Former U.S. President Barack Obama celebrated President’s Day by taking credit for the job growth created during President Trump’s time in office.
On Monday, Obama looked back at his signing of the Recovery Act, which he credited for prompting “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. pic.twitter.com/BmdXrxUAUf
— Barack Obama (@BarackObama) February 17, 2020
“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 wrote in a tweet.
In fact, the economy under Obama was the most worst since World War II, despite being largely propped up by the Federal Reserve’s unprecedented decade-long zero percent interest rates during his two terms.
Obama and his administration officials like Joe Biden have been trying to take credit for Trump’s economic boom for years.
But many data points, such as small business optimism, capital spending, low unemployment, durable goods orders, manufacturing jobs, welfare, stock market performance, and GDP show that Trump’s America First policies of deregulation and lower taxes actually completely reversed the negative economic trajectory of Obama’s policies.
Remember, Obama mocked Trump preceding the 2016 election, asserting that he would need a “magic wand” to bring jobs back to America.
Trump also pulled the U.S. out of growth-killing globalist policies, such as the Paris Climate Accord, the Trade Pacific Partnership (TPP), and the General Agreement on Tariffs and Trade (GATT), and is pushing for more reciprocal trade deals with China, Mexico, Canada, Japan, and the European Union.
Learn about one of the best kept metrics on the economy: the debt to GDP ratio.
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