Trump's 1st economic report card: Slowest growth in 3 years
I thought that this article was a interesting read. There are many people out there that are saying that trump is doing so great for the United States economy and we are growing faster then any other president in the past years, well as this article talks about that isn't true. The U.S economy only grew at an annual pace of 0.7% in the first three months of the year, according to the Commerce Department's report on gross domestic product, the broadest measure of economic activity. It was the slowest quarter of growth since the first quarter of 2014. Weak consumer spending was the main culprit for the anemic growth, which has become routine for the US economy since the Great Recession ended in 2009. Since then, the US has averaged about 2% annual growth. It will be interesting to see if and how trump will turn his performance around to make sure that the next quarters growth is better and closer to the 3% he is aiming for.
link: http://money.cnn.com/2017/04/28/news/economy/us-gdp-q1-2017/
6 comments:
It is interesting that consumers are saving more than spending. Participation in the economy and perceptions of the economy are important and something that President Trump should be concerned about. He campaigned based on being a business man so it will be interesting to see if he can bring up consumer spending and consumer perceptions about the market and get a growth rate to around 3%
I think over the next year or so we will have a better idea of how Trump's polices/decisions in office influence the overall economy. I do think the economic situation that presidents step into often gets attributed to him whether he had anything to do with it or not (speaking in general terms, not just Trump). It seems like presidents get to much blame and too much credit for how the economy is performing.
As much as I hate to say this I do agree that it is too early to analyze the economy in Trump's era seeing as he has not brought about any actual changes and is mostly all talk and has these big plans which he has not followed through with. I agree with Sam, Trump in this cannot be blamed for the way the economy has been and its slow growth. Economies much like anything else take to time to adopt changes and we see its results much later on then when the changes are implemented. Although I do not have very much hope for our economy under Trump, I do think we need more time to see how our current president and his administration influence our economy.
Trump has seized on a new issue almost every day, or every hour, if the tweets are counted. I think it might be a better idea for him to focus on one main thing at a time, like what President Reagan did on his tax cut package, which he focused on exclusively in his first 100 days. I am very interested in seeing if Trump is going to achieve his goal of "making America great again", or any of his big promises.
The first 100 days aren’t about getting everything done. It’s about learning to be president. Trump, who once boasted he could run his business empire and the country at the same time if he so chose, piece of cake, found out quickly what a difficult job he won. The first 100 days mean little. Trump’s real test will be delivering enough of what he promised in his first two years to protect Republicans in the mid-term election. He has the potential to do so, if he can maintain focus and discipline.
I don't think we can determine what the future of the economy will be just yet, what I'm mostly concerned about is the lack of admission of failure. He is incredibly proud of his time in office and doesn't seem to be changing anything that he is doing which concerns me more than anything. He brags about being adaptable but I haven't seen it yet.
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