In other words, your field continues to be RUSSIA!
it's pathetic how bad the republican congress is and how they view party over country in the face of this regime and it's blatant disregard of the rule of law and their continued obstruction of justice the president keeps committing openly
not to mention all the other garbage and lying
In other words, your field continues to be RUSSIA!
I think this is the salient point: Trump, as an individual and as a businessman, is shady. He’s bringing a culture of corruption to the executive branch, and the entity responsible for oversight is asleep at the switch.
I noticed that nobody commented on the 4% Q2 GDP number announced last week.
That's a different field than RUSSIA! and it actually impacts people
It got about as much play as the two consecutive quarters of 4%-plus GDP growth in 2014.
I noticed that nobody commented on the 4% Q2 GDP number announced last week.
That's a different field than RUSSIA! and it actually impacts people
I noticed that nobody commented on the Treasury Department's plans to ramp up debt issuance to cover the deficit. From an article in the WSJ yesterday:
In all, the Treasury plans to borrow $329 billion from July through September—up $56 billion from the agency’s April estimate—in addition to $440 billion in October through December. The figures are 63% higher than what the Treasury borrowed during the same six-month period last year.
Now it is an open question how much "credit" the executive branch deserves for GDP growth in any quarter. But I think fiscal policy is something for which it does have a fairly clear responsibility.
CBO deficit projections: fiscal year 2017 (actual) $665 billion, FY 2018 $804 B, FY 2019 $981B, FY 2020 $1,008B
Its not that hard to gin up GDP growth if you blow a $300 billion hole in federal finances, especially when it comes at a time when the economy is already growing at a decent clip. Given the state of the economy the current administration inherited, I wouldn't call it an accomplishment. I would call it irresponsible.
Only difference is interest rates have been raised 7 times since then and no QE.
The economy is a stream that requires different actions at different phases. Fed has its eye on inflation and adjusts interest rates accordingly. One can argue if the interest rate hikes are needed--the President doesn't seem to think so--but for those of us who lived through stagflation in the late-1970s and the Volcker decision to wring inflation out of the economy with high interest rates, what is happening is prudent. Basically, the economy is bigger than any single President or Congress. The idea is to promote the appropriate actions to manage things as opposed to trying to promote radical change because the economy is going to do what it is going to do. I agree with Hayek on that part of the equation.
It also should be pointed out that even with the high GDP numbers in the second and third quarters of 2014, the Democrats were pounded in the mid-terms.