Since Liberals Ignored It, Let's Look at the Dept. of Labor-BLS Jobs Report for Last Month

[QUOTE="mikegriffith1, post: 22196301]

Uh, federal revenue has gone UP under the Trump tax cuts. So you can't blame the tax cuts for the deficit and the debt. The problem is that, even with the increase in revenue, we are spending so much money that we are still going into debt.[/QUOTE]

This is false. In the first 12 months of the tax cuts revenue was down compared to the previous 12 months


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Last edited:
The Best Tax Cut Economics can do? U.S. National Debt Clock : Real Time

Uh, federal revenue has gone UP under the Trump tax cuts. So you can't blame the tax cuts for the deficit and the debt. The problem is that, even with the increase in revenue, we are spending so much money that we are still going into debt.

This is false. In the first 12 months of the tax cuts revenue was down compared to the previous 12 months.[/QUOTE]

Actually, you're wrong. Individual receipts were up 7.9% in the first 10 months of fiscal 2018:

Opinion | Tax Revenues Are Higher

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

And, of course, you don't care that middle-income workers have seen their take-home pay rise by $60 to $250 per month, and that American companies are getting to keep up to 40% more of their profits, thanks to the Trump tax cuts.
 
The Best Tax Cut Economics can do? U.S. National Debt Clock : Real Time

Uh, federal revenue has gone UP under the Trump tax cuts. So you can't blame the tax cuts for the deficit and the debt. The problem is that, even with the increase in revenue, we are spending so much money that we are still going into debt.

If we bring spending down to just below level of revenue, we will erase the deficit and can begin paying down the debt.

As for the stock market, when Trump took office on January 20, 2017, the Dow was at 19,827. It is now at 26.424, a gain of nearly 7,000 points in just over 2 years.

'CBO reported that the budget deficit was $779 billion in fiscal year 2018, up $113 billion or 17% from 2017. The budget deficit increased from 3.5% GDP in 2017 to 3.9% GDP in 2018. Revenues fell by 0.8% GDP due in part to the Tax Act, while spending rose by 0.4% GDP. Total tax revenues in dollar terms were similar to 2017, but fell from 17.2% GDP to 16.4% GDP (0.8% GDP), below the 50-year average of 17.4%.'

Tax Cuts and Jobs Act of 2017 - Wikipedia
 
Actually, you're wrong. Individual receipts were up 7.9% in the first 10 months of fiscal 2018:

Opinion | Tax Revenues Are Higher

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

The first 10 months of FY18 only included 7 months of tax cuts and 3 moths of revenue before the tax cuts.

Using the data from this site...
Monthly Treasury Statement

Total tax revenue in CY 2017 was 3,343,634,000,000
Total tax revenue in CY 2018 was 3,330,470,000,000

That is 13,164,000,000 less in 2018 than 2017.




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196,000 jobs is a train wreck, it was while Obama was President
U3 and U6 are made up statistics by BLS. Our President has told us so.
The actual number of unemployed is 170 million Americans

Your lack of mathematical skills is frightening. Obama was starting with 10% unemployment so it was much easier to get higher numbers. You should sue U of Buffalo for their lack of education.
 
Actually, you're wrong. Individual receipts were up 7.9% in the first 10 months of fiscal 2018:

Opinion | Tax Revenues Are Higher

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

The first 10 months of FY18 only included 7 months of tax cuts and 3 moths of revenue before the tax cuts.

Using the data from this site...
Monthly Treasury Statement

Total tax revenue in CY 2017 was 3,343,634,000,000
Total tax revenue in CY 2018 was 3,330,470,000,000

That is 13,164,000,000 less in 2018 than 2017.




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Your link shows that in Feb and March of 19 revenues are higher than the same period last year? Positive trend?
 
The Best Tax Cut Economics can do? U.S. National Debt Clock : Real Time

Uh, federal revenue has gone UP under the Trump tax cuts. So you can't blame the tax cuts for the deficit and the debt. The problem is that, even with the increase in revenue, we are spending so much money that we are still going into debt.

If we bring spending down to just below level of revenue, we will erase the deficit and can begin paying down the debt.

As for the stock market, when Trump took office on January 20, 2017, the Dow was at 19,827. It is now at 26.424, a gain of nearly 7,000 points in just over 2 years.
Revenue would have been much HIGHER without the tax cuts. Revenue that would have reduced the deficit
 
The Best Tax Cut Economics can do? U.S. National Debt Clock : Real Time

Uh, federal revenue has gone UP under the Trump tax cuts. So you can't blame the tax cuts for the deficit and the debt. The problem is that, even with the increase in revenue, we are spending so much money that we are still going into debt.

If we bring spending down to just below level of revenue, we will erase the deficit and can begin paying down the debt.

As for the stock market, when Trump took office on January 20, 2017, the Dow was at 19,827. It is now at 26.424, a gain of nearly 7,000 points in just over 2 years.

'CBO reported that the budget deficit was $779 billion in fiscal year 2018, up $113 billion or 17% from 2017. The budget deficit increased from 3.5% GDP in 2017 to 3.9% GDP in 2018. Revenues fell by 0.8% GDP due in part to the Tax Act, while spending rose by 0.4% GDP. Total tax revenues in dollar terms were similar to 2017, but fell from 17.2% GDP to 16.4% GDP (0.8% GDP), below the 50-year average of 17.4%.'

Tax Cuts and Jobs Act of 2017 - Wikipedia

Now you're just lying again. Don't hand me this nonsensical percentage-of-GDP measurement. I'm talking about the actual numbers themselves, not some selective comparison that makes no sense and has no bearing on whether revenue has gone up or down. I believe we've had this discussion and I've pointed out to you the absurdity of the GDP comparison--you know, like if your boss said you weren't getting a raise this year because your salary was a larger percentage of GDP this year than it was last year; I bet you'd scream bloody murder and would point out that your salary's ratio of GDP had nothing to do with whether your pay had gone up or down.

Yes, of course the first three months of FY 2018 include the last three months of the calendar year, but the increased revenue did not only come in those months. Clearly, you didn't bother to read the Wall Street Journal Article or the Investor's Business Daily article.

And I notice you passed on commenting on the fact that middle-income American workers and American companies have seen sizable jumps in their take-home pay and profits thanks to the Trump tax cuts. But you don't care about that. You only care about how much money the government gets to take from the people who earn it.
 
Actually, you're wrong. Individual receipts were up 7.9% in the first 10 months of fiscal 2018:

Opinion | Tax Revenues Are Higher

Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily

The first 10 months of FY18 only included 7 months of tax cuts and 3 moths of revenue before the tax cuts.

Using the data from this site...
Monthly Treasury Statement

Total tax revenue in CY 2017 was 3,343,634,000,000
Total tax revenue in CY 2018 was 3,330,470,000,000

That is 13,164,000,000 less in 2018 than 2017.




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Your link shows that in Feb and March of 19 revenues are higher than the same period last year? Positive trend?

No doubt they will rise, they almost always do. Since that 1940’s revenue only fell year to year 14% of the time.

Also, keep in mind there was. 6% revenue growth between 2016 and 2017, so really the damage from the tax cuts is deeper than just the .36% loss of revenue.


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196,000 jobs is a train wreck, it was while Obama was President
U3 and U6 are made up statistics by BLS. Our President has told us so.
The actual number of unemployed is 170 million Americans

Your lack of mathematical skills is frightening. Obama was starting with 10% unemployment so it was much easier to get higher numbers. You should sue U of Buffalo for their lack of education.
Your lack of mathematical skill is astounding

Obama came into office with an economy losing 750,000 jobs a month
Trump came in with an economy gaining 250,000 jobs a month

An advantage of a million jobs a month for Trump
 
196,000 jobs is a train wreck, it was while Obama was President
U3 and U6 are made up statistics by BLS. Our President has told us so.
The actual number of unemployed is 170 million Americans

Your lack of mathematical skills is frightening. Obama was starting with 10% unemployment so it was much easier to get higher numbers. You should sue U of Buffalo for their lack of education.
Your lack of mathematical skill is astounding

Obama came into office with an economy losing 750,000 jobs a month
Trump came in with an economy gaining 250,000 jobs a month

An advantage of a million jobs a month for Trump

He spent $10trn to do so. LOL. Again your math skills are terrible. There is a smaller pool now so the growth won’t be as large. All BHO did was lower borrowing costs...once he could not do that anymore he just spent and sat on his hands.
 
We had a net loss of manufacturing jobs under Obama, which had never happened before in any previous eight-year period.
You mean aside from the previous 8 years, and the 8 years before that? There were many many 8 year periods of net loss on manufacturing. A quick look at the graph shows that
fredgraph.png


The U-6 rate stayed historically high until the last year or so of Obama's presidency, when businesses knew he would soon be replaced.
Since the U-6 only goes back to 1994, “historically high” doesn’t mean much.

Wages have risen dramatically over the last 18 months, whereas wages were stagnant/flat-lined for six of Obama's eight years--again, until businesses knew they only had less than two years until he would be out of office.
Ok so your claim is the chang in wages was not due to supply and demand, but only dislike/distrust of Obama.

when Obama took office there were about 5 unemployed for every job opening
That went to 4 unemployed for every 3 job opening when he left office,
And for the last year there have been more job openings than unemployed.

I think supply and demand explain the increase in wages pretty well. You disagree?
 
The Best Tax Cut Economics can do? U.S. National Debt Clock : Real Time

Uh, federal revenue has gone UP under the Trump tax cuts. So you can't blame the tax cuts for the deficit and the debt. The problem is that, even with the increase in revenue, we are spending so much money that we are still going into debt.

If we bring spending down to just below level of revenue, we will erase the deficit and can begin paying down the debt.

As for the stock market, when Trump took office on January 20, 2017, the Dow was at 19,827. It is now at 26.424, a gain of nearly 7,000 points in just over 2 years.

'CBO reported that the budget deficit was $779 billion in fiscal year 2018, up $113 billion or 17% from 2017. The budget deficit increased from 3.5% GDP in 2017 to 3.9% GDP in 2018. Revenues fell by 0.8% GDP due in part to the Tax Act, while spending rose by 0.4% GDP. Total tax revenues in dollar terms were similar to 2017, but fell from 17.2% GDP to 16.4% GDP (0.8% GDP), below the 50-year average of 17.4%.'

Tax Cuts and Jobs Act of 2017 - Wikipedia

Now you're just lying again. Don't hand me this nonsensical percentage-of-GDP measurement. I'm talking about the actual numbers themselves, not some selective comparison that makes no sense and has no bearing on whether revenue has gone up or down. I believe we've had this discussion and I've pointed out to you the absurdity of the GDP comparison--you know, like if your boss said you weren't getting a raise this year because your salary was a larger percentage of GDP this year than it was last year; I bet you'd scream bloody murder and would point out that your salary's ratio of GDP had nothing to do with whether your pay had gone up or down.

Yes, of course the first three months of FY 2018 include the last three months of the calendar year, but the increased revenue did not only come in those months. Clearly, you didn't bother to read the Wall Street Journal Article or the Investor's Business Daily article.

And I notice you passed on commenting on the fact that middle-income American workers and American companies have seen sizable jumps in their take-home pay and profits thanks to the Trump tax cuts. But you don't care about that. You only care about how much money the government gets to take from the people who earn it.

LOL...how can I be 'lying' when all I did was post from a Wikipedia article?

You have an iffy take on the English language.


And you appear to keep ducking my previous question:

True or false, according to the Household Survey, 201,000 less Americans were employed in March?

True or false, please?


https://www.bls.gov/news.release/empsit.a.htm
 
196,000 jobs is a train wreck, it was while Obama was President
U3 and U6 are made up statistics by BLS. Our President has told us so.
The actual number of unemployed is 170 million Americans

Your lack of mathematical skills is frightening. Obama was starting with 10% unemployment so it was much easier to get higher numbers. You should sue U of Buffalo for their lack of education.
Your lack of mathematical skill is astounding

Obama came into office with an economy losing 750,000 jobs a month
Trump came in with an economy gaining 250,000 jobs a month

An advantage of a million jobs a month for Trump

He spent $10trn to do so. LOL. Again your math skills are terrible. There is a smaller pool now so the growth won’t be as large. All BHO did was lower borrowing costs...once he could not do that anymore he just spent and sat on his hands.

How is that different than Trump and his more than 2 trillion added to the debt?


Sent from my iPhone using USMessageBoard.com
 
196,000 jobs is a train wreck, it was while Obama was President
U3 and U6 are made up statistics by BLS. Our President has told us so.
The actual number of unemployed is 170 million Americans

Your lack of mathematical skills is frightening. Obama was starting with 10% unemployment so it was much easier to get higher numbers. You should sue U of Buffalo for their lack of education.
Your lack of mathematical skill is astounding

Obama came into office with an economy losing 750,000 jobs a month
Trump came in with an economy gaining 250,000 jobs a month

An advantage of a million jobs a month for Trump

He spent $10trn to do so. LOL. Again your math skills are terrible. There is a smaller pool now so the growth won’t be as large. All BHO did was lower borrowing costs...once he could not do that anymore he just spent and sat on his hands.

How is that different than Trump and his more than 2 trillion added to the debt?


Sent from my iPhone using USMessageBoard.com

It’s for different reasons but not much different. I am Disappointed in the current administration and their lack of fiscal focus.
 
The Best Tax Cut Economics can do? U.S. National Debt Clock : Real Time

Uh, federal revenue has gone UP under the Trump tax cuts. So you can't blame the tax cuts for the deficit and the debt. The problem is that, even with the increase in revenue, we are spending so much money that we are still going into debt.

If we bring spending down to just below level of revenue, we will erase the deficit and can begin paying down the debt.

As for the stock market, when Trump took office on January 20, 2017, the Dow was at 19,827. It is now at 26.424, a gain of nearly 7,000 points in just over 2 years.

'CBO reported that the budget deficit was $779 billion in fiscal year 2018, up $113 billion or 17% from 2017. The budget deficit increased from 3.5% GDP in 2017 to 3.9% GDP in 2018. Revenues fell by 0.8% GDP due in part to the Tax Act, while spending rose by 0.4% GDP. Total tax revenues in dollar terms were similar to 2017, but fell from 17.2% GDP to 16.4% GDP (0.8% GDP), below the 50-year average of 17.4%.'

Tax Cuts and Jobs Act of 2017 - Wikipedia

Now you're just lying again. Don't hand me this nonsensical percentage-of-GDP measurement. I'm talking about the actual numbers themselves, not some selective comparison that makes no sense and has no bearing on whether revenue has gone up or down. I believe we've had this discussion and I've pointed out to you the absurdity of the GDP comparison--you know, like if your boss said you weren't getting a raise this year because your salary was a larger percentage of GDP this year than it was last year; I bet you'd scream bloody murder and would point out that your salary's ratio of GDP had nothing to do with whether your pay had gone up or down.

Yes, of course the first three months of FY 2018 include the last three months of the calendar year, but the increased revenue did not only come in those months. Clearly, you didn't bother to read the Wall Street Journal Article or the Investor's Business Daily article.

And I notice you passed on commenting on the fact that middle-income American workers and American companies have seen sizable jumps in their take-home pay and profits thanks to the Trump tax cuts. But you don't care about that. You only care about how much money the government gets to take from the people who earn it.

LOL...how can I be 'lying' when all I did was post from a Wikipedia article?

You have an iffy take on the English language.


And you appear to keep ducking my previous question:

True or false, according to the Household Survey, 201,000 less Americans were employed in March?

True or false, please?


https://www.bls.gov/news.release/empsit.a.htm

Do you mean fewer Americans? Please confirm.
 
Since liberals showed zero interest in all the good economic news for March, let's look at the Department of Larbor's Bureau of Labor Statistics (BLS) jobs report for March. Here are some key highlights:

* The economy added 196,000 new jobs, in spite of all the cold weather and snow storms, etc.

* The change in jobs for January was revised up from +311,000 to +312,000, and the change for February was revised up from +20,000 to +33,000. I bet you never heard about those revisions on CNN, MSNBC, etc., etc.

* Employment in construction rose by 16,000 jobs, and has increased by 246,000 over the past 12 months.

* Among the major worker groups, the unemployment rates were as follows: adult men (3.6 percent), adult women (3.3 percent), teenagers (12.8 percent), Whites (3.4 percent), Blacks (6.7 percent), Asians (3.1 percent), and Hispanics (4.7 percent). These are historic lows for blacks, Hispanics, and women:

Unemployment rate of women in the U.S. 1990-2018 | Timeline

Why Credit for the Decline in Black Unemployment Goes to Trump, Not Obama | People's Pundit Daily


By the way, Hispanic unemployment never dropped below 5% before October 2017. Never.

Bureau of Labor Statistics Data

* In March, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $27.70, following a 10-cent gain in February. Over the past 12 months, average hourly earnings have increased by 3.2 percent. Most of my pay raises have been 2.0-2.5%.

* Average hourly earnings of private-sector production and nonsupervisory employees increased by 6 cents to $23.24 in March.

* The U-6 unemployment rate, aka the real unemployment rate, dropped again in March and is now down to 7.3%, down from 8.1% in January.

Table A-15. Alternative measures of labor underutilization

In fact, the U-6 rate is now lower than it was in 2005 and is approaching how low it was in 1999!

U6 Unemployment Rate

U6 Unemployment Rate | Portal Seven

Please stop calling radical scum 'liberals'. They are anything but.

Our Founders were liberals, I am a liberal and you are most likely a liberal.

We believe in free speech, radical dimocrap scum do not.

We believe in the 2nd Amendment, radical dimocrap scum do not.

We believe in keeping most of what we work for, radical (you didn't build that) dimocrap scum do not.

We believe in a race-free, class-free government, radical dimocrap FILTH absolutely Do NOT.

We believe in equal justice for all, radical (Jussie Smollett) dimocrap scum do not

The furthest thing from the definition of the word 'liberal' is a dimocrap scumbag.

ALL of them. Nazis is more like what they are
 
We had a net loss of manufacturing jobs under Obama, which had never happened before in any previous eight-year period.
You mean aside from the previous 8 years, and the 8 years before that? There were many many 8 year periods of net loss on manufacturing. A quick look at the graph shows that
fredgraph.png


The U-6 rate stayed historically high until the last year or so of Obama's presidency, when businesses knew he would soon be replaced.
Since the U-6 only goes back to 1994, “historically high” doesn’t mean much.

Wages have risen dramatically over the last 18 months, whereas wages were stagnant/flat-lined for six of Obama's eight years--again, until businesses knew they only had less than two years until he would be out of office.
Ok so your claim is the chang in wages was not due to supply and demand, but only dislike/distrust of Obama.

when Obama took office there were about 5 unemployed for every job opening
That went to 4 unemployed for every 3 job opening when he left office,
And for the last year there have been more job openings than unemployed.

I think supply and demand explain the increase in wages pretty well. You disagree?

No one president had ever presided over a net loss in manufacturing jobs before Obama. I wasn't talking about any random 8-year period but 8-year periods of two presidential terms of the same president.

Can't you just put on your big boy pants and admit that the U-6 has looked much better under Trump than it did under Obama? 1994 was 25 years ago. That's a pretty long time to measure something, wouldn't you say? The fact remains that the U-6 is lower now than it ever was under Obama, that it has not been this low since 2005, and that it is approaching how low it was in 1999.

Similarly, why can't you guys just admit--sheesh, just admit the fact--that wages are doing much better under Trump than they did under Obama? This fact won't go away just because it makes you guys uncomfortable.

Oh, you really, really don't think that many businesses began to be more active in hiring and expanding during Obama's last two years precisely because they knew he would be out of office come January 2017? You don't think many businesses consider such a major factor as the business/economic views and policies of the president when deciding when and how to invest?? REALLY? I don't say this was the only factor, but I do say that for many businesses it was a huge factor.
 
Things are looking really, really good right now. We may even be seeing some unexpected life from overseas. A recession may not happen for quite a while.

Damn good.

Now, it's time to look at the exploding debt Trump allowed to get us here. This is a great sugar high, but that's the other half of this equation.
.

What?!? 'Really, really good'?

I realize that you say that you run investment accounts for people and thus have to convince them into thinking things are better then they are so they don't liquidate their portfolios and cost you tons of commission fees (and don't bother denying it - no one who truly knows investing would believe you).

But to call the present economy 'really, really good' is ridiculous.


The M2 Money Velocity is still at record lows (since the 1950's). That is TERRIBLE. That means money is not moving. and the money that is is largely from cheap debt creation. And that is NEVER good for an economy.
Velocity of M2 Money Stock

The DOW has been flat for over a year.

The fiscal deficit is out of control.
https://www.fiscal.treasury.gov/files/reports-statements/mts/mts.pdf

The POTUS is begging for even lower rates and is now talking about QE. Which is madness.
Bloomberg - Are you a robot?
How can things be 'really, really good' if Trump is asking for another round of QE?

GDP estimates are hovering under 2.5% - some, much lower. And if you know your stuff, you know that even those numbers are higher than they should be thanks to the modifications of how the GDP is measured that were put in place a few years ago.
GDPNow - Federal Reserve Bank of Atlanta
Nowcasting Report - FEDERAL RESERVE BANK of NEW YORK

The DOW is counting on a trade deal with China - which China would be idiots to do (given Trump's lousy poll numbers). I bet you a deal will be announced and upon closer inspection it will amount to almost nothing.

The employment-population ratio (a FAR better employment metric than the joke U-3) is still miles below what it was before the Great Recession.
Notice: Data not available: U.S. Bureau of Labor Statistics

The economy is stuck in one gear above stagnation...and is living on HUGE debt powered by the Fed (and fiscal deficits to an extent). That is NOT 'really, really good'.

You want to say something l
3) True or false, according to the Household Survey, 201,000 less Americans were employed in March?

True or false, please?


Employment Situation Summary Table A. Household data, seasonally adjusted
The Best Tax Cut Economics can do? U.S. National Debt Clock : Real Time

Uh, federal revenue has gone UP under the Trump tax cuts. So you can't blame the tax cuts for the deficit and the debt. The problem is that, even with the increase in revenue, we are spending so much money that we are still going into debt.

If we bring spending down to just below level of revenue, we will erase the deficit and can begin paying down the debt.

As for the stock market, when Trump took office on January 20, 2017, the Dow was at 19,827. It is now at 26.424, a gain of nearly 7,000 points in just over 2 years.

'CBO reported that the budget deficit was $779 billion in fiscal year 2018, up $113 billion or 17% from 2017. The budget deficit increased from 3.5% GDP in 2017 to 3.9% GDP in 2018. Revenues fell by 0.8% GDP due in part to the Tax Act, while spending rose by 0.4% GDP. Total tax revenues in dollar terms were similar to 2017, but fell from 17.2% GDP to 16.4% GDP (0.8% GDP), below the 50-year average of 17.4%.'

Tax Cuts and Jobs Act of 2017 - Wikipedia

Now you're just lying again. Don't hand me this nonsensical percentage-of-GDP measurement. I'm talking about the actual numbers themselves, not some selective comparison that makes no sense and has no bearing on whether revenue has gone up or down. I believe we've had this discussion and I've pointed out to you the absurdity of the GDP comparison--you know, like if your boss said you weren't getting a raise this year because your salary was a larger percentage of GDP this year than it was last year; I bet you'd scream bloody murder and would point out that your salary's ratio of GDP had nothing to do with whether your pay had gone up or down.

Yes, of course the first three months of FY 2018 include the last three months of the calendar year, but the increased revenue did not only come in those months. Clearly, you didn't bother to read the Wall Street Journal Article or the Investor's Business Daily article.

And I notice you passed on commenting on the fact that middle-income American workers and American companies have seen sizable jumps in their take-home pay and profits thanks to the Trump tax cuts. But you don't care about that. You only care about how much money the government gets to take from the people who earn it.

LOL...how can I be 'lying' when all I did was post from a Wikipedia article?

You have an iffy take on the English language.


And you appear to keep ducking my previous question:

True or false, according to the Household Survey, 201,000 less Americans were employed in March?

True or false, please?


https://www.bls.gov/news.release/empsit.a.htm
True or false, the actual change was between -795,000 and +293,000, making the published change not statistically significant? ( Statistical summary table

True or false: the actual change for the official jobs number was between +88,614 and +303,385, making it statistically significant? (CES Technical Notes)
 
<snip>Oh, you really, really don't think that many businesses began to be more active in hiring and expanding during Obama's last two years precisely because they knew he would be out of office come January 2017? You don't think many businesses consider such a major factor as the business/economic views and policies of the president when deciding when and how to invest?? REALLY? I don't say this was the only factor, but I do say that for many businesses it was a huge factor.

^^This^^ is an absolute FACT
 

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