Polls which rank how confident consumers feel spiked after the election and attributed it to the Republicans’ optimism about the economy. While this is good news for Trump, (and no doubt the economy as a whole) it is worth mentioning that the stock market has been making gains since its lowest point in 2009 and the financial crisis, and so the trends in the last year can be seen as a continuation of the overall trend. Since Election Day, stocks have been slowly rising, only seeming to balk with Congress’ inability to pass some sort of health care reform – a confident Congress enacting fiscal policy places confidence in the market. The Dow Jones industrial average, for the first time in history, has gone above 22000 points. In order to find a find middle ground between these sentiments, the question needs to be asked: Who is responsible for the continued economic growth? Can the strong partisan divide,ten months into Trump’s presidency, still enable the Democrats to claim that the present fiscal position is only possible because of President Obama’s decisions, while Republicans fire back and retort that it has only continued because of Trump’s choices? When is it time to set aside differing opinions towards the current president and concede that he may be enacting policies that do indeed help the economy or, has this not yet come to pass?Īs mentioned, President Trump has had no trouble taking the credit for the positive economic conditions, the decrease in unemployment, and the gains made in the stock market. The current economic state is instead a result of the decisions made by President Obama and his Congress. The counter to Trump’s claims have been that this economic growth is not a result of President Trump’s administration – his policies have not had time to make any significant changes on the US economy.
“At some point the Fake News will be forced to discuss our great job numbers, strong economy, success with ISIS, the border & so much else!” All of our work, including the passage of many bills & regulations killing Executive Orders, now kicking in!”Ĭommonly lashing out at large media corporations and calling them “fake news,” he has repeatedly credited himself with the economic growth seen since he took office, often lamenting over the fact that credit is not being given where “credit is due.” For example, his tweet on July 3 rd directly addressed this On June 11 th of this year, he tweeted out: Since entering office on January 20 th 2017, Trump has been quick to steal the limelight and take credit for this ever bolstering economy. Throughout 20, using Twitter as his medium, Donald Trump repeatedly criticized the way Obama handled the economy. The next President would begin his tenure with a healthy outlook for an expanding economy. Over 11 million jobs (nearly five times as many under former President Bush) had been created, annual wages had not only increased, but had stayed above the level for inflation, and “real” household income had grown by 5.2 percent, or $2800.
Despite this, when the Labor Department released its last job report in December 2016 for the administration, it seemed as if Obama had done it he had managed to revitalize the economy. In fact, at the start of his first term, he faced the worst financial crisis the United States had seen since the Great Depression. Hertie MIA candidate Madison Wilson touches on the polarization of these arguments and whether a President can ever truly receive credit for their policies.ĭuring both of his terms, President Obama was dogged by Republican counterparts concerning the economy. A politician’s popularity or reputation, in particular, often thrives or suffers based on the state of the economy. Economic growth is a constant talking point for politicians in the United States.