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The Guardians of Democracy

The Guardians of Democracy

Trump Rages Against ‘Con Job’ Obama After He Takes Credit For Historic Economic Boom, Job Creation


Trump Rages Against ‘Con Job’ Obama After He Takes Credit For Historic Economic Boom, Job Creation

President Trump on Monday angrily lashed at Barack Obama after the former president commemorated the 11th anniversary of the Recovery Act, legislation that paved the way for the “longest streak of job creation in American history.”

“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,” Obama tweeted.

Trump responded hours later, tweeting: “Did you hear the latest con job? President Obama is now trying to take credit for the Economic Boom taking place under the Trump Administration. He had the WEAKEST recovery since the Great Depression, despite Zero Fed Rate & MASSIVE quantitative easing.”

He continued: “NOW, best jobs numbers ever. Had to rebuild our military, which was totally depleted. Fed Rate UP, taxes and regulations WAY DOWN. If Dems won in 2016, the USA would be in big economic (Depression?) & military trouble right now. THE BEST IS YET TO COME. KEEP AMERICA GREAT!”

CNN recently noted that “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.”

CNN adds:

The average monthly gain so far under Trump is 182,000 jobs. During the last 36 months under Obama, employers were adding an average of 224,000 jobs a month.

The job record under Trump is far better than the job record during Obama’s first 35 months in office, when the economy lost 805,000 jobs. But Obama took office in the midst of the worst financial crisis since the Great Depression. In the final job reading before Obama took office, the economy lost 784,000 jobs in that month alone. And it continued to lose jobs throughout the rest of 2009 as Obama’s economic policies went into effect.

By comparison, Trump took office with the labor market in relatively good shape, with unemployment at 4.7%, and a string of 76 straight months of job gains. The labor market has clearly continued to improve. Unemployment of 3.6% in January is nearly at a 50-year low now. But it is a continuation of an improving job market, not the turnaround that occurred in the early years of the Obama administration.

The Trump campaign also criticized Obama’s tweet, saying in a statement to Fox News that the economy is recovering because of Trump’s efforts, not Obama’s.

“Obama and Biden orchestrated the worst economic recovery in modern history,” Trump campaign national press secretary Kayleigh McEnany said in the statement. “By contrast, though, deregulating, lowering taxes, and supporting free-market policies, President Trump has created the hottest economy on record.”


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