I believe what is true. This is how it was before the pandemic.
The U.S. economy is in its 11 th year of expansion, with exceptionally low unemployment and robust job creation. There are signs that the economy may be weakening due to the trade war and other factors, but so far, it has proven resilient.
President Donald Trump claims credit for the strong economy, saying that he inherited a “disaster” from President Barack Obama and that he “accomplished an economic turnaround of historic proportions.” However, the truth is that by the time he became president, the economy largely had recovered from the Great Recession and was nearing full strength. The question is whether President Trump’s erratic policies will undermine the strong economy he inherited.
Trump inherited a strong economy that got stronger
Unemployment: Under Obama, unemployment fell from a recession-peak of 10 percent to only 4.7 percent. It has continued to drop and now is 3.5 percent.
Job growth: By the end of the Obama administration, the economy had experienced 76 consecutive months of job growth. Since Trump became president, the streak has been extended to 111 consecutive months.
Average monthly job growth: During the last 35 months of the Obama administration, non-farm job growth averaged 227,000 per month. During the first 35 months of the Trump administration, the average was 36,000 jobs per month less, averaging 191,000 per month.
GDP growth: Average real GDP growth was roughly the same (2.6 percent) for the first 11 quarters under President Trump (ending September 2019) and for the last 11 quarters of the Obama administration.
Income: During the last two years of the Obama administration, annual median household income increased $4,800. This is three times more than the $1,400 increase during the first two years of the Trump administration.6
Trump lost the popular vote in 2020. Had Obama been able to run again, Trump would never have been president. And he will never be president again.
