Now that we're in the midst of a booming economy — which kicked in after Trump reversed almost all Obama's economic policies — we're supposed to believe that it's Obama who deserves all the credit.
Yes, Trump inherited Obama's broken economy. Of course democrats are quick to give the credit to Obama, but the reality is, Obama's economy was slowly bleeding america dry. Obama hated this nation, and this is no doubt that he took a number of actions that further crippled the US economy, intentionally, in an effort to destroy Americas standing in the world and let China rise to the #1 economy in the world. Those plans were supposed to continue with Hillary Clinton in charge.
Growth: Barack Obama is on the road attempting to claim credit for the booming economy under President Trump. But the only thing Obama deserves credit for is making it easy for Trump to undo Obama's anti-growth policies.
By adopting policies that put our nation first, such as cutting taxes to make businesses more competitive and allow workers to keep more of their paychecks, eliminating wasteful regulations, and protecting our workers from unfair foreign competition by renegotiating outdated trade deals, President Trump has been the polar opposite of his predecessor. President Obama heavily regulated the financial industry in an attempt to reduce economic risk, but this strategy of punishing bankers only ended up dragging down growth. He also championed poorly negotiated trade deals that put our workers at a disadvantage, such as the Trans Pacific Partnership that President Trump wisely scrapped after taking office.
https://thehill.com/opinion/white-h...merica-from-the-economic-oblivion-under-obama
The economic confidence that Trump has inspired among voters isn’t a fluke, either. For more than two years, he has fought hard to repair America’s economic engine, implementing pro-growth policies to restore the prosperity lost from the Great Recession through Obama’s presidency. That approach has paid tremendous dividends, with nearly five million new jobs created in just over two years.
In a recent interview with Breitbart News, Trump explained that he considers the economic recovery his biggest accomplishment, arguing that his effort to deregulate the private sector paved the way for economic growth across America. “Regulations were killing the country,” he said, referring to the draconian bureaucratic state established under President Obama. “We were going down.”
https://www.sun-sentinel.com/opinion/commentary/fl-op-com-taxes-trump-20190325-story.html
Trump’s policies have sparked the greatest economic renaissance America has seen in decades, and no amount of political spin can conceal that fact from the millions of Americans who are better off today thanks to his efforts.
https://www.whitehouse.gov/briefing...d-j-trumps-economic-agenda-working-americans/
The tax cuts are allowing American families to keep more of their hard earned money. Real disposable personal income increased by $2,300 from the end of 2017 to the fourth quarter of 2018. Business investment and productivity are on the rise thanks to the tax cuts. Capital Expenditures are up $300 billion from 2017. Private nonresidential fixed investment by nonfinancial businesses is up 9.2 percent. Business sector productivity grew at an annual rate of 1.9 percent, nearly twice the rate of the expansion prior to the tax cuts.
https://www.investors.com/politics/editorials/obama-trump-booming-economy/
Turnaround on GDP Growth
There's more. The rate of GDP growth was decelerating in Obama's last year. It went from 2.3% in Q2, to 1.9% in Q3 to 1.8% in Q4 of 2016. Under Trump, GDP growth has averaged 2.9%. It was 4.2% last quarter and might be higher in the current one. The stock market also was stuck in neutral the year before the November 2016 elections. The Dow is up by some 45% since then. Real median family income didn't budge from August 2015 to November 2016, according to Sentier Research. It's up more than 4% since Trump came into office. Wages are on the upswing.
In Obama's last year, unemployment rate remained basically unchanged — it was 4.9% in Jan 2016, and 4.8% when Trump took office in Jan. 2017. Now it's down to 3.9%
Regulations: Over 4000 EPA regulations issued under Pres. Obama
Since President Obama assumed office in 2009, the EPA has published over 3,900 rules, averaging almost 500 annually, and amounting to over 33,000 new pages in the Federal Register.The compliance costs associated with EPA regulations under Obama number in the hundreds of billions and have grown by more than $50 billion in annual costs since Obama took office. Such high costs, especially those related to the energy sector, ripple throughout the economy, impacting GDP, killing thousands of jobs, and increasing the cost of consumer goods.
https://www.atr.org/nearly-4000-epa-regulations-issued-under-president-obama
