Trump inherited Obama’s economic success
September 24, 2017
Trump inherited Obama's economic success
Trump and his advisers have their chests puffed out about some recent positive economic numbers, about the only good news to come out of this administration. The Dow Jones Industrials (DJI) are around a record 22,000, unemployment is down to 4.4 percent, and growth in the Gross Domestic Product is up to 3 percent.
If you are impressed by these numbers, perhaps you need an example of some real economic growth. When you take office, the DJI is hovering around 10,000, unemployment is 10 percent, and the economy is flat on its butt with no growth in the GDP.
By the time you leave office, the DJI is setting records at over 20,000, unemployment is below 5 percent, the definition of full employment, and the GDP is growing at 2 percent.
Two percent is too low and it was stuck there for eight years, but it's hard to improve the GDP without increasing government spending and the fiscal conservatives in Congress were not about to go along with that.
If I were a Christian, I'd say the economy was born again during the Obama administration. Before you're too impressed with the measly pot the Trump administration is raking in, you might consider they were dealt a pat hand.
Recommended Stories For You
Fred Malo Jr.
Trending In: Letters to the Editor
- Area high school students survive car crash into Maroon Creek
- Aspen Skiing Co. embraces uphilling, but says safe travel must improve
- Pay hike helps Aspen Skiing Co. fill entry-level positions
- What’s the Big Deal: Red Mountain property fetches $14.675 million
- Aspen superintendent supporters urge board to not placate parents