Fox News Sean Hannity gives an epic response to Barack Obama’s ridiculous speech in Illinois in which he took credit for President Trump’s accomplishments.
The Gateway Pundit presents an analysis of their compared economies.
It compares the stock market under both presidents:
After President Obama was elected President the already low stock market crashed. When Trump was elected the stock market skyrocketed. The markets are a gauge of the economy and include expectations of the future.
The day President Obama was elected President, November 4th, 2008, the DOW stood at 9,625. Immediately however, the DOW began to tank and by March 9, 2009, the DOW could go down no further as it landed at 6,547 for a decrease of more than 30%.
After President Trump was elected the DOW exploded. On November 8th, 2016, the DOW stood at 18,332. Since that date the DOW has soared and it never looked back.
Not only that, but the stock market has hit an all-time historic high under Trump. Since the 2016 election, the DOW has closed at new record all-time highs 99 times.
President Trump’s first year in office (2017) saw the most all-time stock market closing highs (71) as well as the largest increase in DOW history (4,956 points). Prior to 2017, no year in the DOW’s more than 100-year history ever saw the DOW increase by more than 3,500 points, let alone 4,900. The most all-time highs in a year prior to 2017 was 69 in 1995.
Comparing the GDP under both presidents, in October 2016, Rex Sinquefield wrote in Forbes that:
The Obama recovery of the last seven years remains the worst in postwar American history. Average gross domestic product (GDP) growth since the bottom of the recession in 2009 was barely above 2.1% per year. The average since 1949 is well above 4% per year during the previous 10 expansions.
This result is not just bad, it is catastrophic. The average American should not be wondering if his or her income is a bit above or below 2007 levels. Just by historical averages, the average American should be 20% better off than in 2007. And this slow growth is settling in as a permanent new-abnormal.
I believe the root cause of abysmal growth is the huge tax increases imposed by Obama and the Democrats in Congress since 2008. The most harmful were the increase in the capital gains tax from 15 to 20 percent, the increase in top bracket income from 35 to 39.6 percent, and the new tax of 3.8 percent on investment income in the Affordable Care Act (ACA). The massive increase in regulatory burden through the ACA and Dodd-Frank bills are also crushing, but unfortunately are harder to measure.
The last quarter under President Trump reached a GDP of 4.2%.
U.S. debt under both presidents:
Obama increased the amount of U.S. debt astronomically– having doubled it to $20 trillion, incurring as much debt as all previous Presidents combined.
Jobs under both presidents:
In President Obama’s first 600 days in office, the U.S. lost more than 4.4 million jobs. In President Trump’s first 600 days in office, the U.S. gained more than 3.4 million jobs.
Obama cannot take credit for anything other than failure. Anything else is just fiction.