The battle continues
I am again questioning many of another letter writer’s assertions based on the letter he wrote in last Sunday’s paper, about Rep. David McKinley’s, and now my, honesty.
The following information about GDP growth can be found at thebalance.com. I was incorrect in saying Pres. Obama never had two 3 percent GDP quarters in a row. In 2014, the 2nd and 3rd quarters had that growth. I just guessed in the first article. Whoops. Having 3 percent quarters when GDP is $15 trillion is not as tough as two 3 percent quarters when GDP is $18 trillion (Trump).
There are five types of GDP (who knew?) The first is just plain GDP. The second is an estimate of real GDP, meaning adjusted for inflation. Then there are 3 revisions to all these figures because the government can’t get it right the first time. The letter writer said between the 3rd quarters of 2009 and 2010, GDP grew 3.1 percent. Wrong. The 3rd revision comes to 2.2 percent. The writer said between the first quarters of 2014 and 2015, the GDP grew 3.3 percent. Wrong. The revised figure was 1.9 percent. He says the Obama economy grew approximately 2 percent. The total revised GDP figure for the 32 quarters is 1.844 percent. So, close enough, I guess.
I said Obama never gave us a tax break. The writer says Obama extended the Bush tax cuts. An extension of someone else’s tax cut is not a tax cut. He says that Obama gave us the “American Recovery and Reinvestment Act,” most commonly known as the stimulus. We all remember the stimulus. Just think “cash for clunkers.” Just think 1,100 car dealerships that lost their franchise rights somehow in the save-Detroit move. Just think Solyndra and other alternative energy companies where money was given to Obama friends and Democratic donors. They all failed. Just think shovel-ready jobs that never materialized. I am sure some people were given tax credits, unemployment benefits were lengthened from one to two years, and more people were added to the welfare rolls. A tax cut for the middle class and businesses never happened. Just google “tax increases under Obama,” and you will find at least 20 new taxes that were put into effect during his administration. These taxes, whether directly or indirectly, took money out of people’s pockets.
The 2017 Lazard Report that I am looking at does say that wind power is cheapest, but not solar. I originally looked at a government set of figures that said coal was the cheapest; so who knows?
The writer loves climate change and is again using data that I find to be somewhat incorrect. 2016 and 2017 were indeed very hot. According to climatologist Roy Spencer, in a February 2018 update, the former NASA scientist shows a chart on which the years 1998-99 were nearly as hot. The year 2000 started out at minus 0.05 percent below the mean average. 2009 was 0.1 percent below the average and 2012 was at the average. These figures are based on the global area-average lower troposphere temperature anomalies versus the 30-year average monthly means from 1981 to 2010. So much for 17 of the 18 hottest years occurring from 2000 to the present.
So, once again, who is being dishonest? Sir, please let the readers decide.