WTH_Progs?
Diamond Member
- Feb 19, 2019
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We've all heard progs suggest how the GDP under Obama compares to Trump's, and Trump's economy belongs to Obama. It's BS, they're tutting someone else's horn.
First lets look at historical data and logic, which dictates the deeper the recession the greater percentage of economic increase to follow. Think of an economy 1-10, with 10 being the best possible. The closer to 1 the greater percentage you can expect as an increase to follow. The closer to 10 the less you can expect as an increase to follow All economics work this way, in fact everything works this way. It's like a long-jumper attempting to set a new record. The greater the current record the less likely to top it,. If they manage a new record then it's only by a tiny margin.
Let's look at the GDP numbers:
2009 Obama, the GDP was -2.5%.
2010 Obama, the GDP was +2.6%. Nice. The GDP was somewhat comparable to 2008.
2011 Obama, the GDP was +1.6%. An improvement, but not by much.
2012 Obama, the GDP was +2.2%. Respectable, we're on the right path.
2013 Obama, the GDP was +1.8%. Not much, but in the right direction.
2014 Obama, the GDP was +2.5%. Better
2015 Obama, the GDP was +2.9%. Best year under Obama
2016 Obama, the GDP was +1.6%. Hmm, lost some traction right? This is where leftists suggest Trump inherited a booming economy. History and logic disproves their story.
2017 Trump, the GDP was +2.2%. An improvement. Keep in mind the stock market surged late 2016/early 2017, because Obama was leaving and Trump was in-charge.
2018 Trump, the GDP was +2.9%. Nice.
2019 Trump, first Qtr., the GDP was 3.2%. Super duper.
It's important to note the PRIMARY reason for economic growth though Obama's tenure was historically low interest rates. Rates that have risen on Trump's watch.
First lets look at historical data and logic, which dictates the deeper the recession the greater percentage of economic increase to follow. Think of an economy 1-10, with 10 being the best possible. The closer to 1 the greater percentage you can expect as an increase to follow. The closer to 10 the less you can expect as an increase to follow All economics work this way, in fact everything works this way. It's like a long-jumper attempting to set a new record. The greater the current record the less likely to top it,. If they manage a new record then it's only by a tiny margin.
Let's look at the GDP numbers:
2009 Obama, the GDP was -2.5%.
2010 Obama, the GDP was +2.6%. Nice. The GDP was somewhat comparable to 2008.
2011 Obama, the GDP was +1.6%. An improvement, but not by much.
2012 Obama, the GDP was +2.2%. Respectable, we're on the right path.
2013 Obama, the GDP was +1.8%. Not much, but in the right direction.
2014 Obama, the GDP was +2.5%. Better
2015 Obama, the GDP was +2.9%. Best year under Obama
2016 Obama, the GDP was +1.6%. Hmm, lost some traction right? This is where leftists suggest Trump inherited a booming economy. History and logic disproves their story.
2017 Trump, the GDP was +2.2%. An improvement. Keep in mind the stock market surged late 2016/early 2017, because Obama was leaving and Trump was in-charge.
2018 Trump, the GDP was +2.9%. Nice.
2019 Trump, first Qtr., the GDP was 3.2%. Super duper.
It's important to note the PRIMARY reason for economic growth though Obama's tenure was historically low interest rates. Rates that have risen on Trump's watch.