Why is the US economy booming?

[brimic]

I've seen almost no wage growth for the 9 years leading up to 2017. These last 2 years have been boom time for me. Between raises and bonuses, I'm making ~30% more than I was in 2016, and my 401k and other investments has gone up by at least the same percentage.

Of course, that 9 year period meant taking on a lot more workload while colleagues got RIF'd, which only added to the stress and uncertainty.
The amount of efficiency gains and cost reductions made by the corporation really did set it up to boom once Obama was no longer available to put his boot on the neck of businesses. Currently, we have more business than we can handle for the forseeable future.

[Scout26]

Why hasn't the GOP majority killed Obamacare? Perhaps because they are also all in bed with insurance lobbyists?

Because McCain wanted to get back at Trump.

I took this job initially at lower pay then say a job with a agriculture insurance claims or as an agronomist at the elevator, due to cheaper health insurance and a pension. Now because the past and current governor of Iowa hates unions they are slowly stripping away the benefits that covered that difference in pay. That $2500 in tax savings? That will be gone with inflation of basic needs, food, fuel, clothing and utilities.

My pension isn't mine until I am vested for seven years, I'm just 3 years into it. The increase of my share into it to offset the losses from the 2007-2008 financial crisis. If I leave this job at 6 years 11 months 29 days, I lose out.

That's the choice you willing admit you made.  Less pay now for cheaper insurance and a pension.  How much did your insurance go up ??  How soes it compare to the rest of Iowa and the US ?  In case you haven't noticed, the  cost of health insurance is up, everywhere, a lot.   I would be willing to bet that your increase was less then the Iowa or National average increases.

And do you think you'll leave your job before your pension is vested ??

[MillCreek]

I had not seen a raise for over five years, and my position was eliminated in a financial restructuring in April.  Since there are so few jobs in my field, I am now working in a staff position for which I am dramatically overqualified for, at a different company in Seattle, with a $ 25K paycut and my commute has gone from 85 minutes per work day to four hours per work day.  So in my particular narrow niche of healthcare administration, things have been flat for a long time.  But it is certainly better than sitting at home, since I am too young to retire.

[charby]

How much did your insurance go up ??     I would be willing to bet that your increase was less then the Iowa or National average increases.

And do you think you'll leave your job before your pension is vested ??

% wise my share went up it went up 850%

I may leave my job before being vested, I do have a $$$ amount in my head that will make me say yes. Ag markets are just a bit soft for that amount to happen for a few years. Also depends upon how the Dicamaba soybean/cotton herbicides are labeled for the future. Same with 2,4-D tolerant beans being allowed in overseas trade.

[sumpnz]

So did you go from $1 to $9.50, or $100 to $950?  Per week/month/year? 

As my host-dad in NZ says, twice (or 850% of) bugger all is still bugger all.

At one end of that scale, it's still bugger all.  The other end of that scale, ouch. 

[charby]

So did you go from $1 to $9.50, or $100 to $950?  Per week/month/year? 

As my host-dad in NZ says, twice (or 850% of) bugger all is still bugger all.

At one end of that scale, it's still bugger all.  The other end of that scale, ouch. 

Somewhere in the middle of those

[DittoHead]

Enjoy the good years while they last, we'll be paying for them later.
http://thehill.com/policy/finance/406040-federal-deficit-soars-32-percent-to-895b

[MechAg94]

Enjoy the good years while they last, we'll be paying for them later.
http://thehill.com/policy/finance/406040-federal-deficit-soars-32-percent-to-895b

What was the record during the Obama years?

[Scout26]

$1485 billion or ~$1.5 Trillion

2009,  2010, 2012, 2013 were all over 1 Trillion a year Deficits

[Angel Eyes]

Probably more useful to view the deficit as a percentage of GDP:

https://www.usgovernmentdebt.us/spending_chart_2007_2018USp_19s2li111tcn_G0f_Recent_Federal_Deficits_As_Pct_GDP

[Scout26]

I know that this contradicts the Charby anecdote.  But it looks like wages are rising as we hit full employment. 

https://www.wsj.com/articles/u-s-employment-costs-rose-in-the-second-quarter-1533040473

[Pb]

I find the "republican" party's love of horrific deficit spending revolting.

[charby]

I know that this contradicts the Charby anecdote.  But it looks like wages are rising as we hit full employment. 

https://www.wsj.com/articles/u-s-employment-costs-rose-in-the-second-quarter-1533040473

Still not becoming disposable income since inflation is eating it up, still a loss.

[DittoHead]

This seems pretty accurate to me.

President Trump likely does deserve credit for a spike in small-business optimism. Currently, small-business owners are more optimistic than they have been in nearly half a century.

And the president has increased GDP growth through fiscal stimulus. Given the strong economy, stimulus is ill-advised, but it has juiced the growth rate.

But the president’s overall effect on the economy remains to be seen. On the plus side of the ledger is the new tax law, which — despite what you’ve heard from critics — should increase investment, productivity, and wages. On the minus side are a host of threats to prosperity, including racking up debt, refusing to tackle middle-class entitlements, harmful trade policy, crony capitalism, and attacks on international institutions.

[MillCreek]

https://www.cbsnews.com/news/trump-economy-obama-economy-administration-claim-fact-check/

Some interesting analysis there.

[Scout26]

Still not becoming disposable income since inflation is eating it up, still a loss.

How much more was in your paycheck after the Tax Cut?? 

[charby]

How much more was in your paycheck after the Tax Cut?? 

I already told you, my take home went down because my health insurance premium share went up. Happened right around the new tax tables were put in place.

[charby]

Just found out in the next 2 year contract that health insurance will be $1.92 cheaper a month. Trump is awesome!!! Sweet extra $23 to spend for the year.

[Ron]

The healthcare industry reflects the Republican and Democrat collusion to protect/increase industry profits while providing the minimum care to everyone.

Trump hasn’t been able to do much of anything on this front due to the D’s and R’s.

[Frank Castle]

Why hasn't the GOP majority killed Obamacare? Perhaps because they are also all in bed with insurance lobbyists?

The healthcare industry reflects the Republican and Democrat collusion to protect/increase industry profits while providing the minimum care to everyone.

Trump hasn’t been able to do much of anything on this front due to the D’s and R’s.

My option,

Trump wants a second term. Taking on Obamacare, at this time, will hurt his reelection chances.   

[Pb]

The healthcare industry reflects the Republican and Democrat collusion to protect/increase industry profits while providing the minimum care to everyone.

Yes.  The health care, insurance and drug industries is ripping us.  And congress thinks that is just fine.

[Hawkmoon]

Paychecks need to start booming, imagine what a 10-15% pay increase would do to GDP.

10-15%? Piker! How about just going all-in for a 3500% pay increase, like in Venezuela?

http://www.fltimes.com/tns/international/maduro-s-huge-salary-increases-force-percent-of-venezuelan-stores/article_c1492765-34d4-55dc-87bb-ec97b8abe142.html

[MechAg94]

Just found out in the next 2 year contract that health insurance will be $1.92 cheaper a month. Trump is awesome!!! Sweet extra $23 to spend for the year.

Maybe you would prefer the previous administration.  I am sure they would have told you your health insurance will get cheaper.

[MechAg94]

I find the "republican" party's love of horrific deficit spending revolting.

I don't like that either, but trying to lay that solely at their feet is not really accurate.  A handful of Republicans are the only ones I see talking about it as a bad thing anymore. 

[Pb]

I don't like that either, but trying to lay that solely at their feet is not really accurate.  A handful of Republicans are the only ones I see talking about it as a bad thing anymore.  

That's the problem.