Now I’m talking about prior to the pandemic but it seems to remain widespread, even on mainstream media, that Trump has been good for the economy — “we can at least admit that”.
But I just can’t understand how Trump gets away with that on the economy. His GDP was slightly LOWER than Obama's before the pandemic.
His job growth numbers were slightly LOWER than Obama's before the pandemic.
He did have the lowest unemployment but nearly all that drop occurred under Obama and the downward curve was weakening under Trump, before the pandemic.
Deficits were skyrocketing before the pandemic while deficits were going down under Obama.
And Obama poured a trillion dollars into the economy with his stimulus package -- and deficits were going down thus he was paying for it.
But Trump poured $3 trillion into the economy and his deficits were going up.
Thus, on every measure, he did the same or slightly worse than Obama. So why do people let the lie that Trump has at least been good for the economy ride? The best you can say is that he didn't screw up Obama's economy, but he did that with massive deficit spending.
Here are the numbers.
Average GDP for Obama's 2nd term = 2.36. This included 2 quarters that were over 5.
Average GDP for Trump up to the last quarter before the pandemic = 2.33. His highest GDP was 3.5.
During Trump's first 27 months in office, Trump created 5.4 million jobs.
Under Obama's last 27 months in office,Obama created 5.8 million jobs.
And again, Obama's stimulus was $1 trillion dollars and the nation was getting that back based upon the deficits were going down.
Trump poured $3 trillion into the economy and his deficits skyrocketed, thus they were not in any shape or form paying for themselves.
Unemployment went down 7 points under Obama, it went down 2 points under Trump, again prior to the pandemic.
The stock market went up 45% under Trump prior to the pandemic, it went up 300% under Obama though that was for 8 years. For his second term it went up 68%.
Now I understand perfectly why right wing media touts his phenomenal economic prowess, but why is the main street media not calling out this lie But not only that, why are people on the left letting this lie get repeated without calling him and his sycophants on it? I even saw an interview where Chris Hayes agreed with a pundit that Trump had at least been good for the economy.
Why? I’m truly curious. Are my numbers all wrong? And if they are please correct me.
(I keep repeating that my figures are prior to the pandemic because that needs to sink in)
But let me repeat my question. My question is why does all of our media seem to accept that Trump was at least good for the economy? Heck, he spent $3 trillion to do that!
(And never mind where we are today. And he can’t simply blame the pandemic as the EU is miles ahead of us on every measure)
