Trump has been bragging about the 4.1% GDP growth for the second quarters as it is best thing happened to the US Economy. Considering that the two previous quarters had a 2.2.and 2.3% growths, the following stats don’t really give you a full picture of the economy. Because, it is just a slice of the economy and only used because of Trump choose this particular time period of his presidency. When you compare the same time period numbers to the previous presidents, he hasn’t accomplished much.
Here is why. When Trump took the office the GDP had grown 1.8 % on the 4th quarter of the 2016. On the Second quarter of 2018 GDP grew by 4.1%. When the GDP compared to what he had inherited, the GDP growth difference is 2.3%.
Now the unemployment rate: When Trump took over the unemployment rate was 4.7% and on a decline on December of 2016 and now is at 4%. An improvement by 0.7%.
When Obama took the office the GDP growth was -8.2% for the 4th quarter of 2008 and on a free fall. On the 2010, 2nd quarter of Obama’s administration GDP grew by 3.9%. Combining the difference from what he inherited, the GDP grew by 12.1%. (Obama had achieved 4% to 5% GDP growth 4 times during his presidency.)
When Obama took the office the unemployment rate was at 8% and also was on a free fall. By the end of Obama’s term the unemployment was at 4.7% and had a 3.3% improvement.
Inherited Growth GDP Growth on Y.2, 2nd Q Difference (Unemployment)
Trump: 1.8% GDP 2016 4th Q and was 4.1% on 2018. +2.3% (4.7% to 4% +0.7%)
Obama: -8.8% GDP 2008 4th Q and was 3.9% on 2010 +12.1% (8% to 4.7% +3.3%)
GWB: 2.3% GDP 2000 4th Q and was 2.2% on 2002. -0.1%
Clinton: 4.1% GDP 1992 4th Q and was 5.6% on 1994. +1.7%
GHB: 5.4% GDP 1988 4th Q and was 1.6% on 1990. -3.8%
Reagan: 7.6% GDP 1980 4th Q and was 2.2% on 1982. -5.4%
A dismal, typical performance by another Republican president! There is really nothing to brag about!