Posted on 06/03/2019 2:08:57 PM PDT by Diana in Wisconsin
Democratic Party candidates for President in 2020 have been claiming that Trump’s economic successes are really the result of Obama administration policies.
A while back, the Federal Reserve Bank of St. Louis created a summary report that measured the American economy while President Obama and the Democrats were in control.
It’s a trip down memory lane, and shows that Democrat claims about the “Obama Economy” are nothing but smoke and mirrors designed to fool the American people.
While Democrats were in charge everything that should have been up, is down, and everything that should have been down, is up. Take a look at this:
Meanwhile Reuters reports that the economy under President Trump is booming and workers are reaping the benefits.
Three quarters of Americans surveyed by the Federal Reserve last year said they were living comfortably or doing OK in 2018, roughly unchanged from the year before but continuing a six-year trend that has reflected the ongoing economic recovery and falling unemployment, the Fed reported on Thursday.
“This generally positive assessment of economic well-being is consistent with the continued economic expansion and the low national unemployment rate,” the Fed said, noting the steady upward trend in the survey results since 2013, the first year it was conducted. At that point just 62% of households felt they were OK or living comfortably.
The change over last year, however, was not considered statistically significant, evidence that a round of tax cuts, wage hikes and strong 2018 growth had not registered deeply in household sentiment that may have plateaued.
The central bank’s latest Survey of Household Economics and Decisionmaking also pointed to some continuing gaps in the recovery.
Around 12% of respondents still said they could not cover an unexpected $400 expense, similar to last year, and 30% reported they were “either unable to pay their bills or are one modest financial setback away from hardship.”
That was a decline from 33% in the year before, but still evidence of financial fragility.
In addition, “another year of economic expansion and the low national unemployment rates did little to narrow the persistent economic disparities by race, education, and geography,” the Fed reported.
Among those without a high school degree, around 68% of whites still reported doing at least OK, compared to 61% of blacks and 58% of Hispanics. For each race, the number was about 20 percentage points higher among those with a college degree, with nearly 90% of college-educated whites saying they were financially alright.
The online survey, covering 11,440 adults in October and November and weighted to be nationally representative, captured the mood of households across a broad set of issues as the U.S. economic recovery approached the decade mark.
Its 19 sections included questions not just about income and employment but neighborhood satisfaction and the prevalence of gig work. The survey found 30% of respondents had done some sort of temporary work over the year – including things like dog walking alongside tasks like driving for a ridesharing company – and were slightly more likely to have trouble meeting emergency expenses.
Surprisingly, at a time when housing costs in “superstar” cities like San Francisco have become a focus of discussion, the survey found that even those with lower incomes for those cities reported being more satisfied with their housing and neighborhoods than those in less-expensive places.
“Adults with relatively low income for their city are slightly more satisfied with their housing and neighborhoods in more expensive cities,” the Fed concluded, a finding that may counter theories that high housing costs are dissuading people from moving to those places.
Great Post!
I have the most STARTLING chart EVER of the Trump recovery.
I received NO INQUIRES about work on LinkedIn the WHOLE TIME obummer was president.
I have received maybe SEVERAL HUNDRED since Trump took office.
I swear to that. Because it sounds too impossible to believe.
In fact it sounds insanely and absurdly impossible.
But it’s the truth.
Excellent summary.
Hi.
The only reason President Trump was able to accomplish this great economy is that he has a “magic wand.”
5.56mm
Yeah, it’s not ALL Sunshine and Roses, but when has it ever been?
I managed a multi-million dollar operation during the 0bama Reign of Error. It was amazingly difficult to keep the ship afloat due to 0bamacare and all that entailed, suddenly 32 hours was ‘working Full Time,’ etc.
I can’t say I shed a single tear for any Liberal I had to let go though, LOL!
You know the drill. I did it, and turned a profit for my Overlords, but I retired in 2016 and I ain’t never goin’ back, LOL!
Great post, Diana!
Sounds good!!
I bet you’re enjoying it :)
That’s rasis! Piple gots to aks who make pictures upsidedown? /s
A lot of those graphs seem to end in 2012 and 2014. Many of them show negative trends before Obama took office. I know the Obama “economy” sucked, but these charts aren’t impressive in showing it.
The Obama Economic Disaster Revealed in a Single Glance with a Lot of Squinting, Parsing and Recentering
Is it too much to ask that someone who wants to give you something "in a single glance" put all the charts on one timeline and highlight the Obama years? So you get the idea in like, a single glance?
And if "Next time you hear a liberal friend claim that Trump has done nothing for the economy or the American worker" you "send them this link and show them the single image above" they will probably reply:
"I looked at your single image. Every chart has a different timescale but as far as I can see without my magnifying glass not even one of them goes past 2015. So like explain the part about Trump again."
His policies, driven through all the agencies like the EPA, were so extreme businesses had no idea where the suffocating would end.
From a business perspective Obama had his foot on their throats. The moment they were free to breathe, along with the tax cuts, signaled to everyone that they’d better start growing which requires investment.
It’s so obvious yet the leftists will believe anything, they’re not thinking critically, they’ll believe whatever the left wing narrative is otherwise they’d have to question everything they believe.
My glance took in the stupid ‘cash for clunkers’ fiasco.
Sure, let’s destroy a few million reasonably good cars so my BiG Auto exec buddies can sell more new cars to people who can’t afford them. (and get those bigger bonus checks)
How many mom & pop shadetree mechanic shops did that put in dire straits for having no cars to repair/maintain?
And how many poorer drivers had their affordable (<$2,500) vehicles taken out from under them?
College ‘perfessers’ should not be allowed to even visit the White House, let alone run things from there!
Smoke and mirrors have become a reliable indicator of economic conditions, right up there with unicorn sightings and mining the pot of gold at the end of the rainbow....
There was even a song about it years ago, “Big Rock Candy Mountain”.
https://www.youtube.com/watch?v=tLKdxjCpw6U
Recall, Obama’s 700 Billion dollar infrastructure plan?
Shovel Ready? Solyndra Solar scandal …. leaving taxpayers with over 535 Million dollars in federal guarantees?
Just to name a few.
Yeah, -— Democrats only know how to destroy things.
Agreed.
Though I HATE to admit it, I was offered and found VERY good jobs under the rapist.
That could have been carryover from Reagan or the internet boom.
obummer DESTROYED prospects.
Trump brought them back to life.
In some ways, the Obama Economy was worse than the Great Depression. It lasted longer, for one thing.
One of the worst things was the huge amount of capital and companies that fled the U.S. for foreign countries. To be expected when you have the highest corporate tax rate in the developed world.
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