It is time you fuckers stopped lying about the Trump presidency.
What President Trump Inherits
Candidate Donald Trump won the election claiming “our country is stagnant.” But President Trump actually inherits an economy experiencing steady if unspectacular growth in output, jobs and incomes.
Trump inherited a booming economy — and handed Biden a nation 'in shambles
More so than other presidents, and to the endless frustration of economists, Donald Trump correlated stock market performance with the nation’s economic health. However, President Joe Biden is unlikely to measure his own achievements by the gyrations of the stock market, economic experts say — and that message is likely to resonate with an anxious population.
“I doubt Joe Biden views the stock market as a barometer of his immediate success," said Thomas Martin, senior portfolio manager at Globalt Investments. "He is focused on the health and welfare of Americans. He will gauge success on how much he can flatten the curve, prevent deaths and get the economy back in shape."
For much of Trump's presidency, it was easy for him to claim credit for stock gains, since he was set up for success, economists say.
“The economy was in pretty good shape. Nothing was really out of balance,” said Dan North, chief economist for North America at Euler Hermes.
“If you're the average person, do you care if GDP was 3.2 or 3.4 percent? No, you care if you have a job,” said one economist.
www.nbcnews.com
Who Gets Credit For The Booming U.S. Economy?
So while the White House can certainly point to some yardsticks that indicate a meaningful turnaround on Trump's watch — including small business sentiment, business investment and goods-producing job growth — broader measures of the overall job market and wages show the economy continues to follow the steady, upward glide path that began under Obama.
No, the economy didn't suddenly get strong under Donald Trump
• Across a broad range of economic metrics, economic performance under Trump continued gains made during the final years under Obama.
One of the biggest themes of President Donald Trump’s State of the Union address — and one of the biggest themes of his
www.politifact.com
Did Donald Trump inherit 'a mess' from Barack Obama?
By the time Obama was inaugurated in 2009, the unemployment rate had spiked from 5 percent to 7.8 percent, on its way to 10 percent a few months later. A rising tide of middle-class families were losing homes, turning to food stamps and seeking government-sponsored health care for the first time.
Yet Obama handed Trump the reins of an economy with a 4.7 percent unemployment rate; 75 consecutive months of job growth; rising stock prices, home values, corporate profits and consumer confidence; low inflation; and, following several years of sluggish income growth, a record spike in middle-class incomes.
In 2016, increases in hourly earnings accelerated, which, when combined with increased rates of employment, helped boost overall household incomes. Real household debt is lower than it was in 2006.
"As 2016 ends, the U.S. labor market is in its best shape since the recession, with nearly every measure of the market at its most favorable level in years," economist Jed Kolko concluded in his end-of-the-year report for the jobs website Indeed.
In other words, Obama left the economy in much better shape than he inherited it, even if it remains imperfect for every American.
Did Donald Trump inherit "a mess" when he took the oath of office? He certainly thinks so. He used the phrase four times
www.politifact.com
