# The First six months under Trump, economically speaking **URL:** \ **Category:** Politics & Elections\ **Created:** [August 5, 2017, 1:14pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836 "2017-08-05T13:14:08Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Silver\_lining](https://avatars.discourse-cdn.com/v4/letter/s/aca169/32.png) [@Silver\_lining](https://boards.straightdope.com/u/Silver_lining)\ **Post date:** [August 5, 2017, 1:14pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/1 "2017-08-05T13:14:08Z")
Unemployment at its lowest rate in 16 years. Down from 4.8% in January to 4.3 % in July. The Dow is at 22,092 and climbing. If the corporate tax rate is cut ( USA 2nd highest among first world nations ), an economic boom can happen. Factories from large companies are thinking about building in the USA. Illegal immigration is way down, possibly offering jobs to able bodied Americans who want part or full-time work. The labor rate is also going up. Like him or not, Trump should get some of the credit. ---
**Author:** ![Budget\_Player\_Cadet](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/budget_player_cadet/32/205_2.png) [@Budget\_Player\_Cadet](https://boards.straightdope.com/u/Budget_Player_Cadet)\ **Post date:** [August 5, 2017, 1:25pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/2 "2017-08-05T13:25:34Z")
> [@Silver\_lining](#): > > Like him or not, Trump should get some of the credit. Why? No, seriously. What legislature has passed, what policy has been pushed, _what has Trump done_? And can you provide _any_ evidence for that? > **[Analysis | The U.S. economy is solid, but there’s no ‘Trump bump’](https://www.washingtonpost.com/news/wonk/wp/2017/08/04/americas-economy-is-solid-but-theres-no-trump-bump/?utm_term=.94a5b21d26af)** > > To see how the Trump economy is really doing, look at growth, jobs, wages and business spending. All of those factors are showing no change since the days of President Obama. > [@](#): > > Yes, more Americans are getting jobs. Hiring in July was stronger than experts expected, with a net gain of 209,000 jobs. That’s good news, but the pace of hiring is a tad worse than under Obama. The economy has added 1,074,000 jobs since Trump took office. During the same stretch last year, the economy gained 1,246,000 jobs under Obama. > > “On the jobs metric, there’s no Trump bump,” said Chris Rupkey, chief financial economist at MUFG bank in New York. “It’s pretty consistent with the final year of Obama’s administration.” > > The fastest-growing job category last month was low-paying retail jobs. Trump used to slam Obama by claiming he was creating only crummy jobs. Now that’s part of the Trump story, too. What credit, exactly, should Trump get? He continued the Obama economy and did fuck-all to improve on it. ---
**Author:** ![Ann\_Hedonia](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ann_hedonia/32/319_2.png) [@Ann\_Hedonia](https://boards.straightdope.com/u/Ann_Hedonia)\ **Post date:** [August 5, 2017, 1:29pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/3 "2017-08-05T13:29:02Z")
> [@Silver\_lining](#): > > Unemployment at its lowest rate in 16 years. Down from 4.8% in > January to 4.3 % in July. > > The Dow is at 22,092 and climbing. > > If the corporate tax rate is cut ( USA 2nd highest among first world > nations ), an economic boom can happen. > > Factories from large companies are thinking about building in the USA. > > Illegal immigration is way down, possibly offering jobs to able bodied > Americans who want part or full-time work. > > The labor rate is also going up. > > Like him or not, Trump should get some of the credit. Job growth is really about the same as it was in the first half of 2016. Some months a little better, some a little worse. If you add the aggregate numbers more jobs were actually created in the first half of 2016 than in 2017 but it’s close. Trump spent yesterday bloviating about the 208,000 jobs created in July but in July 2016 that same number was 255,000 on the initial estimate ( later revised up to 297,000.) It’s just that Obama had better things to do than take credit for every single new factory in the US. The trajectory is continuing. Unemployment has been low for some time and I’ve always felt that JOBS JOBS JOBS was a solution in search of a problem. This was highlighted last week by the reaction by those on both sides of the aisle to the new restrictions on legal immigration. Republicans that have been disingenuously pretending that there states are full of Americans lining up for the chance to make their living picking tomatoes or plucking chickens quickly admitted that businesses in their states needed these immigrants. With unemployment as low as it is now, I actually think substance abuse is a larger factor in unemployment than is the lack of jobs. ---
**Author:** ![running\_coach](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/running_coach/32/15836_2.png) [@running\_coach](https://boards.straightdope.com/u/running_coach)\ **Post date:** [August 5, 2017, 1:57pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/4 "2017-08-05T13:57:58Z")
> [@Silver\_lining](#): > > Unemployment at its lowest rate in 16 years. Down from 4.8% in > January to 4.3 % in July. > > The Dow is at 22,092 and climbing. > > If the corporate tax rate is cut ( USA 2nd highest among first world > nations ), an economic boom can happen. > > Factories from large companies are thinking about building in the USA. > > Illegal immigration is way down, possibly offering jobs to able bodied > Americans who want part or full-time work. > > The labor rate is also going up. > > Like him or not, Trump should get some of the credit. He dismissed all those numbers as fake when he was campaigning. Thinking about factories is not the same as building new factories. ---
**Author:** ![DSYoungEsq](https://avatars.discourse-cdn.com/v4/letter/d/c6cbf5/32.png) [@DSYoungEsq](https://boards.straightdope.com/u/DSYoungEsq)\ **Post date:** [August 5, 2017, 1:58pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/5 "2017-08-05T13:58:13Z")
For the most part, Presidents have little directly to do with the economy. One can argue that President Trump inspired the recent runup in stock prices, which had been treading water in late 2016 over the outcome of the election. But other measures of the economy are essentially unchanged as to **rate** of change since his election. The best that can be said is that he hasn’t done anything to upset the apple cart. ---
**Author:** ![Johnny\_Ace](https://avatars.discourse-cdn.com/v4/letter/j/6bbea6/32.png) [@Johnny\_Ace](https://boards.straightdope.com/u/Johnny_Ace)\ **Post date:** [August 5, 2017, 2:02pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/6 "2017-08-05T14:02:35Z")
> [@running\_coach](#): > > He dismissed all those numbers as fake when he was campaigning. > Thinking about factories is not the same as building new factories. And the new factories actually built, which Trump also takes credit for, were planned during the Obama administration. Of course, he never mentions that. ---
**Author:** ![John\_Mace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/john_mace/32/185_2.png) [@John\_Mace](https://boards.straightdope.com/u/John_Mace)\ **Post date:** [August 5, 2017, 2:09pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/7 "2017-08-05T14:09:13Z")
> [@DSYoungEsq](#): > > For the most part, Presidents have little directly to do with the economy. One can argue that President Trump inspired the recent runup in stock prices, which had been treading water in late 2016 over the outcome of the election. But other measures of the economy are essentially unchanged as to **rate** of change since his election. The best that can be said is that he hasn’t done anything to upset the apple cart. Couldn’t agree more. Thank Og things have not gone in the tank, but where we are now has little, if anything, to do with Trump. And the market is due for a correction. If Trump was responsible for the run-up, he’ll be responsible for the pull-back when it comes. ---
**Author:** ![Johnny\_Ace](https://avatars.discourse-cdn.com/v4/letter/j/6bbea6/32.png) [@Johnny\_Ace](https://boards.straightdope.com/u/Johnny_Ace)\ **Post date:** [August 5, 2017, 2:45pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/8 "2017-08-05T14:45:02Z")
> [@DSYoungEsq](#): > > …But other measures of the economy are essentially unchanged as to **rate** of change since his election. The best that can be said is that he hasn’t done anything to upset the apple cart. It’s interesting to me how terrible, awful, disastrous the economy was last year and how wonderful, great, YUGE it is now that Captain Cheeto’s at the helm. ---
**Author:** ![running\_coach](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/running_coach/32/15836_2.png) [@running\_coach](https://boards.straightdope.com/u/running_coach)\ **Post date:** [August 5, 2017, 3:10pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/9 "2017-08-05T15:10:28Z")
> [@John\_Mace](#): > > Couldn’t agree more. Thank Og things have not gone in the tank, but where we are now has little, if anything, to do with Trump. And the market is due for a correction. If Trump was responsible for the run-up, **he’ll be responsible for the pull-back when it comes.** Wanna bet? ---
**Author:** ![silenus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/silenus/32/166_2.png) [@silenus](https://boards.straightdope.com/u/silenus)\ **Post date:** [August 5, 2017, 3:10pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/10 "2017-08-05T15:10:34Z")
Hey, what about **my** credit? I’ve probably done more for the economy in the last 6 months than the Cheeto has. Where are **my** accolades? ---
**Author:** ![The\_Stainless\_Steel\_Rat](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/the_stainless_steel_rat/32/5727_2.png) [@The\_Stainless\_Steel\_Rat](https://boards.straightdope.com/u/The_Stainless_Steel_Rat)\ **Post date:** [August 5, 2017, 3:25pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/11 "2017-08-05T15:25:30Z")
All of the above make good counter-points to the OP, but the fact remains; the economy is still chugging along, perhaps not at a optimal rate but still moving the right way. And while Trump may have little or nothing to do with that, as long as people are employed and their investment values are rising, they have less incentive to rock the boat. So yeah, if it continues, I think Trump may get a bit of a bounce from that. But let things go south and those 34% favorable ratings will drop like a thermometer at the South Pole. ---
**Author:** ![ThisIsTheEnd](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/thisistheend/32/4713_2.png) [@ThisIsTheEnd](https://boards.straightdope.com/u/ThisIsTheEnd)\ **Post date:** [August 5, 2017, 3:26pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/12 "2017-08-05T15:26:08Z")
He gets credit for promising a lot of shit and not seriously fucking any of those things up yet. Obama deserves credit for not really fucking anything up either, he got in at the bottom and the bailouts and emergency stimulus and the Fed pulled the car out of the ditch. It could have been better and faster after the worst had passed, but once they took the House in 2010, Repubs never passed any of his budgets, there was this little thing they had about making him a one-term president. ---
**Author:** ![QuickSilver](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/quicksilver/32/7832_2.png) [@QuickSilver](https://boards.straightdope.com/u/QuickSilver)\ **Post date:** [August 5, 2017, 3:26pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/13 "2017-08-05T15:26:48Z")
> [@running\_coach](#): > > Thinking about factories is not the same as building new factories. I’m thinking of colonizing Mars. ---
**Author:** ![running\_coach](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/running_coach/32/15836_2.png) [@running\_coach](https://boards.straightdope.com/u/running_coach)\ **Post date:** [August 5, 2017, 3:35pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/14 "2017-08-05T15:35:40Z")
> [@QuickSilver](#): > > I’m thinking of colonizing Mars. That’s only possible if Martians and Terrans are sexually and biologically compatible. Rishathra rules! ---
**Author:** ![John\_Mace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/john_mace/32/185_2.png) [@John\_Mace](https://boards.straightdope.com/u/John_Mace)\ **Post date:** [August 5, 2017, 5:00pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/15 "2017-08-05T17:00:56Z")
> [@running\_coach](#): > > Wanna bet? Just to be clear, I was speaking as an objective observer, not commenting on how Trump would characterize things. And the hypothetical “if” was actually meant to imply that the president is rarely responsible for anything but very short-term blips either way in the stock market. But I’d be shocked if he took responsibility for anything negative that happens. He’d either deny its existence or blame it on someone else. ---
**Author:** ![Silver\_lining](https://avatars.discourse-cdn.com/v4/letter/s/aca169/32.png) [@Silver\_lining](https://boards.straightdope.com/u/Silver_lining)\ **Post date:** [August 5, 2017, 5:04pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/16 "2017-08-05T17:04:36Z")
> [@Budget\_Player\_Cadet](#): > > Why? No, seriously. What legislature has passed, what policy has been pushed, _what has Trump done_? And can you provide _any_ evidence for that? > > [https://www.washingtonpost.com/news/wonk/wp/2017/08/04/americas-economy-is-solid-but-theres-no-trump-bump/?utm\_term=.94a5b21d26af](https://www.washingtonpost.com/news/wonk/wp/2017/08/04/americas-economy-is-solid-but-theres-no-trump-bump/?utm_term=.94a5b21d26af) > > What credit, exactly, should Trump get? He continued the Obama economy and did fuck-all to improve on it. It’s a mindset change that does not require laws, though it Trump has lowered illegal immigration on executive orders passed and attitude. He has also changed the attitude on business, made some deals to bring jobs back here, and did not require a record stimulus to out perform Obama’s best quarter in business as presdient…and he had 16 of them! Trump is only on his second quarterly business report and has surpassed him. ---
**Author:** ![Silver\_lining](https://avatars.discourse-cdn.com/v4/letter/s/aca169/32.png) [@Silver\_lining](https://boards.straightdope.com/u/Silver_lining)\ **Post date:** [August 5, 2017, 5:12pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/17 "2017-08-05T17:12:11Z")
> [@running\_coach](#): > > He dismissed all those numbers as fake when he was campaigning. > Thinking about factories is not the same as building new factories. The numbers are the numbers. It seems like some just can’t give any credit. If you want to use the most important stat, its the labor rate, which defines the percentage of people working. It was the lowest for decades under Obama, and has already improved under Trump. Factories are coming back to be built here. Foxconn Says It Plans to Build Factory in Wisconsin, Adding 3,000 Jobs Apple has plans to build three very large factories in the USA. Stanley Black & Decker plans to build new U.S. plant if you want news as of this week, Toyota made a ‘u-turn’ on moving Corolla production to Mexico and plans for new US factory. Just check out the news, which you won’t be hearing on say CNN. Once the tax cuts hit, business profits will become even better, leading to more hires, building projects, and R & D…in the USA. ---
**Author:** ![John\_Mace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/john_mace/32/185_2.png) [@John\_Mace](https://boards.straightdope.com/u/John_Mace)\ **Post date:** [August 5, 2017, 5:21pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/18 "2017-08-05T17:21:20Z")
> [@Silver\_lining](#): > > if you want news as of this week, Toyota made a ‘u-turn’ on moving Corolla production to Mexico and plans for new US factory. > > Just check out the news, which you won’t be hearing on say CNN. From CNN: > [@](#): > > [**Toyota and Mazda to build $1.6 billion factory in the U.S.**](http://money.cnn.com/2017/08/04/news/economy/mazda-toyota-jobs-factory-trump/index.html) > Toyota and Mazda have announced plans to build a $1.6 billion manufacturing plant in the United States that will create as many as 4,000 jobs. > > \ > > Toyota had intended to build Corollas – the world’s best-selling car – at the plant in Mexico. ---
**Author:** ![guizot](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guizot/32/3636_2.png) [@guizot](https://boards.straightdope.com/u/guizot)\ **Post date:** [August 5, 2017, 5:39pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/19 "2017-08-05T17:39:06Z")
> [@Silver\_lining](#): > > The Dow is at 22,092 and climbing. The Dow is up because corporations are buying back their stock. This means they are not investing in their own production, and hence not creating jobs they otherwise would be. Right now, the economy is pretty much doing what it was doing last year. Trump hasn’t done shit. He’s nothing more than a propagandist–constantly putting on a performance for gullible fools. ---
**Author:** ![Ann\_Hedonia](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ann_hedonia/32/319_2.png) [@Ann\_Hedonia](https://boards.straightdope.com/u/Ann_Hedonia)\ **Post date:** [August 5, 2017, 5:47pm UTC](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836/20 "2017-08-05T17:47:37Z")
> [@Silver\_lining](#): > > The numbers are the numbers. It seems like some just can’t give any credit. > > If you want to use the most important stat, its the labor rate, which defines the percentage of people working. It was the lowest for decades under Obama, and has already improved under Trump. > > Factories are coming back to be built here. > > Foxconn Says It Plans to Build Factory in Wisconsin, Adding 3,000 Jobs > > Apple has plans to build three very large factories in the USA. > . I’m going to need a cite on the last one, and imaginary conversions that Trump says he had with Tim Cook don’t count - especially since Trump said Cook would probably deny saying it. And Trump admitted to the WSJ that Wisconsin didn’t need 3000 jobs, so he plans to tell unemployed New Yorkers to abandon their underwater mortgages, “cut their losses” and move. [http://www.politico.com/story/2017/08/01/trump-wall-street-journal-interview-full-transcript-241214](http://www.politico.com/story/2017/08/01/trump-wall-street-journal-interview-full-transcript-241214) Do you think that ANYONE that enrolled in Trump University ever became wealthy by investing in real estate? You’ve been thoroughly conned, grasshopper. [Next page](https://boards.straightdope.com/t/the-first-six-months-under-trump-economically-speaking/792836.md?page=2)