Hi,
The Trump administration has been bullish about it economy, ignoring COVID. The reality is that Trump Economy had problems much like his businesses he was over leveraging.. Please read below
Unemployment
For starters the UE was low under Obama and was in the direction of going lower... Can you tell us what actual actions took to lower UE that Obama had not already done... Note: Tax Break had not evidence of doing anything good or bad to UE.
View attachment 430202
Deficit
Now lets look at borrowing... A economy who is actually doing well shouldn't need to borrow money should it? Well it shouldn't need to increase borrowing, should it...
View attachment 430205
So you can see from this graph that Trump was increasing borrowing even before the crisis. He got the deficit at $600bn and he had almost doubled it to $1.1 trillion... That is 2.4% of GDP extra over Obama in an Economy which "Best in the world ever"... In total US was set to borrow 5.6% of there GDP, so the US is pumping there economy with 5.6% borrowing. So what was the growth?
View attachment 430233
So there is no major increase in GDP even after borrowing so much more money... Actually after borrowing 5.6% and growth of only 2.5%, so if the US Government that is a loss of 3.1% after borrowing 2.4% more... And Trump was saying this was the best Economy ever.... This was remortgaging the house and going to Disneyland....
COVID
A few people use the excuse that COVID is what hurt the economy. Truth is that Trump cut the CDC pandemic response team around the world. Trump never considered a Pandemic/Epidemic as a national defence issue and best way to defend it is to work with everyone in the world together.
Trump made misstep after misstep but his response was to always downplay the virus. He never understood the basic concept, beat the virus and the economy will recover.
Because of this the strategy has been always off... Other economies understood this was a 100 year event and normal rules don't apply... You support your economy or you will get unrest.
Trump excuse seems to be like a drunk explaining everything was going great until the car crashed....
The Trump administration has been bullish about it economy, ignoring COVID. The reality is that Trump Economy had problems much like his businesses he was over leveraging.. Please read below
Unemployment
For starters the UE was low under Obama and was in the direction of going lower... Can you tell us what actual actions took to lower UE that Obama had not already done... Note: Tax Break had not evidence of doing anything good or bad to UE.
View attachment 430202
Deficit
Now lets look at borrowing... A economy who is actually doing well shouldn't need to borrow money should it? Well it shouldn't need to increase borrowing, should it...
View attachment 430205
So you can see from this graph that Trump was increasing borrowing even before the crisis. He got the deficit at $600bn and he had almost doubled it to $1.1 trillion... That is 2.4% of GDP extra over Obama in an Economy which "Best in the world ever"... In total US was set to borrow 5.6% of there GDP, so the US is pumping there economy with 5.6% borrowing. So what was the growth?
View attachment 430233
So there is no major increase in GDP even after borrowing so much more money... Actually after borrowing 5.6% and growth of only 2.5%, so if the US Government that is a loss of 3.1% after borrowing 2.4% more... And Trump was saying this was the best Economy ever.... This was remortgaging the house and going to Disneyland....
COVID
A few people use the excuse that COVID is what hurt the economy. Truth is that Trump cut the CDC pandemic response team around the world. Trump never considered a Pandemic/Epidemic as a national defence issue and best way to defend it is to work with everyone in the world together.
Trump made misstep after misstep but his response was to always downplay the virus. He never understood the basic concept, beat the virus and the economy will recover.
Because of this the strategy has been always off... Other economies understood this was a 100 year event and normal rules don't apply... You support your economy or you will get unrest.
Trump excuse seems to be like a drunk explaining everything was going great until the car crashed....