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The Trump Economy


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Fiscal Year 2020 in Review   ( ending Sept 30  2020 )


The federal government ran a deficit of $3.1 trillion in fiscal year 2020, more than triple the deficit for fiscal year 2019. This year’s deficit amounted to 15.2% of GDP, the greatest deficit as a share of the economy since 1945. FY2020 was the fifth year in a row that the deficit as a share of the economy grew. Revenues in FY2020 fell 1% from last year, while outlays surged 47%.

 

https://bipartisanpolicy.org/report/deficit-tracker/#:~:text=The federal government ran a,of the economy since 1945.

 

Not much borrowing room left for a Green New Deal . States and local gov hurting just as bad. I feel sorry for whoever is elected  to WH next.

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4 hours ago, ALF said:

Fiscal Year 2020 in Review   ( ending Sept 30  2020 )


The federal government ran a deficit of $3.1 trillion in fiscal year 2020, more than triple the deficit for fiscal year 2019. This year’s deficit amounted to 15.2% of GDP, the greatest deficit as a share of the economy since 1945. FY2020 was the fifth year in a row that the deficit as a share of the economy grew. Revenues in FY2020 fell 1% from last year, while outlays surged 47%.

 

https://bipartisanpolicy.org/report/deficit-tracker/#:~:text=The federal government ran a,of the economy since 1945.

 

Not much borrowing room left for a Green New Deal . States and local gov hurting just as bad. I feel sorry for whoever is elected  to WH next.

The 5th year, meaning the last time it didn't happen was when the President was not Trump?

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6 hours ago, Tiberius said:

Market in free fall right now 

 

It's fueled by the upsurge in coronavirus cases and hospitalizations that have spooked investors.   It's the third day of major decline, and wasn't unexpected.

 

Undoubtedly, we'll soon hear Covid Donnie on his Pandemic Hotspot Tour bragging on how great the stock market is doing now that his administration has ended Covid pandemic, which was really all a hoax anyway.

Edited by SoTier
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Nationwide, the U.S. state budget shortfall from 2020 through 2022 could amount to about $434 billion, according to data from Moody’s Analytics, the economic analysis arm of Moody’s Corp. The estimates assume no additional fiscal stimulus from Washington, further coronavirus-fueled restrictions on business and travel, and extra costs for Medicaid amid high unemployment.

 

https://www.foxbusiness.com/markets/us-states-face-biggest-cash-crisis-since-the-great-depression

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14 hours ago, SoTier said:

 

It's fueled by the upsurge in coronavirus cases and hospitalizations that have spooked investors.   It's the third day of major decline, and wasn't unexpected.

 

Undoubtedly, we'll soon hear Covid Donnie on his Pandemic Hotspot Tour bragging on how great the stock market is doing now that his administration has ended Covid pandemic, which was really all a hoax anyway.

 

It has way more to do than just Coronavirus.  People are getting out before Biden tanks it.  Wait till its official and there really is a mass sell off.  The millionaires and billionaires that control the market will want to take advantage of the LT gain tax that Biden will get rid of.

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...an easily projected  response......just politically deny the short term healing that is happening, SHORTER than anticipated.....SMH.....

 

Biden dismisses record economic growth as not 'nearly enough' to dig out of 'deep' recession

Trump campaign says president is 'rapidly' rebuilding 'world's best economy'

By Evie Fordham | Fox News

 

Democratic presidential nominee Joe Biden dismissed the U.S. economy's record-shattering growth as not "nearly enough" to get the country out of a "deep hole" on Thursday.

 

"This report underscores three inescapable truths about Donald Trump’s economy: we are in a deep hole and President Trump’s failure to act has meant that Q3 growth wasn’t nearly enough to get us out of; the recovery is slowing if not stalling; and the recovery that is happening is helping those at the top, but leaving tens of millions of working families and small businesses behind," Biden said in a statement.

 

Gross domestic product, the broadest measure of goods and services produced across the economy, surged by 33.1% on an annualized basis in the three-month period from July through September, the Commerce Department said in its first reading of the data Thursday. The previous post-World War II record was a 16.7% increase in 1950.

 

The economy had contracted at an annual revised rate of 31.4% in the previous quarter, the sharpest decline in modern American history, and the economy remains 3.5% smaller than at the end of 2019.

 

The GDP data, released Thursday morning, was one of the last major economic indicators to come out ahead of Election Day on Tuesday. Another key indicator, weekly unemployment claims, showed that the number of Americans filing for claims fell under 800,000 for the first time since March.

 

More than 65 million Americans ‒ roughly 40% of the nation's labor force ‒ have sought jobless aid since the coronavirus lockdowns began in mid-March.

 

https://www.foxnews.com/politics/biden-record-gdp-growth-3rd-quarter-not-enough-trump-response

 

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2 hours ago, ALF said:

According to the US Census Household Pulse Survey, by the end of October, 9.9 million Americans were not up-to-date on their rent or mortgage payments and had little to no confidence that their household could pay next month's rent or mortgage on time.

 

https://www.cnn.com/2020/10/30/us/housing-insecurity-rent-relief-help-iyw-trnd/index.html

 

But the stock market is soaring, so everything's great, right?????   

 

Newsflash:  the stock market is likely to finish this past week as its worst since March.

 

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On 10/27/2020 at 12:33 PM, Tiberius said:

This is on Trump’s watch. Dems clean up Republican messes 

 

I'm sure they are all Trump supporters on the council

 

https://whyy.org/articles/philly-city-council-passes-ban-on-use-of-tear-gas-rubber-bullets-at-protests/

 

Dems are allowing this, and it will backfire on them. #Trumplandslide2020

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On 10/27/2020 at 12:42 PM, Unforgiven said:

 

and another innocent citizen shot wielding a knife 

 

socialist utopia

 

No laws

Free stuff.

Anarchy.

 

Best economy ever amirite?

 

But lets get back and focus on what this man is doing for god sake

 

You do know that Trump is the one in charge while this is all happening...

 

You keep posting these crimes and all the while it's Republicans running the country...

 

Edited by TBBills
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