1 of 1- tennyson
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Here’s the verdict on that ‘terrible’ Obama economy
Guess it wasn't as terrible as some were saying ! 
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- Just Fred
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Re: Here’s the verdict on that ‘terrible’ Obama economy
Gee, who would have thought that?
Last edited by Just Fred (11/30/2016 10:15 am)
- TheLagerLad
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Re: Here’s the verdict on that ‘terrible’ Obama economy
Some statistics that came out from the Bureau of Labor Statistics earlier today. We've come along way since 2009.
I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
- Brady Bunch
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Re: Here’s the verdict on that ‘terrible’ Obama economy
By most measures, except for the stock market, the recovery after the recession has been weaker then most recent recessions.
A 12% growth in GDP is only a growth of 1.5% on average per year, I believe most recoveries after a recession average closer to 3% or higher. A 15% increase in household income over 8 years only equates to an increase of 1.75% per year. How many people would be happy with a raise of less than 2% per year? Fred, would the teachers union have accepted only a 1.75% increase in contract discussions over an 8 year period?
The economy has recovered, but it hasn't been great.
- Just Fred
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Re: Here’s the verdict on that ‘terrible’ Obama economy
Fred, would the teachers union have accepted only a 1.75% increase in contract discussions over an 8 year period?
Probably not, but it's a hypothetical question. I don't ever recall negotiating an 8 year contract. Secondly, I don't think it's always equitable to compare national statistics to a specific job in a specific location. For example, we could point to the CEO of a company getting a 25% pay increase and say, "See, the nation is lagging behind."
We should remind ourselves of these facts and figures after 4 or 8 years of a Trump administration's promise to make America great again.
- TheLagerLad
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Re: Here’s the verdict on that ‘terrible’ Obama economy
Just announced that unemployment is now down to 4.6%. 178,000 new jobs were added in November.
I always preface statements by saying presidents get too much credit when the economy is good and too much blame when economies are bad, but Trump is being handed a pretty good economy. I hope he realizes this and instead of trying to make sweeping changes to the tax code, tax rates, or financial regulations, he simply tweaks certain aspects of those in the effort that doing so may get us to higher wages for the middle and working class, and increase GDP.
I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
- TheLagerLad
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Re: Here’s the verdict on that ‘terrible’ Obama economy
One additional note from the jobs numbers this morning.
Over the last 12 months, average hourly wages have increased 2.5%
Add in the fact that inflation is incredibly low right now, this is very good news for the the American working class.
I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
- Brady Bunch
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Re: Here’s the verdict on that ‘terrible’ Obama economy
Here is a good review of the jobs report, seems pretty unbiased to me. From the article:
Donald Trump will inherit a job market that is strong, but perhaps not quite firing on all cylinders.
U.S. employers added 178,000 jobs in November, the Bureau of Labor Statistics reported Friday, and the unemployment rate fell to 4.6 percent, its lowest level in more than nine years. But other figures in the monthly report were less encouraging: Hourly earnings fell and more Americans stopped looking for work. The manufacturing sector – a focal point both during the campaign and in recent days — continued to shed jobs.
Last edited by Brady Bunch (12/02/2016 12:30 pm)
- tennyson
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Re: Here’s the verdict on that ‘terrible’ Obama economy
Brady Bunch wrote:
Here is a good review of the jobs report, seems pretty unbiased to me. From the article:
Donald Trump will inherit a job market that is strong, but perhaps not quite firing on all cylinders.
U.S. employers added 178,000 jobs in November, the Bureau of Labor Statistics reported Friday, and the unemployment rate fell to 4.6 percent, its lowest level in more than nine years. But other figures in the monthly report were less encouraging: Hourly earnings fell and more Americans stopped looking for work. The manufacturing sector – a focal point both during the campaign and in recent days — continued to shed jobs.
And in general manufacturing will continue to shed jobs. It is not so much outsourcing, but rather automation that will be the culprit.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
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