Where Obama beats Trump on the economy by rickjnewman
President Trump claims he’s responsible for the “best economy in our country’s history.” Democratic presidential front-runner Joe Biden argues Trump lucked out by inheriting a strong economy from the “Obama-Biden administration.”
Context matters. A deep recession began 13 months before Obama took office in January 2009. It officially ended in May 2009, but the unemployment rate didn’t peak until five months later. Obama started in a hole, and weak jobs, earnings and GDP data for his first term clearly reflect that. Earnings and GDP growth improved along the way, and Americans, naturally, began to feel better off as job security improved and the unemployed went back to work. Stocks performed well under Obama in large part because a 57% crash in stock values ended two months after he took office. The ensuing bull market, now in its 11th year, transcends both presidencies.
To be fair to Trump, the Obama economy was touch-and-go at the same point in his first term, with hiring slow to rebound and growth tepid. By the end of 2012, however, voters were comfortable enough with the Obama recovery to reelect him by a wide margin. Voters will render the same verdict on the Trump economy in 18 months.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Obama without Obama-ism: 2020 Democrats embrace the ex-president but not his policiesDemocratic presidential candidates praise Barack Obama in glowing terms. But most are running on a very different agenda.
Read more »
Barack Obama 2012 was better than Donald Trump 2020Brad Parscale, Donald Trump's 2020 campaign manager, took to Twitter earlier this week to make a pretty bold claim. Here it is:
Read more »
Opinion | Obama and Biden can’t take credit for the soaring Trump economyYou almost have to feel sorry for Joe Biden, running against such compelling economic success.
Read more »
Trump administration rolls back Obama-era protection for transgender patientsThe Trump administration announces plans to roll back Obama-era health care regulations that provided nondiscrimination protections for transgender patients and women seeking to terminate their pregnancies.
Read more »
Donald Trump blames Obama, Bush, Clinton for China deficit: “They created a monster”The president told Fox News that Beijing “took advantage of us for many, many years.”
Read more »
Trump brands Rep. Justin Amash a 'loser' after GOP congressman said Trump engaged in 'Impeachable' conductOn Saturday, Amash became the first Republican member of Congress to publicly argue that Trump engaged in impeachable conduct while in the Oval Office.
Read more »
Pro-Trump group shifts focus after Trump campaign rebukeDonald Trump's reelection campaign is ramping up its criticism of outside political groups that purport to raise money on the President's behalf, prompting one super PAC to shift its focus to helping down-ballot Republicans
Read more »
Trump unveiled 'LGBTQ for Trump' T-shirts for Pride Month, and Twitter is not having it'Seriously, who in their right mind would wear this?'
Read more »
Opinion | The Impeachment DemocratsOpinion: President Trump has decided to call Nancy Pelosi’s bluff and offer a choice—impeachment or bipartisan progress
Read more »
The Truth Behind Trump Tower Moscow: How Trump Risked Everything For A (Relatively) Tiny DealPart of the reason the Trump Tower Moscow narrative confuses people is that there were 3 different attempts to attach the president's name to a Russian property in recent years. The 1st one emanates from the infamous 2013 Miss Universe contest
Read more »
The Truth Behind Trump Tower Moscow: How Trump Risked Everything For A (Relatively) Tiny DealCandidate Trump jeopardized his eventual presidency on a middling deal — and one that would have had Vladimir Putin's fingerprints all over it.
Read more »