Trump is still riding the wave of Obama economic prosperity.
1. Employment is a LAGGING economic indicator; it responds slowly (employers are slow to invest in new hires, but also slow to lay off staff they have invested in). At this point in the Obama prosperity, the rate of job losses from the Bush economic meltdown had been reversed into job gains (which would continue for an unprecedented 84 months), but unemployment was still hovering around 10%, which of course Obama would bring down to under 4%.
2. The first nine months of the Trump administration were operating under the final fiscal year budget of Obama, so prosperity, stock market gains, etc., continued. Since the first Trump fiscal year kicked in, stock market gains have leveled off, the rate of annual growth (while continuing) has slowed, the rate of job gains has slowed (and we had the first month with job losses to end the record Obama streak) and the Obama steady reductions in the budget deficits to ONE THIRD of the record deficits Obama inherited from Bush are now being exploded by Trump back to Bush era levels.
Obama v Trump on jobs added:
2012 (Obama) — 2.2 million jobs added
2013 (Obama) — 2.2 million jobs added
2014 (Obama) — 2.6 million jobs added
2015 (Obama) — 2.9 million jobs added
2016 (Obama) — 2.5 million jobs added
2017 (Trump) — 1.7 million jobs added (riding the Obama momentum)
But CONservatives said the Obama economy was a disaster but say the Trump economy is “booming.” Sick and tired of CONservative two-faced, double-standard, hypocritical RACIST spin.
A self-made African-American success saved the economy and gets denigrated; a spoiled rich WHITE heir who inherited EVERYTHING from Daddy, failed at everything he ever did on his own, and falls far short of his predecessor, and here comes the white privilege applause.
Trump family profits at all-time highs! Emoluments! Bribes!
Trump is still riding the wave of Obama economic prosperity.
1. Employment is a LAGGING economic indicator; it responds slowly (employers are slow to invest in new hires, but also slow to lay off staff they have invested in). At this point in the Obama prosperity, the rate of job losses from the Bush economic meltdown had been reversed into job gains (which would continue for an unprecedented 84 months), but unemployment was still hovering around 10%, which of course Obama would bring down to under 4%.
2. The first nine months of the Trump administration were operating under the final fiscal year budget of Obama, so prosperity, stock market gains, etc., continued. Since the first Trump fiscal year kicked in, stock market gains have leveled off, the rate of annual growth (while continuing) has slowed, the rate of job gains has slowed (and we had the first month with job losses to end the record Obama streak) and the Obama steady reductions in the budget deficits to ONE THIRD of the record deficits Obama inherited from Bush are now being exploded by Trump back to Bush era levels.
Obama v Trump on jobs added:
2012 (Obama) — 2.2 million jobs added
2013 (Obama) — 2.2 million jobs added
2014 (Obama) — 2.6 million jobs added
2015 (Obama) — 2.9 million jobs added
2016 (Obama) — 2.5 million jobs added
2017 (Trump) — 1.7 million jobs added (riding the Obama momentum)
But CONservatives said the Obama economy was a disaster but say the Trump economy is “booming.” Sick and tired of CONservative two-faced, double-standard, hypocritical RACIST spin.
A self-made African-American success saved the economy and gets denigrated; a spoiled rich WHITE heir who inherited EVERYTHING from Daddy, failed at everything he ever did on his own, and falls far short of his predecessor, and here comes the white privilege applause.
Trump family profits at all-time highs! Emoluments! Bribes!