Democrats’ Big Lie #3671 – America’s economy

George Rebane

In the lead-up to the 2020 election, our Left has marshalled their legion of liars to spread the word to the lightly read that Trump’s revamping of our economy to historical levels has not happened, and that only the top 1% derived any benefit from the tax cuts and regulation rollbacks.  This kind of concerted lying campaign does immeasurable harm to the lower half of the IQ curve, causing these folks to vote against their own self interests.  But that makes no never mind to our progressive Democrats; do whatever keeps and increases your power, and bamboozling the snuffies has always been part of the drill.

It’s instructive to take a look at the magnitude of this particular stream of lies from the Left that started back in Obama’s time when we were assured that a max of 2% annual growth was going to be “the new normal”.  And, of course, Team Obama demonstrated that dictum over his tenure which averaged growth under 2%.  These people pulled every trick in the book to stifle the economy and keep workers’ wage growth essentially flat, all the while lying that they were helping the little guy and middle class.  The little guys took it in the shorts also as the Dems boosted the minimum wage wherever possible so as to make the lower rungs of the economic ladder ever more inaccessible to our unskilled and youngest workers starting their careers.

Conservatives and capitalists have known for generations that a rising tide lifts all boats, in direct contradiction to the Left’s teaching that the only friend of the poor and unskilled is big and bigger government.  Here’s a graphic from the Bureau of Labor Statistics to demonstrate the difference between Obama and Trump (filched from the 5jul19 WSJ).

By 2012 it was clear to most Americans that Obama was a socialist who had little interest in implementing demonstrated economic principles to recover the economy from its 2009 Great Recession lows.  I waxed eloquently on this in my ‘What Recovery?’ essay.  In that piece I presented a clear and concise systems flow diagram for how the GDP is calculated from its major components.  It even pointed out how and where the government just pisses away generated wealth.

Most of us don’t have a clue when talking about economic recovery and growth.  Recovery is in the eyes of the beholder, and economic growth is not experienced as a one size fits all – different sectors benefit differentially from any given level of quoted aggregate growth, as the following graphic illustrates.

America’s economy has grown in a remarkably constant range of 3.3-3.4% annually from 1880 to 2008 on the eve of the Great Recession.  To explain the different recovery flavors, I indicated such an exponential growth as the green line in the above graph taken from ‘The Recovery Rigamarole’.  The arbitrary GDP amounts shown vary as a function of time, say, in years.  At year 40 a recession/depression occurs that takes the GDP from around 225 down to 135 over a ten year period.  At year 50 the economy begins to recover.  But from there several 'recovery' paths are possible, three of which (R1, R2, R3) are shown.  At this point it’s important to keep in mind that if the economy’s dip (red line) did not occur, then it would have continued growing at its long term (green line) rate – e.g. at year 50 it would have been about 265.

R1 is clearly a true recovery that regains the long-term growth curve.  R2 is a more tendentious recovery that does achieve the pre-recession growth rate, but perennially lags the sans recession GDP growth trend.  And finally, R3 is at best a propagandized faux recovery, achieving neither the pre-recession growth rate nor its long term trend.

The continuing dissemination of this Big Lie about Trump's economy by the lamestream is one of the most visible pieces of evidence for the ongoing progressive propaganda onslaught through the auspices of fake news.

 

Comments

[Walt]

And look who tries to take credit for Trump's roaring success.
https://www.lifezette.com/2019/05/biden-tries-to-take-full-credit-for-trumps-economic-accomplishments/

"Former Vice President and 2020 Democratic candidate Joe Biden took full credit on Saturday for the positive United States economy we’re currently experiencing.

He even claimed President Donald Trump was “squandering” the success of “the Obama-Biden administration.”

Biden made a passionate appeal for national unity on Saturday but also took aim at Trump, branding the president a “divider-in-chief” who must be ousted in 2020."

But I do believe people know better.

[fish]

Posted by: Walt | 10 August 2019 at 01:31 PM

The campaigns internal polling must really be bad for him to go there....

[Paul Emery]

George

If the economy is so great why is there a Trillion dollar a year deficit? Also in your view did the tax cut pay for itself with increased revenue as promised by Trump?

[Don Bessee]

Why you keep a death grip on the title of the great pony tail of ignorance @ 255!

;-)

[George Rebane]

PaulE 255pm - the economy and govt deficits are largely decoupled. No, as we have previously circled this barn, the tax cut did result in increased revenues, but the deficits continued to increase beyond that. As a progressive, you should know exactly how that happens.

[Jig Wiggly]

P: did the tax cut pay for itself?
G: the tax cut did result in increased revenues,

Paul- Your question and its answer are largely decoupled

[Paul Emery]

So did Trump lie when he claimed the tax cuts would pay for themselves or was he merely incompetent or given bad advice?

[Don Bessee]

So whos flag is the pony tail of ignorance flying this election? Comrade Bernie or fauxcahantas??

;-)

[Paul Emery]

My 3:40 is meant for George.

[Bill Tozer]

“My 3:40 is meant for George”

How can it be meant for George when Don wrote the 3:40? Time for a nap in wrinkle village.

[Paul Emery]

Bill

I congratulate you, you finally said something true. My mistake. It was my 3:20 that was meant for George.

[fish]

Posted by: Bill Tozer | 13 August 2019 at 04:18 PM

Time for a nap in wrinkle village.

Ouch…..

[J. Barron]

I thought RR was wrinkle village.

[fish]

Posted by: J. Barron | 13 August 2019 at 05:10 PM

I thought RR was wrinkle village.

Oh it is J, it is…..much like The Union, NC Peeps and RL Crabbs page!

Time to face reality "Quaintytown" is "Wrinkle Village"…..gods waiting room for fading west coast hippies and other assorted ne'er do wells!

[Don Bessee]

Emperor Xi has no robes -

https://www.marketwatch.com/story/new-poll-shows-60-of-americans-have-an-unfavorable-view-of-china-2019-08-13?siteid=yhoof2&yptr=yahoo

;-)

[George Rebane]

PaulE 320pm - You've asked that question innumerable times, and I have answered it at least three times. Time to turn the page.

[Walt]

Don't fret Emery,, you will never have to pay for it.

[Bill Tozer]

Re: recovery flavors.

The r1-r3 lines are quite telling. Studies have shown that when someone enters the workforce during a recession, their lifetime earnings will be less than someone entering the workforce (even in the same field, even at the same job) during times of economic growth. Which may also explain in a small part why we are now seeing a generation of renters, tracing its roots back to the early days of the Great Recession.

[Paul Emery]

So why not write a post George and call it “Trumps big lie” ?

[Don Bessee]

Why don't you get your own blog or give Liberal Lament Land a try or even the Union. Somehow I would expect it to just be 750 words cut and pasted from talking points for lefties @ 614-

;-)

[George Rebane]

PaulE 614pm - I've already called Trump out on that slip of the lip in previous posts. I don't want to make too big a deal out of it because 1) it is a garden variety campaign promise promised by all politicians (witness the bigger lies by Dems that the green economy will enrich rather than pauper our economy), and 2) because I am a partisan ideologue who favors Trump, warts and all, immeasurably over the socialist rascals from which the Democrats promise to pick their candidate for president. In the event it has escaped you, RR is a blatantly biased blog of the conservetarian hue that always invites criticism of its supporting credo and the tenets of what I modestly refer to as Rebane Doctrine.

[George Rebane]

BillT 614pm - Yes indeed Mr Tozer. Obama gave us a R3 'recovery', and Trump has been able to convert it into an R2 economy. Sadly, I don't think that our achieving R1 in the future is in the cards, no matter who is president.

[J. Barron]

GR 6:39
Well done. Refreshing post. I don't mean that with any sarcasm what so ever. I wonder if Todd could ever write anything approaching that level of honesty.

[Don Bessee]

Speaking of lying socialist dems, they can be entertaining but ya gotta love the fast response from the Trump campaign monetizing cnn's fredo! -

https://news.yahoo.com/trump-campaign-sells-fredo-unhinged-210606267.html

;-)

[Paul Emery]

“Slip of the lip” George ? The whole pitch on tax cuts was that they would more than pay for themselves and they would balance the budget and pay down the deficit. How is that different than Obama’s claim that you can keep your doctor under Obamacare?

[J. Barron]

He lied, Paul. Trump's tongue wriggles, it's a lie in the making.
Obama lied too, but at least he was honest about it.

[fish]

Posted by: Paul Emery | 13 August 2019 at 06:58 PM

WAIT!!!! You didn't vote for Obama…..

[Walt]

Desperation is setting in on the resident Commies.

[fish]

…..the second time!

[fish]

….and thanks in advance.

[Don Bessee]

Even the masters of the universe are in on the joke now, at lest the AI part! -

https://www.breitbart.com/tech/2019/08/13/apple-siri-refers-to-cnns-chris-cuomo-as-fredo-in-apparent-glitch/

;-)

[Walt]

OK,, THIS might get some votes for crazy Burnie
https://www.cnn.com/2019/08/09/us/bernie-sanders-aliens-trnd/index.html
"Bernie Sanders says that if he's elected, he'll reveal whether aliens are real"
And on the long shot chance he does,,," You sure are a bunch of suckers!"

[Paul Emery]

Yes I didn't vote for Obama the second time fish. Are you going to vote for Trump the second time??

[Walt]

Emery. ONCE was enough. And HELL YES we will vote for Trump.
Which Commiecrat is your loser?

[Gregory]

Walt 744pm

It doesn't matter who you vote for as there are two possible outcomes in Nov 2020:
1) California gives up all of its electors for the Dem candidate, or
2) California gives up all its electors to Trump but it doesn't matter because of a McGovern style blowout... the election get's called the moment the East coast states polls close.

You might as well sell your vote for sexual favors. Choose a gender and have fun. Madonna might give the same deal in 2020 but I think there's local talent that might and the Material Girl might be past her pull date.

/sarc off

[fish]

Posted by: Paul Emery | 13 August 2019 at 07:40 PM

Are you going to vote for Trump the second time??

His second time?

[Walt]

Ya' got a point G, Ca. is pretty much irrelevant.
Yup,, lets see who's wearing the kneepads this time around.

Emery seems to be a Burner. Maybe just a whoever the wind is blowing for at the moment.

As for Iowa,, the corn count is interesting. trump is only down by 12, against ALL the Commicrats.

[Bill Tozer]

Sounds like the Lefties want their tax cut back. No. No is a complete statement.

Oh yeah, topic, the Right walks for less government and the Leftinistas march for more.

Looks like none of us here could hold our noses and vote your Hildabeast. Fish, Gregory, Paul...nobody. No one here could ever sink so low and sell their souls. Bet the White popinjays’ Dream Team here is Biden-Minnesota Nice Amy. Bobbie loves Bernie.

They said the reason why Biden wanted Mueller to testify because it would make Sleepy Joe look good by comparison. He is in the same position now as when Obama picked him, playing the role of the token old white guy.

[Walt]

Only Emery and half/jigger ("jon") would vote to raise their taxes... Just out of spite. And Joe saying he will end those tax cuts? Yup,, that will get him in the W.H. Let's bring the economy to a screeching halt. People back on unemployment and the gov. dole. That's just where the elected Proggys want them.

[Jig Wiggly]

Walt 8:20
You have the political aplomb of a starfish. If Trump isn't on the California ballot, how many Pubbers will even bother to vote? Trump isn't the only right winger on the ballot and his loss will be every progressive's gain in the Golden State. It has nothing to do with tax returns and everything to do with encouraging Pubber apathy.

[Walt]

Nice try jiggered. The ballots haven't even been printed yet.
And the VERY pretty Gavin's little scam to get his taxes is not going to fly.
But keep blowing that unicorn.

[Don Bessee]

Are you going to have some bree with that whine? @849?

;-)

[Jig Wiggly]

Walt 8:20
'scuze me while I reprint your quip, " Ca. is pretty much irrelevant." Yup, eggzactly what we want all pubbers to say, say it again, and say it loud.

Your little dust up about ballots not being printed and Gavin isn't going to get his taxes, is nothing but hot air trying to cover up your admitted slip about pubber apathy. Have another pull of your Old Crow and tell the world how you really feel.

[Walt]

WOW!! Smoking crack AND meth at the same time half jigger?
Forget Trump didn't take Kalif. the last time?
Better figure out how the voting process works.
Your knowledge of election day is as messed up as your anti gun bullshit.

[Walt]

This will change jigger's vote.
https://www.breitbart.com/politics/2019/08/13/elizabeth-warren-affordable-gender-affirming-health-care/
"Sen. Elizabeth Warren (D-MA) called for health care that is high-quality, affordable, and “gender-affirming” in a tweet posted Tuesday afternoon. However, she has not always held that position.
Warren tweeted Tuesday that Americans are entitled to “high-quality, affordable, gender-affirming health care” and criticized the Trump administration for considering a proposal that would revise Obama-era protections for transgender adults, who make up 0.6 percent of the U.S. population, according to government data."

[Bill Tozer]

If you want to see apathy, go to a Biden rally or whoever the nominate the DNC pukes out onto the party, roflmao. We got all the enthusiasm on our side and we be a rocking and foot stomping and knee slapping and taking it to the House. We don’t need cheerleaders, we got the rhythm. The Lefties got angry faces with veins bulging out their necks and a whole boatload of negativity. Bet it’s a replay of Kerry in 2004 or Hildabeast in 2016. Apathy, stay home.
The Dems are like no energy Jeb right now. Each time one of them opens their mouths, the phone is ringing to bring in another pitcher from the bullpen...the empty bullpen, lol.

Looks like all they have is the JV team. Sleepy “oh, thats just Joe being Joe” Joe. The Dirty Cop that not even the blacks can get excited about. I don’t see one Dem voter doing one single cartwheel anywhere for any of that glum disgruntled lot. Them be as terminally disgruntled as a US Postal Worker. They have gone postal, but with half the energy. Implosion. Best they walk around and eat corn dogs at the Iowa State Fair. They might pick up some enthusiasm by osmosis. Mercy.

[Bill Tozer]

Polls. Biden up.

https://patriotpost.us/cartoons/27676