Economy

Obama Dares To Compare Himself To Trump? Here Are Some Facts He’s Trying To Hide

on

Kirsters Baish| We are nearing the end of the first 600 days of President Donald Trump’s time in office, and that means that it’s time to talk about the things that he has accomplished so far.

The best way to do this is to compare the results of the Trump administration to those of the administration that came beforehand, the Obama administration.

As we previously reported, former President Barack Obama made an appearance at the University of Illinois this past Friday.

During his speech, he criticized Trump without referring to him as “President.” Then, he had the gall to take credit for our country’s thriving economy, which can be properly attributed to the Trump administration.

Fox News’ Sean Hannity shared segments from the speech, comparing it to things that took place during Obama’s time in office.

We are getting close to President Trump’s 600th day in office, and it’s time to compare his accomplishments to those of the Obama administration.

Let’s start off the with the stock market… this one is a no-brainer.

Take a look at the DOW. After Obama was elected into office, the stock market, which was already doing poorly, crashed all together. When Trump was elected into office, the market shot back up. The stock market is a good representation of how our country’s economy is doing at any given time. It also gives us insight into what will become in the future.

Obama was elected President on November 4th, 2008. On this day, the DOW sat at 9,625. By March 9, 2009, the DOW had fallen so low that it was beginning to tank. It halted at 6,547, decreasing more than 30%.

When Trump was elected President, the DOW skyrocketed. The DOW sat at a comfortable 18,332 on November 8th, 2016. Since then, it has been climbing upwards.

That’s not all. The market is on a record-breaking streak. Since Trump was elected President, the DOW has closed on a new all-time high record 99 times.

Obama didn’t see a single all-time high during his first term.

He only saw 105 all-time highs between his initial election win and the time Trump was elected.

During the first year of Trump’s presidency, we saw the most ever all-time market closing highs.

There were 71, and it was also the biggest increase in the DOW’s history at 4,956.

Before 2017, the DOW never saw a year in its’ entire 100-year history with an increase of over 3,500. 4,900 was unheard of. In 1995, there were 69 all-time highs… and this was the most in any year until 2017.

The Gateway Pundit reports:

Since President Trump was elected President the DOW tied the record for the most all-time closing highs in a row.  In January of 1987 President Reagan saw the DOW increase to new all-time highs a record 12 days in a row.  In February of 2017, President Trump matched Reagan’s record.

The DOW reached its fastest 500 point increase between major milestones under President Trump.  In January of this year the DOW surpassed 26,000 and six days later the DOW surpassed 26,500.  Under President Trump the DOW has seen the fastest 1,000; 2,000; 3,000; 4,000; 5,000; 6,000 and 7,000 point increases in DOW history.   No similar records occurred during the Obama years.

Also, President Trump didn’t ride an Obama wave, the DOW under Obama went down in 2015 and stayed relatively flat until the 2016 election.

Now let’s talk about Russell 2000, a major index of small cap stocks in the United States that are recognized within the financial industry. The Gateway Pundit explains, “The 2000 companies in the Russell 2000 are the bottom 2000 companies in the Russell 3000.

These companies have seen incredible results as well since President Trump was elected President. The Russell 2000 reached 31 new highs in 2017 and this year already has reached 30 new all-time highs.

The Russell 2000 never reached a new high in Obama’s first 600 days and only reached 3 new all-time highs in his entire first term!

The other major indices are all the same, recording massive gains since President Trump was elected into office with dismal results in Obama’s first 600 days in office.”

Okay, so now we’re at GDP and Debt. Rex Sinquefield from Forbes wrote in October of 2016:

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.

Last quarter, President Trump achieved a 4.2% GDP.

Obama left our country’s debt in the trillions. When he left office, our debt had doubled to $20 trillion.

During Obama’s first 600 days, he increased our national debt by $2.8 trillion.

Even after inheriting all of Obama’s ever-increasing interest rates and the huge debt, Trump has only increased about half that, at around $1.5 trillion.

The GDP ratio is on its’ way down. Obama increased our country’s GDP ratio by 40%. In 2009, it was around 60%. By 2016, it was over 100%.

The job market speaks for itself. Fox Business’ Charles Payne reported on some important news in manufacturing.

From Making Money with Charles Payne:

Speaking of jobs, I looked at the ADP report yesterday, Tammy, 830,000 new manufacturing jobs in the last 19 months. The prior 19 months, 26,000.

Trump bested Obama by 804,000 manufacturing jobs since taking over White House when compared to the 19 months prior to the 2016 election!  These high paying jobs are the same jobs that Obama said would never come back.

In President Obama’s first 600 days in office, the US lost over (4.4) million jobs.  In President Trump’s first 600 days in office, the US has gained over 3.4 million jobs.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.