Essential Economics for Politicians

Sheriff Joe said:
Obama's Big Government Crushed Again: Congress Passes Rollback Of Dodd-Frank
1 hour ago
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.dailywire.com/news/30965/obamas-big-government-crushed-again-congress-hank-berrien?amp&ved=0ahUKEwj73rX13JvbAhVNtlkKHYueAJYQqUMIKDAA&usg=AOvVaw1sLkjpte0WAcOATCllAf8f&ampcf=1
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Why do these people Hate America?

The #DoddFrankRollBack would open the doors to banks once again discriminating in how they lend to home buyers. We should be taking steps to move forward, not making the situation worse.
12:48 PM · May 22, 2018
 
Sheriff Joe said:
Obama's Big Government Crushed Again: Congress Passes Rollback Of Dodd-Frank
1 hour ago
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.dailywire.com/news/30965/obamas-big-government-crushed-again-congress-hank-berrien?amp&ved=0ahUKEwj73rX13JvbAhVNtlkKHYueAJYQqUMIKDAA&usg=AOvVaw1sLkjpte0WAcOATCllAf8f&ampcf=1
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“Before the House voted on the bill, Senator Elizabeth Warren tweeted, “For years, armies of bank lobbyists & executives have groaned about how financial rules are hurting them. But there’s a big problem with their story — banks are making record profits. Congress has done enough favors for big banks — the House should reject the #BankLobbyistAct.””

Dipshits bailed out the big banks for the first 5 years of Obamaʻs two terms. Dodd-Frank preserves bail-outs for banks by automatically converting depositors savings and/or bonds to equities in those same banks.
 
Bruddah IZ said:
“Before the House voted on the bill, Senator Elizabeth Warren tweeted, “For years, armies of bank lobbyists & executives have groaned about how financial rules are hurting them. But there’s a big problem with their story — banks are making record profits. Congress has done enough favors for big banks — the House should reject the #BankLobbyistAct.””

Dipshits bailed out the big banks for the first 5 years of Obamaʻs two terms. Dodd-Frank preserves bail-outs for banks by automatically converting depositors savings and/or bonds to equities in those same banks.
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Liberals don't understand economice or they wouldn't be liberals.
 
Trump May Be The Most Fiscally Reckless President In American History

Trump's behavior on everything and anything having to do with the federal budget has become blatantly predictable and painfully obvious. It always includes some combination of:

1. Proposing whatever he wants on revenues and spending regardless of whether it is the right policy for the economy.
2. Making up his own rules of economics, mathematics and budgeting to justify what's being proposed and make them politically palatable.
3. Discrediting the facts when they get in the way of what he wants to do and demeaning those that produce them.
4. Ignoring reality when what actually happens turns out very different from what he swore would occur.
5. Paying no attention whatsoever to the budget deficit and national debt.

Trump's big tax cut demonstrates every ingredient of this witches' brew.
First, the bill's $1.5 trillion revenue loss, debt increase and stimulus was the absolute wrong fiscal policy with the economy so strong.

Second, no amount of Trump insistence and bullying about dynamic scoring was going to make that tax cut revenue neutral.

Third, even when they came from Republican-led groups like the Joint Economic Committee, nonpartisan groups like the Congressional Budget Office and Wall Street, the analyses (and those that did them) showing Trump to be wrong were trashed by the White House.

Fourth, now that the tax cut has been enacted, Trump doesn't seem to care that his promise of a deficit-neutral bill was flat out wrong even though it will cause the budget deficit to reach record heights in good economic times.

But the tax cut is hardly the only example.

Trump's combination of a big increase in military spending and a very large reduction in revenues meant rapidly growing interest payments both because of higher deficits and debt and fast-rising interest rates. There was also Trump's "skinny budget" that wasn't a budget at all; the two full Trump budgets the White House abandoned seemingly moments after they were released; and the health care debate during which the White House scurrilously criticized CBO for daring to produce highly credible analyses showing the president's numbers were wrong.

https://www.forbes.com/sites/stanco...s-president-in-american-history/#1ab66b96564a

Making America Great?
 
Booter said:
Trump May Be The Most Fiscally Reckless President In American History

Trump's behavior on everything and anything having to do with the federal budget has become blatantly predictable and painfully obvious. It always includes some combination of:

1. Proposing whatever he wants on revenues and spending regardless of whether it is the right policy for the economy.
2. Making up his own rules of economics, mathematics and budgeting to justify what's being proposed and make them politically palatable.
3. Discrediting the facts when they get in the way of what he wants to do and demeaning those that produce them.
4. Ignoring reality when what actually happens turns out very different from what he swore would occur.
5. Paying no attention whatsoever to the budget deficit and national debt.

Trump's big tax cut demonstrates every ingredient of this witches' brew.
First, the bill's $1.5 trillion revenue loss, debt increase and stimulus was the absolute wrong fiscal policy with the economy so strong.

Second, no amount of Trump insistence and bullying about dynamic scoring was going to make that tax cut revenue neutral.

Third, even when they came from Republican-led groups like the Joint Economic Committee, nonpartisan groups like the Congressional Budget Office and Wall Street, the analyses (and those that did them) showing Trump to be wrong were trashed by the White House.

Fourth, now that the tax cut has been enacted, Trump doesn't seem to care that his promise of a deficit-neutral bill was flat out wrong even though it will cause the budget deficit to reach record heights in good economic times.

But the tax cut is hardly the only example.

Trump's combination of a big increase in military spending and a very large reduction in revenues meant rapidly growing interest payments both because of higher deficits and debt and fast-rising interest rates. There was also Trump's "skinny budget" that wasn't a budget at all; the two full Trump budgets the White House abandoned seemingly moments after they were released; and the health care debate during which the White House scurrilously criticized CBO for daring to produce highly credible analyses showing the president's numbers were wrong.

https://www.forbes.com/sites/stanco...s-president-in-american-history/#1ab66b96564a

Making America Great?
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Trump is an opioid for his base and a band-aid at best for the rest of us. Temporary relief, then the effects will wear off and reality set in. There will be a reckoning, a sobering up and then we will be left with the aftermath. The scar will be an ugly one.
 
Booter said:
Trump May Be The Most Fiscally Reckless President In American History
Click to expand...
Let us know when they turn on the QE spigot.
Hüsker Dü said:
Trump is an opioid for his base and a band-aid at best for the rest of us. Temporary relief, then the effects will wear off and reality set in. There will be a reckoning, a sobering up and then we will be left with the aftermath. The scar will be an ugly one.
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QE always leaves a nasty scar.
 
Booter said:
Trump May Be The Most Fiscally Reckless President In American History

Trump's behavior on everything and anything having to do with the federal budget has become blatantly predictable and painfully obvious. It always includes some combination of:

1. Proposing whatever he wants on revenues and spending regardless of whether it is the right policy for the economy.
2. Making up his own rules of economics, mathematics and budgeting to justify what's being proposed and make them politically palatable.
3. Discrediting the facts when they get in the way of what he wants to do and demeaning those that produce them.
4. Ignoring reality when what actually happens turns out very different from what he swore would occur.
5. Paying no attention whatsoever to the budget deficit and national debt.

Trump's big tax cut demonstrates every ingredient of this witches' brew.
First, the bill's $1.5 trillion revenue loss, debt increase and stimulus was the absolute wrong fiscal policy with the economy so strong.

Second, no amount of Trump insistence and bullying about dynamic scoring was going to make that tax cut revenue neutral.

Third, even when they came from Republican-led groups like the Joint Economic Committee, nonpartisan groups like the Congressional Budget Office and Wall Street, the analyses (and those that did them) showing Trump to be wrong were trashed by the White House.

Fourth, now that the tax cut has been enacted, Trump doesn't seem to care that his promise of a deficit-neutral bill was flat out wrong even though it will cause the budget deficit to reach record heights in good economic times.

But the tax cut is hardly the only example.

Trump's combination of a big increase in military spending and a very large reduction in revenues meant rapidly growing interest payments both because of higher deficits and debt and fast-rising interest rates. There was also Trump's "skinny budget" that wasn't a budget at all; the two full Trump budgets the White House abandoned seemingly moments after they were released; and the health care debate during which the White House scurrilously criticized CBO for daring to produce highly credible analyses showing the president's numbers were wrong.

https://www.forbes.com/sites/stanco...s-president-in-american-history/#1ab66b96564a

Making America Great?
Click to expand...
How much money has Trump printed or borrowed and given to public employee unions and banks?
 
Booter said:
Trump May Be The Most Fiscally Reckless President In American History

Trump's behavior on everything and anything having to do with the federal budget has become blatantly predictable and painfully obvious. It always includes some combination of:

1. Proposing whatever he wants on revenues and spending regardless of whether it is the right policy for the economy.
2. Making up his own rules of economics, mathematics and budgeting to justify what's being proposed and make them politically palatable.
3. Discrediting the facts when they get in the way of what he wants to do and demeaning those that produce them.
4. Ignoring reality when what actually happens turns out very different from what he swore would occur.
5. Paying no attention whatsoever to the budget deficit and national debt.

Trump's big tax cut demonstrates every ingredient of this witches' brew.
First, the bill's $1.5 trillion revenue loss, debt increase and stimulus was the absolute wrong fiscal policy with the economy so strong.

Second, no amount of Trump insistence and bullying about dynamic scoring was going to make that tax cut revenue neutral.

Third, even when they came from Republican-led groups like the Joint Economic Committee, nonpartisan groups like the Congressional Budget Office and Wall Street, the analyses (and those that did them) showing Trump to be wrong were trashed by the White House.

Fourth, now that the tax cut has been enacted, Trump doesn't seem to care that his promise of a deficit-neutral bill was flat out wrong even though it will cause the budget deficit to reach record heights in good economic times.

But the tax cut is hardly the only example.

Trump's combination of a big increase in military spending and a very large reduction in revenues meant rapidly growing interest payments both because of higher deficits and debt and fast-rising interest rates. There was also Trump's "skinny budget" that wasn't a budget at all; the two full Trump budgets the White House abandoned seemingly moments after they were released; and the health care debate during which the White House scurrilously criticized CBO for daring to produce highly credible analyses showing the president's numbers were wrong.

https://www.forbes.com/sites/stanco...s-president-in-american-history/#1ab66b96564a

Making America Great?
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Sorry pal, trillion dollar deficits weʻre popular under the last administration.
 
Only 53 US Companies Have Been on the Fortune 500 since 1955, Thanks to the Creative Destruction That Fuels Economic Prosperity
This high turnover rate of America's most successful businesses is a positive sign.

As consumers, we should appreciate the fact that we are the ultimate beneficiaries of the Schumpeterian creative destruction that drives the dynamism of the market economy and results in a constant churning of the firms who are ultimately fighting to attract as many of our dollar votes as possible. The 500 top winners of that competitive battle in any given year are the firms in the Fortune 500, ranked not by their profits, assets or number of employees, but by what is ultimately most important in a market economy: their dollar votes (sales revenues).

https://fee.org/articles/only-53-us...e-destruction-that-fuels-economic-prosperity/
 
Funny how the nutters avoid talking about how Trump is doing in office. It's always something "be afraid" your taxes are going to go up, pictures of Hillary and really everything else then how Trump and Company are doing?

Not to be Debbie Downer, but if Trump continues to add $2 Trillion to the debt every year he's in office... somebodies taxes are going to have to go up.


Goldman Sachs: Fiscal outlook for the U.S. 'is not good' as national debt burden grows
https://amp.usatoday.com/amp/629841002

The fiscal outlook for the United States "is not good," according to Goldman Sachs, and could pose a threat to the country's economic security during the next recession.

"An expanding deficit and debt level is likely to put upward pressure on interest rates, expanding the deficit further," Jan Hatzius — Goldman's chief economist — wrote Sunday. "While we do not believe that the U.S. faces a risk to its ability to borrow or repay, the rising debt level could nevertheless have three consequences long before debt sustainability becomes a major obstacle."

Legislators passed a package of corporate and individual tax cuts in December, a two-year budget deal in February and a massive spending bill in March that boosted government expenditures on both domestic and military programs.

In light of the big spending and easier tax burden, the Congressional Budget Office – Capitol Hill's nonpartisan financial scorekeeper – in April projected that debt could equal GDP within a decade if Congress extends the tax cuts, a level not seen since World War II.
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tenacious said:
Funny how the nutters avoid talking about how Trump is doing in office. It's always something "be afraid" your taxes are going to go up, pictures of Hillary and really everything else then how Trump and Company are doing?

Not to be Debbie Downer, but if Trump continues to add $2 Trillion to the debt every year he's in office... somebodies taxes are going to have to go up.
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....to pay for the 9 trillion in debt that was added to the debt by 5 years of QE under Obama and democrats.
 
Bruddah IZ said:
....to pay for the 9 trillion in debt that was added to the debt by 5 years of QE under Obama and democrats.
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Back to Obama lol. But yes you're right- Trump and the Republican's are spending faster then Dem's did back when they used government money to bail out the financial sector. Think about that for a second.

And then ask yourself, we know the 1%'ers got a nice tax cut- but here we are ringing up massive debt and I can't think of one thing it's bought me? I didn't get a tax cut. Didn't make my life easier or in any other way improve my standing. And yet now I'm on the line to help pay back all that debt.
 
tenacious said:
Back to Obama lol. But yes you're right- Trump and the Republican's are spending faster then Dem's did back when they used government money to bail out the financial sector. Think about that for a second.
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You mean because they employed QE4? Funny how you swallowed the GS hook......again.
 
Bruddah IZ said:
You mean because they employed QE4? Funny how you swallowed the GS hook......again.
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I'm sure you know far more about all of that then me Bubs.

What I do know is when the rubber hits the road Republican's are spending our money faster then Dem's did when they save the world economy bailing out the Financial Industry. Would be nice to hear if you have anything to say about that? But I think we both know you don't...
 
tenacious said:
I'm sure you know far more about all of that then me Bubs.

What I do know is when the rubber hits the road Republican's are spending our money faster then Dem's did when they save the world economy bailing out the Financial Industry. Would be nice to hear if you have anything to say about that? But I think we both know you don't...
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I've posted the debt clock many times. Funny how you people like ignoring the effects of 9 trillion more fiat dollars in U.S. Debt. Especially the 2 trillion in interest. Sorry pal. There is just no way out of the fact that 9 of the current 21 trillion in debt came from the last administration.

http://www.usdebtclock.org
 
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