GDP Obama Trump.

TNVolunteer73

Former Staff
Nov 2014
33,599
8,708
TN
2015 GDP growth was 2.9% (Obama's highest and the last year of QE)
2016 GDP Growth was 1.9% (declined after QE ended)
2017 GDP growth was 2.2% (deregulation began)
2018 GDP growth was 2.9%

Trump ended the decline in GDP Growth WITHOUT QUANTITATIVE EASING (better known as throwing 89 billion newly printed dollars at the market).

So how did Trump turn a slowing economy into a growing the economy without Quantitative Easing?

Your Opinion:
 
Mar 2019
806
1,293
TN
Obama had started UNWINDING QE, in other words slowly selling off the bonds they had bought. Trump has stopped it. While down from it's peak of 4.25 Trillion dollars the fed still hold 3.8 Trillion in bonds. Dump the bonds, crash the economy.
 

Libertine

Moderator
Apr 2015
15,667
2,997
Katmandu
Obama had started UNWINDING QE, in other words slowly selling off the bonds they had bought. Trump has stopped it. While down from it's peak of 4.25 Trillion dollars the fed still hold 3.8 Trillion in bonds. Dump the bonds, crash the economy.
That is not true, the FED was maintaining a $4.5 trillion balance sheet up until Obama left office.

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highway234

Former Staff
Feb 2010
17,911
7,808
Where'm I At, Doe?
Obama added $1.4 trillion to the national debt in FY2016, that has been reduced under Trump. We are over 3/4 through FY2019 and $0.596 trillion has been added so far.

Debt to the Penny (Daily History Search Application)
The debt has very decidedly not been reduced under trump. You would need to zero out the deficit first.

It's astonishing to me that people still don't understand this. it's sooooo simple. no wonder we're fucked.
 
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Jets

Moderator
Feb 2011
23,403
14,000
New York
The debt has very decidedly not been reduced under trump. You would need to zero out the deficit first.

It's astonishing to me that people still don't understand this. it's sooooo simple. no wonder we're fucked.
And it won’t be. Fiscal conservatism is nothing but campaign rhetoric. Deficit hawks run for office and clip their own wings before the system does it for them. There will always be new “justification” for increased spending regardless of which corporate party is in power.
 
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Libertine

Moderator
Apr 2015
15,667
2,997
Katmandu
The debt has very decidedly not been reduced under trump. You would need to zero out the deficit first.

It's astonishing to me that people still don't understand this. it's sooooo simple. no wonder we're fucked.
The national debt hasn't been paid down by a penny since 1960. The rate of increase in the national debt has slowed from what we saw in FY2016.

The budget deficit doesn't truly account for all debt, it treats some debt as income, that's why the national debt increases by more than the budget deficit every year.
 
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highway234

Former Staff
Feb 2010
17,911
7,808
Where'm I At, Doe?
And it won’t be. Fiscal conservatism is nothing but campaign rhetoric. Deficit hawks run for office and clip their own wings before the system does it for them. There will always be new “justification” for increased spending regardless of which corporate party is in power.
it's clear to me, and i'm thinking it may be to you, that this $22 trillion debt figure will never be repaid. So. There are some hot takes, as there always are:

*Maybe there will be some kind of "debt jubilee." Looking in history, this used to happen from time to time, and as far as I can tell, it was done because continuing to service and enforce debt after a certain point becomes incompatible with having a functional society. that gets my vote, but if we were going to do it, we would have done it years ago, so forget that . . .
*Maybe the number is fake, and for some reason the powers-that-be have concocted this figure to beguile the population in some way or another as a fear tactic, or for some other reason. In which case, we're confronted with the question of who concocted it and why. That's tinfoil hat, so forget that too . . .
*deficits don't matter, which I believe Dick Cheney once said, and his counterparts in the democratic party seem to be on board with too, since when they're in power they really don't do much to reduce the deficit. In which case, we're back to the question of who concocted this figure and why. Back into tinfoil hat territory, so forget that too. or . . .
*operatives of both parties have been massively overspending on the public dime for decades, and this will sooner or later lead to another crash on the scale of 2008 or worse, only this time there won't be fiscal mechanisms for dealing with it.

If I missed an option, I'm all ears.
 
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highway234

Former Staff
Feb 2010
17,911
7,808
Where'm I At, Doe?
The national debt hasn't been paid down by a penny since 1960. The rate of increase in the national debt has slowed from what we saw in FY2016.

The budget deficit doesn't truly account for all debt, it treats some debt as income, that's why the national debt increases by more than the budget deficit every year.
what are the actual deficit numbers since trump took office, i wonder? If he's reduced the deficit, this is your chance to say so.