The last president to fit the job description trolled his unqualified successor on Twitter today on this holiday celebrating our nation’s greatest executive branch leaders with a pointed reminder of just who was responsible for the economic recovery from the disaster created by the last Republican administration.
Barack Obama celebrated both President’s Day and the eleventh anniversary of the signing of the Recovery Act — the bill that helped America dig its way out of the enormously economically perilous Bush financial market collapse and set us on the unprecedented unbroken stretch of employment expansion in history — with a tweet that reminded the public who rightfully deserves the credit for the current health of the U.S. economy.
Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history. pic.twitter.com/BmdXrxUAUf
— Barack Obama (@BarackObama) February 17, 2020
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While the current occupant of the White House likes to pretend that his policies are responsible for the continued economic expansion in our country over the past three years, a closer look at the numbers undermines Donald Trump’s constant boasts with the hard facts that President Obama’s tweet serves to remind us of.
“We’re producing jobs like you have never seen before in this country,” Trump bragged during a speech in Michigan recently.
Unless you are less than three years old, however, what you’ve seen is a decline in the rate of job creation compared to the last three years of the Obama administration.
“During Trump’s first 36 months in office, the US economy has gained 6.6 million jobs. But during a comparable 36-month period at the end of Obama’s tenure, employers added 8.1 million jobs, or 23% more than what has been added since Trump took office,” according to CNN, reporting verifiable figures that will surely be labled as “Fake News” by the current president.
While in general, the U.S. economy under Trump has benefited from the momentum generated from the Obama administration, thanks to the massive Republican tax cuts primarily benefiting billionaires and the tariff-inducing trade wars initiated by this president, America is facing a national debt that has increased by nearly 50% under Trump and a massive subsidy being paid to farmers squeezed dry by his trade policies— a subsidy that would be decried as “socialism” if it were being implemented by a Democrat.
With record homelessness and an obscene number of medical expense-induced bankruptcies plaguing the nation, it’s obvious that any upside from the Trump economy has primarily benefited corporate interests and domestic oligarchs and that we are only one market crash away from another Republican-inspired recession that will not be as easy to climb out of as the one that Obama rescued us from.
On this Presidents Day, let’s thank Barack Obama — the man truly responsible for launching the positive trajectory of our current economic situation which has continued until now despite Trump’s massive missteps — and work towards ensuring that we remove the current president before he can do more damage.