As we head into a recession during an election year, isn't it important to remember how the economy was booming when Trump first took office?
Trump claimed he was responsible for the strong economy from the day he was inaugurated. Shouldn't we assign him the same responsibility for its weakness?
- 11 months agoFavorite Answer
It has irked me some that the DNC has not spoken out whenever the recessions-causing GOP and the inane, insane, corrupt to the core Donald Trump have taken undue credit for the economic recovery we achieved from policies passed between 2009 and 2011---policies that included a 37% Obama/Democrats-passed tax rate for billionaires and the wealthiest corporations which generated bills-paying, deficit-lowering revenues.
TRUMP HAS NO BUDGET IN PLACE. The only attempted Trump/GOP budget was killed in the Senate in 2017 because this anti-military-veteran budget would have sneakily taken away VA BENEFITS for war veterans with service-incurred disability status if these wounded warriors were OVER AGE 65! Trump decided these elderly American veterans should not be getting VA dollars and sought to take away the IU rating (Individual Unemployability) needed to quality for the monthly VA compensation upon which these elderly injured veterans depend!! We veterans lobbied furiously to kill that Trump attempt to dump us on the street in our 70s, 80s, and 90s---and got both Senator John McCain (R-AZ) and Missouri Senator Claire McCaskill (D-MO) to kill it.
The huge U.S. economy is like a swollen river that keeps on rising long after torrential rains have stopped, a.k.a., a "lagging indicator." Chris is correct in saying that the economy became strong under President Obama (see recovery.gov for details), with help from the (2009-2011) 111th "most productive Congress in more than 60 years" (as rated by C-SPAN News) headed by House Speaker Nancy Pelosi (D-CA) and Featherweight boxing champion Senator Harry Reid (D-NV). In 2008, the Dow Jones plunged to 6,900 under the always-fail bad fiscal policies of a Republican-controlled period from 2001-2008. These Republicans inherited President Bill Clinton's BALANCED BUDGET and his huge $362 BILLION SURPLUS in place from January 2001---and were still able to destroy our economy with unpaid for wars, unpaid for tax cuts for billionaires, and unpaid for corporate-colluding legislation that swallowed Bill Clinton's and the Democrats' $362 billion SURPLUS in one big-spending gulp and then went on the explode both the deficit and the national debt. The GOP economy was so precariously out of balance that they chose to keep $5.2 trillion in GOP spending (costs of both wars) OFF THE BOOKS, and then used propaganda to peddle the propaganda that this $5.2 trillion was "Obama spending" (which it never was). The first nine months of 2009 were still on the final FY budget of the fiscally nuts Bush/Cheney administration, just as the first nine months Trump was occupying our White House were still on the last Fiscal Year budget of recession-reversing Barack Obama. However, the Republican-controlled Congress (House and Senate) failed to pass any new budget after the 2017 Trump attempt to abuse our veterans was dead on arrival in the Senate, so McConnell and then-Speaker Paul Ryan chose to pass CRs (Continuing Resolutions) that simply EXTENDED Barack Obama's final FY budget ---and that is what we've been operating on until Democrat Nancy Pelosi worked out a new budget deal this past month that Trump has agreed to sign.
The fiscal insanity and chaos generated by the incompetent Trump administration has been wreaking absolute HAVOC on our economy, our markets, and on global markets that spell pending economic downturn for the U.S. and for our trading partners. Will brat-boy Trump "take credit" for the downfall?
- yLv 711 months ago
I'm curious, the left and the media have been screaming about us slipping into another recession from the time Trump took office. Do you think the repeated message has anything to do with consumer confidence, which plays a huge role in these things?
- xg6Lv 711 months ago
I actually listed to Rush Limbaugh on the radio yesterday and he claimed there was no recession coming. Of course Rush is also one of those people who thing the American economy drastically improved the very day trump was inaugurated and not a moment before
- 11 months ago
It took three years after Obama built a strong economy, but Republicans are doing what they do best - piling on debt, crashing the economy and dragging us into recession