Economists Credit Trump as Tailwind for U.S. Growth, Hiring and Stocks

[UsualName]

1. In terms of real dollars Obama had the largest deficit.

2. At least Reagan's spending on star wars in part caused the end of communism in the Soviet Union and the eastern block.
Plus his initiatives could help us knock down incoming missiles that Obama and Bush did not prevent from being developed.

Why did Obama have the largest deficits?

 

[UsualName]

you are giving the fed way to much credit. The fed, of course, played a critical role in allowing the crisis to occur in the first place. When it did occur, as we know, there were major bank failures and many smaller banks also failed. Because of our federal reserve system and the F.D.I.C, however, not a single mom or pop lost a dime from their savings and checking accounts; not single check bounced, even if drawn on a failed bank. And although many, especially younger home owners, lost their homes, millions more were able to stay in their homes when the fed keep variable rate loans from resetting higher, and facilitated refinancing at much lower rates. Mom and pop's retirement saving were protected and recovered in time for them to still enjoy their retirement.

Contrast that with what would have happened had the fed not reacted as they did. We'd have had a full on world depression with many seeing their retirement savings decimated to the point that they would never have recovered in time to help older and retired Americans. Now we are engaged in dismantling the safety measures put into effect after the crisis. We are still saddled with TBTF, however, and because we are going right back to the financial environment that caused the crisis, we will eventually see yet another crisis. It's fine to criticize the fed, but if you do you're obligated to suggest a better alternative to the actions they took once the crisis hit full force. We all know, in hindsight, what a better alternative would have been. Greenspan could have intervened to stop the abuses in mortgage lending.

The main concern now should be Congress not the fed. Bernanke has said that the fed's tools are not very effective in achieving the mandate Congress has imposed on it! Let us recognize that. Congress is the horse, the fed is just the cart. The fed is an all to ready scapegoat. If you want to see underlying faults you need look no further than the U.S. Congress and the fiscal side. Frankly, though the faults are shared among Republicans and Democrats, the sharing is not equal.

The Republicans are far more to blame than the Democrats. But I will give the Republicans this, they have learned how to capture the Federal government and bend it to their own selfish self-interests, and they have succeeded magnificently! They are excellent at shifting blame and false advertising. By comparison, the Democrats have been bungling idiots.

This is excellent and well thought out. Everyone on this board would benefit from reading this all the way through.

 

[Tony Stark]

1. In terms of real dollars Obama had the largest deficit.

The value and buying power of the dollar changes so % increase is a better measure.

 

[piezoe]

There has been a deficit since 2001. To argue that the deficit has decreased during any time frame is horseshit. Reminds me of an old boss that used to say "our losses are decreasing at a higher rate". If one year you are losing 200 million, and the next you are losing 180 million, you are still losing. Only an economist would claim that's a good thing, unless you can show a declining deficit for a long period of time (10 years or something).

Another gag you con artists will refer to is the deficit as a percent of GDP. That's always a hilarious statistic trick that you folks think no one has caught onto. All that simply says is "oh yeah, I can borrow a lot more if I'm bringing in more cash." Awesome if you operate on a balanced budget procedure (we don't) because you won't spend more than you bring in. But that's not the way the government works. Following that stat means governments add programs, but then once revenues decline they never get rid of the programs and we have ourselves in a larger overspend situation.

This doesn't even take into account that the government will, when convenient, change the calculation methodology of GDP!

You're a fraud.

Deficit by year.

No problem young man. Lets do it your way and compare total deficits for the entire presidency. To make this more fun lets compare the more recent democrat and Republican presidents.

 

[Tony Stark]

1. In terms of real dollars Obama had the largest deficit.

2. At least Reagan's spending on star wars in part caused the end of communism in the Soviet Union and the eastern block.
Plus his initiatives could help us knock down incoming missiles that Obama and Bush did not prevent from being developed.

Reagan nearly tripled the national debt,the only President to do so.

 

[jem]

utter baloney piezoe - Congress is not the horse. The FED does whatever the hell it wishes. Congress has no control over the FED.
For instance the FED creates and then hands out trillions of dollars without any oversight.

had the markets been allowed to reset naturally we would be on a much firmer foundation with a booming economy and the morons who greedily caused the banking crisis in the first place would no longer be running things.

you are giving the fed way to much credit. The fed, of course, played a critical role in allowing the crisis to occur in the first place. When it did occur, as we know, there were major bank failures and many smaller banks also failed. Because of our federal reserve system and the F.D.I.C, however, not a single mom or pop lost a dime from their savings and checking accounts; not single check bounced, even if drawn on a failed bank. And although many, especially younger home owners, lost their homes, millions more were able to stay in their homes when the fed keep variable rate loans from resetting higher, and facilitated refinancing at much lower rates. Mom and pop's retirement saving were protected and recovered in time for them to still enjoy their retirement.

Contrast that with what would have happened had the fed not reacted as they did. We'd have had a full on world depression with many seeing their retirement savings decimated to the point that they would never have recovered in time to help older and retired Americans. Now we are engaged in dismantling the safety measures put into effect after the crisis. We are still saddled with TBTF, however, and because we are going right back to the financial environment that caused the crisis, we will eventually see yet another crisis. It's fine to criticize the fed, but if you do you're obligated to suggest a better alternative to the actions they took once the crisis hit full force. We all know, in hindsight, what a better alternative would have been. Greenspan could have intervened to stop the abuses in mortgage lending.

The main concern now should be Congress not the fed. Bernanke has said that the fed's tools are not very effective in achieving the mandate Congress has imposed on it! Let us recognize that. Congress is the horse, the fed is just the cart. The fed is an all to ready scapegoat. If you want to see underlying faults you need look no further than the U.S. Congress and the fiscal side. Frankly, though the faults are shared among Republicans and Democrats, the sharing is not equal.

The Republicans are far more to blame than the Democrats. But I will give the Republicans this, they have learned how to capture the Federal government and bend it to their own selfish self-interests, and they have succeeded magnificently! They are excellent at shifting blame and false advertising. By comparison, the Democrats have been bungling idiots.

 

[jem]

I really wish you looked information up before you posted your dnc talking points bullshit.
Other Presidents increased the debt by much larger percentages; so Reagan was not the first president to triple the debt. Check out progressives like FDR and if I recall Wilson.


But no president had a 7.9 trillion dollar deficit like Obama.
Obama is the deficit king.

Reagan nearly tripled the national debt,the only President to do so.

 

[piezoe]

Jem your making yourself sound real dumb here sorry i like you dude but the deficit went down...... only after republicans took boith houses though....

Max, your a smart guy, so I know you are familiar with what heavy deficit spending does to GDP, particularly outside of recession. Anyway I happened of this ver interesting and highly entertaining article http://zfacts.com/p/318.html
That's where I found this cute image.

The little G.H.W.Bush video on "Voodoo Economics" is fun, and of course when G.H.W.B. teamed up with Reagan he had to lay his Voodoo remarks to"youthful indiscretion" or was it perhaps "having mis-spoke", or "golly I must have temporarily lost my mind".

 

[jem]

this is why models don't work in global warming and tax revenues. unfounded assumptions.

why don't you tell us the assumptions that are made when creating that green line.

There is no way in hell anyone in the world can tell you what the the deficit would have been as a percent of GDP because in reality is there were tax cuts. The green line is just projected off chosen inputs.

That is exactly why agw models fail. The "scientists' input climate sensitivity to carbon and project temperature. Carbons sensitivity... the key input, is just a guess.

the green line is a guess which include guesses on where the GDP would have been had there been no tax cuts. I bet the modeler choose a level of good growth rather than a continual slide into a deeper recession.

Plus I went to the site. it lied. it said tax revenues did not go up after the reagan tax cuts.
revenues went up dramatically.

Max, your a smart guy, so I know you are familiar with what heavy deficit spending does to GDP, particularly outside of recession. Anyway I happened of this ver interesting and highly entertaining article http://zfacts.com/p/318.html
That's where I found this cute image.

The little G.H.W.Bush video on "Voodoo Economics" is fun, and of course when G.H.W.B. teamed up with Reagan he had to lay his Voodoo remarks to"youthful indiscretion" or was it perhaps "having mis-spoke", or "golly I must have temporarily lost my mind".

 

[Max E.]

What would that chaRT look like if Obama had balanced its budget, what would that chart look like if democrats were not running congress during those periods, the president just signs bills that get sent to his desk, its congress who draws it all up and puts all of the spending in too it.

Your a smart guy too, why is it that when you go to every single state or province in North America, the highest Debt/GDP is almost unilaterally liberal states and provinces?

Max, your a smart guy, so I know you are familiar with what heavy deficit spending does to GDP, particularly outside of recession. Anyway I happened of this ver interesting and highly entertaining article http://zfacts.com/p/318.html
That's where I found this cute image.

The little G.H.W.Bush video on "Voodoo Economics" is fun, and of course when G.H.W.B. teamed up with Reagan he had to lay his Voodoo remarks to"youthful indiscretion" or was it perhaps "having mis-spoke", or "golly I must have temporarily lost my mind".