Who is responsible for the strong economy: Barack Obama or Donald Trump?
via AP

Who is responsible for the strong economy: Barack Obama or Donald Trump?

#ObamaSavedEconomy
#TrumpSavedEconomy
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President Trump has touted the strong economy as proof that his presidency has been a success. While Trump claims the GOP tax cut and months of deregulation have led to a stronger economy, many economists and pundits believe Trump has little to brag about—and we actually owe Barack Obama's policies for all the sustained economic growth. Obama is the one who turned things around after the recession and should get credit. What do you think? 📈

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#ObamaSavedEconomy
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#TrumpSavedEconomy
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President Trump and his supporters have pointed to the economy as proof of his presidency's success. The Dow Jones broke 25,000, unemployment continues to drop and consumer confidence is at an all-time high. More and more companies are announcing huge investments in U.S. manufacturing. We just keep winning.

Since the day Donald Trump was elected president in November 2016, the Dow Jones industrial average has risen by some 35 percent, making the last 14 months one of the greatest bull market runs in history.
The left was certain exactly the opposite would happen with a Trump presidency. To borrow a recent phrase from House Minority Leader Nancy Pelosi, President Trump's policies would cause "Armageddon" for family finances, the American economy and the stock market... When it comes to Trump's critics, so far almost all have been dead wrong. 

Trump says this is all thanks to him. The stock market is up because he got rid of all the regulations that were holding American businesses back, and the GOP tax bill has led companies to give their employees bonuses. He's a businessman, and so other business leaders are confident that he'll be doing what's best for corporate America. 

But many argue Obama, not Trump, deserves credit for the continued job growth. He was the one who turned the economy around in 2008 and got us out of a recession.

Economists argue Obama-era policies are actually responsible for the current economy, and Trump is just taking the credit. The numbers Trump are citing as markers of his success are trends that are continuing from the Obama era.

The stock market has been on a steady rise since the financial crisis. Trump's enthusiasm for removing regulations probably helped to speed growth a bit, but the stock market was already on the upswing before he got into office. Obama, however, deserves far more credit. After all, he inherited an economy that tanked during the financial crisis. It was his actions that stemmed the bleeding and jump-started growth.

Unemployment continues to decline, but again, that is a trend that started with Obama. Between 2010 and 2016, unemployment went down from 10 percent to 4.8 percent when Obama left. As of July, it is 4.0 percent.

Republicans are pulling off an economic scam that would have them screaming about “the end of the world” if Democrats tried the same.
“You are essentially paying for this growth with over $1 trillion of borrowed money,” said Shepherdson. “Had the other guys done this, you’d have claims that they were going to bring on the end of the world by tea time.”
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