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Trump Domestic Policy - Budgets, etc


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  • 2 weeks later...

http://www.newsmax.com/Newsfront/mick-mulvaney-3-percent-gdp-growth-economy/2017/09/29/id/816611/

 

3% GDP Goal reached early per the administration.    However, what are the policies that have been enacted that led to that 3% goal.  I can't think of one - maybe someone else has ideas on how the admin has helped the economy to grow to that point.  I know the GDP never reached 3% under Obama and I doubt any executive orders or legislation caused it to reach that level in the less than one year that Trump has been president.

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It's clear there hasn't been any major legislation that has been passed to affect the economy.

 

What they are going to hang their hat on is all the executive orders he signed cutting regulations.

 

I find it frustrating (and funny at the same time) that the Republicans thought Obama was such a tyrant because he used so many executive orders.......now they love them.

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We have an aging population with growing costs.  I'm in that near retirement stage myself.  While the repubs might rightfully say it is a cut in the growth of these programs what is not accounted for is the growth of inflation. Inflation as measured today is kept artificially low - thus reducing any CPI increases given to Soc Sec recipients.   While inflation is reported low, it feels like a different story at the grocery store.  It cost my wife and I more per week for fewer groceries now than it did 20 years ago when we had our two sons in our home, who eat like their dad- yuge. 

 

I have some concerns about the potential pain that might be felt wt this budget deal.  We are talking about large cuts to pay for tax cuts while at the same time we are sabre rattling.   A decade ago that was prescrib for disaster as GWB cut taxes AND raged 2 wars.   Do we need a modern military to meet the threats in our modern world - yes.  But it is time to make some drastic cuts in our overseas operations so that it isn't the domestic area that takes the brunt of this budget deal.  Germany, Japan and yes SK have economies that could and should fully support their own military protection. The same is true wt Saudi Arabia, Israel and other MidEast countries.  While I understand we don't want the world to go to hell while we turn inward, it is time to give minimal 'umbrella' support to these countries and close our bases and bring that funding home to fund needed programs here. 

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31 minutes ago, BigRedBuster said:

This is something that's very interesting to me and something that is very important to pay attention to.

 

 

I'm not sure what to take away from that other than that Trump hasn't been in office long enough to have enough of a sample size.

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9 minutes ago, RedDenver said:

I'm not sure what to take away from that other than that Trump hasn't been in office long enough to have enough of a sample size.

Very very true.  And, that's why I didn't express some great wisdom I gleaned from the graphs.

But, I hope they maintain these and post them from time to time.

 

For the most part, so far it appears nothing has changed economically from the trends that were already happening.  But, that's what I would expect with less than one year in office.

 

But....as we all know......the great orange man is bragging about how he has made the economy take off and roar.  

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On 10/6/2017 at 6:42 PM, dudeguyy said:

Not much discussion of this it seems, but Trump's magical economy just broke a record 7 years worth of private sector job growth that started under Obama in 2010. 

 

 

 


To be fair, most of them were service jobs lost to the Hurricanes. It'll be interesting to see if/how things pick up through the rest of the year, particularly in construction and related industries.
 

Quote

 

Severe weather battered the U.S. economy in September, leading to the first job losses since 2010, the government reported on Friday.

The labor market lost 33,000 jobs last month, though the unemployment rate fell to 4.2 percent, the lowest in 16 years.

Major hurricanes Harvey, Irma and Maria last month devastated parts of Texas and Florida and all of Puerto Rico, weighing heavily on jobs.

"Although the headline number for September is a loss of jobs, the first in seven years, the labor market remains in good shape," PNC chief economist Gus Faucher said in a statement.

"The job losses were due to disruptions from Hurricanes Harvey, Irma and Maria, not underlying weakness in the economy," Faucher added.

Economists had expected a rough report because of the hurricanes, but the results were even weaker than predicted, though they could always be revised upwards in a future report.

"Job growth should resume in October as the impact of the storms fades, and in fact will get a boost through the rest of this year and into 2018 because of rebuilding efforts, supported by federal aid and insurance payments," Faucher said.

 

[...]


Restaurants and bars were hit hardest by September’s storms, with a sharp 105,000-job drop in the sector.

 

 

http://thehill.com/policy/finance/354198-september-jobs-report

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  • 2 weeks later...

Those of us who complained about budget deficits under Obama, have better start complaining under Trump. So, I'm on record as

complaining.  6th highest deficit at all time and we aren't in a 'hot' war.  The short sighted, finger to the wind republicans are seeking a 'win'

giving up long term fiscal soundness for a short term political PR boost.  They officially are no longer the party of the conservative.

 

From the 1st link below-  The bold and underline show me that 1. They will break promises for expediency  2. They have no idea how they will pay for the tax deductions if they aren't eliminating 'certain deductions'.   3.   Proof they have no conservative underpinnings remaining. Ronald Reagan -RIP.  Do not call the repubs the conservative party. They have removed all doubt. 

 

quote (I added the #s & bold ):

The budget opens the door to expanding the federal deficit by $1.5 trillion over 10 years.

Tax cuts that have become Republicans’ essential policy objective since the Senate failed to pass multiple bills to rewrite Obamacare. Approval of the budget is expected to help shore up ties between Senate GOP leaders and Trump, who is angry at Republicans’ failure on health care and bent on Congress approving a tax-reform package by the end of the year.

(1) At the same time, by agreeing to the massive tax cut, Senate Republicans have officially moved the party far away from its promised goal of ensuring that the tax plan would not add to the deficit. The White House and House Republicans had vowed that the tax cuts would be offset with new revenue from the elimination of certain deductions,(2) but that is no longer the GOP’s goal.(3) Instead, they have abandoned long-standing party orthodoxy of deficit reduction and are seeking a political win after months of frustration on Capitol Hill.

 

 

 

https://www.washingtonpost.com/news/powerpost/wp/2017/10/19/republicans-have-the-budget-votes-they-need-but-democrats-prepare-to-make-it-painful/?utm_term=.34aa2089d0bb

 

https://www.wsj.com/articles/u-s-ran-666-billion-deficit-in-fiscal-2017-sixth-highest-on-record-treasury-says-1508522722

 

 

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3 hours ago, TGHusker said:

Those of us who complained about budget deficits under Obama, have better start complaining under Trump. So, I'm on record as

complaining.  6th highest deficit at all time and we aren't in a 'hot' war.  The short sighted, finger to the wind republicans are seeking a 'win'

giving up long term fiscal soundness for a short term political PR boost.  They officially are no longer the party of the conservative.

 

From the 1st link below-  The bold and underline show me that 1. They will break promises for expediency  2. They have no idea how they will pay for the tax deductions if they aren't eliminating 'certain deductions'.   3.   Proof they have no conservative underpinnings remaining. Ronald Reagan -RIP.  Do not call the repubs the conservative party. They have removed all doubt. 

 

quote (I added the #s & bold ):

The budget opens the door to expanding the federal deficit by $1.5 trillion over 10 years.

Tax cuts that have become Republicans’ essential policy objective since the Senate failed to pass multiple bills to rewrite Obamacare. Approval of the budget is expected to help shore up ties between Senate GOP leaders and Trump, who is angry at Republicans’ failure on health care and bent on Congress approving a tax-reform package by the end of the year.

(1) At the same time, by agreeing to the massive tax cut, Senate Republicans have officially moved the party far away from its promised goal of ensuring that the tax plan would not add to the deficit. The White House and House Republicans had vowed that the tax cuts would be offset with new revenue from the elimination of certain deductions,(2) but that is no longer the GOP’s goal.(3) Instead, they have abandoned long-standing party orthodoxy of deficit reduction and are seeking a political win after months of frustration on Capitol Hill.

 

 

 

https://www.washingtonpost.com/news/powerpost/wp/2017/10/19/republicans-have-the-budget-votes-they-need-but-democrats-prepare-to-make-it-painful/?utm_term=.34aa2089d0bb

 

https://www.wsj.com/articles/u-s-ran-666-billion-deficit-in-fiscal-2017-sixth-highest-on-record-treasury-says-1508522722

 

 

 

Way to have some actual principles, TGH. 

I have to laugh at all the GOP members who ran for Congress as budget hawks and talked about restoring fiscal responsibility to Washington. Balancing a budget, cracking down on waste/fraud/abuse & all that jazz....


Time and again the modern GOP has shown it only cares about the budget when a Democrat is in office. It's a useful rhetorical tool to lure disaffected fiscal conservatives, sure. But they really don't care at ALL about any of it once they are in charge. Then they blow up the deficit as much (more!) than Democrats because they're so doggone committed to tax cuts.

 

The see them wave away questions about paying for the massive cuts in their "reform" with dynamic scoring, increased economic activity, etc. is hilarious. They might as well just call it a magic asterisk or wave a magic wand at it. They consistently use funny math to arrive at their projections, and I've yet to see them provide compelling evidence that tax cuts, in and of themselves, spur economic growth. It sure didn't work out that way for Brownback in Kansas.

 

But I'm just along for the ride, like everyone else...

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On 10/20/2017 at 5:33 PM, dudeguyy said:

 

Way to have some actual principles, TGH. 

I have to laugh at all the GOP members who ran for Congress as budget hawks and talked about restoring fiscal responsibility to Washington. Balancing a budget, cracking down on waste/fraud/abuse & all that jazz....


Time and again the modern GOP has shown it only cares about the budget when a Democrat is in office. It's a useful rhetorical tool to lure disaffected fiscal conservatives, sure. But they really don't care at ALL about any of it once they are in charge. Then they blow up the deficit as much (more!) than Democrats because they're so doggone committed to tax cuts.

 

The see them wave away questions about paying for the massive cuts in their "reform" with dynamic scoring, increased economic activity, etc. is hilarious. They might as well just call it a magic asterisk or wave a magic wand at it. They consistently use funny math to arrive at their projections, and I've yet to see them provide compelling evidence that tax cuts, in and of themselves, spur economic growth. It sure didn't work out that way for Brownback in Kansas.

 

But I'm just along for the ride, like everyone else...

Yes, but that ride gets pretty bumpy when real policies manifest in real consequences.  Someone once said that bad theology is a cruel taskmaster. That is true if one speaks of Jim Jones type religious theology or modern day Republican theology.  Tax cuts have become the dogma of the Republican party has full bore abortion without limits has become the same for the Dems.

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