In his speech on Friday, former President Barack Obama took credit for the Trump economy, claiming basically that the good numbers were because of him and were ‘no different’ from his numbers in 2015 and 2016. But Americans brought him up short with his own record and his own words.
From NTK Network:
By the time I left office, household income was near its all-time high, and the uninsured rate had hit an all-time low, and wages were rising, and poverty rates were falling. I mention all this just so when you hear how great the economy is doing right now, let’s just remember when this recovery started.
When you hear about this economic miracle that’s been going on – when the job numbers come out … and suddenly Republicans are saying, ‘It’s a miracle!’ I have to kind of remind them: actually, those job numbers are the same as they were in 2015 and 2016.
And yet not at all. As Jonathan Trugman wrote in April of last year:
Last week the Commerce Department released its third revision for fourth-quarter 2016 gross domestic product. The number came in at a paltry 2.1 percent, meaning that growth during President Obama’s final year in office — the end of an “Error of Hope” — landed with a big thud at just 1.6 percent.
That low-water mark puts the Obama presidency in last place among all the post-World War II presidents when it comes to economic growth.
Johnson (1964-68), 5.3 percent
Kennedy (1961-63), 4.3 percent
Clinton (1993-2000), 3.9 percent
Reagan (1981-88), 3.5 percent
Carter (1977-80), 3.3 percent
Eisenhower (1953-60), 3 percent
Nixon (1969-74), 2.8 percent
Ford (1975-76), 2.6 percent
G.H.W. Bush (1989-92), 2.3 percent
G.W. Bush (2001-08), 2.1 percent
Truman (1946-52), 1.7 percent
Obama (2009-16), 1.6 percent
CNBC called the American economy a “tremendous achievement” for Trump, highlighting that “during his time in office, the economy has achieved feats most experts thought impossible. GDP is growing at a 3-percent plus rate. The unemployment rate is near a 50-year low. Meanwhile, the stock market has jumped 27 percent amid a surge in corporate profits.”
And it’s now topping 4% under Trump.
With things that Obama was politically unconstitutionally unable to conceive – tax cuts, deregulation, concentration on the American worker. As CNBC notes, a uniquely Trump/GOP achievement.
It takes some gall on the part of Obama to claim credit for something he deemed impossible as this video notes.
In 2016, Obama asked what magic wand Donald Trump has to bring jobs back to America because they aren’t going to just come back.
Two years later, Obama is taking credit for the jobs President Trump is bringing back.
— Jack Murphy (@RealJack) September 9, 2018
Yes, former President Obama. There was an answer to it. And it didn’t take a magic wand.
It’s called applying conservative thought to the economy and watch it boom.