Presidents and the economy

Great Debates
1

I’m not sure if this is the correct forum but here goes:

On oft-cited reason for re-electing Trump is the state of the economy. I’ve always thought that Presidents get way too much credit or blame for how the economy is doing. There are so many other factors in play that crediting any one person seems illogical. Anyway, is there anything that Trump has done that has made a substantial, positive impact? Trade wars? Taxes? Is there any real basis for claiming credit or is Trump just a happy victim of circumstances?

2

It is often said that a new President can instill confidence in the nation and this translates into an energized economy.

Could it be that the Power and Money people recognize that their guy is now in power and now is the time to refurbish the old warehouse, finally build that branch office in the next state, etc?

3

That doesn’t reflect the president’s ability other than being something that some people can project their hopes onto. He may as well be a blank wall or a Rorschach blot at that point.

4

A president has little power to make the economy better. He has considerable ability to make it worse, though.

5

I have always said that blaming the President for a bad economy is like blaming Ronald McDonald for a bad Big Mac. It’s an easy target, but it has piss all to do with the process.

6

The Democrats agree with you, now that the economy is great. Of course, before the election, it was certain doom and gloom if Trump won.

7

It’s not that contradictory. Velocity pointed out earlier that a president can make things a lot worse, I gather by (for example) embroiling the U.S. in a lengthy conflict (be it military or a trade dispute) that doesn’t have a payoff. I gather the anticipation, somewhat vindicated, was that Trump was going to make a lot of capricious, chaotic gut-decisions with little regard for long-term success.

I’m not a Democrat, but I’m happy to knowledge that the U.S. economy has not (yet) been destroyed by Donald Trump, if Trump supporters will acknowledge that almost all of its current recovery was underway well before he took office or even started his campaign.

8

For some reason people like to endow political leaders with god like powers. The ancient Cambodians thought that crops would not grow unless the king plowed the first furrow of the season.

Now some people think that Trump controls the economy and is keeping it doing well or that Obama turned it around. Tax policy affects the economy but for the most part tax policy has not changed drastically since 1986. Monetary policy affects the economy in a large way but for the most part it has been pretty steady since 1982 except for one big exception. Trade policy can have huge impacts on certain industries but for the most part it is swallowed up by the overall economy. Regulatory policy also has been a steady with Trump making a small dent in new regulations but that is about it.