Dems take over the House of Representatives and less than a year they're crashing the economy. Who didn't see this coming?
- Anonymous6 months agoFavorite Answer
Dems would prefer China turn the U.S. into its puppet and control our every movement.
- tigeressLv 76 months ago
Trump campaigned claiming to be a successful businessman but it was all a big fat lie. He filed bankruptcy seven times, lied about his assets and was blackballed by US banks.
Trump took a thriving economy and destroyed it in his first two years, long before the Dems took control of Congress.
Under Trump, the Farmers are losing their livelihoods. They lost their best customer, China, and then Trump signed a bill allowing big oil to use less corn in their product.
Big Coal filed bankruptcy and hundreds of coalminers paychecks bounced. There are massive layoffs in the steel industry while Trump buys steel from Russia for the Western oil pipeline that is destroying the environment and groundwater.
Moscow McConnell took 200 million from an indicted Russian steel oligarchy, and close friend of Putin, in return for lifting the sanctions on his bank accounts. The next day the Russian criminal sent millions to Russia--in his children's names.
Trump has bankrupt the US with his huge tax breaks for the wealthy who didn't even need them. Trump did all of these things long before the Dems took control of Congress.
- Anonymous6 months ago
Who did not see this coming as a result of the election of the Democrats? Anyone with intelligence since the main actions affecting the economy have all come from Trump and his administration. With the exception of the tax bill, which gave about 80% of the benefits to the ultra rich and large corporations and the remaining 20% to the working class (and led to an $80 billion increase in their overall tax bill if not more) the major factors affecting US economic growth have all been in the form of Executive Orders and Trump Tweets. As a matter of fact, the majority of bills passed by Congress, many of them bipartisan, have been blocked in the Senate by good ol Mitch even though members of his own party support them. Mitch's main goal in the Senate has been to block anything coming from Congress regardless of it's source or of it's effect on the country.
The negatives that are affecting the economy are:
The trade tariffs imposed by Trump, not only on China but on many other trading partners and the retaliatory tariffs imposed on the US in response.
The loss of market by farmers leading to billions of dollars in losses only some of which are being made up eventually through federal subsidies. Then of course you have to consider the loss if income for related industries such as food processing and trucking as well as shipping. With significantly fewer farm goods being produced due to no market for them sales of farm equipment have fallen creating a drop in demand for steel products. As a result blast furnaces have been idled with resulting layoffs due to low demand and uneconomic prices for steel.
The stock market which, although not the best measure of the economy, it does give an overall picture of what large investors expect to happen. During his first year in office the stock market continued growing at a record rate however since then it has been relatively flat with any gains offset by losses, some of a record nature. I noted that Trump has stopped bragging about stock marker performance like he frequently did during his first year. Much of the uncertainty is due to Trump and his ever changing trade and other economic policies as communicated through his many tweets.
One other thing, one of the first things Trump did when entering office was reduce regulations for companies. While this helped the stock market and the companies the overall effect of his actions are not so rosy. He eliminated financial regulations put in place to help prevent the financial actions responsible for the last recession. He also eliminated environmental protections placed on companies creating a situation where short term gain can equal long term pain to the taxpayers, both in economic and health related costs.
- HonestlyLv 76 months ago
Who started the recession rumor? It must have been the liberals. It is very difficult to beat an incumbant president when the economy is good.
The economy turned away from the Obama recession immediately after the election. The reason was that businesses now have hope. Today, unemployment is at a record low, wages are rising, the stock market is booming, businesses are expanding and yet interest rates remain low.
The tax cuts helped all accept the filthy rich, though there is another lie to the contrary. For example, the standard deduction was doubled for all, and the tax rate dropped. The middle class is paying less taxes. However, the mortgage interest write off went away for only the very rich (mortgages over about 800K). Thus the very rich got burned but everyone else prospered.
If this is a recession, I hope it never ends. My investments are doing great.
Here is a chart of the S&P (the broad market) since the housing recession:
Stock prices are over 4 times higher than they were at the bottom of the housing recession and almost twice as high as the top before the housing recession.
Also, note that the stock market typically begins to drop several months before a recession begins.
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- ndmagicmanLv 76 months ago
Maybe if Moscow Mitch had passed, even brought up for a vote, the over 300 bills passed by the House then Trumps poor economic and trade decisions would not be crashing the economy.
- Bubba RayLv 76 months ago
Not true. All of their bills have been blocked by Moscow Mitch in the Senate.
- davidmi711Lv 76 months ago
Perhaps you can provide specifics of what actions they have taken that are crashing the economy. Pretty much everything they passed that was not completely bipartisan in nature has been blocked in the senate without as much as debate.
However Trump's tariffs are doing a great job of killing jobs for Trump supporters.
- 6 months ago
We warned conservatives that Trump's trade war with China would push the US into recession. We told conservatives over and over that Trump was meddling with economic forces he doesn't understand. But you didn't listen. You were stupid and arrogant and now all Americans will pay the price.
- 6 months ago
Nope!!! They can't and won't stop president Trump's success!!!!!!!
- -j.Lv 76 months ago
...no wonder Trump loves the poorly educated.