GDP. Growth hits 4.1%

[Arcangl86]

Also, why are people having so much trouble understanding the difference between a quarterly growth in the GDP, which can vary a lot, and a annual growth in the GDP which is the actual important one. The people who said that Trump couldn't achieve 3% growth were talking about the annual growth, not quarterly.

 

[Allandavid]

It's not uncommon for a billionaire to have gone through a bankruptcy at one time or another. For example, did you know it happened to George Soros before? And liberals have absolute confidence in him.

One time....??!

 

[hislegacy]

Patience.

Patience?? It been a year and a half and it has increased.

 

[FreeinChrist]

It went great for Bush for awhile too.

 

[hislegacy]

How about Reagan?

 

[Arcangl86]

Patience?? It been a year and a half and it has increased.

For one quarter. His first year as president was something like 2.1%, which is below 3% and it's too early to even guess what this year will be.

 

[Belk]

How EXACTLY does one “ride the coat tails of what has been laid down before”

When he has undone the previous administrations executive orders, ended their regulations, reversed many of their actions and did the EXACT opposite of what was laid down before.

So your claim is that he was trying to reverse the economic trend of the Obama administration?

 

[Belk]

They said the economy would tank if Trump became POTUS.

Quote "They"

 

[Abraxos]

For one quarter. His first year as president was something like 2.1%, which is below 3% and it's too early to even guess what this year will be.

What Americans are experiencing in their economy is not a "sugar high" that those on the Left are saying, but is capital spending; and capital spending increases supply. So all those factories that Trump has pushed to stay open and have been built this quarter are only going to produce output in the next quarter - and that growth will sustain or optimistically continue to surge which Trump being the business-minded man he is going to get on top of.

It looks good for the working class Americans if they continue with this Trump agenda.

 

[wing2000]

What Americans are experiencing in their economy is not a "sugar high" that those on the Left are saying, but is capital spending; and capital spending increases supply. So all those factories that Trump has pushed to stay open and have been built this quarter are only going to produce output in the next quarter - and that growth will sustain or optimistically continue to surge which Trump being the business-minded man he is going to get on top of.

It looks good for the working class Americans if they continue with this Trump agenda.

....and the many more factories that rely on steel and aluminum to produce their product? Materials whose prices have increased 20-30 percent since Trump imposed tariffs....

Robert Miller, president and CEO of NLMK USA, said objections raised by U.S. Steel and Nucor to his bid for a waiver are “literal untruths.” He said his company, which imports huge slabs of steel from Russia, has already paid $80 million in duties and will be forced out of business if it isn’t excused from the 25 percent tariff. U.S. Steel and Nucor are two of the country’s largest steel producers.

“They ought to be ashamed of themselves,” said Miller, who employs more than 1,100 people at mills in Pennsylvania and Indiana.

https://www.washingtonpost.com/busi...9b7348cd87d_story.html?utm_term=.e491ad0731f2

To date, 20,000 waivers have been received by the US Dept of Commerce.

Your government is picking winners and many more losers.

 

[Desk trauma]

It looks good for the working class Americans if they continue with this Trump agenda.

Only if it includes something to counter what has caused 85-90% of the job losses in manufacturing and is set to do away with the majority of the jobs in the trucking industry.

 

[Veritas]

But Obama told us that the days of 3%+ GDP were OVER. I don't understand. Was he wrong?

 

[LivingWordUnity]

Also, why are people having so much trouble understanding the difference between a quarterly growth in the GDP, which can vary a lot, and a annual growth in the GDP which is the actual important one. The people who said that Trump couldn't achieve 3% growth were talking about the annual growth, not quarterly.

Instead of nitpicking, why not be happy that the economy is doing well?

 

[Veritas]

And then there's this:

http://www.latimes.com/business/hiltzik/la-fi-3percent-20170519-story.html#

If Trump thinks he can get more than 3% economic growth, he's dreaming

 

[Aryeh Jay]

Instead of nitpicking, why not be happy that the economy is doing well?

It is funny, when inflation also goes up as well; it really puts 4.1% growth in prospective.

 

[LivingWordUnity]

It is funny, when inflation also goes up as well; it really puts 4.1% growth in prospective.

Who controls the inflation rate?

 

[W2L]

Christians arguing over the economy. Gentiles seek after these things. Dont fret, God is in control.

 

[FreeinChrist]

But Obama told us that the days of 3%+ GDP were OVER. I don't understand. Was he wrong?

Where?

Since the GDP hit or went over 3% eight times in Obama's presidency, I don't believe your claim.

 

[FreeinChrist]

And then there's this:

http://www.latimes.com/business/hiltzik/la-fi-3percent-20170519-story.html#

If Trump thinks he can get more than 3% economic growth, he's dreaming

Like Trump, you may be conflating an annual GDP with a quarterly GDP rate.

 

[chuckpeterson]

"We've accomplished an economic turnaround of historic proportions," Mr. Trump remarked Friday at the White House shortly after the Commerce Department released its GDP report.

In fact, Mr. Trump didn't inherit a fixer-upper economy.

The U.S. economy just entered its 10th year of growth, a recovery that began under President Barack Obama, who inherited the Great Recession. The data show that the falling unemployment rate and gains in home values reflect the duration of the recovery, rather than any major changes made since 2017 by the Trump administration.

While Mr. Trump praised the 4.1 percent annual growth rate in the second quarter, the economy exceeded that level four times during the Obama presidency: in 2009, 2011 and twice in 2014.

In purely numerical terms, a larger shift took place in the second quarter of 2014, when the economy went from contracting by 1 percent to growing at a rate of 5.1 percent.

The current economic expansion, which began in June 2009, is now the second-longest on record -- but it is also the weakest. The GDP revisions the Commerce Department announced Friday didn't change that narrative. Annual growth has averaged just 2.2 percent since mid-2009 through the end of last year, the same as previously reported.

"One of the biggest wins in the report, and it is, indeed a big one, is that the trade deficit — very dear to my heart because we've been ripped off by the world — has dropped," Mr. Trump said Friday.

Mr. Trump is correct that a lower trade deficit spurred growth in the April-June quarter, but the reason for that isn't necessarily positive.

The president has been floating plans to slap import taxes on hundreds of billions of dollars of foreign goods, which has led to retaliatory tariffs by foreign governments on U.S. goods.

This threat of an escalating trade war has led many foreign companies to stockpile U.S. goods before any tariffs hit. That caused a temporary boost in U.S. exports, helping to fuel economic growth.

But Richard Moody, chief economist at Regions Financial, said the gains from rising U.S. exports in the second quarter will not be repeated.
https://www.cbsnews.com/news/us-gdp-growth-touted-as-historic-by-trump-is-totally-standard/

The truth will set you free but for Trump it will end his presidency during his third year in office, if not sooner