Trump’s Economic “Boom”? No, Not Hardly
One of the lies Trump and his sycophants repeat ad nauseam is that simply because of him, the economy is “booming” and growing like “never before in US history”. That’s complete bullshit of course, and NO economic performance number supports Trump’s boasting. Trump’s greatest accomplishment has been fortunate to have followed Barack Obama who bucked huge political obstruction to kick start the economy by pumping billions into rebuilding industries and extending unemployment benefits to out of work Americans. Anyone who has studied Economics 101 knows that a key tool for bringing an economy out of a downturn is INCREASING government spending to get people back to work. Obama fought the Repubs tooth and nail, and succeeded. Trump is the beneficiary of that courage, as our economy is simply on the same trend line established by Obama policy. In fact, Trump is trailing behind some measures established by Obama because of his idiotic trade war.
Here are a few examples:
US GDP Growth
S&P 500
Job Growth
Remember when Trump promised 6% GDP growth? To bring coal back? To increase manufacturing jobs? None of those promises have been kept. None. Essentially, the economy has continued its up and to the right trend more in spite of Trump rather that because of Trump.
Even though it’s denied by Trumpists, truth does matter. And the truth is that the economy left by Obama is strong enough to so far resist Trump’s destructive infestation of the White House.