White House foresees long economic boom where others don't

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  • Thid Barker Victor, ID
    March 20, 2019 8:49 a.m.

    Under President Trump consumer confidence rises to 17-year high, 9.7 out of 10 based on 3 ratings. Trump haters will REALLY get mad when he is re-elected in 2020!

  • The Great Helmsman Salt Lake City, UT
    March 20, 2019 8:01 a.m.

    Bar none, this is the truest thing you will read all day:

    If I’m Dear Leader, I’d be a scared my approval rating is only at 40% when the economy is quite good.

  • SG in SLC Salt Lake City, UT
    March 19, 2019 2:41 p.m.

    The Trump apologists are giddy about the economy because they have been drinking the kool-aid (or swimming in it, as the case may be) and embracing the short-term (relatively) rosy view; willfully ignoring any economic clouds that may also be on the horizon.

    Trump and his congressional enablers "goosed" an already-growing economy nearing full employment to produce exceptional short-term economic numbers to brag about. The problem is that those exceptional numbers aren't sustainable, and they come with some fairly unpleasant consequences.

    Where they see an economy that "is the envy of the world", I see an unemployment rate below full employment (inflationary, unsustainable), a flat yield curve threatening to invert (almost always leads to recession), declining consumer confidence (consumption = 2/3 GDP), slowing business investment, increasing business debt, a prolonged trade war with China (economic drag), and the beginnings of a global economic slowdown. Many economists are concerned about these same things.

    Consequently, I see the strong possibility of a recession beginning in Q1/Q2 of 2020. It's not a sure thing, but the indicators are increasingly pointing that way.

  • Jim Chee Lahaina, HI
    March 19, 2019 2:17 p.m.

    The White House propaganda machine is in full swing with Fox News, Donald Trump's personal information source, reaching out to its viewers to shape the message. However, it appears that the only people for whom this information is directed is the 32% of believers. Somehow, the White House doesn't care about the rest of the American public being content to just muddy the waters and leave them to look elsewhere for confirmation of the information they're getting fed.

    Now we're having Trump's own economic advisors telling him that his expectation of permanent 3% growth is just a figment of his mind and it's not going to happen unless some major things are done to the economy. The 2017 tax cut for the wealthy isn't doing it. The tariff war with the world is causing serious harm. Spending is out of control, and the debt is increasing beyond anything we have ever seen before.

    In other words, the good economy inherited from Barack Obama is at risk of going into free fall and bringing on another recession that will impact Trump's re-election effort. Couple this with the baggage that he carries and defeat is looking Trump right in the eye. Maybe the Russians won't be much help this time.

  • silo Sandy, UT
    March 19, 2019 11:50 a.m.

    @thid barker
    "The Federal government meddling in the housing market caused the last recession, not banks and not the GOP!"

    Except 'government meddling' was not remotely the cause of the last recession. In fact, the recession was accelerated by the absence of regulation more than the presence. That, combined with an abundance of greed and the socialization of corporate losses.

  • Frozen Fractals Salt Lake City, UT
    March 19, 2019 11:44 a.m.

    @Thid Barker
    "Our GDP is nearly twice what it was during the previous administration "

    That's false. What you presumably meant to say is GDP growth, which is misleading since you're either just picking out 2016 or you're including the inherited recession.
    2019: -2.5%
    2010: 2.6%
    2011: 1.6%
    2012: 2.2%
    2013: 1.8%
    2014: 2.5%
    2015: 2.9%
    2016: 1.6%
    2017: 2.2%
    2018: 2.9%

    Trump's average is 2.55% with a forecast closer to 2% for 2019.
    Obama's post recession average is 2.17%. His second term average was 2.2%.

  • Unreconstructed Reb BE, 00
    March 19, 2019 11:33 a.m.

    I invite those claiming a miraculous "Trump economy" to point an exact month in his administration when he turned it all around from those awful Obama years. Exactly when was the inflection point, and what policy can we credit? Shouldn't be too hard to do that by looking at a few economic charts between 2009 and the present.

  • unrepentant progressive Bozeman, MT
    March 19, 2019 11:01 a.m.

    "Democrats can explain, defend and admire Venezuela's economy!"

    How is this a rational comment? It is all well and good to draw comparisons, but let's base such on reasonable grounds. The Democratic party supports implementation of a Venezuelan style economy. Never will.

    "Our GDP is nearly twice what it was during the previous administration"

    Another gem of overdoing partisanship. Context is everything. Obama started out in a deep hole and ran an 8 year course. Trump inherited good GDP growth and we only have two years to compare to. And BTW, while the Trump GDP is higher than the Obama GDP, it is not double.

    "We have better trade deals with our more of our trading partners and our allies are paying for their own military protection"

    We are still in trade wars, with unsettled deals. The "new" NAFTA is a rehash of the old one anyway. And please explain how our allies are repaying us for our policiing services. Again, it is well and good to gloat over accomplishments. However, to date they are not exactly all that remarkable, if even effected. Silly boosterism.

  • Thid Barker Victor, ID
    March 19, 2019 10:39 a.m.

    Bill Clinton and Barney Frank decided everyone should own a house, even if they could not service their mortgages. Enter government backed and finance Fannie Mae and Freddy mac and millions of ninja (no assets, no job, no income) housing loans! The demand for housing exploded and so did the costs of homes (supply and demand). Millions found their homes with underwater mortgages and walked away leaving banks with billions in toxic loans. The Federal government meddling in the housing market caused the last recession, not banks and not the GOP! Obama bailed out the banks with borrowed money and added more national debt than all other presidents combined! No charge for this lesson in recent history!

  • Happy Valley Heretic Orem, UT
    March 19, 2019 9:34 a.m.

    Remember when the economy was humming along during the Bush years, remember the tax rebates, tax cuts, increased spending?

    Remember Obama having to bail out the worst recession since the great one that the GOP created?

    Yeah, righties seldom remember that far back, which is why it will repeat, and the GOP will blame the Democrats.

  • Thid Barker Victor, ID
    March 19, 2019 9:32 a.m.

    Rational Americans will take and prosper from our booming economy while Democrats can explain, defend and admire Venezuela's economy!

  • one vote Salt Lake City, UT
    March 19, 2019 8:42 a.m.

    The short term quest for immediate media coverage, love and loyalty cares very little about the future of the economy and encourages bubbles.

  • Yuge Opportunity Here Mapleton, UT
    March 19, 2019 8:41 a.m.

    The headline sums up the last two years.

    But the narrative differs from the real world.

  • Thid Barker Victor, ID
    March 19, 2019 8:16 a.m.

    Our economy is the envy of the world! Wages are up, taxes are down, unemployment is near record lows and is at all time record low levels for minorities! Our GDP is nearly twice what it was during the previous administration and the DOW is over 26K again! We have better trade deals with our more of our trading partners and our allies are paying for their own military protection! Our air and water are cleaner and our military is the best in the world. The wall on our S. border is going up and every part of life in America is getting better! Only a jealous, angry Democrat would complain about all of this American growth and prosperity! MAGA!

  • The Great Helmsman Salt Lake City, UT
    March 19, 2019 8:05 a.m.

    Dear Leader's reign rests on a one legged stool: The economy. That is the only area of his presidency where receives positive marks. He better hope the economy keeps humming along. It is the ONLY chance he has of being reelected.

    If the economy goes south, the Democrats can nominate a decent, level-headed animal control officer from Spokane and she will beat Dear Leader.

  • RiDal Sandy, UT
    March 19, 2019 7:33 a.m.

    Well, so far, Trump has been right and all the "pundits" wrong. So, I am not really worried.

  • Impartial7 DRAPER, UT
    March 19, 2019 6:46 a.m.

    Well, based on a 2 year track record, people know that whatever the White House tells us, pretty much the opposite is true.