Trump inherits great President Obama economy

[Nasty Jack]

President-elect Donald Trump said that Barack Obama has been very cooperative with him and his transition team, scary as it is, in turning over a government that was rescued from George W. Bush's calamitous eight years as President. Bush almost put the country in the toilet, but Obama has brought things back to a stability that can be built on. All the time with a GOP Congress that resisted virtually every move the President made.

Unemployment, at the lowest level since 2007, home prices at all time highs, with the middle class getting a pay raise. These words from CNN Money where they quote Paul Ashworth, chief economist at Capital Economics, saying, "The 'Obama economy' deserves a 'B or B+' grade." It's not an "A" but many think it should be, and the the President, in defense of his administration commented:

"Anyone claiming that America's economy is in decline is peddling fiction."

Wages are stagnant, have been for some time, not responding to a cycle where they usually rise when unemployment goes down. One of the reasons is, rather than pay higher wages, companies are going overseas for cheaper labor. But with no inflation, workers at least keep a status-quo, which could change soon if the feds up the interest rates. What matters is that the economy is going in the right direction under Pres. Obama. We'll see where it's going a year from now.

Passionate & Progressive

[yallerdawg]

1. Bush 2.0 inherited a great economy from President Clinton.

Precedent Trump is even less capable and qualified.

Do countries file bankruptcy?

Or do we just wait until he realizes we print our own money?

[Wounded Bear]

5. His Repub buddies in Congress know...

that's all that counts.

[Joe941]

7. Remember how Bush left the economy - tRump will be worse!

[uponit7771]

13. +1

[meadowlark5]

2. And he'll ruin it

Can't destroy everything and give it all to your fancy rich friends without the house crumbling down around you.

[True_Blue]

3. Yes the economy always tanks under republicans

[uponit7771]

14. +1, and IIRC Obama's economy has even less room for improvement than Clinton's in many categories

... and there's no index spikers like at the end of Clinton's terms.

This economy is pretty stable other than the fed rate... the feds were always going to increase rates so that's baked in ... few are going to say they didn't know about rate hikes when they've been talking about it for over 2 years.

Still, conservatives will find a way to blame Obama but I have a feeling Obama will push back on their bull shit this time... no last minute Glass Steagal shit

[mtnsnake]

4. Trump will no doubt try to take credit within the first few months of his presidency

for any of President Obama's economical success

[Vogon_Glory]

6. Paul Krugman Wrote Of A Stock Melodrama Character Called The Wastrel

Wastrels in many 19th century melodramas often received handsome inheritances from wealthy parents, grandparents, or uncles and then quickly run through it and run up mountains of debt. Krugman's column refered to Dubya, but I fear it will refer to Donald even more.

[Orsino]

8. I hope someone is taking a "before" picture.

And that people are still alive to take the "after."

[BSdetect]

9. He can bamboozle the dickheads who voted for him.

A few denials, a few fact free claims and voila, he's the champion of the underdogs.

Avoid press conferences, favor Fucked News and he's immune to critics.

[tammywammy]

10. The debt ceiling has to be raised in March 2017.

He's put a guy in the budget office that's against raising the debt ceiling. Defaulting on the national debt will send us into a Great Recession.

[YoungDemCA]

11. "Rural communities are dying, economically and literally"

Researchers looked at three of the last recoveries in the U.S. economy: 1992-1996, 2002-2006, and 2010-2014. They found an ominous and specifically geographic change: In the 1990s recovery, business and job creation was widespread across the country, with less dense and less populous counties of 500,000 people or less generating 71 percent of all new business establishments. In the 2010s, that figure plummeted to 19 percent. Instead, it was counties with more than 500,000 people generating 81 percent of new businesses. And the bulk of the change took place for counties with over a million people.

...the problem isn't just that dense counties and major cities account for way more of the country's economic vibrancy than they used to. It's that the total amount of economic activity has collapsed: In the 1990s and the 2000s recoveries, 420,850 and 400,390 new business establishments were created, respectively. But in the 2010s recovery following the Great Recession, that fell to 166,460.

Business creation didn't just move to the cities. It shrank — massively. Cities and dense counties were just the islands left over after the waters rose everywhere else.

Counties with more than a million people did a bit better in the 2010s than they did in the 1990s. But not a lot better. By contrast, counties with less than 500,000 people have gone into a complete tailspin.

In the 1990s, just 17 percent of counties saw a net decline in business establishments. That number ballooned to 58 percent in the 2010s. Net job decline went from 14 percent of counties to 31 percent. Population decline spread from 22 percent of counties to 54 percent.

Rural communities are dying, economically and literally, and the rural Americans who can are fleeing to big cities. That means a massive shift in demand for housing towards the remaining economic safe harbors: cities.

http://theweek.com/articles/628371/unconscionable-abandonment-rural-america

[DFW]

12. There is a saying which has proven true more than not:

If you want to live like a Republican, vote for a Democrat.

What investments I have, and they are all back in the States, including my IRA, took a nosedive under Cheney/Bush. Since 2008, they have more than doubled.

Granted, I'm one guy, but my investments have pretty much stagnated since 2008 in that I have hardly touched them. So, it's not a difficult figure to keep track of.