trump's economy failing; worse than Obama's last 3

hadn't participated in this thread that i remember.

trump and the economy:

1) wouldn't have had a strong year economically over all 4 years WITHOUT COVID.. partially because population growth is basically zero.

2) juiced the economy with a tax cut of which zero prominent economists approved.

3) "trump oversaw the strongest economy in american history"... "obama exported all our jobs to china".. Well, which is it? 

4) look at trump unemployment rate. it is simply a straight line from obama years.

5) japan has a very low unemployment rate.. considered a sickly economy.... again demographics.

6) unemployment rate was "fake" under Obama because labor participation rate had fallen alot. NEVER HEARD THIS ARGUMENT AGAIN after trump elected.

7) nominated a hypocritical loon for a fed reserve seat.. BIZARRE... even republican senators found her repugnant.

8) as much on R's as trump, but they claim to be the fiscally responsible party... history, including DJT term, is the EXACT OPPOSITE.

9) stock market is increasingly remote from economy. many reasons.  bifurcated too... zoom, tesla, amazon etc. doesn't not benefit the average american much.

Just 39% of Americans

would be able to cover an unexpected $1,000 expense,
according to a new report from Bankrate.com.
That's down from 41% last year saying the same last year.

Another 38% would need to borrow money, either by using a credit card or borrowing
from family to pay for a surprise cost such as a medical bill or emergency repair.

among other things this is a horrible way to exit the wh

rump runs up a $7 trillion debt in just over 3 fiscal years ,and more to come

obama ran up $9 trillion but that was spread over 8 fiscal years

Yes.  This new American Rescue Plan will be added to trump's debt total

that will raise his debt from $7 trillion to almost $9 trillion same as obama

except he not only does it in half the time but even more may b coming    

Correct.

The American Rescue Plan may not be the end of it...

Fox News isn't news. Fox is good at one thing at they are very, very good at it. PROPAGANDA. Why is the corporate owned right wing media so good at propaganda? Because it works. Lies are very effective and they know it. trump has spent a lifetime enriching himself with lies and now he's established a dictatorship using Roy Cohn and Jim Jones tactics. It works

AGREED! 

fox news is  the state network         like russia has     and china     and north korea

from usa today

?National Guard members who were in Washington, D.C., have tested positive for COVID-19, the Washington Post and Politico reported. The Post, citing unnamed Maryland soldiers, reported that "the coronavirus is raging among National Guard members" without specifying the extend of the outbreak. Three unnamed Guard sources told Politico that hundreds of members have tested positive.

No surprise here.  Close quarters when offduty and no masks.

Hopefully none of them get seriouslyt ill.

America lost a staggering 140,000 jobs
in trump's last full month in office

The US economy shed a staggering 140,000 jobs last month,
the Bureau of Labor Statistics reported — a far worse outcome than economists predicted.
The US economy is far from its pre-pandemic strength and is still down 9.8 million jobs
since February.

It took the labor market more than 5 years to recover from the job losses of the 2008
financial crisis from the previous REPUBLICAN Administration, which were LESS SEVERE!

Source: https://tinyurl.com/y6jpl2xr

2020 was the US economy's WORST year since 1946!!

AXIOS
One of the last major economic report cards of the Trump era lends perspective to the historic damage.
For the full year, the economy  shrank  by 3.5%  —
the first annual contraction since the 2008 financial crisis and the WORST DECLINE since 1946.

The bottom line: The U.S. economy remains in a deep hole and 
a full economic recovery is a long ways off.
The economy is still over $473 billion smaller than it was before the pandemic hit.

Opinion piece:
John MacIntosh was a partner at a leading global private equity firm,
where he worked in New York, Tokyo and London

"I expected the wealthy would do well under Donald Trump, but not as grotesquely well as
those of us in the top 1% have done. From the day Trump won in 2016 to the day he lost
in 2020, the stock markets were up at least $12.7 trillion, which means that the top 1%
of the 128.5 million US households -- the 1.28 million that own 51% of the stock market -
- could each have gotten richer by an average of around $5 million.

Many of us in the top 1% -- particularly those working in and around finance -- have been
paid, directly or indirectly, by taking a slice off the top of markets that have been driven
to record highs - largely by WAGE REPRESSION and socialized interest rates.

" The market (including reinvested dividends) is 26 times higher than it was in 1980
 after adjusting for inflation. MOST of those gains have gone to the top 1%. "

rumps legacy

if that line is correct we r  fcked for years no matter what biden does to help

Statistically, at last count, the official number is 6.7% UNemployment

but that number is very misleading since it DOES NOT include those who are OUT OF WORK NOW but receiving covid stimulus benefits rather than unemployment benefits.....nor does it include the large volume who left the work force due to covid and having to stay at home with a child who cannot attend school and closing of daycare centers

true        very misleading        i wanna see the effective numbers of unemployed      not just the stats from those filing for unemployment assistance

Kelly,  I've been digging around for those more reflective stats but so far can't find them.

US economy adds 49,000 jobs in January
— a grim sign for the jobs recovery

While the unemployment rate decreased, the labor force participation rate inched
down ever so slightly, too, leaving a bad aftertaste following that news.
"I'd like the unemployment rate go down while the labor force is growing,"
said Boston College economics professor Robert Murphy

The private sector as a whole only added 6,000 jobs in January, while the rest
of the increase came from jobs added in public education and government.

Since February last year, the trump's economy is still down 9.9 million jobs.

another 793000 filed for unemployment last week 

Trump's final report card

CNN BUSINESS
The January jobs report was based on data collected BEFORE disgraced former
President Donald Trump was run out of office, making it the data point that closes
the book on Trump's failed jobs record.
He is the first president since  Hoover to leave office with fewer jobs than he entered.

But even his record for his first 37 months in office wasn't as strong as Trump often claimed.
There were some 6,900 jobs added from January 2017 through February of last year.
That's better than the first 37 months in office for Presidents George W. Bush and
Barack Obama, *BUT* Obama entered office in the midst of the Great Recession and  
the economy slipped into another recession shortly after Bush took office.
Trump took office during a period of what economists consider FULL employment.

Trump's pre-pandemic job gains TRAILED the gains during the first 37 months of
Obama's second term, or his final 37 months in office. It also TRAILED gains during
the first 37 months of President Bill Clinton's or Jimmy Carter's tenure.

trump's running total on the National Debt is now $28 TRILLION and counting...

He's run up over $8 TRILLION in less than 4 years.....Obama did the same but over 2 full terms!

Although trump promised but never achieved 4% growth at anytime in his 4 years of failure,

Biden is making no such bold prediction........however, economists are now suggesting at least

4% growth this year and possibly close to  5%