The So-called Economic Lie by NicktheUltimate

Journal entry originally posted by Deviantart user NicktheUltimate. https://www.deviantart.com/nicktheultimate I reposted on Fanart-central in case if one member of the Deviantart moderators delete it.

[ltr]This is a debunk, not a callout thread. Establishing that so no DA mod gets trigger happy and deletes my post.[/ltr]



[ltr]At times, I type Trump on the Deviantart search bar to some artwork and among other things.[/ltr]


[ltr]So it might be clear what this is.[/ltr]


[ltr]https://www.deviantart.com/scythemantis/journal/The-lamest-economic-lie-898754961[/ltr]


[ltr]I'm refuting this so-called "economic lie" claim since it's so blatantly incorrect and is deceiving with the arguments and articles he establishes.[/ltr]


[ltr][Let's say that for five weeks in a row, you get paid $100. You now have $500, and are now the richest you've ever been. Then, let's imagine, your pay is suddenly slashed down to $1 for the next five weeks, so you only make $5 more. Animals and babies can tell when they're getting that much less. Nobody in their right mind would say that they're doing better in those next five weeks.][/ltr]


[ltr]As you'll see later down this journal, this will be a pointless assertion to make.[/ltr]


[ltr][his is what was happening, for instance, when Trump bragged about all the jobs and money he was adding to the economy. Our growth only took a HIT from his policies, even without the help of the pandemic.][/ltr]


[ltr]So first things first. Our growth never "took a HIT from his policies" as he would like you to believe. The slow growth started in 2016 when Obama was still President.[/ltr]


[ltr]https://money.cnn.com/2017/01/27/news/economy/us-gdp-2016/index.html[/ltr]


[ltr]https://money.cnn.com/2016/04/28/news/economy/us-economy-gdp-first-quarter/index.html[/ltr]


[ltr]https://www.bea.gov/news/2017/gross-domestic-product-4th-quarter-and-annual-2016-third-estimate-corporate-profits-4th[/ltr]


[ltr]Even the left-wing media like CNN knows this fact.[/ltr]


[ltr]Not to mention left-wing news outlets attempted to discredit Trump and tried to paint that it was "all Obama's." Which factually isn't the case. What happened in the years of Trump was all Trump (except 2020 due to covid).[/ltr]


[ltr]https://www.investors.com/politics/editorials/economic-boom-trump-obama-policies/[/ltr]


[ltr]So naturally, Trump inherited an economy that, while good, was slowing down heavily if 2016 was anything to go by.[/ltr]


[ltr]Even better, Trump shocked experts and left-wing outlets like CNN with his growing economy, with the latter trying to discredit Trump as I mentioned earlier.[/ltr]


[ltr]https://thehill.com/opinion/finance/368904-economists-agree-trump-not-obama-gets-credit-for-economy[/ltr]


[ltr]Now let's compare Trump's GDP per year with Obama's GDP.[/ltr]


[ltr]2009-2016[/ltr]


[ltr]https://www.bea.gov/news/2010/gross-domestic-product-4th-quarter-2009-third-estimate-corporate-profits-4th-quarter-2009[/ltr]


[ltr]https://www.bea.gov/news/2011/gross-domestic-product-4th-quarter-and-annual-2010-third-estimate-corporate-profits-4th[/ltr]


[ltr]https://www.bea.gov/index.php/news/2012/gross-domestic-product-4th-quarter-2011-and-annual-2011-third-estimate-corporate-profits[/ltr]


[ltr]https://www.bea.gov/news/2013/gross-domestic-product-4th-quarter-and-annual-2012-third-estimate-corporate-profits-4th[/ltr]


[ltr]https://www.bea.gov/index.php/news/2014/gross-domestic-product-4th-quarter-and-annual-2013-third-estimate-corporate-profits-4th[/ltr]


[ltr]https://www.bea.gov/news/2015/gross-domestic-product-4th-quarter-and-annual-2014-third-estimate-corporate-profits-4th[/ltr]


[ltr]https://www.bea.gov/news/2016/gross-domestic-product-4th-quarter-and-annual-2015-third-estimate-corporate-profits-4th[/ltr]


[ltr]https://www.bea.gov/news/2017/gross-domestic-product-4th-quarter-and-annual-2016-third-estimate-corporate-profits-4th[/ltr]


[ltr]2017-2020[/ltr]


[ltr]https://www.bea.gov/news/2018/gross-domestic-product-4th-quarter-and-annual-2017-third-estimate-corporate-profits-4th[/ltr]


[ltr]https://www.bea.gov/news/2019/gross-domestic-product-4th-quarter-and-annual-2018-third-estimate-corporate-profits-4th[/ltr]


[ltr]https://www.bea.gov/news/2020/gross-domestic-product-fourth-quarter-and-year-2019-third-estimate-corporate-profits[/ltr]


[ltr]https://www.bea.gov/news/2021/gross-domestic-product-third-estimate-gdp-industry-and-corporate-profits-4th-quarter-and[/ltr]


[ltr]Trump: [/ltr]

[ltr]2017: 2.3[/ltr]

[ltr]2018: 2.9[/ltr]

[ltr]2019: 2.3[/ltr]

[ltr]2020: -3.5[/ltr]


[ltr]Note: I'll be ignoring 2020 due to mass shutdowns and the global pandemic. It's clear to even a dipshoot that it affected the economy.[/ltr]


[ltr]Obama:[/ltr]

[ltr]2009: -2.4[/ltr]

[ltr]2010: 2.9[/ltr]

[ltr]2011: 1.7[/ltr]

[ltr]2012: 2.2[/ltr]

[ltr]2013: 1.9[/ltr]

[ltr]2014: 2.4[/ltr]

[ltr]2015: 2.4[/ltr]

[ltr]2016: 1.6[/ltr]


[ltr]The flaw with scythemantis' argument (and usage of articles) is how he blatantly disregards key factors that straight-up ruin his left-wing narrative.[/ltr]


[ltr]1.) The way they used the data is flawed. What do I mean by this? Well, for one thing, it ignores unfortunate circumstances that can occur outside of a president's control.[/ltr]


[ltr]The covid pandemic is a prime example of this fact, but he ignores this while fully aware it skews Trump's Annual GDP badly.[/ltr]


[ltr]If we ignore 2020 as a whole, Trump would be at a 2.5 annual rate. That's higher than Obama's.[/ltr]


[ltr]To make this fair, we'll ignore 2009 because it was outside of Obama's control, just like 2020 was for Trump.[/ltr]


[ltr]For both terms, Obama would have an average rate of 2.1.[/ltr]


[ltr]If we separate said terms.[/ltr]


[ltr]Obama's first term is a 2.2, still below Trump's (still ignoring 2009).[/ltr]


[ltr]Obama's second term is a 2.1, also still below Trump's.[/ltr]


[ltr]Now. If we do take the unfortunate years, Trump would be a 1 while Obama is a 1.6 (both terms).[/ltr]


[ltr]For Obama's first term, he is 1.1. JUST BARELY better than Trump, mostly because 2020 was much more severe to economic growth than 2009. All because of mass shutdowns and the global pandemic.[/ltr]


[ltr]Despite Trump having consistently higher numbers, that year wrecked his growth rate (outside of his control).[/ltr]


[ltr]Obama's economy was more erratic and went to either 2s or 1s.[/ltr]


[ltr]Trump was only 2s. Much more consistent with higher numbers too.[/ltr]


[ltr]2.) Another point to consider is population growth, which does affect the growth of an economy. Even the bloomberg article he links mentions this.[/ltr]


[ltr]Hell. Bloomberg went the extra mile and made multiple graphs indicating what Trump could have had relating to other presidents. Of course, some were flawed, like the CAGR. They used this to "estimate" 2020's Real GDP rate if Covid never happened.[/ltr]


[ltr]Due to numbers possibly changing, it's not hard to point out the major flaw of using this.[/ltr]


[ltr]Even the site they linked to tell you about CAGR calls the estimated performance to be unlikely.[/ltr]


[ltr]https://www.investopedia.com/terms/c/cagr.asp[/ltr]


[ltr]Which is why I'm ignoring the years that were factually bullshoot.[/ltr]


[ltr]https://www.axios.com/presidents-economy-gdp-trump-5d042c64-ace6-4904-8602-40003f917719.html[/ltr]


[ltr]^ These numbers for Obama and Trump are close to what I got.[/ltr]


[ltr]So that pointless assertion he made earlier? Now you know why. Trump's average is better than Obama's, so basically, he just secured Trump as the better economic president than Obama.[/ltr]


[ltr][It's also the kind of lazy trick the media pulls any other time the country suffers financially under their favorite political group.][/ltr]


[ltr]Like how Bloomberg used CAGR and did not take the year away? The same article he attempted to use deceptively too. LMFAO[/ltr]


[ltr]["Bigger number equals good" is as complex a case as journalism is ever able to make about how "well" we're ever supposed to be doing, and this isn't even getting into the issue of where exactly the "bigger number" is going and who's actually enjoying any of that prosperity; parts of America actually suffer worse poverty than even some of the overall poorest countries to this day.][/ltr]


[ltr]But bigger averages is good.[/ltr]


[ltr]And oh god, that shootty poverty argument.[/ltr]


[ltr]https://youtu.be/B0doUx8jyFU?t=219[/ltr]


[ltr]^ This specific section of the video not only debunks but shoots on the whole talking point in general.[/ltr]


[ltr]While at it, 4.2 million people lifted out of poverty between 2018 and 2019, both years that occurred under Trump. The video I linked also mentions this fact, so I recommend watching it if you didn't start watching it already for some reason.[/ltr]


[ltr][Anyone who thinks America is doing better overall, under Trump or Biden or anyone else, obviously doesn't understand how averages actually work. Maybe they need it laid out for them by a simplified internet meme:][/ltr]


[ltr]America was doing better overall under Trump. Sure, his economic growth isn't as impressive as the good amount of pre-2000s presidents, but it's still good. It isn't as shoot as people like scythemantis are making it out to be.[/ltr]


[ltr]Also, the meme he posted debunks his use of the first article. Lol[/ltr]


[ltr]I'm surprised he doesn't mention numbers of job creation since Obama in his last three years did do better than Trump's first three. Though, it happened in Obama's second term.[/ltr]


[ltr]Around 8 million jobs created were under the last three years of Obama, which is the majority of the 12 million jobs he created in both terms.[/ltr]


[ltr]Trump (before Covid-19) scored more than 6 million jobs.[/ltr]


[ltr]Ignoring Obama's economy was coming back from a deep recession which should lead to bigger overall job growth, Obama did good.[/ltr]


[ltr]Though, that might not be so good when you see the deficit spending on that. Oof[/ltr]


[ltr]I guess that's the negative of creating many jobs without thinking.[/ltr]


[ltr]And if Trump did have a second term, he would have created the same amount of jobs, if not more. Obama's first term wasn't exactly good with creating jobs. I recall even the left-wing news outlets doging about it when it was a big problem.[/ltr]


[ltr]Another thing to note is even with job creation. Trump massively surpassed expectations.[/ltr]


[ltr]https://issuesinsights.com/2019/12/06/trumps-unexpected-jobs-boom-leaves-dems-incoherent/[/ltr]


[ltr]I have said enough.[/ltr]


[ltr]Even though I could go on about why Trump is a good president and why he's better than Obama and Biden, but that's an entirely different subject.[/ltr]


[ltr]Speaking of Biden. That inflation rate is big yikes.[/ltr]


[ltr]Oh well. Goodbye for now.[/ltr]