Frequently, Democrats have tried giving President Obama credit for the Trump economic growth. I won’t mince words — they’re lying through their teeth. The policies that President Obama put in place at the start of his administration produced pathetic economic growth. Stephen Moore highlights that economic growth during President Obama’s final year was 1.6%. During the campaign, economists ridiculed then-Candidate Trump when he said that his goal was 3-4% economic growth. They’ve already been proven wrong.
Let’s review President Obama’s policies, starting with high regulations that stifled economic growth. Big businesses weren’t bothered. Small businesses were hit hard. Incentives to invest in their businesses were essentially eliminated.
The Obama administration’s policies that were hostile against fossil fuels, pipelines and small businesses have been eliminated, which has led to improved economic growth and a huge increase in energy exports to other nations. The framework for a new trade deal with the EU includes a massive increase in sales of liquefied natural gas and other fossil fuels. The Obama administration was opposed to fossil fuels. The increase in fossil fuel production during the Obama administration happened because they fossil fuels on lands where federal permits weren’t required.
Obama shouldn’t get credit for opposing those policies. President Trump and the Republican Congress get the credit those policies because they’re the ones who implemented them.
The Obama administration raised taxes on small businesses and corporations. That resulted in companies hiding their money in other countries to the tune of $4,000,000,000,000. Now that that tax has been cut, the money is flooding back in and creating jobs here in the US. The Obama administration certainly shouldn’t get credit for opposing policies that increased economic growth.
Very few of President Obama’s economic policies are still intact. The turnaround in economic activity has been dramatic. In short, the Trump economy is growing fast. The Obama economy barely grew.
President Obama shouldn’t get credit for anything except that he showed us what not to do.
