Posted on 02/18/2020 10:21:32 AM PST by yesthatjallen
MSNBC's Joe Scarborough on Tuesday credited former President Obama for the current strength of the economy, arguing that "Barack Obama’s economy was much stronger than Donald Trump’s economy."
The opinion from the former GOP congressman and co-host of "Morning Joe" comes as both Obama and Trump have taken credit for an economy that includes the lowest unemployment rate in 50 years, rising wages and a soaring stock market.
“Eleven years later, the unemployment rate is down, the stock market is up and President Trump is raging on Twitter. He's not happy,” co-host Mika Brzezinski said, referring to the 11 years that have elapsed since the end of the Great Recession.
“Here are the facts," Scarborough added. "We've had 11 years of uninterrupted economic growth. It started with the majority through the Obama administration, and if you just take the three years that Donald Trump has been in office, you take that time period and you compare it to Barack Obama’s final three years, by just about every measure, Barack Obama’s economy was much stronger than Donald Trump’s economy.”
SNIP
(Excerpt) Read more at thehill.com ...
looks to my eyeball like the slope increased mid-way through the 2010-2020 decade
Compare the first derivatives, not the percentage increase?
I’ve been in construction for 42 years...this is the biggest expansion in my lifetime
“Who are you going to believe? Me or your lying paycheck?”
I was hoping by now someone would have debunked the original article I posted. It hasn't happened yet.
Mine either!
When obama was first inaugurated jan 2009 the djia was 7550. Now its 29000 something.
18332 djia day trump was elected.
Compare the interest rates under Obama's entire time in office versus Trump.
Obama had 0% almost his entire time in office.
Add to that the Fed's QE1 December 2008-June 2010, $2.1 trillion in artificial economic growth.
QE2 November 2010 through June 2011, added another $600 Billion in artificial growth.
QE3 September 2012 through October 2014, added another $4.5 Trillion in artificial economic growth.
$7.2 Trillion in artificial economic growth.
Nothing but smoke and mirrors during the Obama years.
Can’t believe that this SOB graduated from my beloved University of Alabama
From day one for Trump, those interest rates started at 0.66% and went to 2.44% in April 2019 and are now down to 1.58%
Interest rates are still low, but were at 0.0% during nearly all the quarters of the Obama years.
Interests rates were raised to slow the economy.
The Mika-whipped POS has hit the bottom.
The market had dropped from 14K to around 8.5k when he was elected and dropped another couple hundred before he was inaugurated. It bottomed out around 7000 near the end of February his first year.
Poor Joe. Had a dead intern in his congressional office.
Check six Mika.
5.56mm
At 7000, it had nowhere to go but up.
And yet it grew SLOWLY over that time.
Add to that having virtually free money at a fed rate of 0.0%
And $7.2 Trillion in 3 rounds of Quantitative Easing.
If any of the current crop of communists on the Dem side gets elected, we will look upon 7,000 with fond remembrance— when it craters to 4,000. “If only I had bailed out at 7,000.”
Thanks for filling in the details.
No doubt it had a lot of room to rebound but look at post 17 - the pace was pretty good.
LOL...Post #17 is mine!
Right. I was copying you since I referenced your post.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.