Obama entered office at the beginning of the most severe recession since the Great Depression. Unemployment was at 10% yet the right blamed him for the economy. Obama ran a $1T+ deficit, the largest being the first year and a budget passed and signed before he took office. But the deficits were in part to help stimulate the economy and prevent massive losses that were certain if the banking industry was allowed to fail. He also cut the deficit from $1.4T down to $500B, unemployment to 4.6%...took the Dow from 7,000 to 20,000…Oil prices from $130/bbl to $36/bbl
Do I hear credit coming from your side?
Even at slightly higher interest rates, the current fed interest rates today are still ridiculously low (see chart below). They hovered between 5% and 6% all of Bill Clinton’s term…between 1977 and 1990 they were never below 6% and as high as 19%. I can see every POTUS from the last 100 years rolling their eyes to anyone whining about 2.25% fed rates.
And to correct you… the Fed dropped the rate to 0.25% in Dec 2008 and started raising them in 2015 and were at .75% when he left office. Today they sit at 2.25%. So the rise in rates began during Obama, not Trump.
How many jobs has Trump bought with his extra deficit spending? Were he more fiscally responsible his jobs numbers wouldn’t be as impressive. I don't hear the right talking about that...