IS TRUMP RECESSION PROOF

Economist had predicted whomever was elected president the U.S. was headed to a recession. Apparently the economy has not fully recovered from the last Bush recession, and if the U.S. were to have another we could have a possible depression.

Economic indicators lead one to believe their predictions are true. Economic growth has slowed for the past 5 quarters as has job growth. Banks are getting greedy and reckless with their building loans as they were in the past recession.

Republican presidents seem to rule recessions. As a result history could portend a bad omen for President-elect Donald Trump. Every Republican president since Teddy Roosevelt in the early 1900’s endured a recession in their first term, according to a recent analysis from a investment strategist at stock research firm CFRA.

Four Republican presidents suffered through two recessions while in office and Republican President Dwight Eisenhower presided over three. Meanwhile Democrats  have largely skated past the recession quicksand. Four in five Democratic presidents saw no recessions during their terms since 1945.

While history isn’t gospel, the track record makes the odds of a recession during President Trump’s term all the more likely.

Oh well, Republicans will still have their guns.

FACEBOOK ADMITS FALSE POST DURING CAMPAIGN

It was revealed many false posts were seen by millions of FB users and passed on without checking their accuracy.

FB chairman would not say if these posts influenced the election, I say it did. Each person on FB has several hundred ‘Friends’, multiply that by millions of users and think about it.

I was amazed at the number of FB users who I thought had more sense who passed on this false information without checking our the source or accuracy. I spent hours checking their posts and getting back to them with the facts. By then it was too late, they had been shared by thousands.

Finally I had enough of the stupidity and closed my account. Feeling better, have more time for myself. I can spend more time on my blog, something I have neglected since being on FB.

BE CAREFUL WHAT YOU WISH FOR

For years Republicans have wanted control of local government over the federal government. “Give power back to the states” was the cry.

Well now with the Republicans in control of the White House, House and Senate this is a possibility because Washington has wanted this to happen for some time.

The repercussion is less money to the already strapped states means they will put more burden on the counties. Guess who ends up paying the bill? Taxpayers.

Delaware facing a $167 million budget deficit in the coming year is having serious thoughts about doing just that.

JFC co-chair Senator Harris McDowell said for the past 8 years the state has been finding efficiencies and ways to shift and do things,, but the ability to find little pockets of magic to hold the budget are drying up if they have not already dried up.

The days of robbing Peter to pay Paul are up.

Before Governor Russ Peterson took over many programs funded by the county, the county’s were responsible for highway work, indigent care (welfare), costs to run the courts and other services once paid for by county taxes. Which left the counties suddenly with millions in surpluses.

During the years of the great recession other states have employed the opposite strategy placing more burden on counties, according to a consultant hired by the committee.

DOES TRICKLE DOWN ECONOMICS WORK

:President elect Donald Trump wants to lower the income tax rate following in the steps of Ronald Reagan.

Trump wants to chop the top individual marginal rate to 33% from 40% as well as more modest cuts for those with low and moderate incomes and the corporate rae to 15% from 35%. What are we, chopped liver?

Trump claims his tax cuts are a job creator, a beautiful thing to watch. Clinton recoiled calling his tax plan “Trumped-up trickle-down”.

Republicans believe if you make it cheaper to invest, ultimately, companies are going to grow and hire more people. t is not clear that tax cuts are what made the economy in the 1980’s. Reagan spearheaded massive increases in defense spending – from $326 billion in 1980 to as much as $450 billion in 1987 – that rippled across the economy.

The lower taxes and higher military spending nearly tripled the national debt to $2.8 trillion by the time Reagan left office, stoking inflation fears that contributed to the rescission under President George H. Bush in 1990-91 after he pledged, “Read my lips, no new taxes”.

President Clinton significantly raised taxes and had larger job gains than Reagan. about 22 million jobs were created in the eight years Clinton was in office and the economy grew an average 3.8% a year helped in part by the high tech revolution that supercharged business productivity.

Despite tax cuts and the large surplus Clinton left G.W. Bush the economy slipped into a deep recession.

Need I say more?

 

 

 

FACEBOOK FOLLOWERS TAKE A TIME OUT

I’m glad to see I wasn’t the only one who dropped off Face Book prior or after the election.

An article in USA Today writes about some members of Facebook Nation taking time off from the social network, or leaving it outright, after a contentious election.

I for one dropped out permanently on the eve of the election. I just couldn’t take the verbal abuse, and the many who did not check out their facts before posting.

Friends were unfriending friends, families were divided, I couldn’t believe the friction a social network could provide turning into a hate network.

My blood pressure got out of whack; I needed a breather. I spent way too much time fact checking post that I knew were not true that it consumed most of my day. I became frustrated and fatigued over vitriolic political comments from friends, relatives and acquaintances, compounded by fake news, news slants and conspiracy theories , as various reasons to take a break. And these false comments were from educated people, teachers, business leaders, etc, cream of the crop.

I soon found out how uniformed people in this country are when it comes is important issues. They don’t read the newspaper, watch TV news; all I read on FB was “I heard” and it apparently if it was on FB it was gospel.

Facebook became as influential as a TV network or national newspaper, says Drew Margolin, a communicational professor at Cornell University.

FB says 115.3 million members worldwide generated 716.3 million likes, posts, comments and shares just from Election ay, Nov. 8.

TRUMP BACKING OFF CAMPAIGN PROMISES

Well it didn’t take long for president elect Donald Trump to begin backing off his wild campaign promises.

First he was going to drain the swamp in DC by getting rid of the establishment. His first move was to name NJ Governor Christie to head his transition team, but he got caught up in the Bridgegate scandal.

So he has turned to VP elect Pence along with former Congressman Newt Gingrich and former NY mayor Rudy Giuliani; so much for outside the belt way.

On 60 Minutes Sunday he has softened on removing Obamacare as his first executive order; he wants to keep the pre-existing clause and allowing children to remain on their parents policy. He don’t cut off Obamacare until he has a plan of his own in place. He promises a cheaper way to go.

He won’t be sending Hillary to prison. Anyone who thought he would prosecute was dreaming. He says now they are good people. End of comment.

Waiting for that wall now; estimated cost is 8 billion dollars, and waiting to watch him load up 11 million illegal immigrants.

Stay Tuned!!!

 

IS DONALD TRUMP SMARTER THAN YOU

During the first presidential debate, Hillary Clinton mentioned Donald Trump has paid no income tax on his profits in two decades.

Trump who has declined to release any of his tax returns says not paying taxes makes him smart.

For the rest of us who pay income taxes, does that leave us as idiots? No, not really.  Trump and other millionaires have the advantage of a low tax rate and many loop holes the average working class American doesn’t have the income to take advantage of.

In addition they have the money to hire the best tax attorneys.

Trumps story underscores the unfairness of the economic system. While the rich are getting richer, and most other people are getting poorer.

Billionaires like Trump are able to manipulate the tax system so they avoid paying federal income tax.

Democrats for years have been trying to raise taxes on the rich; the argument against raising taxes is it would hurt the economy; the wealthy create jobs. Yea, overseas.

President  Bill Clinton raised taxes on the wealthy which resulted in a robust economy. Republicans lowered the tax rate during the Bush administration. Hillary has proposed raising the tax again on the wealthy.

Trump says he can’t release his taxes because he is under audit; not so says the IRS, his tax preparers and Trump himself have copies of his tax returns.

His tax return shows that he may have used business losses of nearly $1 billion to avoid paying federal income taxes for nearly two decades.

His co-harts, former NY mayor Rudy Giuliani who has prostituted himself this election following Trump all over the country called Trump, “A genius” as how to take advantage of legal remedies that can help your company survive and grow.

Governor Christie of NJ echoed the same sentiments.