[quote=elad]
wolfd wrote:
"Those are not accomplishments."
Hahahahahaha! If you want to believe that Obama's stiffling regulations got us to 4.1% unemployment and 3% growth...you are not even worth a discussion...you are just simply a joke, too far gone.
Your reply is proof perfect that you are not able to do even the most basic research on the matter of the economy. Let's just take a look at Obama's accomplishments. The day Obama took office, the Dow closed at 7,949 points. Eight years later, the Dow had almost tripled, closing at 21,414 General Motors and Chrysler were on the brink of bankruptcy, with Ford not far behind, and their failure, along with their supply chains, would have meant the loss of millions of jobs. Obama pushed through a controversial, $8o billion bailout to save the car industry. The U.S. car industry survived, started making money again, and the entire $80 billion was paid back, with interest. While America remains vulnerable to lone-wolf attacks, no foreign terrorist organization has successfully executed a mass attack here since 9/11. Obama ordered the raid that killed Osama Bin Laden. He drew down the number of troops from 180,000 in Iraq and Afghanistan to just 15,000, and increased funding for the Department of Veterans Affairs. He launched a program called Opening Doors which, since 2010, has led to a 47 percent decline in the number of homeless veterans. He set a record 73 straight months of private-sector job growth. Due to Obama’s regulatory policies, greenhouse gas emissions decreased by 12%, production of renewable energy more than doubled, and our dependence on foreign oil was cut in half. He signed The Lilly Ledbetter Act, making it easier for women to sue employers for unequal pay. His Omnibus Public Lands Management Act designated more than 2 million acres as wilderness, creating thousands of miles of trails and protecting over 1,000 miles of rivers. He reduced the federal deficit from 9.8 percent of GDP in 2009 to 3.2 percent in 2016. For all the inadequacies of the Affordable Care Act, we seem to have forgotten that, before the ACA, you could be denied coverage for a pre-existing condition and kids could not stay on their parents’ policies up to age 26. The trends which Donald Trump is trying to take credit for have been on the same steady climb for six or more years, since Obama’s Recovery took hold. Add to this the fact that not a single Trump economic policy other than staying the Obama course has even been proposed, let alone enacted, and you can conclude that a) Obama started it, and b) Trump hasn’t stopped it yet.
It is possible that stock valuations will blip upward with all the unbudgeted cash in the vault. This is called a bubble, and companies will dump the cash into debt retirement, mergers, and automation, lest that bubble burst and bring the whole thing down. Dollars to donuts, nine out of ten of the year-end bonuses announced since passage of the tax cut are based on formulas developed a year ago, or two.
In addition, the economy has been accelerating and needs no boost. An overheated economy yields inflation. The massive new debt will put a crunch on the money supply, which raises interest rates and the temptation to print more of it, which yields inflation. Inflation with high interest rates yields recession. Trump takes credit for the recovery now. How will he pin it on Hillary when his boondoggle brings it to a grinding halt? Trump has done nothing which might even plausibly have had an immediate impact on US employment rates.