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.
rickjnewman You need to CLARIFY that this chart is just a snapshot of the month of January. It is a one month snapshot.
rickjnewman Obama added like $10 trillion+++ to the national debt. The TARP act alone was trillions + BS war... all ridiculous wastes of money. THERE IS NO WAY THIS CHART IS ACCURATE!!! I am not a Trump sycophant, but I am one for the truth!
rickjnewman Trump ftw
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