Fed Chairman Powell "economy too good to be true"

Jan 2016
46,304
42,202
Colorado
#11
Wasn't Obamas last year 1.6?

And, wasn't Trumps last quarter 4.2%?

HMMMMM.....
Yes, that's what goosing the economy with wildly irresponsible tax cuts can buy you: a few quarters of faster economic growth. And that's what we're likely to get; a few quarters in the middle of this year with above 4% growth. And then the growth will tail off. As I've pointed out, to you and others repeatedly, virtually EVERY credible forecaster expects growth to subside to less than 2% in the years beyond 2020, for purely demographic reasons.
 
Apr 2015
12,884
2,198
Katmandu
#12
Obama himself never made such a prediction, but some of his economists did, that's true. They were wildly wrong, quite obviously. The point is, there were very serious economists warning back at the very beginning of 2009 that we were looking at possibly a full DECADE of very slow growth. And they were RIGHT.
Obama's first budgets submitted to Congress were based on 4.5% growth.
 
Apr 2015
12,884
2,198
Katmandu
#13
Yes, that's what goosing the economy with wildly irresponsible tax cuts can buy you: a few quarters of faster economic growth. And that's what we're likely to get; a few quarters in the middle of this year with above 4% growth. And then the growth will tail off. As I've pointed out, to you and others repeatedly, virtually EVERY credible forecaster expects growth to subside to less than 2% in the years beyond 2020, for purely demographic reasons.
Federal revenues are up this year because of Trump's tax reform. What's irresponsible about increasing federal tax revenues?

There was less added to the national debt in fy2018 than in fy2016, what's irresponsible about reducing the rate of debt growth?
 
Jan 2016
46,304
42,202
Colorado
#14
Federal revenues are up this year because of Trump's tax reform. What's irresponsible about increasing federal tax revenues?

There was less added to the national debt in fy2018 than in fy2016, what's irresponsible about reducing the rate of debt growth?
False cause fallacy. Federal revenues are up this year because a large number of people have been moving from part-time jobs to full-time jobs, raising their incomes and therefore the taxes they are paying, which are withdrawn automatically from their paychecks in the vast majority of cases. You could try to make a tangential case that that that trend is happening because of Trump's tax reform, but you'd find it difficult to do so.

Why did you skip over fy2017? Why are you ignoring the projections for what is going to happen to our national debt in the out years?