No Wonder the Economy Has Trump Spooked https://www.newyorker.com/news/our-...d4be3&cndid=26099613&esrc=&utm_term=TNY_Daily
You can't keep spending more than you make. It's simple economics. When his tax cuts get repealed - and they will - it will tank the market and create another recession.
Chinese tariffs was just a ruse to get Chinese to give him a good rate on the mortgage loan for Greenland acquisition. Giddy up
we've already seen this, Trump's financial ties w China, being played out http://bbs.clutchfans.net/index.php?threads/2019-hong-kong-protest.300840/page-6 perhaps Wilbur Ross' wink and nod [that the HK protest is an internal matter] intended for China was triggered by the below-described developments---impacting the Trump org and its business partner---in Indonesia on Tue, Fredo Trump met w Trump Organization's business partner in Indonesia, billionaire Hary Tanoesoedibjo, a media and real estate baron and vocal Trump supporter who attended the president's inauguration, in connection w the construction of a resort on the island of Bali and a golf course and resort in the forests of West Java, south of Jakarta. The Trump Organization plans to manage the resorts and has licensed the president's name for the projects. Hary's other project involves building a theme park near the Trump resort, It has been reported that both multi-billion $ projects are being financed by a Chinese state-owned bank. https://www.straitstimes.com/asia/s...ums-up-interest-in-indonesian-resort-projects
What is sad is that during a economic boom that we've experienced for the past 5 years, tax revenue is supposed to increase and the deficit should shrink. During reccesions, is when the federal government spends more money to stimulate the economy and where you expect to see deficits grow. It's the reverse under the GOP and their **** tax bill so when we do fall into a reccesion, the federal government is less equiped to alleviate recession woes because they were running a massive deficit during the boom.
Really? But I was under the impression that we haven't run trade surpluses in a long while.. Edit: I guess I see what you are saying but it is still disingenuous because the deficits were artificially boosted when Obama came on with the bank relief. From what I have googled before, there isn't a great correlation with regards to deficits and political parties. Let's not deceive ourselves.
I'm not reffering to a trade surplus. I'm reffering to the deficit shrinking. Trade surplus is a private sector thing. I'm referring to federal spending.
I edited my response above (sorry, clumsy way to reply/talk). In this chart it appears that deficit remained unchanged from 2008 to 2016. So there is that
You have to apply context. Democrat adminstrations don't increase deficit spending when the economy is in a economic boom. Pretty much any respectable economist understands that during s reccesion, deficit spending increases. And Obama became president like a month before one of the biggest economic crashes in American history. There should be no logical reason why deficit spending should increase during a boom.
I don't disagree, I am just saying that neither party cares about this all that much. Obama overall had GDP increase through his tenure, but deficit remained unchanged during the same time frame. Trump is currently on a worse trajectory. So let's get him out of office and become fiscally responsible. I'm all in
I'm talking about period before recession started (2008) to when Obama left office (2015-2016). GDP growth is through the roof during that period but deficit is unchanged and the debt increase itself is huge.
So just erase all context of one of the worst crashes in American history literally a month after he was inaugurated. You do know what happens when the country goes into a deep crash and reccesion right? More people filing for unemployment, food stamps etc. The fact that the deficit is increasing when the unemployment rate is at 4% is absurd.
And you seem to be ignoring the fact that GDP took a slight dip for a year or two and then for ~90% of the time Obama was presiding over a big boom. And despite that was able to rack up trillions upon trillions of debt. Both Obama and Trump are fiscal populist in terms of their agendas. I'm not an economist - please direct me to a good source of economic analysis that says that what Trump is doing is much much worse than what Obama was doing.