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This Lackluster Trump Economy Is Also On The Credit Card To Be Paid Back By The Middle Class With Interest

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4 minutes ago, WillFranklin said:

 

BadBreath is indoctrinated, and he thinks he has the math to prove something.

 

I shove his lies down his throat daily.

I gave him the GNP graph.

huge dip in Obamas reign ?

im still looking

Incredible though, now 160 k jobs a month is explosive growth, 200k Obama jobs was a caTastrophe

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13 minutes ago, Gavin1966 said:

I gave him the GNP graph.

huge dip in Obamas reign ?

im still looking

Incredible though, now 160 k jobs a month is explosive growth, 200k Obama jobs was a caTastrophe

 

Have you seen these 56K and 62K months earlier this year?

 

https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth

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3 hours ago, Gavin1966 said:

No mention of the 2 nd worst in history recession he inherited?

oh. Sorry, it was his fault and the rUbs got us out of it!!

amd 160k new jobs is now explosive growth?

1. The recession ended June, 2009 before anything Obama did took effect so you can give credit for the recession ending to Bush and the FED(even though the FED was partially responsible).

 

2. The LARGEST factor in the financial crisis was a law passed by Bill Clinton and the housing crisis was caused by democrats. 

 

Here's 6 years of Bush WARNING to democrats about the housing crisis:

2001

  • April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."  (2002 Budget Analytic Perspectives, pg. 142)

2002

  • May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac.  (OMB Prompt Letter to OFHEO, 5/29/02) 

2003

  • February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.  


     
  • September: Then-Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.


     
  • September: Then-House Financial Services Committee Ranking Member Barney Frank (D-MA) strongly disagrees with the Administration's assessment, saying "these two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis … The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."  (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," The New York Times, 9/11/03)   


     
  • October: Senator Thomas Carper (D-DE) refuses to acknowledge any necessity for GSE reforms, saying "if it ain't broke, don't fix it."  (Sen. Carper, Hearing of Senate Committee on Banking, Housing, and Urban Affairs, 10/16/03)


     
  • November: Then-Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk."  To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE."  (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03) 

2004

  • February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital and calls for creation of a new, world-class regulator:  "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore … should be replaced with a new strengthened regulator."  (2005 Budget Analytic Perspectives, pg. 83)


     
  • February: Then-CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted."  Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator."  (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04) 


     
  • April: Rep. Frank ignores the warnings, accusing the Administration of creating an "artificial issue."  At a speech to the Mortgage Bankers Association conference, Rep. Frank said "people tend to pay their mortgages.  I don't think we are in any remote danger here.  This focus on receivership, I think, is intended to create fears that aren't there."  ("Frank: GSE Failure A Phony Issue," American Banker, 4/21/04) 


     
  • June: Then-Treasury Deputy Secretary Samuel Bodman spotlights the risk posed by the GSEs and calls for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system.  Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs:  Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System."  (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005

  • April: Then-Secretary Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America … Half-measures will only exacerbate the risks to our financial system."  (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)


     
  • July: Then-Minority Leader Harry Reid rejects legislation reforming GSEs, "while I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ("Dems Rip New Fannie Mae Regulatory Measure," United Press International, 7/28/05)

2007

  • August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions.  Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options."  (President George W. Bush, Press Conference, the White House, 8/9/07)


     
  • August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position.  (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07) 


     
  • December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly.  So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission.  The GSE reform bill passed by the House earlier this year is a good start.  But the Senate has not acted.  And the United States Senate needs to pass this legislation soon."  (President George W. Bush, Discusses Housing, the White House, 12/6/07) 

2008

  • February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully."  (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08) 


     
  • March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac.  They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages."  (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08) 


     
  • April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac.  [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes."  (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08) 


     
  • May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.  

    • "Americans are concerned about making their mortgage payments and keeping their homes.  Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans."  (President George W. Bush, Radio Address, 5/3/08) 


       
    • "[T]he government ought to be helping creditworthy people stay in their homes.  And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac.  That reform will come with a strong, independent regulator."  (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)


       
    • "Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans."  (President George W. Bush, Radio Address, 5/31/08)

  • June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac."  (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)


     
  • July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.


     
  • September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Doddquestions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years."  (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08)

 

So ya, get your facts straight before you look stupid.

 

Oops! Too late!!!!!

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3 hours ago, Gavin1966 said:

I gave him the GNP graph.

huge dip in Obamas reign ?

im still looking

Incredible though, now 160 k jobs a month is explosive growth, 200k Obama jobs was a caTastrophe

You MORONS keep referring to jobs when Obama started with 10+% unemployment. 

 

Remember when Obama and his idiot minions said unemployment wouldn't go past 8% if we passed the stimulus? 🤣

 

Here's a tip. Economies aren't measured on job growth. 

 

Since Obama gave us the 2nd worse economic recovery since WW2 with the MOST tools, think about how much better job growth would have been with a competent president in charge. 

 

Also economies are measure in GDP, dummy. Obama-BAD

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3 hours ago, WillFranklin said:

 

BadBreath is indoctrinated, and he thinks he has the math to prove something.

 

I shove his lies down his throat daily.

That's hilarious willie. 

 

Where's that PROOF the rich paid more federal income taxes in the 1950's?

 

Oh? Then you changed it to marginal tax rates NO ONE EVER PAYS!!!!!!

 

You are the boards biggest desperate shill!!!!!

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2 hours ago, WillFranklin said:

 

Have you seen these 56K and 62K months earlier this year?

 

https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth

Poor willie. 

 

Trump has brought us the LOWEST unemployment in 50 years, basically full employment for the first time since the 90's.

 

You can't have high numbers of jobs added when EVERYONE already has a job willie!!!!! 

Quote

These are prosperous times in America. The country is plump with jobs. Out of every 100 people who want to work, more than 96 of them have jobs. This is what economists consider full employment.

 

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3 hours ago, Gavin1966 said:

My boy?

apologies but I'm a millionaire corporate guy who never voted for a dem in my life

are we looking at the same numbers?

i notice you just had a made up mind coMment, zero data

https://fred.stlouisfed.org/series/GNPC96

look to me it's been going up forever

Well, this PROVES you're a liar and a moron. 

 

You can't even read a simple graph AND you think Gross National Product is the same as Gross Domestic Product. 😂

 

Sure, you're a millionaire corporate guy. Also the queen of England? 

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48 minutes ago, DeepBreath said:

Poor willie. 

 

Trump has brought us the LOWEST unemployment in 50 years, basically full employment for the first time since the 90's.

 

You can't have high numbers of jobs added when EVERYONE already has a job willie!!!!! 

 

 

Obama brought us that.

 

Nothing noticeable has changed in the trajectory of the lowering unemployment rate since Obama took effect in 2010 and things started improving at their current rate or faster.

 

https://data.bls.gov/timeseries/LNS14000000

 

unemployment-THROUGHjuly2019.gif

 

 

 

 

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56 minutes ago, DeepBreath said:

marginal tax rates

 

It's the only data we have from the period.

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7 minutes ago, WillFranklin said:

 

Obama brought us that.

 

Nothing noticeable has changed in the trajectory of the lowering unemployment rate since Obama took effect in 2010 and things started improving at their current rate or faster.

 

https://data.bls.gov/timeseries/LNS14000000

 

unemployment-THROUGHjuly2019.gif

 

 

 

 

Yes. The noticeable difference is Obama couldn’t achieve full employment in 8 years and Trump did within a year. 

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6 minutes ago, WillFranklin said:

 

It's the only data we have from the period.

Then you admit you lied when you claimed they paid more in the 50’s. 

 

 

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13 minutes ago, DeepBreath said:

Yes. The noticeable difference is Obama couldn’t achieve full employment in 8 years and Trump did within a year. 

 

Obama started from where? Get real. Obama did all the work for Trump.

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Just now, WillFranklin said:

 

Obama started from where? Get real.

Trump did it is the POINT SHILLY WILLY... I KNOW THAT MAKES YOU FURIOUS

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1 minute ago, WillFranklin said:

 

Obama started from where? Get real.

The easiest point for job creation.... a recovery and 10% unemployment. 😂

 

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1 minute ago, DeepBreath said:

The easiest point for job creation.... a recovery and 10% unemployment. 😂

 

 

That's a long way to get to full employment from starting there. Obama headed towards full employment at a faster rate than Trump continued as it coasted across that finish line of full employment.

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Just now, WillFranklin said:

 

That's a long way to get to full employment from starting there. Obama headed towards full employment at a faster rate than Trump continued as it coasted across that finish line of full employment.

But Obama didn't get there... TRUMP DID!!!!! THAT MAKES SHILLY WILLY FURIOUS

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On 6/9/2019 at 12:30 PM, WillFranklin said:

The economy has not really improved since the last President, Obama, had 2.9% annual growth in calendar 2015 and a 441 Billion Dollar Deficit for the 2015 Fiscal year.

 

https://www.multpl.com/us-real-gdp-growth-rate/table/by-year

 

https://www.bea.gov/news/2019/initial-gross-domestic-product-4th-quarter-and-annual-2018

 

https://www.usgovernmentspending.com/federal_deficit_chart.html

 

https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=2#reqid=19&step=2&isuri=1&1921=survey

 

 

Yet we are running an annual budget deficit of over a trillion dollars now mostly due to the tax cuts for the wealthy and corporations according to the same link above. So now the difference is that even though we are not in a recession yet, we have to repay a lot more money with interest, and are not getting anything new for it.

 

Donald Trump has only achieved 2.97% annual GDP growth in calendar 2018 and is only projected to do worse.

 

Revenue was down for calendar 2018, not only when compared to what 2018 would be without the tax cuts, but also when compared to calendar 2017, a terrible result, thus the higher deficit. I proved this article correct and can do so any time in this thread if you doubt it:

 

https://www.wsj.com/articles/u-s-tax-revenue-declined-0-4-in-2018-11550084426

 

 

And if you clamor about the jobs, Trump does not outperform Obama there, in fact he is not doing as well. His two year average is lower than Obama's last two. 

 

jobs-Obama2-Trump2.png

 

And the government itself admits the the tax cuts had little effect at all on the average worker and that the revenue was even 9 Billion dollars below the already lower estimates for the first year.

 

https://crsreports.congress.gov/product/pdf/R/R45736

 

So in summary, are you willing to tell your children that they will have to repay this with interest when it is actually not as good as what we had before?

 

Do you want to tell your family members that their entitlements that they paid for will not be there fully when they need them?

 

 

 

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

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4 minutes ago, personreal said:

Judy-OLady-Phoenix68.jpg

 

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

 

Just don't sleep on your stocks.

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1 minute ago, WillFranklin said:

 

Just don't sleep on your stocks.

I don't...I wait until suckers like you sell yer stocks at the fire sale.  :)

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49 minutes ago, WillFranklin said:

 

That's a long way to get to full employment from starting there. Obama headed towards full employment at a faster rate than Trump continued as it coasted across that finish line of full employment.

Willie... If a president who actually understood economics and had the tools Obama had? They would have doubled his GDP growth and has full employment by the end of his first term.

 

Obama passed job killing and economy killing legislation and regulations.

 

The first thing Trump did was remove the regulations and legislation he could and within the first year, had better GDP growth, full employment so much so, the FEDs started jacking up those interest rates. 

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1 minute ago, personreal said:

I don't...I wait until suckers like you sell yer stocks at the fire sale.  :)

 

Like the Bush fire sale?

 

Another one's coming.

 

Got yer cash ready?

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Just now, DeepBreath said:

Willie... If a president who actually understood economics and had the tools Obama had? They would have doubled his GDP growth and has full employment by the end of his first term.

 

Obama passed job killing and economy killing legislation and regulations.

 

The first thing Trump did was remove the regulations and legislation he could and within the first year, had better GDP growth, full employment so much so, the FEDs started jacking up those interest rates. 

 

Trump's first year of GDP growth, whether you call it 2017, or 2018, is not better than 2015 in annual GDP growth.

 

Trump's GDP average, now much like Obama's second term, is also on its way DOWN.

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1 minute ago, WillFranklin said:

 

Like the Bush fire sale?

 

Another one's coming.

 

Got yer cash ready?

The dems' subprime fire sale you mean?

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