{"id":25008,"date":"2018-08-24T12:56:50","date_gmt":"2018-08-24T16:56:50","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=25008"},"modified":"2018-08-30T11:07:36","modified_gmt":"2018-08-30T15:07:36","slug":"quote-of-the-day-from-obama-stagnation-to-trump-acceleration","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/25008\/quote-of-the-day-from-obama-stagnation-to-trump-acceleration\/","title":{"rendered":"Quote of the Day:  From Obama Stagnation to Trump Acceleration"},"content":{"rendered":"<p>Obama apologists desperately claim that the current economic acceleration is somehow attributable to him, never mind that the acceleration began as soon as the Trump Administration began reversing Obama policies by cutting taxes and reducing regulation.\u00a0 In <em>The Wall Street Journal<\/em> today, two Arizona State University professors &#8211; Nobel laureate Edward Prescott and Lee Ohanian &#8211; debunk that claim in a commentary entitled <a href=\"https:\/\/www.wsj.com\/articles\/the-good-times-can-roll-on-1535063430?tesla=y\" target=\"_blank\">&#8220;The Good Times Can Roll On.&#8221;<\/a> As an ASU alumnus, it offers particular pleasure to recommend their entire piece for reading and passing along to others who may need it:<\/p>\n<blockquote><p>It&#8217;s clear the recovery ended in 2014 because the two hallmarks of recovery &#8211;\u00a0 investment&#8217;s share of gross domestic product and labor input relative to the adult population &#8211; stopped increasing.\u00a0 This left a large gap between actual output and the output level that would have occurred had the economy recovered to its prerecession growth path.\u00a0 According to our calculations, the U.S. cumulatively lost about $18 trillion in income and output between 2007 and 2016.\u00a0 Everything suggested this shortfall would persist or even grow.<\/p>\n<p>Yet economic performance began to improve beginning in the first quarter of 2017.\u00a0 Real GDP growth accelerated to about 2.7% between the end of 2016 and the second quarter of 2018, up from about 2% between 2014 and the end of 2016.&#8221;<\/p><\/blockquote>\n<p>Oh, and as football season approaches, go Sun Devils.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Obama apologists desperately claim that the current economic acceleration is somehow attributable to him, never mind that the acceleration began as soon as the Trump Administration began reversing Obama policies by cutting taxes and reducing regulation.\u00a0 In The Wall Street Journal today, two Arizona State University professors &#8211; Nobel laureate Edward Prescott and Lee Ohanian [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[19,27,5036,4993],"class_list":["post-25008","post","type-post","status-publish","format-standard","hentry","category-posts","tag-economy","tag-jobs","tag-obama-stagnation","tag-trump-bump"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/25008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=25008"}],"version-history":[{"count":4,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/25008\/revisions"}],"predecessor-version":[{"id":25015,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/25008\/revisions\/25015"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=25008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=25008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=25008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}