Economy: Trend Lines Debunk Obama’s Me Too Spin!!

Posted by Tina

You know it had to happen because President Obama’s claim, that the booming economy was just the continuation of an ongoing trend, was ridiculous. A group of economy geeks decided to test Obama’s theory…the result is not good news for Obama but more importantly, it confirms that tax cuts and sensible regulation work.

Democrats have been laughing at the idea that tax cuts work to create prosperity for decades…they laughed at Reagan and derided his supply-side plan as “trickle down economics”. Even GHW Bush jumped on the bandwagon. He called the cuts Voodoo economics even though he was old enough to know it worked very well under JFK in the nineteen sixties! GHWB made a huge mistake, but then, he was running for president and the alphabet channels were in control of the narrative then and firmly in the pockets of Democrats. GHWB lost that election.

Conservative Treehouse posted the video of Kevin Hassett, Chairman of the Council Of Economic Advisers, who presents and explains a series of charts that show definitively that President Donald Trump (and Congress) deserve the credit for our booming economy. The tax cuts they passed allow Americans to keep more of what they earn and to find good paying jobs Tax cuts create an atmosphere of confidence in the future.

Chairman Hassett predicted this boom would happen…now he’s sharing the facts that prove it is about the Trump tax cuts:

Kevin Hasset described former President Obama’s notion “laughable” and presented a series of intuitive trend charts showing how Obama’s economic trend was downward. The election of President Trump resulted in a “statistically significant” upward deviation and inflection in the graphic trends charts.

Mr. Hasset cogently goes through ISM Purchasing Managers’ index, durable goods, capital spending, employment and other statistics before and after Trump’s election date to display how ‘America First’ MAGAnomic policy has reversed years of poor economic performance.

MAGA…if we want it to continue we must give President Trump a House and Senate he can count on to further his agenda for our economy…VOTE

What’s next? Another tax plan…part 2 if you will.

This entry was posted in Business and Industry, Liberty, Tax Policy. Bookmark the permalink.

15 Responses to Economy: Trend Lines Debunk Obama’s Me Too Spin!!

  1. J. Soden says:

    So here comes Obumble back to pounding the podium. Same old, same old. Some might say he’s addicted to either the podium or the teleprompter . . . .
    Not surprising that the person who won the Biggest Liar award for a record 8 straight years is back and trying to rewrite his own history of FAILURE! And his Big Speech in Chicago where he got a laughable award for Ethics in Goofernment and his next big performance in Taxifornia (where he had all of 750 attendees – all they could scrape up at the time) was the same pile of bilge and hot air.
    Obumble claims he’s out now to help Demwits win in November. And many are cringing about sharing the same stage with Obumble’s podium, especially with the high doses of arrogance he’ll spread.
    Take a tip from TheDonald and catch up on your sleep when Obumble speaks!

    • Tina says:

      A venue that holds 7500 and he wasn’t able to attract more than 750 says a lot. Before his lousy eight years he would have filled that and more with his symbolic (empty) rhetoric and lofty (arrogant) demeanor…I’m guessing more than a few people are disappointed and turned off.

  2. Libby says:

    “… President Obama’s claim, that the booming economy was just the continuation of an ongoing trend, was ridiculous.”

    No, it was the truth. And, as is also confirmed the truth on a daily basis, “somebody” has no regard for the truth at all:

    “Council of Economic Advisers Chairman Kevin Hassett suggested that blamed “somebody” for “adding a zero” in economic numbers that made their way to President Trump, who incorrectly claimed in a tweet this morning that the GDP rate is higher than the unemployment rate for the fist time in 100 years.”

    https://www.cnn.com/politics/live-news/white-house-press-briefing-09-10-18/h_87cf04f594ab41ca74c44013c9932c3d

    Furthermore, we will not know for some time how much fraud and pollution Trump-era deregulation causes, and/or just how severely our deficit-ridden government drags on the economy.

    It was, inarguably, Republican economic policy that fomented The Great Recession … but do they learn? No. Greed conquers all intellectual processing.

    • Tina says:

      “No, it was the truth”

      You didn’t watch the video did you, Libby!

      “…Chairman Kevin Hassett suggested that blamed “somebody” for “adding a zero” in economic numbers that made their way to President Trump…”

      Huh? CNN doesn’t communicate well either.

      ” we will not know for some time how much fraud and pollution Trump-era deregulation causes”

      Well it won’t take that long for you lefties to make something up.

      “…or just how severely our deficit-ridden government drags on the economy.”

      Yeah it’s a dang shame about deficit spending but then you don’t really have a leg to stand on there. Spending cuts are never real cuts in spending. All they ever do is cut the amount of projected increase in spending.

      Since the social programs Democrats passed years ago (MCARE-SS) are untouchable this argument is useless. They represent the real drag because they are the drivers of our debt. Our government (either side) doesn’t want to face the problem or fix it.

      “It was, inarguably, Republican economic policy that fomented The Great Recession ”

      A damn lie. I have produced evidence to the contrary, including Barnie Franks years long refusal to heed the warnings of GWB to address the growing financial problem many times. I have posted evidence of a policy put in place by Carter and expanded under Bill Clinton that ENCOURAGED the making of bad loans and the later bundling of those loans. Left idiots in congress didn’t think their policy through, didn’t consider the financial problem they were creating…were too frigging dumb and irresponsible to give a rats butt about the problems downstream. All they cared about was getting poor minorities into houses so they could “feel” equal…a social justice solution that exploited the minority community!!! The inevitable borrowing frenzy throughout the nation should have been predicted…free money is a magnet!

      IT IS YOU WHO NEVER LEARNS

      Perhaps you are so busy thinking you’re an “intellectual” that you can’t apply simple common sense.

      • Libby says:

        “I have posted evidence of a policy put in place by Carter and expanded under Bill Clinton ….”

        No evidence, Tina … partisan horsepucky. The deregulation of lending practices is REPUBLICAN policy to the core. You can fault Clinton for going on with it, but that’s all. And the kicker … the packaging of bad loans into securities, thereby compounding the risk, getting both the borrowers of the money and the buyers of the securities into yet deeper doo-doo … is most POSITIVELY REPUBLICAN POLICY … the epitome of greed.

        You can do your Queen of Denial all you like … changes nothing.

        • Pie Guevara says:

          You have to admit, when Lippy lies, she always makes it a big fat lie. Republican “policy” my ***.

          In reality, the crisis was caused by numerous economic factors with lots of blame to go around, both in the private sector and government quarters.

          But Lipschitz wants to fantasy blame Republican “policy” in her twisted, half-baked little world of uber pinheads. What a goon. What a fool. What a maroon. What a perfect leftist stooge.

        • Tina says:

          The deregulation of lending practices is REPUBLICAN policy to the core.

          Oh really? Cite the policy…cite the Republican.

          CNS News, “Carter-Era Housing Policies Helped Spark Sub-Prime Crisis, Expert Says”

          The Community Reinvestment Act (CRA) – a Carter-era policy that requires federal financial supervisory agencies to encourage banks to grant loans to people with low income and little credit – played a major role in sparking the sub-prime mortgage crisis the nation now faces, according to economist Russell Roberts, who spoke at a forum on the issue Thursday at the Hudson Institute.

          “I see the [current financial] mess as an example of the government’s attempt to engineer housing outcomes,” said Roberts, an economics professor at George Mason University. “People spend other people’s money much less carefully than they spend their own.” …

          …“We created an unsustainable system where banks are expected to be charitable,” said Roberts, noting the fact that the federal government encouraged banks and lending agencies to make loans that they otherwise likely would not have made.

          “Banks are designed to be businesses and make money, and charities are designed to be charities,” he said.

          “If we want to reach social goals, I would argue we should do it through charity instead of explicit government subsidy,” said Roberts.

          On Oct. 1, Sen. Richard Shelby (R-Ala.), ranking Republican on the Senate Banking Committee, spoke on the Senate floor in opposition to the $700 billion financial bailout. In his remarks, he addressed the Community Reinvestment Act.

          “In 1995, I opposed the expansion of the Community Reinvestment Act,” said Shelby. “I did not take this position because I am against lending to minorities or low-income individuals. My concerns were based on the simple fact that credit can not be safely extended on any basis other than risk, and risk can not be mitigated through social engineering.

          “The appropriate allocation of credit is not political, it is based on merit. Those with good credit receive the best terms and lowest rates. Those with bad credit receive the worst terms and the highest rates, or in some cases, no credit at all,” he said.

          “The CRA was an attempt to get around this fact and it failed. I remind my colleagues of this as we prepare to buy assets backed by the very same mortgages born of this flawed policy,” Shelby added.

          “Mr. President, I find it ironic that many of those who supported the legislation that upended the basic concept of risk-based lending are now saying that our present circumstances are an indication that the free market failed,” he said. “Federal policy, not free market decisions, fueled risky loans to unqualified borrowers.”

          You Tube – Bush and McCain warned starting in 2002 of problem at Fannie and Freddie that needed to be regulated. Greenspan also weighed in. Barnie Frank and Chuck Schummer defended it and blocked Republican bills to fix it.

          Investors, “New Study Finds CRA ‘Clearly’ Did Lead To Risky Lending”

          …a new study by the respected National Bureau of Economic Research finds, “Yes, it did. We find that adherence to that act led to riskier lending by banks.”

          Added NBER: “There is a clear pattern of increased defaults for loans made by these banks in quarters around the (CRA) exam. Moreover, the effects are larger for loans made within CRA tracts,” or predominantly low-income and minority areas.

          To satisfy CRA examiners, “flexible” lending by large banks rose an average 5% and those loans defaulted about 15% more often, the 43-page study found.

          The strongest link between CRA lending and defaults took place in the runup to the crisis — 2004 to 2006 — when banks rapidly sold CRA mortgages for securitization by Fannie Mae and Freddie Mac and Wall Street.

          Then watch the following all the way through: You Tube, “How The Democrats Caused The Financial Crisis: Starring Bill Clinton’s HUD Secretary Andrew Cuomo And Barack Obama…” Accorn and community organizer BO were involved in getting the lending requirements lowered…eventually the borrower didn’t even have to have a job! Obama admits the error on this video!

          Politico, “Boehner wants Justice Department probe of Fannie and Freddie”

          Take, too, the example of the Department of Justice’s former Deputy Attorney General (DAG), Jamie S. Gorelick. While serving as the Clinton Administration’s DAG, Ms. Gorelick actively promoted Community Reinvestment Act enforcement that pressured lenders to make risky loans to borrowers who did not meet sound lending standards. These loans often found their way into Fannie Mae’s mortgage-backed securities offerings. After completing her tenure at Justice, Ms. Gorelick went on to become vice chairwoman of Fannie Mae – a position for which she had no obvious previous training or experience; indeed she had had no prior experience at all in finance. She served at Fannie Mae from 1997 to 2003, alongside former Clinton Administration official and Fannie Mae chairman Franklin Raines.

          Troublingly, during that period, Fannie Mae developed a $10 billion accounting scandal. Yet, according to the Wall Street Journal, a May 2006 Report of the Special Examination of Fannie Mae shows that Ms. Gorelick earned $26,466,834.00 from 1998 to 2003. Along the way, Ms. Gorelick and other Fannie Mae officials also happened to obtain preferential loans from Countrywide Financial Corp., the Nation’s largest mortgage lender.

          All Democrat, all the time…greed…you bet…look in the mirror Libby and tell the truth. You have no evidence of Republican policy involvement! There is a lot of evidence of Democrat organizing and managing for social justice…translates to power and votes…and opportunities to get money without producing anything!

    • Tina says:

      “Greed”

      After producing nothing but self congratulatory memoirs both Obama and the Clinton’s went from being paupers to multi-millionaires.

      Greed? Yeah…it exists everywhere. The thing is, some folks actually produce something useful and produce a lot of jobs in the process…and then there’s the politician/activist. When they create housing crashes, poverty, destroyed industries and business and a declining middle class it’s hard to think of their riches as anything but greed.

  3. J. Soden says:

    https://dailycaller.com/2018/09/11/report-nonprofits-money-dem-governors-global-warming/
    The big summit starts in SF on Wednesday. Attendees will be treated to poop and used needles/syringes in the streets, endless panhandling and participate in a grand tour of homeless enclaves.

    • Tina says:

      OH…so that’s why they recently did the big cleanup campaign in SF! Can’t have people who want to clean up the planet stepping in poop! They spent $53.7 million!

      Also set up a few of those open urinals…Yuck.

      How do they get away with that in this age of the “powerful women” who b**ch about everything men have that they don’t?

      And what good is cleaning up at great expense when thee streets will just be filthy again?

  4. Libby says:

    “Huh? CNN doesn’t communicate well either.”

    Hmmm, you’re right there, but Hassett goes on with his feeble explanation for untruthfulness:

    “I don’t know the whole chain of command,” Hassett offered, “but what is true is that it’s the highest in 10 years. And at some point, somebody probably conveyed it to him, adding a zero to that, and they shouldn’t have done that.”

    But to Hassett’s credit:

    “I prefer to give blame or credit to policies than individuals,” he said, noting that it was “not fair” that Obama was criticized for the great recession which started before his term.”

    So, are you gonna quit doing it?

    In my dreams.

    • Tina says:

      I don’t blame Obama for the recession. That ended in Spring 2009. I fault him with enacting policies that led to a lousy recovery…he EARNED that evaluation.

      Sometimes I think you either don’t bother to get what I post, relying on your s#*t attitude instead, or you are just ill-prepared to understand how this stuff works, even at the most rudimentary level.

      If the former, there’s no hope at all. You are just being stubborn, partisan and possibly embarrassed and defensive. If the latter there’s hope but only if you drop the attitude (surrender) and allow the facts, and not your emotions, to inform.

  5. Pie Guevara says:

    Now this is interesting …

    Did France’s Gun Control Hurt Its Resistance to the Nazis?

    “Gun control is not inherently a tool of oppression, but it is certainly useful to oppressors. And those who scoff at the notion that civilian gun owners can aid the fight against tyranny would do well to consider the evidence that Halbrook has marshalled here.”

    Some folks who visit these pages may get the concept. The usual Marxist gang of fools will not. The Nazi’s did take everything from Jews and other such undesirables, but first they took their guns which made it much easier to take their lives in the millions later when herding them to death camps. That wonderful Stalin did similar.

  6. Jacob Proue says:

    This article doesn’t show any charts proving the economy was the result of Trump… It links to a single month of 4.1% growth, which Obama hit 5 times. Is there any evidence that the growth is in fact the result of Trump?

    • Tina says:

      Thanks for the great question Jacob. I hope the following will link will be of some assistance.

      A Wall Street Journal chart shows the gradual rise suddenly surging upward after Trump was elected. The immediate surge is not indicative of growth from the tax cuts but of business owners and investors anticipating the positive effect Trump policies will have. Genuine enthusiasm. The surge continued upward as a result of tax policy and ridding the system of ridiculous, costly regulation. The task ahead is to sustain a higher level of growth. As we’ve all seen unexpected events such as several natural disasters, a major attack on our soil, or an aggressive federal reserve can negatively impact growth. No president has control over those types of things.

      A chart featured at Politicususa has a visual showing the 4 quarters when Obama reached 5.1%, 4.9%, 4.7%, and 4.5% in the years 2014, 2014, 2011, and 2009 according to the Bureau of Economic Analysis. The information also demonstrates these highs were blips in terms of real growth. This article is from a left wing perspective (MSNBC). It does give a simple explanation of GDP :

      GDP is basically the total value of everything produced by everybody and every company in the country. It’s a big scorecard of the country’s economy. … The annual GDP growth rate never broke 3% under President Obama.

      The average annual growth rate under Obama was 1.48%, the weakest of any expansion period since at least 1949. The chart at Money-CNN shows that during Obama’s two terms every yearly average was under 3%.

      Another article published at CNN in July 2018 pointed out that the US economy grew at a 4.1% annual rate in the second quarter of the year (average of previous 4 quarters):

      Presidents usually get too much blame when the economy is doing badly, since downturns are often caused by outside shocks or cyclical factors, but that also gives them a chance to crow when things are going full steam ahead. … Friday’s announcement that the economy grew at a 4.1% pace in the second quarter, the best showing since 2014, is genuine cause for celebration. … It may also be his best chance to argue that a huge and controversial tax cut, the only really significant legislation he has managed to pass, is — as he said it would — unleashing prosperity. … Unemployment is lower than it has been for decades, corporate earnings are strong .

      Investors reports that small businesses, America’s largest employer group, are growing from Trump policies:

      Small businesses are the engine of our economic boom and they are thriving because of the policies of President Donald J. Trump. The tax cuts helped, and small businesses have seen reductions in regulations and red tape over the last 18 months, which has allowed many small businesses to expand and thrive.

      The numbers are astonishing. Nearly 3 million jobs have been created since President Trump took office, including 304,000 manufacturing jobs and 337,000 construction jobs. The unemployment rate is down to the lowest rate since 2000 at 3.8% with job openings reaching 6.6 million, the highest level recorded.

      Gallup polled and found that over 50% of the American people believe it is a good time to find a quality job – the highest number since Gallup started asking the question. The booming small business economy is a big part of the overall U.S. economic recovery.

      Charts can be manipulated in the same way that news stories can be manipulated by cherry picking data and spinning it positively or negatively. The best way to measure contradicting news is to make some observations yourself. Most of the news on CNN, ABC, CBS, MSNBC and in papers like the New York Times and the Washington Post are negative toward Trump. Our media plays politics instead of informing the people. One news watching organization found 95% of stories were negative toward Trump by these major networks.

      Most Americans just want truthful reporting. We need stability and opportunity. Our government and news organizations often seem to be working against us in that regard.

      I was in business for thirty years, manufacturing, and I can tell you, being jerked around by changes in government policy, whether taxes or regulation, made it very difficult to plan ahead and secure the cash for expansion or hiring.

      Thanks again Jacob.

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