Former pres Obama is attempting to claim credit for todays economic success. He was making the false implication that because the economy was getting better under his presidency that he should claim full credit for what has been happening now even when he isnt the pres. This was based on tweet he sent earlier this week talking about the signing of his reform bill that was well over 10 yrs ago, there has been a big debate around who is responsible for this economy’s great success today. I can assure everyone that it is our pres, we have the greatest economy in the history of this country now and unemployment is lower than it has been in a while. There are certain stats that confirm the positive effects that he’s implemented that created more increase on the success of the country. I’ve done research on job growth statistic from Obama and Trump’s presidencies
One of the main arguments against my proposition is that “Obama started the economic accomplishments because of the recovery act’. This is factually incorrect. The only thing you can credit obama for in terms of our “economic accomplishments” is him getting the country out of the great recession. The ‘recovery’ act was explicitly made just to temporarily boost economic success to help the economy get out of the recession, there is no evidence that this or any other single bill can be fully attributed to any and everything over a decade passed the implementation of the bill. What people also fail to realize is that the recovery act was only a bill to add more government spending, this is factually proven that this will not lead to prosperous economy for a significant duration. The proof behind it is that the smaller the govt is, the more freedom people have to spend which in turn boosts the economy and Trump has proven it. Govt spending requires taking money from the economy, no way this is the only reason for the great economy we have under our president.
Another incorrect proposition people make is that “what Obama implemented is the only reason why the economy boosted after the recession” This is also wrong, it has already been proven by economists, whenever a recession ends, the economy reaches higher success rates than it did prior to a recession. This means that the fact that the recession ended to begin with, the economy was going to reach the areas that it has regardless of what was done economically. This proves that the success of the economy in the 2nd term of his presidency had little to do with his admin and more to with a defaulted effect of a previous market crash
Now to a very ironic part of this whole argument is that Obama admitted himself that “jobs werent going to come back” after people were wondering why certain jobs weren’t being created as much and he did nothing about this. Completely the opposite with our pres, we can debate about job increase year by yr but you can’t denying that things have been done in today’s economy that didn’t happen under our former pres that don’t have to do with the Obama
When you look at the success of the stock market for example, it was reaching highs after trump won election. The stock market started reaching all time highs less than yr after Trump implemented bills that helped the economy. His main accomplishments were tax cuts and deregulating businesses. This means that cooperations and business get to make a lot more money. As soon as this happened in ’17, the stock market, and job increase started surpassing the numbers over most of Obama’s years as pres. Not to even mention the gross domestic product, throughout Trump’s entire presidency the GDP has been higher than any year of Obamas entire presidency. In 18 most economic stats were higher than years of Obama and this was du e to what trump implemented to help the country
Another statistic is that average wage has increased and is higher than the yrs of Obama. This is bc Trump cut tax and people have more money to pay employees more, which causes people to have more money to spend into the economy. This is what created the greatest economy we have ever had, mainly due to what Trump implements. This proves that the smaller the government is, the more freedom you have to spend into the economy, which makes it better than ever. You also have our pres making us less reliant on other nations that help keep more money into the economy such as placing tariffs on China and making deals with the m and changing trade agreements that were bad for this country. Such as nafta and the trans pacific partnership. He’s also helped out impoverished communities with the urban revitalization act that helps out communities. Our former presiden Obama did none of this
Even after this, one thing that puts the argument to rest is Trump isn’t even finished w his first term. Most of the economy’s success under our former president was in his second term, and he did nothing to help it so imagine the economy under Trump 2nd term.
