Nothing about the economy changed. See below.
My feelings on the economy are different than most on the forum, in that traditional measures are not adequate and typically don't address the real numbers. 45% of the country makes less than $15 an hour, 70% lives paycheck to paycheck, half the country is on anti-depressants, etc so on. You guys have heard them before.
That being said, could you guys try to be a little objective about what Trump inherited?
There was 76 consecutive months of job growth.. That is 6 years and 4 months. That's just a fact. It is what it is.
The unemployment rate fell every year from 2009 to 2016 from 10% (due to the Bush Recession), all the way down to 4.8% when Obama left office. It's literally an identical continuation of what had already been done. It's great, for everyone involved. I am glad it continued on the same downward slope, but come on... Let's not act like Trump changed the graph.
The GDP grew for 29 consecutive quarters under Obama, and continued under Trump. Trump had a 3% quarter in September 2018, Obama had a 3.8% quarter in March of 2015. Trump juiced this a little with tax cuts, while significantly increasing to our national debt..... But regardless, we had 29 consecutive quarters of GDP growth when Trump came in. It's just more continuation, with some juicing from a corporate tax cut.
The S&P 500 grew 113% over Obamas terms. If you look at the charts, the markets have, like many other charts, continued on the EXACT SAME trend they were already on.
The DOW ended up hitting 118 "all time highs" (that you guys would call records) in the last 4 years of Obama. It increased 148% under Obama.
Trump inherited a DOW at nearly 20,000.... Today, it's 27,000. It's continued on the same upward trend it was already on.
All of these traditional measures... DOW, S&P, Unemployment, GDP growth, etc have continued on the exact same path. That isn't biased, it isn't false, it isn't some liberal narrative. It just is what it is. The economy was going up, and it kept going up.
When he says something like "the market has hit all time high under me!!!!"... Technically true, you just didn't see 118 tweets from Obama when it hit a high under his watch. Trump is apparently more effective at advertising it.
When Trump touts the black unemployment rate and tries to take full credit for it, what he isn't saying is that like a lot of these other numbers, it stayed on the exact same path it was already on.
Look at the chart... You could change the name of Obama and Trump to "Fred Flinstone and George Jetson" and it would have continued on that same slope.
I mean, it takes some serious gall to, with a straight face, use this number to say you've done more for an entire race of people than ANY OTHER President in history. IT'S ON THE EXACT SAME PATH! You can't just snap your fingers and take it from 16% to 5% over night. Just like it took Trump a few years to get it from 8 to 5.5. It's just on a continual downward path.
