EvC Forum: Boom and bust economies - Presidential and Congressional influences

This topic is a spin-off, based on this JonF message 3762:

JonF writes:

Obama saved the economy from the Bush catastrophe and left Trump a healthy and growing economy.

Trump has managed to continue at roughly the same pace.

That's GDP growth 1990-2018. 2019 numbers are about the same as 2018. The big negative is the beginning of the Obama administration.

Note how Clinton did way better than Trump,and Trump is doing about the same as Obama but a little worse.

The stock market is pretty good. Unemployment is very low. Job creation is less than under Obama.. Farmers are going bankrupt in record numbers. None of the alleged benefits of Trump's tax cut happened, all of the detriments did. The deficit and debt have exploded. GDP growth is nowhere near what Trump promised and compares poorly to GDP growth under Obama.

In the past I've stated that the President gets too much credit for a bad economy, and too much blame for a good economy. Percy agreed with me on that. Although Trump (with whatever aid of the Congress) seems to be overachieving on the amount of bad he can do.

We seem to go through cycles of boom and bust. Everyone loves a good economic bubble, until it pops.

Not claiming any great expertise, but I think that cycle runs largely independent of government (Presidential and Congressional) influences. Not that they can't and don't have influences.

I argue that the Bush 2 era economic bust was a natural descendant of the Clinton era boom, and what had happened pre-Clinton era. As such, the bust was not so much what happened during the Bush 2 era, rather what happened during the Clinton era. In other words, what is needed to avoid the bust is to restrain what's is causing the preceding boom to get out of control.

There's the discussion launching point.

Moose

Professor, geology, Whatsamatta U
Evolution - Changes in the environment, caused by the interactions of the components of the environment.

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