Trump's pre-pandemic economy was actually worse than Obama's last 3 years!
Obama’s last three years had better growth than Trump’s three years, according to FORBES!
from FORBES, source: https://tinyurl.com/ybt67ukp
The U.S. Bureau of Economic Analysis released its first estimate for the December quarter
and it shows the economy growing at 2.1%. For 2019 GDP growth was 2.3%, which is
down from 2.9% in 2018 and just below 2.4% in 2017, Trump’s first year in office.
Over trump's 12 quarters, only four of them have had GDP growth over 3%
and six were 2.3% or lower. And for the past three quarters, GDP growth has been
only 2.0%, 2.1% and 2.1%, respectively.
This is a far cry from Trump's early boasts of 4%, 5%, and even 6% growth if he was president.
Under Trump business investment has turned NEGATIVE the past three quarters and is
negative or essentially flat when the impact of inventory changes are taken into account.
Trump’s second half GDP growth was WEAKER THAN REPORTED!
June 2019 quarter: Increases from 2% growth to 2.8% growth
September 2019 quarter: *DECREASES* from 2.1% growth to 2.0% growth
December 2019 quarter: *DECREASES* from 2.1% growth to 1.2% growth
The trend of 2.8% growth in the June 2019 quarter to
1.2% in the December 2019 quarter is NOT POSITIVE!!
Obama’s last three years in office had growth rates of at least 2.17% and as high as 3.06%.
For Trump the high point was 2.83% in 2018
when the tax cut seems to have had the largest impact and even fell short of
Obama’s 2014 and 2015 growth rates of 3.06% and 3.05%, respectively.
In 2019 trump's adjusted growth rate was only 1.99%.
This is less than Obama’s three last years in office and less than five of his last six years
despite having both chambers in congress working against him!
(note: similar thread previously seems inaccessible now)
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