Leftists Desperately Try to Credit Obama for Trump Economy
How does Trump do it? By it, I mean win!
Democrats tried to convince America that the Wharton grad who turned $1 million into $10 billion is a financial idiot. And in contrast, the man who couldn’t rub two nickels together and never ran a company was a fiscal giant.
We all know who’s enjoying the laughs now!
President Trump’s economy is smoking hot. So much so that idiot-savant Leftists can only try their “Hail Mary!”, and give credit to Obama.
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Recently, Sarah Sanders quoted figures comparing Obama’s jobs creation vs. Trumps job creation during a press briefing.
Her figures were correct. However, the timeline wasn’t and she addressed the mistake on twitter:
Correction from today’s briefing: Jobs numbers for Pres Trump and Pres Obama were correct, but the time frame for Pres Obama wasn’t. I’m sorry for the mistake, but no apologies for the 700,000 jobs for African Americans created under President Trump https://t.co/EXGvbliwlS
— Sarah Sanders (@PressSec) August 15, 2018
This correction had leftists, again, discussing how Trump’s job creations, especially for minorities, should be credited to Obama’s time in office.
As I’ve written before, Trump’s claims about the black unemployment rate are somewhat misleading. While it’s undeniable that the rate has hit a new low, it is also true that black unemployment began declining during the Obama administration and has been falling steadily for the past several years. –P.R. Lockhart from VOX
Even Obama himself tried to take credit for Trumps economy In a speech about global climate change.
While it may be true that the black unemployment lowered during the Era of O, it certainly wasn’t based on job creation. Black unemployment went down in large part because blacks quit looking for jobs.
Americans Backslide Under Obama
Let us review the black labor participation statistics and how black American’s backslid under the first half-black president.
Consider that in January 2009 black unemployment was as high as 12.7% and then in March 2010 it skyrocketed to 16.8
Next, the percentage of black Americans struggling below the poverty line advanced, according to the most recent Census Bureau data, from 25.8 in 2009 to 26.2 in 2014 — up 1.6 percent.
And perhaps the most shocking was the number of black food-stamp participants.
It exploded across that time frame from 7,393,000 to 11,699,000, the U.S. Department of Agriculture reports — up 58.2 percent.
And what of this factoid: during his 8 long years as president, Obama presided over the LOWEST economic growth across the board in decades.
In 2008, 53 percent of all Americans considered themselves to be “middle class”. But by 2014, only 44 percent of all Americans still considered themselves to be “middle class”.
We had the lowest homeownership in America for seven years in a row under Obama.
62 percent of all Americans were living paycheck to paycheck under Obama.
The U.S national debt approximately double during the eight years of the Obama administration. In other words, under Barack Obama the U.S. government accumulated about as much debt as it did under all of the other presidents in U.S. history combined.
The poverty rate in the United States has been at 15 percent or above for 3 consecutive years. This is the first time that has happened since 1965.
From 2009 through 2013, the U.S. government spent a whopping 3.7 trillion dollars on welfare programs.
While Barack Obama has been in the White House, the number of Americans on food stamps has gone from 32 million to 46 million.”
Not exactly statistics on which one beats his chest.
Even if you wanted to argue Obama inherited a recession, he still had eight long years to turn the economy around. Remove the fake stats and understand that Obama added $10 trillion of debt, and you would think Trump would have inherited a rocking economy. But he didn’t.
What we got was Obama level-setting expectations. He told us that losing manufacturing jobs was the “new norm”. And in his last year in office he proved his statement, as he lost 17,000 manufacturing jobs. In contrast, to date President Trump has added 381,000 manufacturing jobs to the economy.
Enter Trump’s Magic Wand
Now, enter year two of the man who wrote “The Art of the Deal”. The man who saved Carrier on a dare after Obama and others said it could never be done.
Repeat, 381,000 manufacturing jobs in 18 months. 171,000 manufacturing jobs in his first year, and for those doing the math, 210,000 in his first six months of Year Two.
Trump brings high-paying, high-tech jobs from companies like Carrier, Ford, Softbank, US Steel, and now Alibaba.
I’d like to dare leftists reading this to find commitments like these made under Obama. But I’ll save you the researching time and answer for you: You can’t. And for good reason.
And then there are Trump’s tax cuts.
Obama taxed and regulated companies into oblivion. President Trump took quite a different approach by lowering taxes. The outcome?
Dozens of companies announced their return to America, and ALL credit the reduction of taxes from 35% to 21% as the reason. Then many companies gave out bonuses, which Nancy Pelosi called “crumbs”.
While Democrats call the $1,000 to $3,000 bonuses given out by companies “crumbs”, the people receiving them don’t feel the same.
Just read this pledge by Ford on their job creation by keeping a production plant in Kentucky rather than relocating to Mexico.
“We are encouraged that President-elect Trump and the new Congress will pursue policies that will improve U.S. competitiveness and make it possible to keep production of [the Lincoln Navigator] here in the U.S.,” Ford said in a statement.
This new approach to capitalism and economic growth invites businesses back to our great country and its citizens feel its rewards.
So throughout the time Trump is in office we will truly see who has the longest streak of job creation. But for now the results are in, and Trump is trouncing Obama’s puny economic gains.