Trump's Economy: Report
In his narrative, everything was put in the tank when he entered the White House and took over from President Barack Obama.
Assessing this argument requires giving Trump's current economy something like a reference card, as well as comparing what it has done. with Obama. Let's start. "When I took over this economy, this economy was about to collapse," he said at Fox News in October. "We were at 1% of GDP, we are now at 4.2%, it was ready to collapse, it was the worst, and if you look at Depression – from the Great Depression – it was the worst recovery in our country's history."  Trump deflects Obama figures here: Gross domestic product grew at an annual rate of 2.6% in the fourth quarter of 201
8 and 2.9% for the year, rising by 4.2% a quarter earlier in 2018. But growth was 1.8% in the fourth quarter of last year by Obama in power and 1.6% in the last year of his rule, and not 1% of Trump
"We probably had the biggest first two years of each president in our history in terms of what we have achieved with employment, GDP, with everything," he told Laura Inghraham Fox News in February
Recently, a convention on republican activists, he said that if Hillary Clinton won the presidential election, the stock exchange will decline by 50% and he blows up on his own clock. "Instead of being nearly 50% in the stock market, you would be down 50%," he said. The market has actually grown by about 23% since it became president.
But despite some warning signs like surprisingly few jobs created last month, it is clear that Trump will claim that Obama is doing so wrong, doing it right and turning everything around.
Who gets credit?
The history of the current US economy is actually the economic boom of Obama-Trump, according to Alan Blader, a Princeton economist and former Federal Reserve vice president. He noted that the current economic expansion, 116 months, is among the longest in history (second place after Bill Clinton's 120-month expansion).
Taking into account the different ways economists worry about ending extensions, Blind does not do that. I see that some of them happen in the US, at least not in the next few months.
He does not look for Democrats who suddenly embrace Trump's tax cuts or trade, and does not seek a sudden embrace of the President. Obama's gift of dropping out of unemployment and a rising stock market could continue.
But the current boom needed Obama's extraordinary measures to end the Great Recession and perhaps Trump's efforts to give US companies tax breaks. These two very different ideologies have gathered together to master the country over the past 10 years.
Now, for an overview of some of the economic indicators that Trump can boast and some signs of concern and unfulfilled promises, he will have to answer for:
Working at Trump, Obama
19659002] Trump will have to hope that the record for job creation will continue. He will not be helped by employment reports like the one published on Friday by the Bureau of Labor Statistics, which showed that the US economy has added only 20,000 in February, at least since September 2017.
When Obama took office, the US economy was dismissing jobs at a frightening speed of more than 700,000 a month. The cutbacks eventually slowed and the United States added jobs every month from October 2010, the second year of Obama's first term. This began a record-breaking series in March 2018, which continues to this day, even with a surprising fall in February. So the boom has fallen into both presidents. It is difficult to compare the creation of Trump and Obama as Obama came into office when the economy was in a difficult situation and Trump took office when the economy – despite the claim that it was in the abyss – seems to be doing well.
Trump promised to create 25 million jobs in 10 years, and his economy saw about 4.9 million jobs in the first 25 months of his management. This is just a little less than the 5.3 million jobs Obama saw created in the past 25 months when he was in power, and also touched by the rising pace of jobs promised by Trump. Economics is growing, but not Republicans promised sustainable and remarkable economic growth as a result of Trump's economic policies, and in particular as a result of its tax cuts. US Gross Domestic Product – the total value of all US goods and services produced over a year – has grown between 1.6% and 2.9% each year since 2010. The growth of 2.9% in 2018 is very good, the highest since 2015. But this is not a 4% Trump promised as a candidate, or 3.2%, which the White House predicts more with the president's budget proposal for 2020.