- Joined
- May 4, 2007
- Messages
- 21,629
- Reaction score
- 3
Obama took over at 6k, how could it not go up?
It was growing under Obama. It's booming under Trump. Again, 2nd faster thousand points in history.
For the record, I'm not your Google, but since it's so easy to find. How about these, responsible for booming energy sector. Also, so far it's been 16/1 on regulations.
http://www.washingtonexaminer.com/t...new-one-crushing-2-for-1-goal/article/2629177
MUCH NEEDED REFORM: The past Administration burdened Americans with costly regulations that harmed American jobs and energy production.
AMERICAN ENERGY INDEPENDENCE: President Donald J. Trump’s Energy Independence Policy Executive Order reverses the regulations on American jobs and energy production.
- The previous Administration’s Clean Power Plan could cost up to $39 billion a year and increase electricity prices in 41 States by at least ten percent, according to NERA Economic Consulting.
- The Clean Power Plan would cause coal production to fall by 242 million tons, according to the National Mining Association.
- 27 states, 24 trade associations, 37 rural electric co-ops, and 3 labor unions are challenging the Clean Power Plan in Federal court.
FREEING AMERICA’S POTENTIAL: President Trump has worked tirelessly to free American industry and ingenuity from the constraints of Government overreach.
- President Trump’s Executive Order directs the Environmental Protection Agency to suspend, revise, or rescind four actions related to the Clean Power Plan that would stifle the American energy industry.
- President Trump’s Executive Order directs the Attorney General to seek appropriate relief from the courts over pending litigation related to the Clean Power Plan.
- President Trump’s Executive Order rescinds Executive and Agency actions centered on the previous administration’s climate change agenda that have acted as a road block to energy independence.
- President Trump’s Executive Order lifts the ban on Federal leasing for coal production.
- President Trump’s Executive Order lifts job-killing restrictions on the production of oil, natural gas, and shale energy.
- President Trump’s Executive Order directs all agencies to conduct a review of existing actions that harm domestic energy production and suspend, revise, or rescind actions that are not mandated by law.
- Within 180 days, agencies must finalize their plans.
- President Trump’ Executive Order directs agencies to use the best available science and economics in regulatory analysis, which was not utilized by the previous administration.
- It disbands the Interagency Working Group (IWG) on the Social Cost of Greenhouse Gases.
- By revisiting the federal overreach on energy regulation, President Trump is returning power to the states – where it belongs.
- President Trump has signed four pieces of legislation to clear burdensome and costly regulations on energy production from the previous Administration.
- President Trump has required that for every new Federal regulation, two existing regulations be eliminated. (16/1 so far)
- President Trump has directed each agency to establish a Regulatory Reform Task Force to identify costly and unnecessary regulations in need of modification or repeal.
- President Trump has directed the Department of Commerce to streamline Federal permitting processes for domestic manufacturing and to reduce regulatory burdens on domestic manufacturers.
- President Trump signed legislation, House Joint Resolution 38, to prevent the burdensome “Stream Protection Rule” from causing further harm to the coal industry.
- President Trump ordered the review of the “Clean Water Rule: Definition of Waters of the United States,” known as the WOTUS rule, to evaluate whether it is stifling economic growth or job creation.
- President Trump signed a Presidential Memorandum and gave a Presidential permit to clear roadblocks to construct the Keystone XL Pipeline.
- President Trump signed a Presidential Memorandum declaring that the Dakota Access Pipeline serves the national interest and initiating the process to complete its construction.
I think you underestimate just how large the US economy is. None of those regulations are going to have the type of impact you're implying (especially not in such a short amount of time).
First and second quartery earnings reports for businesses surpassed expectations.
The stock market has been trending up for years. Trump has been in office for such a short time, the impact of his policies haven't even come to fruition.
Additionally, wages have fallen flat.
Labor participation hasn't gone up either.
GDP growth is about average. The boast that 2.6% second quarter is somehow remarkable is false. Predictions from earlier placed it higher, expecting it to rebound from a very low first quarter.
In fact, the economy has grown 2.6 percent or more in 81 of the 145 quarters since Ronald Reagan became president, including 14 times during the Obama administration.
https://www.nytimes.com/interactive...conomy/the-economy-under-president-trump.html
The economy is doing well, but it's not doing drastically better than expected.
Just to reiterate;
- stock prices rose because of strong quartery earnings. I'm sure some optimism for tax cuts helped. We'll see how that plays out.
- wages are about the same
- labor force participation hasn't gone up.
- GDP growth is strong after a poor first quarter, but not unprecedented. 81 of the past 145 quarter have seen 2.6% growth or more.
- The global economy as a whole has been on the rise, which has a significant impact on our economy.
We have an economy of almost $20 trillion. None of the regulations Trump slashed can be given credit for the sucess of the economy. I'm sure they didn't hurt, but none are significant enough to provide the positive trends we'really seeing.
I know Trump is your guy, but things have been going well for some time, and unless he completely screws the pooch, will continue to do so for the foreeable future.