Low growth projection by Fed - more cold water thrown on Trump’s “great economy” lie

bdtex said:

Of course we obviously need more tax cuts and military spending. That's the ticket. Guess Infrastructure Week is gonna have to wait a little longer.

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bdtex said:

Of course we obviously need more tax cuts and military spending. That's the ticket. Guess Infrastructure Week is gonna have to wait a little longer.

Wait a minute.... it's the hordes of bad hombres invading our open borders that are f**king everything up.

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Bugsy McGurk said:

No one questions Trump’s skills as a carnival barker. As a snake oil salesman. And he freely deploys those skills when it comes to the economy.

“The greatest economy in history!”, he lies. Way better than the Obama economy, he lies some more.

Of course, Trump has yet to match quarterly growth rates achieved under Obama. And he just matched the best annual growth rate achieved under Obama, after inheriting Obama’s ever-growing economy.

Jobs? Well, more jobs were created in Obama’s last two years than in Trump’s first two years. And last month we had barely any jobs growth at all - a very anemic number in the 20,000 jobs range.

But, say Trump and his assistant liars, future growth will be better. He even projects growth over 3% for many years to come when putting out his very phony budget outline.

Alas, the Fed does not lie for Trump. And they project a growth rate of a mere 2.1%.

https://www.google.com/amp/s/www.politico.com/amp/story/2019/03/20/federal-reserve-reject-trump-interest-hike-1230333

Not that this will stop Trump. Carnival barkers and snake oil salesmen can never be honest. Their job is to lie and exaggerate. But the Fed is not in on Trump’s constant campaign of deception. Perhaps more Americans will now wake up to the games of the fraudster-in-chief?

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UPNYA2 said:

Uhhhhhhhh………...Now FAR be it from little 'ol me to come across as pissin' on this pathetic loony lefty "Hate on Trump" frenzy you guys have going here, but I just gotta ask ya, skippy……………..

In your post you stated, "..say Trump and his assistant liars, future growth will be better. He even projects growth over 3%.."

And you also stated, "Alas, the Fed does not lie for Trump. And they project a growth rate of a mere 2.1%.".

BOTH speak of things being "PROJECTED".

Both PROJECTIONS of growth are within 1% or less of each other.

In the first statement, the one that could be viewed as being more, "pro Trump", you state the group making this PROJECTION are "LIARS".

In the second you make it a point to state the group making the PROJECTION, "does not LIE".

So exactly how is it that you dems/libs, in all of that glorious, wonderful, (all be it self-professed), uber-enlightenment, can view two PROJECTIONS, (as in "guesses"), and somehow, just magically "know" that one is correct and the other is not?

AND, exactly how is it that you dems/libs, in all of that glorious, wonderful, (all be it self-professed), uber-enlightenment, can view two PROJECTIONS, (as in "guesses"), and somehow, just magically "know" that the group making one are "LIARS" and the group making the other, "does not lie"?

By definition a "PROJECTION" can NOT ever actually BE a "lie", for you see, a lie is telling an untruth while a projection is guessing what may happen, it can neither be proved true nor false until later, after it has already happened.

You self-righteous, overly pompous ass.

(You really should climb on down off that cross you have nailed yourself to and lay off the preaching, hoss, it doesn't fit you anywhere NEAR as well as you seem to believe.)

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Bugsy McGurk said:

There’s a great series on PBS about the war on cancer. One central point is that there are truly promising pure research projects to be done (gene therapy, immunotherapy and the like), but agencies like the NIH are starved of funding. Meanwhile, Trump and the GOP have given more massive tax cuts to fatcats, and want to give even more, when a very small slice of that money could actually result in a cure for cancer.

And yet the GOP rabble supports such things. They could literally be supporting their own painful, premature deaths, without even knowing it.

Sheer madness.

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RickWA said:

2016 - NIH - $32.3B
2017 - NIH - $33.1B
2018 - NIH - $37B
2019 - NIH - $39B
2020 - NIH -$34.4B (proposed budget)

Given that the proposed 2020 budget is significantly greater than Obama’s funding for that agency...did President Obama “starve the NIH for funding”?

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Bugsy McGurk said:

Such a strange way to describe Trump’s proposed $5 billion cut in NIH funding (not all of which goes to cancer research). Your only “defense” is to cite past increases to keep up with inflation.

Very lame hackery. But hey, Trump and the GOP need to give some $1.5 trillion in new tax cuts to the fatcats.

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RickWA said:

Just so we’re clear, the funding level - which exceeds that of ANY YEAR OF OBAMA’S eight year administration - causes “starvation” of the NIH.

Did I capture that properly? This is your contention? Despite the fact that the current administration escalated NIH funding, and is KEEPING IT HIGHER than at any point of the BHO Administration, it now represents “starving” the agency.

“Hackery” indeed.

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Bugsy McGurk said:

You repeat your hackery, pointing to past increases to keep pace with inflation, while ignoring Trump’s proposed $5 billion cut, while also ignoring his $1.5 trillion in new tax cuts for the fatcats.

I’m sure you know how deplorable your hackery is.

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RickWA said:

Heh. Inflation to the tune of $BILLIONS.

Gotta love the DNC-paid hackery. Non-Democrat’s “starve” the NIH when they fund it in more REAL dollars than the Democrat did.

Nice work. :-/

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Bugsy McGurk said:

Yup. There is inflation. It leads to an increase in such spending to keep pace.

But no worries - Trump proposes to slash NIH funding by $5 billion to help pay for his $1.5 trillion in tax cuts for fatcats.

And yet you support it. You even willingly ignore it.

Like I said above, you people literally support Trump/GOP insanity that could cost you your lives. Slow, painful deaths from cancer. So deeply ingrained is your GOP cultism.

Remarkable.

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RickWA said:

The Obama economy has yielded inflation on the scale that requires THOUSANDS OF MILLIONS of dollars in year-over-year increases, eh? What’s that inflation rate you’d like to cite, Bugsy?

As I noted, post-Obama the NIH has seen its funding BOOSTED in real dollars. You don’t get to weasel out of this one. Was Obama “starving” the NIH?

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Bugsy McGurk said:

Your denial of inflation and its impact on federal spending is tedious, not to mention idiotic.

And it’s also irrelevant to my point, which is that cancer researchers are now starved of the funding they currently need to fully explore them. You ignore the point and inanely babble about the past. And as to the point, Trump proposes to slash NIH funding by some $5 billion. Which you just ignore, as your Trump/GOP hackery requires you to do.

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Bugsy McGurk said:

Your denial of inflation and its impact on federal spending is tedious, not to mention idiotic.

And it’s also irrelevant to my point, which is that cancer researchers are now starved of the funding they currently need to fully explore them. You ignore the point and inanely babble about the past. And as to the point, Trump proposes to slash NIH funding by some $5 billion. Which you just ignore, as your Trump/GOP hackery requires you to do.

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RickWA said:

Nope. No dice. You stated that the NIH “is being starved” of funds under a non-Democrat when it receives MORE in REAL dollars than it did under a Democrat.

Your DNC-paid hackery is exposed YET AGAIN.

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Bugsy McGurk said:

You just keep repeating the same drivel and ignoring the point.

The utter intellectual dishonesty we have come to expect from Trump/GOP cultists.

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Days said:

Bugs, has it ever occured to you that the "growth" you claim didn't happen is the same as the "inflation" you claim did happen? Economic growth is the inflation of money in circulation. That's all it is.

So, let's look at your argument on the NIH. Here you claim that a 18% increase in budget was merely necessary to keep pace with interest. This after stating that Trump's economic growth was anemic. So, first you say the growth didn't happen, then you claim it was 18%. We really did have 18% inflation back in Carter's days, the oil cartels caused that by restricting supply, spiking the price of oil. Remember Gerry Ford's WIN buttons? (Whip Inflation Now)

So, here's another example of your politics telling a whopper of a lie.

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Days said:

What was the point?

damned if I can recognize anything remotely close to reality in anything you posted in this thread.

The FED frickin' lowered the target interest rate to 2%. Do you even understand what the consequences of that are? It means they will maintain interest rates at a level to starve growth to 2%. That isn't a projection, that's a game plan.

The way to do that is to raise rates. When you raise the cost of money, it costs more to do business and it kills profits, killing growth.

I gotta ask; why do you try to post about money?

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