The claim that US economy grew faster during Obama's last 3 years than it did during Trump's first 3 years.

30th September 2020 | Ennis85

[Ennis85]

So during and after last night presidential debate I've seen trending the claim that the "US economy grew faster during Obama's last 3 years than it did during Trump's first 3 years". I wanted to read into this so I was just wondering if there was an article be it recent or not debunking this?

[SmokingJoe]

Not a chance. Obama is the only president in history never to have had even one year of 3% growth in his entire 8 years in power.

https://www.realclearpolitics.com/2016/07/31/obama_only_president_in_history_to_never_have_3_growth_388233.html#!

[butlerweave]

The only things that grew during the Obama years were the Debt , Terrorism and Barry’s Nose

[Henchster]

Search is your friend:

U.S. GDP in billions:

President Trump doubled the growth of the Obola administration in their first three years. Obozo=12.5%, PDJT=25%.

[mbrfl]

The claim appears to be false, at least if you compare GDP growth rates. According to Government statistics (put out by the Dept. of Commerce?) the U.S. achieved a %13.175 increase in GDP over the years 2014-2016, and achieved a %15.18 increase in GDP over the years 2017-2019.

https://www.thebalance.com/us-gdp-by-year-3305543

These figures are arrived at by compounding the yearly increases listed in the linked table.

[bobby.223]

Maybe toss Big Mike’s ass in there in the grew category.

[aquila48]

Grew more under Trump. 7.73% vs 6.90%.

Year GDP Growth (%) Annual Change
2019 2.33% -0.85%
2018 3.18% 0.97%
2017 2.22% 0.65%
2016 1.57% -1.31%
2015 2.88% 0.43%
2014 2.45% 0.61%

https://www.macrotrends.net/countries/USA/united-states/gdp-growth-rate

[Sergio]

bkmk

[setter]

Obama came in at rock bottom economy and jobs. It had no where to go except back up.

[convoter2016]

I looked at Wikipedia:

(https://en.wikipedia.org/wiki/Economy_of_the_United_States#21st_century)

2013 GDP $16.785 trillion
2016 GDP $18.715 trillion
2019 GDP $21.439 trillion

18.715/16.785 = 1.115 and 21.439/18.715 = 1.146

So GDP grew 11.5% from 2013 to 2016. GDP grew 14.6% from 2016 to 2019. So the first 3 years of Trump the GDP grew more than the last 3 years of Obama. The main stream media got the claim wrong.

[monkeyshine]

When you use vague terms like “the economy” one can interpret that any way one wishes. By every objective metric I can think of, the claim that Trump’s first 3 pre-covid years were no better than Obama’s last year or three is preposterous. Maybe some people did worse, some did better, but overall jobs growth, GDP growth, unemployment etc Trump did way better.

[vigilence]

The jobs numbers under Obama were also skewed since many were part time/minimum wage.

[bakkentom]

Something to keep in mind is GDP growth is very low with the Fed supplying liquidity needed (money supply) to grow the economy despite huge debt loads (govt, personal, corporate). GDP low post-2009 with fed buying lots of treasure debt.

The distinguishing difference is the unemployment and labor participation rates. Middle class really helped with tax reductions. Businesses with both lower taxes and much less regulations. Tariff’s allowed industries like steel to hire again.

[UnbelievingScumOnTheOtherSide]

You do need to be accurate about 2013-6 vs 2016-9
Obammunism 2013-6: 18707 / 16784 = 1.1146 = +11.5%
Trumpism 2016-9: 21427 / 18707 = 1.1454 = +14.5%
US Population 2013-6 323.1 / 316.1M = +2.21%, 2016-9 328.2M / 323.1M = +1.58%, 2013-9 +3.83%
US Inflation 2013-6 6.08%, 2016-9 6.33%, 2013-9 12.79%
US GDP growth per capita in constant 2013 dollars:
Obammunism: 54580 / 53097 = 1.0279 = +2.79%
Trumpism: 57883 / 54580 = 1.0605 = +6.05%
6.05 / 2.79 = X2.168
Trump therefore MORE THAN DOUBLED real per capita income growth over Obammunism (X 2.168)

Hope that helps.

[UnbelievingScumOnTheOtherSide]

See post 14 above for the most accurate apples to apple computation.

[himno hero]

there is an argument for natural growth.
but,
go look at lumber futures, historical and the changes in prices.
go look at the changes in housing starts

you’ve gone from rece3ssion to expansion

all since 2016.
Then it becomes evident as to who did what.

[clearcarbon]

[HamiltonJay]

If the Obama economy had been booming in 2016, Hillary would be President right now... the claim is a joke that he handed Trump a booming or great economy!

[rfp1234]

Misleading. It's easier to "grow faster" from a lower baseline level (mostly due to Obozo's weak pseudo-recovery after the recession) than from a higher one.

And it was only as 'high' as it got in 2016 because the GOP congress, in spite of all its flaws, contained enough Tea Partiers to block Obozo from screwing things up even more.

[bakkentom]

The shale oil industry grew despite Obama and greenies in Congress. Most shale oil produced on private land. Obola can take credit since it happened on his watch.