Sorry Obama, But It's Trump's Economic Boom, Not Yours

[Into the Night]

the Bush admin left a developing 2nd great depression.

No. the crash of 2007 was not a depression. It was a crash. Redefinition fallacy. Try English. It works better.

that you idiots own

No, the cause of the crash goes all the way back to the Clintons. it was also caused by inaction Bush, actions taken by Congress, and the Fed. Both Democrats and Republicans (mostly RINOS) are to blame. In other words, liberals.

Obama left trump a recovered and growing economy

WRONG. He turned a downturn that would have corrected itself and turned it into an eight year depression. He nationalized General Motors instead of letting it go through normal bankruptcy and recovery. He nationalized health care insurance and doubled the cost of that insurance. That program is dying of it's own weight now, though the damage is still there. He enhanced the trade imbalance with China through illegal payoff schemes. He called the stalled economy the 'New Normal', and that we would never see growth like we have today.

Trump has successfully renegotiated NAFTA in favor of the United States. He is successfully solving the trade problems with China even now. He has removed Obama's stifling regulations on business and lowered their taxes. He has lowered income taxes across the board for all income levels. He has simplified the tax forms for most people. People are investing in the United States again.

You don't own that

I don't own that, but Trump does.

Trump is giving us deep racist evil and a slowing economy

Inversion fallacy. It is YOU that is racist. It is YOU that is attempting to overthrow the United States and replace it with fascism by oligarchy.

You idiots own that

WRONG. LIBERALS own that.

 

[Into the Night]

Irrelevance fallacy.

 

[Terri4Trump]

Sorry Obama, But It's Trump's Economic Boom, Not Yours
https://www.investors.com/politics/editorials/obama-trump-booming-economy/

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

Let's see if we have this right.

For eight years, President Obama presided over the worst economic recovery in modern times. For six years, he blamed Republicans in Congress for thwarting his spending agenda and hampering growth. In his last two years in office, he claimed that 2% growth was the best we could hope for. And in his last year in office, while the economy was again stalling out, Obama claimed that Trump's tax cuts and deregulation would only make things worse.

But 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.

Yep. That's precisely what Obama and his Amen Chorus in the press want us to believe.

In his speech in Illinois last Friday, Obama complained that Republicans were taking credit for his work.

"When you hear how great the economy's doing right now, let's just remember when this recovery started," he said. "I mean, I'm glad it's continued, but … suddenly Republicans are saying it's a miracle."

This week, White House Council of Economic Advisers Chairman Kevin Hassett wisely set the record straight. At a briefing on Monday, he noted that just about every important economic indicator showed the economy was stalling out in Obama's last year.

Hassett explained that small business optimism had been on the decline before the November 2016 election. The percentage of businesses saying it's a good time to expand was, too. Business investment was stagnant. All those turned upward starting in 2017. Applications for new businesses are now well above the trend over Obama's entire second term, Hassett noted. And blue-collar jobs are growing faster than any time since the Reagan administration.

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%......(SNIP)

Just a pre-Covid reminder