Trump's turbulent economy

[Jeffersons Ghost]

Half-million fewer jobs: Revisions hit Trump economy
New numbers show job creation, GDP and consumer sentiment are lower than previously estimated.
Aug. 25, 2019, 6:59 AM MDT
By Dante Chinni

WASHINGTON--Throughout Donald Trump’s turbulent presidency, the economy has served as a stabilizer. His economic approval numbers are consistently higher than his overall job approval in polls and he’s made his economic stewardship a top reelection talking point.

New revised numbers this week from the Bureau of Labor Statistics showed job-creation estimates had been off by about 20 percent. The data showed that about 2 million jobs were created between April 2018 and March 2019. That is 500,000 fewer jobs than the estimates had originally shown.



The U.S. economy is largely being propelled by consumer spending and August saw a sharp dip in the University of Michigan’s Consumer Sentiment Index compared to July.



Maybe most concerning for the White House, on Thursday the Purchasing Manger’s Index of U.S. manufacturing slipped into contraction territory for the first time in almost a decade. The August measure, 44.9, is just a tick under the number 50, which shows no growth.



That drop is a special concern to team Trump because of who takes the hit on it. The president ran on a lot of ideas in 2016, but one of the boldest was a promise to reinvigorate manufacturing in the United States.

Up to now the economy has been the bright spot that Trump could boast because most Americans seemed to feel pretty good about the economy. But these numbers suggest that picture wasn’t as sunny as we believed it was and it may be considerably more cloudy in the months ahead.
https://www.nbcnews.com/politics/meet-the-press/half-million-fewer-jobs-revisions-hit-trump-economy-n1046156

[real Cannabis calm]

1. K&R Trump was planning focus on a strong economy in his reelection bid.

[smirkymonkey]

2. Good. I am not happy that people are feeling economic pain, but most of those states

that are suffering the biggest losses went for Trump in 2016 so maybe this is what it will take to get him out of office. They voted for him so they bear some of the responsibility for what is happening to them.

Maybe a little bit of pain now will be worth getting him out to save us all a lot of pain later if he remains in office.

[Jeffersons Ghost]

3. He was planning to use "great economy" talking points for reelection