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Thread: Trump falsely claims historic turnaround

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  1. #1 Trump falsely claims historic turnaround 
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    WASHINGTON (AP) President Donald Trump falsely claimed he's pulled off "an economic turnaround of historic proportions."
    Speaking at the White House Friday after the government reported that the economy grew at an annual rate of 4.1 percent in the second quarter, Trump declared that the gains were sustainable and would only accelerate. Few economists outside the administration agree with this claim.
    His remarks followed events Thursday in Iowa and Illinois, where Trump falsely repeated a claim that the U.S. economy is the best "we've ever had" and incorrectly asserted that Canada's trade market is "totally closed."
    A look at the claims:
    TRUMP: "We've accomplished an economic turnaround of historic proportions." remarks Friday at the White House.
    THE FACTS: Trump didn't inherit a fixer-upper economy.
    The U.S. economy just entered its 10th year of growth, a recovery that began under President Barack Obama, who inherited the Great Recession. The data show that the falling unemployment rate and gains in home values reflect the duration of the recovery, rather than any major changes made since 2017 by the Trump administration.
    While Trump praised the 4.1 percent annual growth rate in the second quarter, it exceeded that level four times during the Obama presidency. But quarterly figures are volatile and strength in one quarter can be reversed in the next. While Obama never achieved the 3 percent annual growth that Trump hopes to see, he came close. The economy grew 2.9 percent in 2015.
    The economy faces two significant structural drags that could keep growth closer to 2 percent than 3 percent: an aging population, which means fewer people are working and more are retired, and weak productivity growth, which means that those who are working aren't increasing their output as quickly as in the past.
    Both of those factors are largely beyond Trump's control.
    ___
    TRUMP: "One of the biggest wins in the report, and it is, indeed a big one, is that the trade deficit very dear to my heart because we've been ripped off by the world has dropped."
    THE FACTS: Trump is correct that a lower trade deficit helped growth in the April-June quarter, but it's not necessarily for a positive reason.
    The president has been floating plans to slap import taxes on hundreds of billions of dollars of foreign goods, which has led to the risk of retaliatory tariffs by foreign companies on U.S. goods.
    This threat of an escalating trade war has led many companies to increase their levels of trade before any tariffs hit, causing the temporary boost in exports being celebrated by Trump.
    Richard Moody, chief economist at Regions Financial, said the result is that the gains from trade in the second quarter will not be repeated.
    ___
    TRUMP: "We're having the best economy we've ever had in the history of our country." remarks in Granite City, Illinois.
    THE FACTS: Even allowing for Trump's tendency to exaggerate, this overstates things.
    The unemployment rate is near a 40-year low and growth is solid, but by many measures the current economy trails other periods in U.S. history. Average hourly pay, before adjusting for inflation, is rising at about a 2.5 percent annual rate, below the 4 percent level reached in the late 1990s when the unemployment rate was as low as it is now.
    Pay was growing even faster in the late 1960s, when the jobless rate remained below 4 percent for nearly four years. And economic growth topped 4 percent for three full years from 1998 through 2000, an annual rate it hasn't touched since.
    ___
    TRUMP: "The Canadians, you have a totally closed market ... they have a 375 percent tax on dairy products, other than that it's wonderful to deal. And we have a very big deficit with Canada, a trade deficit." remarks in Peosta, Iowa.
    THE FACTS: No, it's not totally closed. Because of the North American Free Trade Agreement, Canada's market is almost totally open to the United States. Each country has a few products that are still largely protected, such as dairy in Canada and sugar in the United States.
    Trump also repeated his claim that the U.S. has a trade deficit with Canada, but that is true only in goods. When services are included, such as insurance, tourism, and engineering, the U.S. had a $2.8 billion surplus with Canada last year.
    ___
    Associated Press writers Jill Colvin in Peosta, Iowa, and Granite City, Ill., and Hope Yen, Darlene Superville and Ken Thomas in Washington contributed to this report.



    Delusional right wingers can spin this with fake news however they want but only morons are buying into the crap Trump is spewing lol

    What else can you expect from Donnie? This is a guy that proudly filed bankruptcy multiple times and showed off about it. He'll bankrupt the U.S of A anytime now lol.

    Now extremist rightys can come in here and spew hate and nonsense and act like they won a debate just cause they said so lol. These guys just make up stuff as they go along...
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  2. #2  
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    "I voted for Trump!" - road2retardation/Jaguara

    Progressivism is the bastard child of Marxism
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  3. #3  
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    Quote Originally Posted by Sheriff Joe View Post
    "I voted for Trump!" - road2retardation/Jaguara

    Yeah right....He voted for Trump...lol

    road2retardation

    I like that name
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  4. #4  
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    Clown boy is always looking for attention

    Or I should say road2retardation is always looking for attention
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    Quote Originally Posted by Greenbacks View Post
    Yeah right....He voted for Trump...lol

    road2retardation

    I like that name

    Yea, I like Welcher and Pauper for your name too....
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    GDP boom: It sure looks like Trumponomics is doing what Obamanomics couldn’t

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    July 27, 2018 | 6:15pm

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    Friday’s excellent economic news — 4.1 percent yearly Gross Domestic Product growth in the second quarter — poses an immediate question: Will it keep up?

    If so, then Team Trump has decisively debunked the critics who pooh-poohed its vow to bring average GDP growth above 3 percent. It also exposes as utterly false Obama-era claims that the US economy had fundamentally changed, and that we’d all have to get used to a “new normal” of growth averaging just 2 percent.


    The difference is huge: Already, the Trump boom has the unemployment rate at historic lows, including for blacks and Hispanics. And the tight labor markets are pushing up wages and pulling people who’d given up hope
    back into the workforce, two enormously positive developments.

    As for keeping it up: Critics claim these GDP numbers are just a temporary jolt from last year’s tax cuts, but in fact the cuts should bring a sustained growth in business investment on the order of 10 percent — and that means sustained, broad expansion.

    President Trump’s deregulation drive is another marked economic plus over the Obama years, as well as another reason why the “new normal” was never truly inevitable — and why 3 percent-plus growth can continue even as the Federal Reserve raises interest rates and slowly unwinds its other desperation measures of the last presidency.

    Which leaves potential trade-war blowback as the biggest dark cloud on the horizon. Let’s hope that the deal Trump and the European Commission
    president announced this week is a sign that all the bluster will end with lower trade barriers, at least with America’s friends and allies.

    Bottom line: So far, at least, Trump’s doing a better job of delivering on “Make America Great Again” than his predecessor ever did on the “Hope and Change” front.

    Progressivism is the bastard child of Marxism
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    Quote Originally Posted by Angel Martin View Post
    Yea, I like Welcher and Pauper for your name too....
    welcher not pauper
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    Quote Originally Posted by Angel Martin View Post
    Yea, I like Welcher and Pauper for your name too....
    Angel Dust

    Call me Greenbacks
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    Quote Originally Posted by busterhyman View Post
    welcher not pauper
    Dick head

    Call me Greenbacks
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    Liberals, living lies and denying the truth

    Stick your semantics where the sun don't shine as you desperately try to deflect the truth

    You were wrong about the economy, we were right, the debate is over
    "The best argument against democracy is a five-minute conversation with the average voter". "A rising tide raises all boats". "MAGA"
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    Trump did do dat ! Trump is the best POTUS ever!
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    Quote Originally Posted by Willie99 View Post
    Liberals, living lies and denying the truth

    Stick your semantics where the sun don't shine as you desperately try to deflect the truth

    You were wrong about the economy, we were right, the debate is over

    It's funny how you republicants love to talk about lies and denying the truth yet it's all you do lol. Trump inherited a great situation after Obama and he's lying and taking credit for it and for things he hasn't even done. All you can do is deny it or make up fake news and bias, misleading statistics to try to argue it. Lol. Wow. How unpatriotic.
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    Quote Originally Posted by road2perdition View Post
    It's funny how you republicants love to talk about lies and denying the truth yet it's all you do lol. Trump inherited a great situation after Obama and he's lying and taking credit for it and for things he hasn't even done. All you can do is deny it or make up fake news and bias, misleading statistics to try to argue it. Lol. Wow. How unpatriotic.
    Wipe that smirk off your face.
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    Quote Originally Posted by road2perdition View Post
    It's funny how you republicants love to talk about lies and denying the truth yet it's all you do lol. Trump inherited a great situation after Obama and he's lying and taking credit for it and for things he hasn't even done. All you can do is deny it or make up fake news and bias, misleading statistics to try to argue it. Lol. Wow. How unpatriotic.
    please explain this great situation that trump inherited
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    Road is a douche. The economy is doing great. The tax cuts were a catalyst. Tired of the bashing. Trump wins in 2020.
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    Trump is the best POTUS ever!
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    Thank God Obama only had a total of 4 months of “total control” of Congress during which Obamacare was passed. Thank God that enough Republicans were in place to keep that pan buttered for someone like a Trump to take advantage of and prosper whereas Obama could have but didn’t.
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    Quote Originally Posted by busterhyman View Post
    please explain this great situation that trump inherited
    He had nowhere to go but up
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    Quote Originally Posted by mplastered View Post
    He had nowhere to go but up
    A lot of truth to that

    All he had to do was get rid of Obama era regulations and then rid ourselves of Obama's toxic business rhetoric and then lower taxes and baddafuckingbing, the economy soars

    When the fucking idiots argue Obama set the table, they're just showing everyone how ignorant and uninformed they are. They're showing the world why they're democrats, in large part because they can't think for themselves and their small minds get molded by bullshit
    "The best argument against democracy is a five-minute conversation with the average voter". "A rising tide raises all boats". "MAGA"
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    Quote Originally Posted by Willie99 View Post
    A lot of truth to that

    All he had to do was get rid of Obama era regulations and then rid ourselves of Obama's toxic business rhetoric and then lower taxes and baddafuckingbing, the economy soars

    When the fucking idiots argue Obama set the table, they're just showing everyone how ignorant and uninformed they are. They're showing the world why they're democrats, in large part because they can't think for themselves and their small minds get molded by bullshit

    Lol, Obama inherited post 911 and blundering Bush. Trump inherited Obama. Not going to waste my breath with you extremist righty clowns. You guys are delusional and uneducated. Anything said by me will be argued with bias statistics and circular nonsensical logic. I remember owning a righty on here a few weeks ago on his silly and ignorant argument about corporate welfare. It's embarrassing how uneducated and clueless you guys are.

    Debating with your guys is like bickering with children. No point. I don't care to raise my blood pressure arguing with clowns on the internet about politics. I really don't care. I maintain my stance and hope you guys broaden your horizons.

    Also, just because you don't have a good post secondary education isn't an excuse for being racist, ignorant, paranoid and intolerant. Goodbye.
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    Quote Originally Posted by road2perdition View Post
    Lol, Obama inherited post 911 and blundering Bush. Trump inherited Obama. Not going to waste my breath with you extremist righty clowns. You guys are delusional and uneducated. Anything said by me will be argued with bias statistics and circular nonsensical logic. I remember owning a righty on here a few weeks ago on his silly and ignorant argument about corporate welfare. It's embarrassing how uneducated and clueless you guys are.

    Debating with your guys is like bickering with children. No point. I don't care to raise my blood pressure arguing with clowns on the internet about politics. I really don't care. I maintain my stance and hope you guys broaden your horizons.

    Also, just because you don't have a good post secondary education isn't an excuse for being racist, ignorant, paranoid and intolerant. Goodbye.
    you keep saying that - but you keep coming back- i don't think you know what goodbye means
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  24. #24  
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    Quote Originally Posted by road2perdition View Post
    Lol, Obama inherited post 911 and blundering Bush. Trump inherited Obama. Not going to waste my breath with you extremist righty clowns. You guys are delusional and uneducated. Anything said by me will be argued with bias statistics and circular nonsensical logic. I remember owning a righty on here a few weeks ago on his silly and ignorant argument about corporate welfare. It's embarrassing how uneducated and clueless you guys are.

    Debating with your guys is like bickering with children. No point. I don't care to raise my blood pressure arguing with clowns on the internet about politics. I really don't care. I maintain my stance and hope you guys broaden your horizons.

    Also, just because you don't have a good post secondary education isn't an excuse for being racist, ignorant, paranoid and intolerant. Goodbye.
    Well said. Funny how these clown didn't have SQUAT to say about farmers getting a form of welfare, which, of course, was brought on by Twittler's stupid ass tariffs. The effects of that will take a minute to kick in, but, kick in they will-and THESE chimps will still be putting up the brave face towards that crook who bent them over the couch.
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  25. #25  
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    Quote Originally Posted by Dafinch View Post
    Well said. Funny how these clown didn't have SQUAT to say about farmers getting a form of welfare, which, of course, was brought on by Twittler's stupid ass tariffs. The effects of that will take a minute to kick in, but, kick in they will-and THESE chimps will still be putting up the brave face towards that crook who bent them over the couch.
    You have zero idea as to why, who and how farm subsidies work, and why they are even necessary. Go blow your welfare guy.
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