Defeat Trump Public date: 16.10.2020 21:22:36

Publisher: NYTimes

Author:

6 Oct 2020

Jerome Powell, Fed Chair, Says Economy Has ‘a Long Way to Go’ as Trump Calls Off Stimulus Talks

Donald Trump is ignoring warning from chairman Powell regarding a dire need for economic stimulus to rescue the American economy and has called for suspension of talks until after the election with the stipulation that he will help if he wins.
Donald Trump is ignoring warning from chairman Powell regarding a dire need for economic stimulus to rescue the American...
Tags:
99 percent, economy
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Publisher: Common Dreams

Author:

26 Sep 2020

Debunking the Myth of “The Greatest Economy Ever”

During the Trump era economy expanded 3.18%, which is the 29th best growth since JFK took office in 1961. For Median income, during the last 2 years of the Obama presidency the median income grew $4,800 a year, during the first two years of Trump the increase was $1,400 or one third of Obama years and he has done all of this by borrowing 4.8 billion dollars a day since he tool office
During the Trump era economy expanded 3.18%, which is the 29th best growth since JFK took office in 1961. For Median...
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comparison, economy
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Publisher: Common Dreams

Author:

28 Aug 2020

Exposing Trump’s Payroll Tax Deferral as ‘Wage Theft,’ Treasury Signals Millions of Workers Will Earn Less in 2021 under plan

The plan is scheduled to go into effect September 1, and companies that take part will be required to collect the taxes their employees owe from the last four months of this year at the beginning of 2021—after the general election, which Trump hopes to win with claims that he's strengthened the economy and helped workers.
The plan is scheduled to go into effect September 1, and companies that take part will be required to collect the taxes...
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economy, tax policy
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Publisher: Washington Post

Author:

13 Aug 2020

The coronavirus recession is over for the rich, but the working class is far from recovered

U.S. stocks are hovering near a record high, a stunning comeback since March that underscores the new phase the economy has entered: The wealthy have mostly recovered. The bottom half remain far from it.
U.S. stocks are hovering near a record high, a stunning comeback since March that underscores the new phase the economy...
Tags:
99 percent, economy
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Publisher: Washington Post

Author:

18 Apr 2020

Record government and corporate debt risks ‘tipping point’ after pandemic passes

The United States is embarking on a rapid-fire experiment in borrowing without precedent, as the government and corporations take on trillions of dollars of debt to offset the economic damage from the coronavirus pandemic.
The United States is embarking on a rapid-fire experiment in borrowing without precedent, as the government and...
Tags:
deficits, economy
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Publisher: NYTimes

Author:

11 Feb 2020

Trump Quietly Slashed Pay Raise for Federal Workers a Day Before Claiming US Economy Is Best ‘In History’

In a move that drew outrage from labor unions and progressives, President Donald Trump this week quietly took steps to slash a scheduled pay raise for millions of federal workers from 2.5% to 1% due to supposed concerns about "keeping the nation on a fiscally sustainable course."
In a move that drew outrage from labor unions and progressives, President Donald Trump this week quietly took steps to...
Tags:
economy, jobs
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Publisher: NYTimes

Author:

10 Feb 2020

Trump’s $4.8 Trillion Budget Would Cut Safety Net Programs and Boost Defense

President Trump released a $4.8 trillion budget proposal on Monday that includes a familiar list of deep cuts to student loan assistance, affordable housing efforts, food stamps and Medicaid. In a speech Mr Trump said his budget would bring deficit to zero with rosy assumptions about economic growth.
President Trump released a $4.8 trillion budget proposal on Monday that includes a familiar list of deep cuts to student...
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deficits, economy
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Publisher: Yahoo Finance

Author:

10 Feb 2020

U.S. Household Debt Exceeds $14 Trillion for the First Time

Americans increased their borrowing for the 22nd straight quarter as more households took out loans to buy homes or refinance existing mortgages, according to a report released today from the Federal Reserve Bank of New York.Total U.S. household debt rose by $601 billion in the fourth
Americans increased their borrowing for the 22nd straight quarter as more households took out loans to buy homes or...
Tags:
deficits, economy
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Publisher: NYTimes

Author:

16 Dec 2019

There Are Economic Warning Signs for Trump in the Midwest

President Trump campaigned in 2016 on a pledge to restore jobs — manufacturing jobs, specifically — to long-struggling Midwestern communities, and he has made the economy a centerpiece of his re-election campaign. But job growth has slowed sharply this year in Michigan, Pennsylvania and other states that were critical to Mr. Trump’s victory in 2016, as well as in states like Minnesota that he narrowly lost.
President Trump campaigned in 2016 on a pledge to restore jobs — manufacturing jobs, specifically — to...
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economy, jobs
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Publisher: NYTimes

Author:

8 Nov 2019

A Recession Warning Reverses, but the Damage May Be Done

The yield curve, an indicator from the bond market just a few months ago set off alarms about the risk of a recession. Now it has gone back to normal, and that signal has been met with relief in the markets. But as far as the economy is concerned, it might not matter. Once the yield curve has predicted a recession, one usually follows even if that signal changes later.
The yield curve, an indicator from the bond market just a few months ago set off alarms about the risk of a recession....
Tags:
economy, recession
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Publisher: NYTimes

Author:

31 Oct 2019

It Will Take More Than Lower Mortgage Rates for a Housing Rally

The Federal Reserve is hoping that its latest interest-rate cut will help keep the economy safely at cruising altitude. But don’t expect it to provide much of a lift to the housing market. Few economists expect the housing market to take off in response to this week’s rate cut, because rates aren’t what was holding back housing in the first place. Instead, they point to other factors.
The Federal Reserve is hoping that its latest interest-rate cut will help keep the economy safely at cruising altitude....
Tags:
economy, recession
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Publisher: NYTimes

Author:

30 Oct 2019

G.D.P. Posts 1.9% Rate as Trade Fight and Global Weakness Hit Economy

Dogged by uneasiness over trade frictions and weak global growth, the American economy’s growth inched lower over the summer. Gross domestic product — the broadest measure of goods and services produced in the economy — grew at a 1.9 percent annual rate for the third quarter, according to preliminary data released by the Commerce Department on Wednesday.
Dogged by uneasiness over trade frictions and weak global growth, the American economy’s growth inched lower over the...
Tags:
economy, recession
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Publisher: Washington Post

Author:

25 Oct 2019

The U.S. deficit hit $984 billion in 2019, soaring during Trump era

The U.S. government’s budget deficit ballooned to nearly $1 trillion in 2019, the Treasury Department announced Friday, as the United States’ fiscal imbalance widened for a fourth consecutive year despite a sustained run of economic growth. The deficit grew $205 billion, or 26 percent, in the past year.
The U.S. government’s budget deficit ballooned to nearly $1 trillion in 2019, the Treasury Department announced...
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deficits, economy
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Publisher: Washington Post

Author:

17 Oct 2019

U.S. retail sales fall unexpectedly, signaling a new crack in a weakening economy

U.S. consumers unexpectedly pulled back on retail spending for the first time in seven months, reviving fears that a weakening economy could finally be taking its toll on American shoppers just before the pivotal holiday season.
U.S. consumers unexpectedly pulled back on retail spending for the first time in seven months, reviving fears that a...
Tags:
economy, recession
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Publisher: Washington Post

Author:

8 Oct 2019

U.S. manufacturing falls into deep recession as Trump’s trade war drags on

U.S. manufacturing fell deeper into a contraction last month, erasing hope of a quick turnaround for the industry and handing a blow to President Trump’s promises that he would revive blue-collar jobs and companies.
U.S. manufacturing fell deeper into a contraction last month, erasing hope of a quick turnaround for the industry and...
Tags:
economy, recession
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Publisher: Washington Post

Author:

1 Oct 2019

Trump under pressure to address ethanol and trade pain in Iowa and other farm states

The trade war has cost farmers potential Chinese orders for the corn-based fuel as well as for a byproduct that is used as animal feed. Now, the refinery exemptions are compounding the financial pain — and threatening political consequences for the president, who won this state and its six electoral votes in 2016.
The trade war has cost farmers potential Chinese orders for the corn-based fuel as well as for a byproduct that is used...
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economy, trade policy
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Publisher: CNN

Author:

15 Aug 2019

Stock market performance by president, from Reagan to Trump

President Donald Trump has repeatedly pointed to the stock market as one of the best ways to measure his administration’s policies. During Trump’s presidency, the S&P 500 has gained 25% from inauguration day through August 15. How does that stack up to stock performance at the same point in other modern presidencies? (647 trading days, to be exact).
President Donald Trump has repeatedly pointed to the stock market as one of the best ways to measure his...
Tags:
comparison, economy
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Publisher: NYTimes

Author:

14 Aug 2019

Germany Nears Recession and Chinese Factories Slow in Trade War Fallout

In ominous signs of the damage being done by the trade war between China and the United States, data released on Wednesday indicated that the German economy was hurtling toward recession and that growth at Chinese factories was slowing at a pace not seen in nearly two decades.
In ominous signs of the damage being done by the trade war between China and the United States, data released on...
Tags:
economy, trade policy
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Publisher: Washington Post

Author:

14 Aug 2019

Recession watch: What is an ‘inverted yield curve’ and why does it matter?

Stock markets tanked Wednesday after the bond market sounded a loud warning that the U.S. economy might be headed toward a recession. Investors are spooked by a scenario known as the “inverted yield curve,” which occurs when the interest rates on short-term bonds are higher than the interest rates paid by long-term bonds. What it means is that people are so worried about the near-term future that they are piling into safer long-term investments.
Stock markets tanked Wednesday after the bond market sounded a loud warning that the U.S. economy might be headed toward...
Tags:
economy, recession
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Publisher: Forbes

Author:

5 Jul 2019

Trump Is Falling Almost 1 Million Jobs Short Vs. Obama

Trump’s economy is not the best ever. In fact Obama added almost one million more jobs than Trump over the same timeframe. Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut. Working back from January 2017, Obama’s last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.
Trump’s economy is not the best ever. In fact Obama added almost one million more jobs than Trump over the same...
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comparison, economy
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Publisher: DCReport

Author:

2 Jul 2019

Radical Republican Tax Cuts are Bankrupting the Nation

Thanks to Donald “I’m the King of Debt” Trump, our federal government’s debt is rising much faster than under President Barack Obama despite Trump’s frequent assertions that the economy is much better now that he is in the White House.
Thanks to Donald “I’m the King of Debt” Trump, our federal government’s debt is rising much faster than under...
Tags:
deficits, economy
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Publisher: NYTimes

Author:

6 Jun 2019

Jobs Report Is Weak, With Gain of 75,000; Unemployment Rate Still 3.6%

The latest report was a disappointing showing that will stoke fears the economy is softening as the Trump administration’s trade war with China and potentially Mexico escalates. The Federal Reserve has signaled that it would consider a rate cut in the event of economic weakness, and May’s data is likely to be an important factor in their decisions.
The latest report was a disappointing showing that will stoke fears the economy is softening as the Trump...
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economy, jobs
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Publisher: Washington Post

Author:

4 Jun 2019

The average millennial has a net worth of $8,000. That’s far less than previous generations.

Millennials are doing far worse financially than generations before them, with student loans, rising rents and higher health-care costs pushing the average net worth below $8,000, a new study shows. The net worth of Americans aged 18 to 35 has dropped 34 percent since 1996, according to research released Thursday by Deloitte, the accounting and professional services giant.
Millennials are doing far worse financially than generations before them, with student loans, rising rents and higher...
Tags:
99 percent, economy
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Publisher: Business Insider

Author:

9 May 2019

Stores closing include CVS, Office Depot, Walmart in 2019

The staggering rate of store closures that has rocked the retail industry over the past couple of years is expected to continue in 2019, with roughly the same level of closures expected this year. Retailers closed a record 102 million square feet of store space in 2017, then smashed that record in 2018 by closing another 155 million square feet, according to estimates by the commercial real-estate firm CoStar Group.
The staggering rate of store closures that has rocked the retail industry over the past couple of years is expected to...
Tags:
economy, recession
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Publisher: DCReport

Author:

2 May 2019

Why Trump Gets a ‘C’ on the Economy

Donald Trump keeps boasting about what a great economy he should get credited for creating. But his administration’s own reports don’t support his claims, which also don’t come close to what he promised voters. His results so far have been, well, just average.
Donald Trump keeps boasting about what a great economy he should get credited for creating. But his administration’s...
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comparison, economy
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Publisher: The Guardian

Author:

30 Apr 2019

Workers barely benefited from Trump’s sweeping tax cut, investigation shows

Big companies drove Donald Trump’s tax cut law but refused to commit to any specific wage hikes for workers, despite repeated White House promises it would help employees, an investigation shows. The 2017 Tax and Jobs Act – the Trump administration’s one major piece of enacted legislation – did deliver the biggest corporate tax cut in US history, but ultimately workers benefited almost not at all.
Big companies drove Donald Trump’s tax cut law but refused to commit to any specific wage hikes for workers, despite...
Tags:
economy, tax policy
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Publisher: Axios

Author:

4 Apr 2019

The U.S. just had the most Q1 layoffs in a decade

The U.S. saw its highest level of layoffs in a first quarter since 2009, data from staffing firm Challenger, Gray & Christmas released Thursday showed.By the numbers: Employers cut 190,410 jobs in the first 3 months of the year — 10.3% higher than the number of layoffs announced in the fourth quarter of 2018 and 35.6% higher than job cuts announced in the same quarter of 2018.
The U.S. saw its highest level of layoffs in a first quarter since 2009, data from staffing firm Challenger, Gray &...
Tags:
economy, jobs
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Publisher: MarketWatch

Author:

2 Feb 2019

It’s official: The Trump tax cuts were a bust

Lower taxes helped goose profits and stocks, but did little for jobs or the economy. Yet right before Congress passed the Tax Cuts and Jobs Act in December 2017, President Trump proclaimed: “It’ll be fantastic for the middle-income people and for jobs."
Lower taxes helped goose profits and stocks, but did little for jobs or the economy. Yet right before Congress passed...
Tags:
99 percent, economy
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Publisher: Vox

Author:

1 Feb 2019

January jobs: The US economy added 304,000 jobs. Workers got a 3-cent raise.

Employers added 304,000 new jobs to the US economy in January — once again surpassing economic forecasts, according to the latest jobs report from the Bureau of Labor Statistics. However, the latest jobs report once again shows little wage growth, which remains the biggest weakness in the American economy. The average US worker hasn’t seen their paycheck get much bigger since the Great Recession, which ended around 2009.
Employers added 304,000 new jobs to the US economy in January — once again surpassing economic forecasts, according to...
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economy, jobs
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Publisher: Washington Post

Author:

20 Dec 2018

Trump administration aims to toughen work requirements for food stamp recipients

The Trump administration unveiled a plan Thursday to force hundreds of thousands more Americans to hold jobs if they want to keep receiving food stamps, pursuing through executive powers what it could not achieve in Congress.
The Trump administration unveiled a plan Thursday to force hundreds of thousands more Americans to hold jobs if they...
Tags:
99 percent, economy
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Publisher: Washington Post

Author:

25 Nov 2018

Trump demands action to reduce deficit, pushes new deficit spending

President Trump is demanding top advisers craft a plan to reduce the country’s ballooning budget deficits, but the president has flummoxed his own aides by repeatedly seeking new spending while ruling out measures needed to address the country’s unbalanced budget.
President Trump is demanding top advisers craft a plan to reduce the country’s ballooning budget deficits, but the...
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deficits, economy
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Publisher: Menafn

Author:

13 Nov 2018

Sliding Chinese yuan risks Trump trade war backlash

The laws of Trumponomics, after all, are more about resentment and victimhood than stirring animal spirits. And no woe-is-America narrative is more pervasive in the Trump era than China “raping” the US workforce and “stealing” growth from Washington. An undervalued yuan is a pillar of this theory. It’s “killing us,” as Trump likes to say.
The laws of Trumponomics, after all, are more about resentment and victimhood than stirring animal spirits. And no...
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economy, trade policy
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Publisher: Business Insider

Author:

2 Nov 2018

GDP: Trump tariff, trade war hit to economy

There's mounting anecdotal evidence that President Donald Trump's trade war is causing trouble for the US economy and businesses. But Friday's report on third-quarter gross domestic product may be the best hard evidence yet that the tariffs are causing major disruptions in the economy.
There's mounting anecdotal evidence that President Donald Trump's trade war is causing trouble for the US economy and...
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economy, trade policy
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Publisher: Washington Post

Author:

4 Oct 2018

Steel is surging under Trump. Will workers benefit?

When President Trump imposed tariffs on steel imports in June, Richard Lattanzi thought of dozens of his fellow steelworkers who have for years put off badly needed repairs of their cars and homes. But as President Trump has pressed his steel tariffs, Trump has declared that the industry is “being rebuilt overnight.” But the question facing the rank and file is whether the controversial policy — which has raised the price of inputs for many American companies and alienated allies — will translate into higher wages and better benefits.
When President Trump imposed tariffs on steel imports in June, Richard Lattanzi thought of dozens of his fellow...
Tags:
99 percent, economy
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Publisher: Forbes

Author:

11 Aug 2018

Trump’s Economic Scorecard: Higher Inflation, Flat Wages And A Ballooning Federal Deficit

In the past few days, new economic reports have come out that don’t paint a very rosy picture for a number of economic items. While GDP hit 4.1% for the June quarter, but only 2.9% year over year, and the unemployment rate is hovering at all-time lows, inflation continues to increase, real wages are stagnant and the federal budget deficit is ballooning
In the past few days, new economic reports have come out that don’t paint a very rosy picture for a number of economic...
Tags:
deficits, economy
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Publisher: Washington Post

Author:

10 Aug 2018

In America, wage growth is getting wiped out entirely by inflation

Rising prices have erased U.S. workers’ meager wage gains, the latest sign strong economic growth has not translated into greater prosperity for the middle class and working class. Cost of living was up 2.9 percent from July 2017 to July 2018, the Labor Department reported Friday, an inflation rate that outstripped a 2.7 percent increase in wages over the same period.
Rising prices have erased U.S. workers’ meager wage gains, the latest sign strong economic growth has not translated...
Tags:
99 percent, economy
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Publisher: NYTimes

Author:

24 Jun 2018

What’s the Yield Curve? ‘A Powerful Signal of Recessions’ Has Wall Street’s Attention

The bond market’s yield curve is perilously close to predicting a recession — something it has done with surprising accuracy — and it’s become a big topic on Wall Street. Some economists on Wall Street think the economy could be growing at around a nearly 5 percent annualized clip this quarter. But if the current economic vigor is only reflecting a short-term stimulus coming from the Trump administration’s tax cut, then some kind of slowdown is to be expected.
The bond market’s yield curve is perilously close to predicting a recession — something it has done with surprising...
Tags:
economy, recession
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Publisher: NYTimes

Author:

8 Jun 2018

How Good Is the Trump Economy, Really?

So what is the most honest way of talking about the Trump economy? It goes like this: The president inherited an economy that had come a long way toward healing. During his administration, the economy has continued growing at about the same rate it did before he took office, pushing incomes, employment and output to yet higher levels. There are plenty of problems that remain in the United States, economic and otherwise, and the degree of credit the president deserves for the state of the economy is an open debate.
So what is the most honest way of talking about the Trump economy? It goes like this: The president inherited an economy...
Tags:
comparison, economy
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Publisher: NYTimes

Author:

8 Mar 2018

Trump Authorizes Tariffs in Defiance of Allies at Home and Abroad

President Trump defied opposition from his own party and protests from overseas on Thursday as he signed orders imposing stiff and sweeping new tariffs on imported steel and aluminum. But he sought to soften the impact on America’s closest allies with a more flexible plan than originally envisioned.
President Trump defied opposition from his own party and protests from overseas on Thursday as he signed orders imposing...
Tags:
economy, trade policy
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Publisher: NYTimes

Author:

26 Feb 2018

Trump’s Tax Cuts in Hand, Companies Spend More on Themselves Than on Wages

President Trump promised that his tax cut would encourage companies to invest in factories, workers and wages, setting off a spending spree that would reinvigorate the American economy. Companies have announced plans for some of those investments. But so far, companies are using much of the money for something with a more narrow benefit: buying their own shares.
President Trump promised that his tax cut would encourage companies to invest in factories, workers and wages, setting...
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economy, tax policy
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Publisher: Washington Post

Author:

28 Jan 2018

There’s a big red flag in today’s report on the economy

For the duration of this economic expansion, consumer spending has been the dynamo driving growth in gross domestic product, or GDP. But now there are indications Americans are getting a little too dynamic. Their actions are out of whack. For the past two years, spending has risen faster than disposable personal income, as pointed out by Jason Furman, a senior fellow at the Peterson Institute for International Economics
For the duration of this economic expansion, consumer spending has been the dynamo driving growth in gross domestic...
Tags:
economy, recession
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Publisher: Newsweek

Author:

25 Dec 2017

Trump Tells Rich Mar-a-Lago Friends “You All Just Got a Lot Richer” After Tax Bill

President Donald Trump joined his family at their “Winter White House” for the holidays Friday night after signing the GOP tax bill into law, and reportedly told wealthy friends dining at Mar-a-Lago, “You all just got a lot richer.” When Trump signed $1.5 trillion tax overhaul into law, ultra-wealthy earners in the 95th to 99th percentile received the biggest tax cuts, even though the top 1 percent already holds about 40 percent of American wealth.
President Donald Trump joined his family at their “Winter White House” for the holidays Friday night after signing...
Tags:
economy, tax policy
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Publisher: Asia Times

Author:

16 Aug 2017

Trump is late on China trade, too

If Donald Trump thought slapping China would divert attention from events in Virginia, he miscalculated. That’s because, just like his slow disavowal of racist protestors, Trump’s move to investigate Beijing’s trade practices is too little, too late. Directing Trade Representative Robert Lighthizer to probe America’s deficit with China makes for great optics for the reality-TV president.
If Donald Trump thought slapping China would divert attention from events in Virginia, he miscalculated. That’s...
Tags:
economy, trade policy
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