On President’s Day former President Obama decided to make the ridiculous claim that he is responsible for the Trump economy. Of course, this is just an obvious attempt to distract people from the success that PDJT has brought to the American economy. The Democrats need to have this lie accepted by Americans if they hope to regain the White House in November.
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
Obama’s compliant media allies rushed to back him with slanted stats trying to show that little has changed under PDJT. Take for example job creation. There are graphs that show a steady increase in available jobs from the bottom of the Great Recession. The problem? During the Obama administration the vast majority were part-time or contract jobs. Full-time jobs were hard to find. Applications for some full-time jobs sometimes exceeded a thousand. All of that has changed under PDJT. Full-time jobs now go begging for applicants as unemployment rates have hit historic lows.
Let’s take a look at some facts.
Deregulation
The approach of the two administrations couldn’t be more different. The Obama administration piled on the regulations while PDJT’s administration has been streamlining the business environment.
One of the fundamental transformations of America that Obama tried to institute was the top-down control of the economy by the government. This was part and parcel about trying to have the government manage the economy as has been done in all failed socialist and communist countries. The Obama administration never saw a regulation that they did not like. This made the business environment more costly and risky and inhibited businesses from expanding.
A major source of new regulations early in the Obama administration was Obamacare. Hundreds of new regulations made it into the Federal Register from this piece of legislation. All regulations add cost to running a business. For the first time in the history of America, more businesses died than were born during the latter years of the Obama administration.
Much of the time regulations just end up hurting small businesses’ while doing nothing to fix the problems they were intended to fix. Trump has made a great effort to slash needless red tape. During the first days of his administration PDJT signed an executive order that said that 2 regulations had to be removed for every new regulation put into place.
The business environment is more stable. Businesses believe that there is less chance the government will pull the rug out from under them with some ridiculous regulation. This encourages people to take the risk to expand their business and provide more jobs. PDJT’s administration has far exceeded his executive order as the current ratio of killed regulations to new ones is over 8 to 1.
Taxes
Another area where there has been a wide divergence in policy is taxes. Only the Democrats like taxes. No one else does. The Democrats are constantly looking for more ways to redistribute an individual’s hard-earned money. And they are very good at hiding this. The Democrats will tax business because “they can afford it.” Of course, these new business taxes are passed onto the consumer in the form of higher prices.
A major source of new taxes was that awful piece of legislation Obamacare. The law that “had to be passed so we would know what was in it,” contained a multitudinous number of new taxes and fees. Perhaps if Obamacare had actually saved consumers some money, there could have been some justification for this. However, premiums skyrocketed after its passage. Some individuals saw their premiums increase by 50% or more the first year. Everyone saw deductibles go through the roof. New mandates in coverage saw significant increases in costs for business.
PDJT led the charge for a reduction in taxes. The lower taxes he helped get passed, led to a lower tax situation for almost everyone in the country. Only a few higher income people saw their taxes go up.
PDJT has made the system easier to understand. And contrary to the claims of the Democrats and their allies in the media, those at the lower end of the income scale have benefitted the most. With fewer headaches and more money in their wallets, businesses are able to expand and help grow the economy. PDJT’s tax plan has had a significant impact in helping to expand the economy.
Paychecks
At the end of the Obama administration the median income for a family of four was no different than it had been at the beginning of the Bush 43 administration. Of course, the cost of living had gone up. So more and more families were dropping out of the middle class and were living paycheck to paycheck. Bankruptcies were on the rise as were suicides.
This has changed for most people in the Trump economy. With the economy booming, many are seeing more money in their wallets than ever before. This gives people a little more money to put back into the economy at the end of the day thus expanding it further. People are able to save making more money available for business expansion. Millennials are finding good paying jobs. They are moving out of their parents’ basements giving another impetus to the economy.
To think, letting people decide how to spend their own money is better for the economy! Now if only government bureaucrats and the Democrats could come to understand this, the country would be way better off.
Unemployment
Obama said that if the stimulus legislation that he proposed was not passed, unemployment during the Great Recession would hit 8%. So Congress passed the poorly thought-out bill (because they were cowards) and unemployment hit 10%. Minorities were particularly hard hit with some demographics reaching as high as 25% unemployment.
Under PDJT unemployment has hit historic lows. Minority segments of the population that the Democrats are always trying “to save” have never seen unemployment rates this low. Americans are finding jobs where previously there weren’t any. Many businesses have signs posted along the road outside their facilities advertising openings. This was never seen during the Obama administration. With more Americans having the ability to buy things, business is doing well and the economy is expanding even more as a result.
Obama created all of this? Not hardly. And this is just part one. More on this tomorrow.