his NUMBER ONE campaign promise.

That America has a large and chronic trade deficit is NOT a sign of prosperity. You would NEVER say that about a random Third World country. If you were told of some underdeveloped country with a large and growing trade deficit, you would probably want to get your money OUT of that country, wouldn't you??
 
Apr 2015
13,448
2,313
Katmandu
Trump said he was going to FIX the trade deficit, REMEMBER???

If anything, that was his NUMBER ONE campaign promise.

That America has a large and chronic trade deficit is NOT a sign of prosperity. You would NEVER say that about a random Third World country. If you were told of some underdeveloped country with a large and growing trade deficit, you would probably want to get your money OUT of that country, wouldn't you??
The USA isn't a underdeveloped Third World, it's the world's largest and most prosperous economy, a trade deficit is expected.
 
Apr 2015
13,448
2,313
Katmandu
That's behind a paywall,


US trade deficit surges to 10-year high in December, ends 2018 at $621 billion despite tariffs

US trade deficit surges to 10-year high in Dec. vs est of $57.3B
Published Wed, Mar 6 2019 • 8:30 AM EST | Updated Wed, Mar 6 2019 • 9:42 AM EST

"For the entire year, the goods and services shortfall increased by $68.8 billion, or 12.5 percent, to $621 billion as the administration railed against unfair trade practices from its global partners. It was the largest trade gap since 2008. Trump and the White House specifically have targeted China, levying a series of tariffs as it seeks a more level playing field and a stop to the theft of intellectual property. "
 
Jan 2016
50,039
45,998
Colorado
That's behind a paywall,


US trade deficit surges to 10-year high in December, ends 2018 at $621 billion despite tariffs

US trade deficit surges to 10-year high in Dec. vs est of $57.3B
Published Wed, Mar 6 2019 • 8:30 AM EST | Updated Wed, Mar 6 2019 • 9:42 AM EST

"For the entire year, the goods and services shortfall increased by $68.8 billion, or 12.5 percent, to $621 billion as the administration railed against unfair trade practices from its global partners. It was the largest trade gap since 2008. Trump and the White House specifically have targeted China, levying a series of tariffs as it seeks a more level playing field and a stop to the theft of intellectual property. "
The U.S. trade deficit is NOT caused by "unfair trade practices" from our global trading partners. What causes our trade deficit is that the United States is living beyond our means, and we have been doing so for about four decades now. The ONLY reason we have been able to get away with this is that we indeed have the world's major international reserve currency. As the French have long complained, this gives the United States 'exorbitant privileges': it allows us to borrow and borrow, in such stupendous amounts that no other country would ever get away with. But at some point, this becomes unsustainable, and the U.S. dollar may then experience a Wile Coyote moment.

I'll leave it to you to figure out what international finance economists mean by that phrase.
 
Apr 2015
13,448
2,313
Katmandu
The U.S. trade deficit is NOT caused by "unfair trade practices" from our global trading partners. What causes our trade deficit is that the United States is living beyond our means, and we have been doing so for about four decades now. The ONLY reason we have been able to get away with this is that we indeed have the world's major international reserve currency. As the French have long complained, this gives the United States 'exorbitant privileges': it allows us to borrow and borrow, in such stupendous amounts that no other country would ever get away with. But at some point, this becomes unsustainable, and the U.S. dollar may then experience a Wile Coyote moment.

I'll leave it to you to figure out what international finance economists mean by that phrase.
I didn't say anything about unfair trade practices.
 
Apr 2015
13,448
2,313
Katmandu
The Trumpconomy keeps on rolling along, looking like another solid first quarter.

Latest forecast: 2.1 percent — April 2, 2019

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2019 is 2.1 percent on April 2, unchanged from April 1.
 

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