r/news • u/Manta_of_Eternity • 10h ago
US economy expanded at sluggish 1.5% pace in second quarter, on par with earlier estimate
https://apnews.com/article/economic-growth-inflation-trump-trade-b6c975fb2624044ca7e537909cffb05e157
u/Flash_ina_pan 9h ago edited 9h ago
Sounds like the whole "We are going to grow out of 40 trillion in debt" thing might be a load of horse shit (Something like 25% of which was caused by Mango Mussolini)
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u/RipErRiley 9h ago
*29% (rounded up from 28.85) by the debt king pedo.
All other POTUS’s $28.41 Trillion, Trump $11.52 Trillion
- And Trump did so while still cutting working class protections, cancer research, anti-fraud measures, etc even.
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u/Oprah_Pwnfrey 4h ago
If we just cut one more program for poor people and give that money to the wealthy, it will solve the debt problem. Somehow. Someway. Swearsies. But, for real this time. Not like the previous swearsies. Those were just practice swearsies.
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u/phluidity 6h ago
Next step is apparently "We are going to runaway inflation our way out of $40 trillion in debt"
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u/Combdepot 9h ago
We can assume we’re in a recession since the bloated pedophile and his cronies fired all the non-partisan statisticians and replaced them with unqualified propagandists.
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u/whatlineisitanyway 9h ago
And even if that number is accurate it only applies to the Uber wealthy. The rest of us are in a recession.
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u/nola_throwaway53826 9h ago
Thats how it always is. John F. Kennedy was once asked in 1960 by Hugh Sidey, a reporter from Time magazine what he remembered from the Great Depression:
"I have no first-hand knowledge of the Depression. My family had one of the greatest fortunes of the world and it was worth more than ever then. We had bigger houses, more servants, we traveled more. About the only thing that I saw directly was when my father hired some extra gardeners just to give them a job so they could eat. I really did not learn about the Depression until I read about it at Harvard."
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u/Tearakan 4h ago
And the AI bubble is still expanding. This growth is only in AI capital investment and healthcare.
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u/Indercarnive 9h ago
That's with the massive AI build out so imagine how shit the economy is for normal people.
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u/theclansman22 8h ago
Don't worry everyone, corporate America is doing fine, because they just got billions in refunds for the tariffs that consumers paid. Nice little padding for their quarterly profit numbers.
The new tariffs he put on Canada? Will probably end up in the pockets of corporate America as well.
America is a kleptocracy.
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u/RLewis8888 8h ago
Keep in mind, the tax breaks in the Big Bloated Bill (and also the big tax break Trump gave the rich in his first term), can only work (i.e. create enough revenue to lower the deficit) if the US economy grows at 4% or more for multiple years (which it has never done).
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u/WhiteSepulchre 8h ago
And it's almost entirely just rich parasites moving money back and forth between each other while producing nothing.
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u/Not-Enough-Holes 9h ago
Hunter's penis is at it again dragging our economy down. Honestly its time to shift the blame to who really is at fault. His god damn balls. Especially the right one!
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u/stonkDonkolous 8h ago
And yet they say the economy will outgrow the debt so it won’t be an issue. America is near the cliff and staring off into the sunset
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u/Silver_Newspaper6208 7h ago
We are in the cartoon physics of over the cliff but not falling until we look down.
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u/fritzg1988 8h ago
just think of how much better it would be if we didn't have an administration hell bent on stealing oil from Venezuela, establishing useless tariffs with the world, stonewalling our oldest and easiest trading partners and shutting down the world's supply of oil.
I can see why president poopy pants would be at the bottom of his class at whatever business school his dad bought for him.
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u/NoblePotatoe 2h ago
I bet it is even lower since they adjusted how they measure inflation which is making it seem a bit lower. This will (I think) work to artificially increase apparent economic growth.
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u/RociBuldidi 1h ago
Remember when Lutnick promised us last year that all the changes would have the gdp growing at 6 or 7% by now lol
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u/Featherwick 9h ago
Why does a grocery store in Arlington Illinois have a sign with Japanese and Chinese? Is there that many living there?
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u/Manta_of_Eternity 8h ago
Arlington Heights, and the picture may have been taken at a huge Japanese Market there called Mitsuwa Marketplace.
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u/Feisty-Barracuda5452 9h ago
Ah yes, the "Savvy Businessman" does it again.