That’s just another lie you’ve consumed completely. He’s been charged and found guilty of 34 felonies because of HIS OWN ACTIONS. Period stop with the projection
2024 Presidential Election
- Thread starter PF5
- Start date
PF5
Ranger
Oklahoma had more voters and more votes, but less participation overall in 2024: See data
Turnout in Oklahoma fell this election, despite record registration and number of ballots cast.
www.oklahoman.com
Bless your heart
Didn't have to worry about that, those were already in place.
mugatu
Ranger
Dismantling the Department of Education? Trump's plan for schools in his second term
Trump has proposed featuring prayer in public schools and dismantling the Department of Education.
Summary of discussed policies fir Dep of Education.
mugatu
Ranger
Inflation is at about 2.3% last I saw... that's essentially historical norm.
Last time I checked it got as high as 7% during their term. Grocery prices still haven't come down.
mugatu
Ranger
Yes and that was over a year ago. They aren't going to come down. That would be deflation. That's bad.
PF5
Ranger
Barack Obama (2009–2017)
Average Annual GDP Growth Rate: 2.3%President Barack Obama had an average annual GDP growth rate of 2.3%. Obama ended the 2008 recession he inherited with the American Recovery and Reinvestment Act (ARRA), an $831 billion stimulus package passed by Congress aimed at cutting taxes, extending unemployment benefits, and improving infrastructure and education.44 However, Obama is the president who added the most to national debt, in dollar amounts, with his recession relief measures.34
Still, Obama bailed out the auto industry in the U.S. and created 11.3 million new jobs during his two terms. Inflation and interest rates also remained low.45 He also ended the Iraq War and reduced troops in Afghanistan.4647 Obama’s economic policies, now known as Obamanomics, were controversial at the time, and his role in ending the 2008 recession is still debated today.
Donald Trump (2017–2020)
Average Annual GDP Growth Rate: 2.3%President Donald Trump had an average annual GDP growth rate of 2.3%. While there were no major wars or recessions during Trump’s presidency, he did face the COVID-19 pandemic in 2020, his last year in office. Trump increased spending and cut taxes, while the Fed raised interest rates in response to Trump’s expansionary fiscal policies.4849
Trump placed import taxes on products from China, particularly steel and aluminum, to boost sales of American-made products. However, it hurt the sales of American exports instead, as China responded by placing tariffs on products it imported from the U.S. It also increased costs for American consumers.50
The economy went into recession with the onset of the COVID-19 public health crisis in March 2020 as businesses closed down and Americans sheltered in place. The recession was short but severe, and the Trump administration responded by declaring a state of emergency and passing a $2 trillion stimulus package called the CARES (Coronavirus Aid, Relief, and Economic Security) Act. The CARES Act provided relief for businesses and individuals through stimulus payments and a pause on student loan payments, among other measures, but it was not enough to pull the economy out of the pandemic-induced recession.49
Joe Biden (2021–)
Average Annual GDP Growth Rate: 2.2%President Joe Biden has had an annual GDP growth rate of 2.2% so far. Biden took office in the middle of the COVID-19 pandemic and signed the American Rescue Plan Act in 2021, which was a $1.9 trillion stimulus package to provide economic relief from the pandemic.51
While the recession caused by the pandemic was severe, it was short-lived. However, it was followed by record-high inflation, partly due to the Russian invasion of Ukraine, which caused soaring gas in 2022, supply chain snarls, higher demand for goods, and increased consumer spending from federal stimulus checks.5253 The Federal Reserve responded by raising interest rates 11 times since March 2022 in an attempt to cool inflation.54 In July 2024, inflation cooled to 2.9%, and the Fed signaled a potential rate cut.
Comprehensive economic data will be available in a few years for Biden’s presidency.
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Perfect example of Bidenomics.
I've seen grocery prices drop depending on what you buy. I tend to look for sales and stock up though and understand not everyone can do that. If you are cost conscious and don't just buy a bunch of processed garbage, your grocery bill should look less frustrating than it did a year or two ago.
In general though widespread cost reductions would indicate a recession and I don't think anyone wants that.
mugatu
Ranger
Again for those in the back.Perfect example of Bidenomics.
You don't want prices to go down. You want the increases to be slower than rises in income. Deflation (reduction in overall cost of goods over time) kills economies because the following week/month is always a better time to make purchases that can wait. That drives purchasing of many goods down, kills demand and slows cash flow through the economy. That all leads to loss of need for workers and high unemployment. See article attached, I think it covers most of that. If you're actually willing to look at something vs spout crap you've been fed.
What Is Deflation? Why Is It Bad For The Economy?
When prices go down, it’s generally considered a good thing—at least when it comes to your favorite shopping destinations. When prices go down across the entire economy, however, it’s called deflation, and that’s a whole other ballgame. Deflation is bad news for the economy and your money. Defla
www.forbes.com
P.S. As we have discussed on this board previously, the Fed policy has a huge impact on inflation. Both parties passed bills to pump money into the economy during and shortly post COVID to help prevent recession. This worked, however the Fed failed to act until inflation was well established. The presidential policies don't directly control inflation near as much as the Fed rates and monetary policy.
inappropriate.name
New member
A short period of deflation after high inflation is good. Long term not so much. Remember, for those in the back 8.7% in one year is built upon as you go forward meaning that anomily carrys forward along with the 4+% from the year before and after.Again for those in the back.
You don't want prices to go down. You want the increases to be slower than rises in income. Deflation (reduction in overall cost of goods over time) kills economies because the following week/month is always a better time to make purchases that can wait. That drives purchasing of many goods down, kills demand and slows cash flow through the economy. That all leads to loss of need for workers and high unemployment. See article attached, I think it covers most of that. If you're actually willing to look at something vs spout crap you've been fed.
What Is Deflation? Why Is It Bad For The Economy?
When prices go down, it’s generally considered a good thing—at least when it comes to your favorite shopping destinations. When prices go down across the entire economy, however, it’s called deflation, and that’s a whole other ballgame. Deflation is bad news for the economy and your money. Defla
P.S. As we have discussed on this board previously, the Fed policy has a huge impact on inflation. Both parties passed bills to pump money into the economy during and shortly post COVID to help prevent recession. This worked, however the Fed failed to act until inflation was well established. The presidential policies don't directly control inflation near as much as the Fed rates and monetary policy.
inappropriate.name
New member
If you are wanting to look at the financial health of the nation then Debt to GDP is a better matrix. Haven't looked but, not sure it will favor either party. In real estate it's location, location, location....in US economics is Debt to GDP, etc. This is what will eventually blow things up.View attachment 8273
Donald Trump (2017–2020)
Average Annual GDP Growth Rate: 2.3%
President Donald Trump had an average annual GDP growth rate of 2.3%. While there were no major wars or recessions during Trump’s presidency, he did face the COVID-19 pandemic in 2020, his last year in office. Trump increased spending and cut taxes, while the Fed raised interest rates in response to Trump’s expansionary fiscal policies.4849
Trump placed import taxes on products from China, particularly steel and aluminum, to boost sales of American-made products. However, it hurt the sales of American exports instead, as China responded by placing tariffs on products it imported from the U.S. It also increased costs for American consumers.50
The economy went into recession with the onset of the COVID-19 public health crisis in March 2020 as businesses closed down and Americans sheltered in place. The recession was short but severe, and the Trump administration responded by declaring a state of emergency and passing a $2 trillion stimulus package called the CARES (Coronavirus Aid, Relief, and Economic Security) Act. The CARES Act provided relief for businesses and individuals through stimulus payments and a pause on student loan payments, among other measures, but it was not enough to pull the economy out of the pandemic-induced recession.
U.S. Gross Domestic Product (GDP) Growth by President
By
Hiranmayi Srinivasan
Updated November 04, 2024
Reviewed by
Samantha Silberstein
Fact checked by
Vikki Velasquez
A U.S. president’s policies can greatly affect gross domestic product (GDP), an indicator used to measure a country’s economic activity. GDP is the monetary value of all finished goods and services produced in a country during a specific period. GDP growth measures the change in GDP between two periods.
Both GDP and GDP growth are used to reflect economic performance during a presidential administration. However, the indicators come with limitations since they can be affected by events and circumstances beyond a president’s control.
Key Takeaways
Essentially, GDP serves as a report card on the overall health of the economy. The metric is closely followed by policymakers, investors, and businesses when making strategic decisions. The White House and Congress use GDP to prepare the federal budget, and the Federal Reserve uses it to make decisions about monetary policy.1
- A president’s fiscal and monetary policies can significantly impact GDP, which is a crucial measure of economic activity.
- President Franklin D. Roosevelt had the highest average annual GDP growth at 10.1% from increased government spending for World War II.
- President Herbert Hoover had the worst annual GDP growth of all U.S. presidents so far at -9.3% due to the Great Depression.
- The biggest drop in GDP growth was in 1932, the worst year of the Great Depression, when GDP growth was -12.9% during Hoover’s term.
In this article, we are using real GDP to show the average annual GDP growth rate by president since it accounts for inflation.
Real GDP is the value of a country’s total output of goods and services adjusted for inflation or deflation.1
Historical U.S. GDP Growth
According to economists, the ideal average annual GDP growth should be 2% to 3% each year.23 President Franklin D. Roosevelt had the highest average annual growth at 10.1% because of increased government spending for World War II. President Herbert Hoover had the worst annual GDP growth of all U.S. presidents so far at -9.3%, due to the Great Depression, which began and lasted through his term. The biggest drop in GDP growth was in 1932, the worst year of the Great Depression, when GDP growth was -12.9% during Hoover’s term.
Rapid GDP growth does not always equal a strong economy—if the economy grows too quickly, it can cause inflation or create a bubble.
At the same time, if the economy slows down too much, and too fast, that can cause a recession. The goal is to maintain the GDP at a steady rate that can be sustained over time, so presidents with average GDP growth of 2% to 3%—which economists consider a healthy range—will have the best growth.
GDP Growth by President
Here’s a breakdown of the GDP growth rate under each U.S. president—starting with Hoover in 1929—and the events that affected each person’s presidency.4
GDP Growth by U.S. President President Years Average Annual GDP Growth Herbert Hoover 1929–1933 -9.3% Franklin D. Roosevelt 1933–1945 10.1% Harry S. Truman 1945–1953 1.4% Dwight D. Eisenhower 1953–1961 2.8% John F. Kennedy 1961–1963 5.2% Lyndon B. Johnson 1963–1969 5.2% Richard Nixon 1969–1974 2.7% Gerald R. Ford 1974–1977 5.4% Jimmy Carter 1977–1981 2.8% Ronald Reagan 1981–1989 3.6% George H.W. Bush 1989–1993 1.8% Bill Clinton 1993–2001 4% George W. Bush 2001–2009 2.4% Barack Obama 2009–2017 2.3% Donald Trump 2017–2021 2.3% Joe Biden 2021– 2.2%
Barack Obama (2009–2017)
Average Annual GDP Growth Rate: 2.3%
President Barack Obama had an average annual GDP growth rate of 2.3%. Obama ended the 2008 recession he inherited with the American Recovery and Reinvestment Act (ARRA), an $831 billion stimulus package passed by Congress aimed at cutting taxes, extending unemployment benefits, and improving infrastructure and education.44 However, Obama is the president who added the most to national debt, in dollar amounts, with his recession relief measures.34
Still, Obama bailed out the auto industry in the U.S. and created 11.3 million new jobs during his two terms. Inflation and interest rates also remained low.45 He also ended the Iraq War and reduced troops in Afghanistan.4647 Obama’s economic policies, now known as Obamanomics, were controversial at the time, and his role in ending the 2008 recession is still debated today.
Donald Trump (2017–2020)
Average Annual GDP Growth Rate: 2.3%
President Donald Trump had an average annual GDP growth rate of 2.3%. While there were no major wars or recessions during Trump’s presidency, he did face the COVID-19 pandemic in 2020, his last year in office. Trump increased spending and cut taxes, while the Fed raised interest rates in response to Trump’s expansionary fiscal policies.4849
Trump placed import taxes on products from China, particularly steel and aluminum, to boost sales of American-made products. However, it hurt the sales of American exports instead, as China responded by placing tariffs on products it imported from the U.S. It also increased costs for American consumers.50
The economy went into recession with the onset of the COVID-19 public health crisis in March 2020 as businesses closed down and Americans sheltered in place. The recession was short but severe, and the Trump administration responded by declaring a state of emergency and passing a $2 trillion stimulus package called the CARES (Coronavirus Aid, Relief, and Economic Security) Act. The CARES Act provided relief for businesses and individuals through stimulus payments and a pause on student loan payments, among other measures, but it was not enough to pull the economy out of the pandemic-induced recession.49
Joe Biden (2021–)
Average Annual GDP Growth Rate: 2.2%
President Joe Biden has had an annual GDP growth rate of 2.2% so far. Biden took office in the middle of the COVID-19 pandemic and signed the American Rescue Plan Act in 2021, which was a $1.9 trillion stimulus package to provide economic relief from the pandemic.51
While the recession caused by the pandemic was severe, it was short-lived. However, it was followed by record-high inflation, partly due to the Russian invasion of Ukraine, which caused soaring gas in 2022, supply chain snarls, higher demand for goods, and increased consumer spending from federal stimulus checks.5253 The Federal Reserve responded by raising interest rates 11 times since March 2022 in an attempt to cool inflation.54 In July 2024, inflation cooled to 2.9%, and the Fed signaled a potential rate cut.
Comprehensive economic data will be available in a few years for Biden’s presidency.
Yep. Every 4 year presidential term out spent the one before it starting with Bush 2001-2005. Data from the current term not quite available yet.
PF5
Ranger
Trump and Biden: Debt Growth | Committee for a Responsible Federal Budget
2024-07-02-We recently
Ok, we get it. Trump acknowledged that grocery prices are high. And he said he's going to bring them down. But he didn't explain how (other than the insanely stupid idea of tariffs). Harris laid out a plan to stop price gouging, because that's the root problem of all this. It may have started as inflation, now it's just corporate greed. And who do you think is better poised to help with that? Her problem is that she laid out a plan. When you have a plan, it can be criticized. When you make generalities, people just nod their heads and say "yea, this guy gets me!".
Way over half of our country has lost critical thinking skills, and has forgotten to ask "why" and "how". When somebody makes a sensational claim, you say "that sounds great, whats your plan? How are you going to achieve that?". I learned that sometime in middle school (in the 49th ranked state for education).
Way over half of our country has lost critical thinking skills, and has forgotten to ask "why" and "how". When somebody makes a sensational claim, you say "that sounds great, whats your plan? How are you going to achieve that?". I learned that sometime in middle school (in the 49th ranked state for education).
mugatu
Ranger
Yes. I know how compounding interest works, and it is why my retirement accounts are and will continue to be super happy about Bidenomics (>30% gain for the last year will compound going forward). That's also why people that compare prices now to 2019 or before are always going to be disappointed.
The Fed should have raised rates a solid year before they did. If they actually acted instead of claiming it would be temporary, this would have stayed under control and we wouldn't have had the spike we did over a couple years.
The danger with trying to get a period of deflation at this point is it becomes self sustaining and is very hard to regulate. That's why the fed targets 2% vs nearly 0. That way if they error low, they aren't at risk of crossing 0.
Don't get me wrong, I was PISSED about inflation, but I'd rather it be controlled and return to stable and my paycheck raise to match than them to try to undo all the price rises that have already happened and risk collapsing it all.
