cnn says trump deserves some credit

[Truthfrees]

stephen collinson says trump deserves some credit for the economy doing well

The economy is doing well and Trump deserves some credit - CNNPolitics

 

[mukk_in]

He probably deserves quite a bit of credit for that.

 

[TLK Valentine]

In all fairness, the Economy was doing well before Donald took office, but his efforts did turn "well" into "even better." The issue is how it was done.

The article notes that Donald's only significant legislation on this front has been his tax cut... but tax cuts aren't usually done when the economy is already good, they're done when the economy is in trouble, in order to inject some cash into the system... a shot of adrenaline for a weak heartbeat, as it were... not recommended for an already healthy heart.

Donald's artificially inflated the economy... and it's not going to be pretty when it goes bust.

 

[GoldenBoy89]

Sure he gets some credit.

But helping an improving economy isn't the same as saving a collapsing one.

 

[ThatRobGuy]

In all fairness, the Economy was doing well before Donald took office, but his efforts did turn "well" into "even better." The issue is how it was done.

The article notes that Donald's only significant legislation on this front has been his tax cut... but tax cuts aren't usually done when the economy is already good, they're done when the economy is in trouble, in order to inject some cash into the system... a shot of adrenaline for a weak heartbeat, as it were... not recommended for an already healthy heart.

Donald's artificially inflated the economy... and it's not going to be pretty when it goes bust.

Very well stated...

This seems to be the pattern of conservative economics. Democrats put policies in place that start the trajectory of economic recovery, a republican will take office toward the beginning of the upward trend, typically will push through tax cuts and/or reduce safety nets, and people who aren't necessarily "into" economics will often falsely credit said tax cuts and safety net reductions for the upturn...when when those measure come home to roost and the economy goes down again, they lay the blame at the feet of the next democrat to take office, then the cycle repeats.

 

[NightHawkeye]

Very well stated...

This seems to be the pattern of conservative economics. Democrats put policies in place that start the trajectory of economic recovery, a republican will take office toward the beginning of the upward trend, typically will push through tax cuts and/or reduce safety nets, and people who aren't necessarily "into" economics will often falsely credit said tax cuts and safety net reductions for the upturn...when when those measure come home to roost and the economy goes down again, they lay the blame at the feet of the next democrat to take office, then the cycle repeats.

Yeah ... No.

I remember well Jimmy Carter's failed economy. It took Reagan a couple of years to turn it around ... although we're still feeling the effects of Jimmy Carter's failed foreign policy which gave us the mullahs of Iran.

 

[iluvatar5150]

Yeah ... No.

I remember well Jimmy Carter's failed economy. It took Reagan a couple of years to turn it around ...

Yeah, except those economic problems largely preceded Carter. And it was Carter who appointed Paul Volcker, who ultimately broke inflation.

 

[NightHawkeye]

Yeah, except those economic problems largely preceded Carter. And it was Carter who appointed Paul Volcker, who ultimately broke inflation.

Regardless, Carter was president for but four years. His policies, both national and international are widely regarded as failures (especially respect for rabbits). Reagan was president for eight years. Reagan's policies are widely regarded as successful.

 

[iluvatar5150]

Regardless, Carter was president for but four years. His policies, both national and international are widely regarded as failures (especially respect for rabbits). Reagan was president for eight years. Reagan's policies are widely regarded as successful.

The discussion was about credit not being assigned properly. How policies are regarded is an outcome of improperly-assigned credit, not a rebuttal to it.

 

[ThatRobGuy]

Yeah ... No.

I remember well Jimmy Carter's failed economy. It took Reagan a couple of years to turn it around ... although we're still feeling the effects of Jimmy Carter's failed foreign policy which gave us the mullahs of Iran.

I'm speaking of my time on the planet lol (which may be shorter than others). I was born in 83...I wasn't alive for anything carter-related.

My time has seen the issues with the George HW Bush policies, Bill Clinton having to play cleanup, followed by George 2 squandering what surplus was there, and squandering money we didn't have on wars we had no business fighting, then Obama being left with a deficit that was already in an upward trajectory when he entered office (that he got inaccurately blamed for).

That's been my experience thus far...

 

[ThatRobGuy]

Reagan was president for eight years. Reagan's policies are widely regarded as successful.

I don't know if I'd say "widely regarded"...I think the topic of "Reaganomics" is still a hotly debated issue...

Would Reaganomics Work Today?

From the article, it would appear there were some positives and negatives...

Did It Work?
President Reagan delivered on each of his four major policy objectives, although not to the extent that he and his supporters had hoped. That's according to William A. Niskanen, a founder of Reaganomics. Niskanen belonged to Reagan's Council of Economic Advisers from 1981 to 1985. Inflation was tamed, but it was thanks to monetary policy, not fiscal policy. Reagan's tax cuts did end the recession.


But government spending wasn't lowered, just shifted from domestic programs to defense. The result? The federal debt almost tripled, from $997 billion in 1981 to $2.857 trillion in 1989.

Tax Cuts. Reagan cut tax rates enough to stimulate consumer demand. By Reagan's last year in office, the top income tax rate was 28 percent for single people making $18,550 or more. Anyone making less paid no taxes at all. That was much less than the 1980 top tax rate of 70 percent for individuals earning $108,000 or more. Reagan indexed the tax brackets for inflation.

Reagan offset these tax cuts with tax increases elsewhere. He raised Social Security payroll taxes and some excise taxes. He also cut several deductions.

Reagan cut the corporate tax rate from 46 percent to 40 percent. But the effect of this break was unclear. Reagan changed the tax treatment of many new investments. The complexity meant that the overall results of his corporate tax changes couldn't be measured.

Reduce Regulations. In 1981, Reagan eliminated the Nixon-era price controls on domestic oil and gas. They constrained the free-market equilibrium that would have prevented inflation. Reagan also deregulated cable TV, long-distance telephone service, interstate bus service, and ocean shipping. He eased bank regulations, but that helped create the Savings and Loan Crisis in 1989.