Thursday, August 02, 2018

US GDP growth the past 25 years

Here are the numbers. The most dynamic were 8 years of the Bill (5 yrs of 4% or higher growth), the most pathetic were 8 years of "hope and change" (zero year of 3% or higher growth).

Source: US Bureau of Economic Analysis (BEA)

Bush Jr. 1 started with 9/11 attacks in 2001, then ended with the start of US finance turmoil in 2008. Still it has 2 years of above 3% growth.

Obama inherited only the 2009 continuation of US financial turmoil. 2010-2011 were already recovery years and Obama blew it, normally recovery yrs are 3%+ even 4%+ growth. 8 yrs of "hope and change" were actually 8 yrs of high bureaucracies, high energy taxes.

If Hillary! Hillary! Hillaaarrrryyyyy! became President, the pathetic growth of "hope and change" would have continued.

People should distinguish between personality and public policy. Hate or love the person but focus on policy -- tax cut or retain high taxes? zero tariff or high tariffs? strictly control illegal immigration or be lax on it? support coal power or kill it? send more money to UN climate journey or stop it? 

These are clear policy debates answerable by Yes or No depending on one's belief in markets or not.

Meanwhile, these news reports would give more context to the above numbers.

Facing Historic Labor Shortages, Companies Snap Up Teenagers
By Jennifer Levitz and Eric Morath
April 16, 2018 12:22 p.m. ET
The U.S. is facing a severe worker shortage, forcing employers big and small to explore the labor market’s youngest echelon, which is piling into the workforce

Employers Eager to Hire Try a New Policy: ‘No Experience Necessary’
By Kelsey Gee    Updated July 29, 2018 1:14 p.m. ET
Inexperienced job applicants face better odds in the labor market as more companies drop work-history and degree requirements

"No Experience Necessary": Employers Slash Job Requirements Amid Worker Shortage
by Tyler Durden   Sun, 07/29/2018 - 18:00

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