Obama's Economy, Seriously?

[Justin Richardson]

National Economic Council Director Larry Kudlow stated:

What Mr. Booker (Farticus) and others are saying is simply not true factually." as he stated on Fox News' "America's News HQ".

He (Kudlow) went on to say:

• Kudlow spoke two days after the publication of the April jobs report, which showed that the American economy added 263,000 jobs last month while the unemployment rate fell to 3.6 percent, the lowest since 1969. Despite the rosy numbers, Booker insisted that the boom's effects were not being felt across all economic levels.
• "First of all, both are good and a rising tide is lifting all boats," Kudlow added. "But the point I'm making is, it's the blue collar people that have the fastest job expansion and it's the blue collar people that have the best wage growth."
• "I don't know how I had the energy to do that," Kudlow said Sunday. "I just walked out and, I don't know, man, let her rip. These are blowout numbers. The economy is going great guns and POTUS' [Trump's] policies, to be perfectly honest, his policies to rebuild this economy have entered us into a tremendous prosperity cycle. And I don't see any end to it right now."

(source: The Obama Economy vs. the Trump Economy)

 

[Rambunctious]

The notion that we are riding the Obama economy still with all of the changes Trump and his team made is ludicrous....if this is all the dems have its already over....all they want to do is tax more spend more and kill off the rise in GDP growth...the dems need people that need government...so they will ruin your life to get your vote....just like they ruined healthcare to take it over.....you get screwed and they get power....

 

[Justin Richardson]

The notion that we are riding the Obama economy still with all of the changes Trump and his team made is ludicrous....if this is all the dems have its already over....all they want to do is tax more spend more and kill off the rise in GDP growth...the dems need people that need government...so they will ruin your life to get your vote....just like they ruined healthcare to take it over.....you get screwed and they get power....

Let's rewind back abit to the Bush W and the Obama Economy.

Yes, I will admit fairly, Obama did partially get us out of the 2008 Recession (if that was what it was called at the time). But Obama wasn't elected until January of 2009, right? So, it was still Bush's economy.

In 2009:
As a result, the FY 2009 budget deficit was $1.4 trillion. This was the largest budget deficit in U.S. history.

Obama's FY 2010 budget deficit was $1.294 trillion. The FY 2011 budget deficit topped that at $1.3 trillion. It was delayed by the Republican House until a mere $38 billion was trimmed in March 2011. As the economy improved, each year's deficit was lower. As presidents are responsible for budget deficits, it’s useful to compare the deficit incurred by president.

Because of all this, the U.S. debt rose the most during Bush’s and Obama’s terms. That's because each year's budget deficit adds to the debt. Increases in the Social Security Trust Fund don’t get counted in the deficit. This “off-budget revenue” lowers each year's deficit but not the debt. That means a president's contribution to the debt will be higher than all his deficits combined.

Obama added $9.6 trillion to the debt, while Bush added $5.8 trillion. Find out why this is different from the deficit in Debt by President.

(source: The Balance)

My question (still) is...

How is it that Obama even got any jobs during his entire eight-year term, if the Unemployment was still so high?
My only guess was, he wanted to a Healthcare system (that later bears his name), and make sure that everyone - rich or poor to be implemented. Not really caring about the cost of people losing their jobs left and right...he only wanted to mandate the so-called ACA (or later be called "Obamacare".)
My guess he would think that would drive unemployment down and that would become his so-called "Legacy".

Am I correct on this?

 

[gallantwarrior]

The notion that we are riding the Obama economy still with all of the changes Trump and his team made is ludicrous....if this is all the dems have its already over....all they want to do is tax more spend more and kill off the rise in GDP growth...the dems need people that need government...so they will ruin your life to get your vote....just like they ruined healthcare to take it over.....you get screwed and they get power....

It does make sense that the Obamamites would claim President Trump's economic successes. Recall that they blamed all their failures on President Bush.

 

[rightwinger]

The Great Obama routinely added 263,000 jobs a month

To which Trump declared it a train wreck

 

[Justin Richardson]

The Great Obama routinely added 263,000 jobs a month

To which Trump declared it a train wreck

President Trump created 4.7 million jobs in his first two years. That's a 3.1 percent increase over the 152.2 million people working at the end of Obama's term.

When Trump is re-elected again for another four years, you can bet Trump will surpass Obama's entire time he was in office.

 

[Rambunctious]

Yes, I will admit fairly, Obama did partially get us out of the 2008 Recession (if that was what it was called at the time). But Obama wasn't elected until January of 2009, right? So, it was still Bush's economy.

A Bush economy with Pelosi and Reid running the economy from the house and the senate and a weak war embattled weary spineless Bush.....

 

[Toddsterpatriot]

The notion that we are riding the Obama economy still with all of the changes Trump and his team made is ludicrous....if this is all the dems have its already over....all they want to do is tax more spend more and kill off the rise in GDP growth...the dems need people that need government...so they will ruin your life to get your vote....just like they ruined healthcare to take it over.....you get screwed and they get power....

Let's rewind back abit to the Bush W and the Obama Economy.

Yes, I will admit fairly, Obama did partially get us out of the 2008 Recession (if that was what it was called at the time). But Obama wasn't elected until January of 2009, right? So, it was still Bush's economy.

In 2009:
As a result, the FY 2009 budget deficit was $1.4 trillion. This was the largest budget deficit in U.S. history.

Obama's FY 2010 budget deficit was $1.294 trillion. The FY 2011 budget deficit topped that at $1.3 trillion. It was delayed by the Republican House until a mere $38 billion was trimmed in March 2011. As the economy improved, each year's deficit was lower. As presidents are responsible for budget deficits, it’s useful to compare the deficit incurred by president.

Because of all this, the U.S. debt rose the most during Bush’s and Obama’s terms. That's because each year's budget deficit adds to the debt. Increases in the Social Security Trust Fund don’t get counted in the deficit. This “off-budget revenue” lowers each year's deficit but not the debt. That means a president's contribution to the debt will be higher than all his deficits combined.

Obama added $9.6 trillion to the debt, while Bush added $5.8 trillion. Find out why this is different from the deficit in Debt by President.

(source: The Balance)

My question (still) is...

How is it that Obama even got any jobs during his entire eight-year term, if the Unemployment was still so high?
My only guess was, he wanted to a Healthcare system (that later bears his name), and make sure that everyone - rich or poor to be implemented. Not really caring about the cost of people losing their jobs left and right...he only wanted to mandate the so-called ACA (or later be called "Obamacare".)
My guess he would think that would drive unemployment down and that would become his so-called "Legacy".

Am I correct on this?

Yes, I will admit fairly, Obama did partially get us out of the 2008 Recession (if that was what it was called at the time). But Obama wasn't elected until January of 2009, right? So, it was still Bush's economy.

The recession ended in June 2009....still Bush, right?

 

[Justin Richardson]

The recession ended in June 2009....still Bush, right?

It was still Bush's economy. But it fell under Obama's term until at least 2014. In 2010, The Dodd–Frank Act, which was signed into law by President Obama, was designed to restore at least some of the U.S. government’s regulatory power over the financial industry.

One may say it was a bad idea.