Regardless of what the economy does over the next few years, do we agree that Trump owns it? After the trend lines for most economic indicators carried on from the Obama years into the Trump Presidency, it seemed that at some point it had to become “Trump’s†as his policies were enacted and took hold.
Is it safe to assume that we’ll all agree that at this point it’s definitely Trump’s economy?
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
I’ve argued in the past that presidents themselves cannot take all the accolades for a good economy, nor should they take all the blame for a poor economy. There are simply too many moving parts, including global trends. But presidents carry some responsibility for the effects their chosen policies have on the economy.
Trump inherited a fairly good economy, with unemployment trending lower and growth continuing to pick up. He gave it a shot of adrenaline with the tax cuts, and the stock market has particularly benefited from the corporate tax cuts and subsequent share buy-backs. However, the sugar rush from the tax cuts may leave a nasty fiscal headache, as we are beginning to see from our widening deficit.
Trump’s other big economic initiative has been the trade war he’s embarked upon, not just with China, but with our allies as well. He told us “trade wars are good and easy to win” but neither of those things seem to be true. I think Trump is now beginning to fret. He’s reportedly frustrated that his economic team has failed to secure a trade deal with China (I thought he was the world’s best deal-maker?!), and if the US economy continues to slow he’s likely to get more desperate to find others to blame. Yesterday he called Fed Chair Jerome Powell “clueless.”
You must be new around here: the President’s “ownership†of an economy only exists in the context of what’s ideologically convenient for an individual.
On a more serious note, Windy is largely correct. The forces that govern the economy are far larger than any one President or the government for that matter. To the degree that the government can affect the economy, it’s largely asymmetrical: it can help a touch to the upside but it can hurt the economy far more if the wrong policies are adopted.
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
Sadly, the one area he can heavily influence the economy is with tariffs.
Only if it does well.
He takes all the (undeserved) credit, but always deflects all the (undeserved) blame.
Economies are bigger than presidents.
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
Sadly, the one area he can heavily influence the economy is with tariffs.
Politically he owns it.
Realistically it depends on if some concrete link can be shown between policy and whatever aspect of the economy is being examined.
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
Sadly, the one area he can heavily influence the economy is with tariffs.
Politically he owns it.
This! Just listen to Tweetrump when it is doing good. It is solely because of him. He alone has caused the greatest economic growth in the history of the U.S. While that is not true, even when limited to the last 40 years, he says it. So if it weakens, he will want to disown it but it will be an albatross around his neck during his campaign.
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
Sadly, the one area he can heavily influence the economy is with tariffs.
Are his tarriffs illegal? No. Congress abrogated its responsibility yet again.
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
Sadly, the one area he can heavily influence the economy is with tariffs.
Are his tarriffs illegal? No. Congress abrogated its responsibility yet again.
That isn’t the question. Trump has pushed via legislation or executive order several policies that diverge significantly from previous policies. To that extent he “owns” the results to a greater extent than other preseidents, who often have much smaller economic impacts (this is for good and bad, massive deficit growth, lower corporate tax rate, reduced immigration, tariffs, etc.). No one is bringing up “illegality”, that wasn’t the OP.
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
Sadly, the one area he can heavily influence the economy is with tariffs.
Are his tarriffs illegal? No. Congress abrogated its responsibility yet again.
Who said they were illegal?
The president has an impact on the economy. To think otherwise is putting your head in the ground. There are obviously larger things at play than the president’s policies that impact the economy, especially when we are part of the global economy.
But does the presidents deregulation help business? If not, then why deregulate.
Did the tax cuts help business? If not, why have the tax cuts.
How do tariffs impact the economy.
These are just incredibly high level things that obviously impact the economy.
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
Sadly, the one area he can heavily influence the economy is with tariffs.
Are his tarriffs illegal? No. Congress abrogated its responsibility yet again.
I agree, no president should be able to tax citizens based on a whim.
Sadly, the only way that power is going to be revoked is by some asshole abusing the power.
The president has an impact on the economy. To think otherwise is putting your head in the ground. There are obviously larger things at play than the president’s policies that impact the economy, especially when we are part of the global economy.
But does the presidents deregulation help business? If not, then why deregulate.
Did the tax cuts help business? If not, why have the tax cuts.
How do tariffs impact the economy.
These are just incredibly high level things that obviously impact the economy.
The example I thought of is the stock market taking some pretty big swings based on Trump’s tariff talk. Then again I only catch this sort of stuff in passing.
To me, its just easy to see from the other side. If the economy now was growing at a 4% clip, then everyone would be saying that Trump’s deregulations/tax cuts “primed the pump” and let the economy blossom.
However, the economy is now growing at the same, and is predicted to grow at a lower rate than Obama’s (while further increasing the deficit because the tax cuts/tarriffs are not paying for themselves).
its stupid to look at the below chart and say that trump’s tax cuts initially allowed to economy to grow very rapidly (as predicted) but then would tail off to less than 2% annual growth, which would not pay for itself. Its silly to look at graphs as those shown below and say “trump has nothing to do with it.” it also makes sense to say in the first 1-2 years (before any legislation was passed) to say that trump sitting in the Oval office doesnt impact anything.
To further see things you would need to see a global chart of the relative economies growing/slowing. I
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
The president gets way too much credit and blame for any particular swing of the economy.
But the government as a whole has a pretty large effect. Tariffs, taxes, deficit spending, regulations and environmental requirements all come into play. Increase or decrease these and you are pulling the levers.
One thing I would ask about Trump, is his lever pulling sustainable? And what happens when he can’t pull them any further or has to reset them?
S&P 500 in the first 646 trading days of each presidency
+21% Ronald Reagan
+35% George H.W. Bush
+29% Bill Clinton
-25% George W. Bush
+39% Barack Obama
+25% Donald Trump
Tweetrump is in 4th place out of the past 6 presidents in the last 40 years. And that was before the 800 point drop. He might be below Reagan now.
No. The president any president (not deflecting Danno look through my posting history) has little to do with the economy. The electorate doesn’t realize that, but that is a different conversation.
Sadly, the one area he can heavily influence the economy is with tariffs.
Are his tarriffs illegal? No. Congress abrogated its responsibility yet again.
I agree, no president should be able to tax citizens based on a whim.
Sadly, the only way that power is going to be revoked is by some asshole abusing the power.
Or congress reasserting itself as the preeminent power in government.
S&P 500 in the first 646 trading days of each presidency
Ronald Reagan +21%
George H.W. Bush +35%
Bill Clinton +29%
George W. Bush -25%
Barack Obama +39%
Donald Trump +25%
Tweetrump is in 4th place out of the past 6 presidents in the last 40 years. And that was before the 800 point drop. He might be below Reagan now.
A) the Dow is for retail
B) your statistics are pointless for this conversation
S&P 500 in the first 646 trading days of each presidency
Ronald Reagan +21%
George H.W. Bush +35%
Bill Clinton +29%
George W. Bush -25%
Barack Obama +39%
Donald Trump +25%
Tweetrump is in 4th place out of the past 6 presidents in the last 40 years. And that was before the 800 point drop. He might be below Reagan now.
A) the Dow is for retail
B) your statistics are pointless for this conversation
Bwahaha. Tell Tweetrump that. Fake News.