One of the things you have heard a lot this election cycle a lot about especially from Donald Trump and his lying cronies is how great the economy was when he took office.
I’ve consistently asked, ‘What Trump economy are they talking about?
Donald Trump inherited Barack Obama’s economy, and the numbers show that after he took over, the economy started on a downward slide on his watch. Democrats don’t talk about Obama’s economy. They allow Donald Trump to take credit for Obama’s work of eight years of straight and consistent growth and job creation, and that’s a fact.
These are provable facts, yet he keeps taking credit, and many people out there, including some black men, are giving him credit for an economy that he doesn’t deserve.
Donald Trump lies about everything; everyone knows he’s a pathological liar. President Obama spoke to that the other day when he talked about Trump taking credit for his economy. “What economy, that was my economy?” Obama mocked; finally, somebody was saying what needed to be said.
He doesn’t have an economy to talk to; Donald Trump has never earned anything or acquired anything that he hasn’t stolen from somebody.
When Donald Trump took office in January 2017, he inherited an economy that was steadily recovering under President Obama following the 2008 financial crisis. Obama implemented policies that pulled the US economy out a Great Recession which could have ended up as the Great Depression, another iteration of the Great Depression but it didn’t Obama saved the American economy and nobody talks about it, they give Donald Trump credit for it.
By the end of Obama’s presidency, the economy had seen significant improvements in several key areas, and the unemployment rate had fallen dramatically at its peak during the recession. Unemployment reached 10%, but by the time Trump was sworn in, it had dropped to 4.7%. Job growth had been consistent, with the US adding millions of jobs during Obama’s tenure.
The stock market was also in a strong position. The Dow Industrial Average had more than doubled from its low during the recession, reflecting growing investor confidence under Obama. Corporate profits were robust, and consumer confidence was at an all-time multi-year high. GDP growth, while modest, had stabilized, and the economy grew by about 2% annually. By the time Obama’s second term came around, far from the contraction experienced during the recession, inflation remained low, and interest rates were gradually rising, signaling a return to normalcy after years of ultra-low rates set by the Federal Reserve. Trump gave himself and his rich friends tax cuts, adding trillions to the national debt. Moreover, Obama had overseen a shrinking budget deficit, which fell from 9.8% of GDP in 2009 to 3.2% in 2016. Though the national debt increased, the rate of borrowing had slowed compared to the crisis years.
I don’t hear the weak and feckless reactive Democrats talking about these things. They sit back and allow the grifter, who has never accomplished anything in his life, to keep talking about his economy. In short, Trump was handed a healthy and stable economy with low unemployment, rising markets, and moderate growth, but with challenges like income equality and wage stagnation that persisted throughout both presidencies. What economy is Trump taking credit for? What did he do? I understand that his racist followers accept the lies he tells, but the blacks who stupidly fall for this are a real problem. Let’s set the record straight: Trump inherited Obama’s economy and wrecked it. Obama built that year after eight for eight years after George Bush’s failures, wars, and tax cuts for the very rich. And oh, by the way, Black men, the stimulus check you received during the pandemic, even though many of you should have received one because you contributed nothing. After all, you have no jobs; a Democratic Congress authorized those checks.
Trump wanted to prevent you from getting them, and when he found out he could not stop it, he had his name added to them,