Tag: Trump economy

Workers Haven’t Benefited From Economic Growth

Last week Trump will try to boast about the economy, but the reality is that economic growth is not expected to continue at the same rate and workers have not benefited.  Workers’ wages have actually decreased over the past year.

Economists said Q2 GDP growth was artificially high and economic growth would not continue at the same rate after this quarter.

CBS News: “An ‘idiosyncratic’ quarter: Not even bullish economists expect the pace of the second quarter’s growth to continue, however, because it’s driven by ‘a number of idiosyncratic factors that are unlikely to be sustained in the second half of the year,’ according to Morgan Stanley.” Continue reading “Workers Haven’t Benefited From Economic Growth”

The Coming Trump Slump

The following article by Benjamin P. Edwards and Sarah C. Haan was posted on the U.S. News and World Report website September 22, 2017:

Trump’s tumultuous presidency is damaging the U.S. economy.

Credit: Spencer Platt/Getty Images

Despite President Donald Trump’s asserted focus on job growth and the business environment, his administration is damaging the fundamentals undergirding U.S. economic growth. A slowdown seems likely because Trump’s fractious months in office have already degraded the nation’s business and investment environment.

Contrary to Trump’s belief, controversy-generating reality television strategies do not generate good governance and growth. While the president promised Guam’s governor that tourism would go up “tenfold” because of media attention from his Twitter tirades about North Korea, the numbers tell a different tale. The war of words cost Guam’s tourism industry $9.5 million last month. It appears vacationers would prefer to avoid possibly atomic attractions. Continue reading “The Coming Trump Slump”

The economy President Trump loves looks a lot like the one candidate Trump hated

The following article by Damian Paletta and Ana Swanson was posted on the Washington Post website July 3, 2017:

President-elect Donald Trump and President Obama arrive for Trump’s inauguration ceremony at the Capitol in Washington, D.C., Jan. 20. (J. Scott Applewhite/AP)

Despite bravado and big promises, the economy that President Trump is touting this week looks a lot like the one he lambasted as a candidate: a slow, largely steady grind that has chipped away at the damage done by the 2008-2009 recession but failed to produce the prosperity of decades past.

Now, as he approaches the six-month marker of his presidency, Trump faces several new warning signs that key areas of the economy could be losing steam, including in industries he specifically promised to revitalize. Continue reading “The economy President Trump loves looks a lot like the one candidate Trump hated”