Biden Presidency will be a Nightmare for America economically!

[Phantasmal]

Then, why did it do so poorly under Obama? Sure it tanked just as he was elected, and we can quibble over the cause of that. But while in office Obama's economy limped along except for the rich getting a lot richer.

The Carter economy was an absolute disaster.

Clinton did well once the Republicans took control of Congress and he was smart enough to work with them, something Obama could never manage. In Clinton's term it also greatly helped that Reagan had just ended the Cold War with the collapse of the Soviet Union and he could draw down the military substantially.

It didn’t do poorly under Obama, that’s a Republican lie. It recovered from the Bush years and two wars.

 

[T. A. Gardner]

Well, the Republicans think everyone does. Trump as well.

Then why did Obama have the highest number of people on food stamps, welfare, and lowest employment rates in many decades while Trump's economy had record employment right up to the Corona-nonsense?

 

[LV426]

Then, why did it do so poorly under Obama?

It didn't.

It did better under Obama than under Trump and Bush the Dumber.

Sure it tanked just as he was elected, and we can quibble over the cause of that.

No, we know the cause: "a dramatic weakening of underwriting standards for subprime loans beginning in 2004 and extending through 2007."

Obama's economy limped along except for the rich getting a lot richer.

While the rich did get richer, Obama's best annual and quarterly GDP growth have not been beaten by Trump, and exceeded Bush the Dumber's.

The Carter economy was an absolute disaster.

Carter inherited an economy that was already on the downswing thanks to Nixon messing with Fed policy, and the Oil embargo.

Carter created more jobs than Bush the Dumber, Bush the Elder, and Trump combined (even before COVID).

Clinton did well once the Republicans took control of Congress and he was smart enough to work with them

How did he work with them to improve the economy? Republicans did nothing. They lost the shutdown battle. Government spending grew by 27% from 1993-2000.

They did pass the Capital Gains tax cut which ended up tanking the economy.

In Clinton's term it also greatly helped that Reagan had just ended the Cold War with the collapse of the Soviet Union and he could draw down the military substantially.

Reagan didn't end the Cold War...the USSR dissolved about two years after Reagan had already left office.

What killed the USSR wasn't our military spending, it was perestroika, Chernobyl, and the famine. We had nothing to do with any of that.

 

[Phantasmal]

Then why did Obama have the highest number of people on food stamps, welfare, and lowest employment rates in many decades while Trump's economy had record employment right up to the Corona-nonsense?

George Bush economy, the recovery as I stated before.

 

[LV426]

Then why did Obama have the highest number of people on food stamps, welfare

Did he? Are you sure about that? What do you mean "highest number"? Gross totals? A percentage of the workforce?

I believe far, far more people are on those things today, thanks to COVID, than ever during Obama.

Also, you can reduce food stamp and welfare dependency by raising wages. Remind me, who opposes raising wages?

while Trump's economy had record employment right up to the Corona-nonsense?

He never had this. The lowest unemployment rate was in the 1950's. Trump created fewer jobs in his three pre-COVID years than Obama created in his last three years.

Anyone can easily check these statements against the numbers and see a large gap. So that begs the question; are you lazy or are you malicious? I think you're lazy, but change my mind!

 

[Phantasmal]

Then why did Obama have the highest number of people on food stamps, welfare, and lowest employment rates in many decades while Trump's economy had record employment right up to the Corona-nonsense?

At the peak of food stamp enrollment in December 2012, a total of 47.8 million were receiving aid, an increase of nearly 16 million or 49 percent.
But then millions melted from the rolls as employment and incomes improved, and as Congress cut benefit levels, which dropped to a monthly average of around $124 per person in Obama’s final month.
Measured from his first month to his last, benefit levels and enrollment both grew less under Obama than under his predecessor.

https://www.factcheck.org/2017/09/obamas-final-numbers/

 

[T. A. Gardner]

It didn’t do poorly under Obama, that’s a Republican lie. It recovered from the Bush years and two wars.

The Obama economy never hit 3% annually. It tanked and stayed tanked.

I know my investments have done much better with Trump than Obama, as an added bit of anecdote.

 

[LV426]

At the peak of food stamp enrollment in December 2012, a total of 47.8 million were receiving aid, an increase of nearly 16 million or 49 percent.
But then millions melted from the rolls as employment and incomes improved, and as Congress cut benefit levels, which dropped to a monthly average of around $124 per person in Obama’s final month.
Measured from his first month to his last, benefit levels and enrollment both grew less under Obama than under his predecessor.

https://www.factcheck.org/2017/09/obamas-final-numbers/

Ooof, right in the future.

 

[LV426]

The Obama economy never hit 3% annually. It tanked and stayed tanked.

I never said it did.

What I said was Obama's best annual GDP growth (2.89%) was better than Trump's (2.85%), and Obama's best quarterly GDP growth (5.1%) is better than Trump's best (3.1%).

Obama's economic growth was the same as Bush's...except Obama didn't leave a destroyed economy in his wake.

I know my investments have done much better with Trump than Obama, as an added bit of anecdote.

Not sure what "investments" you have, but since the Russia Tax Cut started on 1/2/18, the DJIA has grown at its slowest pace since the last Conservative Recession.

 

[T. A. Gardner]

Did he? Are you sure about that? What do you mean "highest number"? Gross totals? A percentage of the workforce?

I believe far, far more people are on those things today, thanks to COVID, than ever during Obama.

Also, you can reduce food stamp and welfare dependency by raising wages. Remind me, who opposes raising wages?

So, even with the covid crap Trump's numbers are better.

He never had this. The lowest unemployment rate was in the 1950's. Trump created fewer jobs in his three pre-COVID years than Obama created in his last three years.

Anyone can easily check these statements against the numbers and see a large gap. So that begs the question; are you lazy or are you malicious? I think you're lazy, but change my mind!

I did check these numbers and they are as I stated.

 

[LV426]

So, even with the covid crap Trump's numbers are better.

No, what you've shown is that Obama managed to fix an economic depression caused by Conservative policy, handed it off to Trump, who has since squandered it.

I did check these numbers and they are as I stated.

So you're doing that sophist thing where you ignore context to try and make a cynical point. So saying "more people were on food stamps during Obama" is only telling half the story, isn't it? Because the part you're leaving out is that they were on food stamps because of the economic collapse caused by poor Conservative policy.

Also...that chart really starts showing food stamps leveling off, doesn't it? And it doesn't include May-August.

 

[Phantasmal]

No, what you've shown is that Obama managed to fix an economic depression caused by Conservative policy, handed it off to Trump, who has since squandered it.




So you're doing that sophist thing where you ignore context to try and make a cynical point. So saying "more people were on food stamps during Obama" is only telling half the story, isn't it? Because the part you're leaving out is that they were on food stamps because of the economic collapse caused by poor Conservative policy.

Also...that chart really starts showing food stamps leveling off, doesn't it? And it doesn't include May-August.

They just don’t get how good Obama’s recovery was. It’s beyond their reasoning abilities.

 

[LV426]

They just don’t get how good Obama’s recovery was. It’s beyond their reasoning abilities.

No, they know it was remarkable, they just don't want to give Obama credit for two reasons:

1. He's black

2. It would be a tacit admission that it was Conservatism that crashed the economy in the first place. Conservatism that was wearing Bush/Cheney shirts.

 

[Phantasmal]

No, they know it was remarkable, they just don't want to give Obama credit for two reasons:

1. He's black

2. It would be a tacit admission that it was Conservatism that crashed the economy in the first place. Conservatism that was wearing Bush/Cheney shirts.

Yeah, that’s more like it.

 

[T. A. Gardner]

No, what you've shown is that Obama managed to fix an economic depression caused by Conservative policy, handed it off to Trump, who has since squandered it.

No, I showed that the economy recovered despite Obama. just as it has in past recessions. It would have done better without the massive spending by government and the burden of excessive regulations added by his administration.

So you're doing that sophist thing where you ignore context to try and make a cynical point. So saying "more people were on food stamps during Obama" is only telling half the story, isn't it? Because the part you're leaving out is that they were on food stamps because of the economic collapse caused by poor Conservative policy.

Cynical I give you. Sophist? Hardly. Obama put a knee on the neck of the economy with government regulation. One example of that was his slow playing, foot dragging and outright opposition to new drilling and exploration permits for the energy industry. On coal, his own words speak volumes

His position was that of the Progressive Left: Wind and solar. Obama on energy was an ill-informed idiot. He cost the economy heavily in increased energy costs (remember $5.00 a gallon gasoline?). That's one example of how his heavy handed, government, top-down, we-know-best, policies enforced by ever increasing regulation was dragging the economy down.

 

[cancel2 2022]

I don’t have serious discussions with brain dead racists.

You don't have serious discussions period!

 

[Nordberg]

No, I showed that the economy recovered despite Obama. just as it has in past recessions. It would have done better without the massive spending by government and the burden of excessive regulations added by his administration.




Cynical I give you. Sophist? Hardly. Obama put a knee on the neck of the economy with government regulation. One example of that was his slow playing, foot dragging and outright opposition to new drilling and exploration permits for the energy industry. On coal, his own words speak volumes

His position was that of the Progressive Left: Wind and solar. Obama on energy was an ill-informed idiot. He cost the economy heavily in increased energy costs (remember $5.00 a gallon gasoline?). That's one example of how his heavy handed, government, top-down, we-know-best, policies enforced by ever increasing regulation was dragging the economy down.

How can you be so constantly wrong? Bush left Obama a potential 2nd great depression. Perhaps you were in grade school in 2008 and did not know the fear that economists and politicians felt. I suppose the incredible foreclosures and job losses were before your time. It was a very scary condition that Bush left Obama.
Obama saved our asses.
Regulation? Damn people still cannot understand, regulation is for the people. It stops them from unchecked pollution and corps.taking advantage. You have no power against corporations. It is the regulators who fight on your side. It is not good for you if that is gone. The Corporations do the same manufacturing whether they are stopped from poisoning us or not.

 

[cancel2 2022]

It didn’t do poorly under Obama, that’s a Republican lie. It recovered from the Bush years and two wars.

Doris has never heard about the $4 trillion of QE pump priming by the Fed, silly Dottie.

 

[Walt]

The Obama economy never hit 3% annually. It tanked and stayed tanked.

High 2% growth is not "tanked". trump tried to do better, and really didn't.

I know my investments have done much better with Trump than Obama, as an added bit of anecdote.

At this point in Obama's Presidency, the stock market had risen by 67.9%. At this point in Clinton's Presidency, the stock market had risen by 77.7%. At this point in trump's presidency, the stock market has risen by 38.4%... trump was only able to do half as well as Obama with a huge amount of direct investment from the Fed into the stock market.

 

[TexanManWithPlans]

Even if that were true, which I doubt, you are fine with it tanking our economy as long as your guy wins? It will destroy the country!

Asking the 1%ers to pay the equivalent of one more yacht payment won't hurt the economy. Lol.