Five Facts About The Obama Economy That Trump Does NOT Want You To Know

Number one — President Obama inherited one of the worst economies our country has ever seen

Trump likes to pretend he was handed “a mess” when he took office. Unfortunately, that’s just not true. By the numbers, consumer confidence is the highest in a decade, unemployment is under five percent, and the country has been adding jobs for 80 straight months.

Let’s compare that to what President Obama inherited — the November before he took office, 533,000 jobs were lost, and up to three quarters of a million jobs were being lost per month during the crisis. That’s over¬†half a million jobs lost in a single month. The United States was in the midst of the worst financial crisis since the Great Depression. Obviously voters have short memories, or they’d never have given control over the economy back to Republicans after the last fiasco. Hell, even Trump says the economy does better under Democrats.

Number two — Obama’s presidency oversaw the biggest decrease in personal debt compared to income ever, and the largest increase in hourly wages

From Bloomberg:

Obama took office during the worst recession since the Great Depression, when the economy was losing 750,000 jobs a month and already had lost a record 9 percent of GDP. He completed his two terms with the largest annual gain in the value of the dollar, the biggest annual decrease in household debt as a percentage of disposable income, and the largest annual increases in car sales and hourly wages. His presidency coincided with the second-highest annual gain in home equity and trailed only the Clinton period in deficit reduction as a percentage of GDP.

Facts matter.

Number three — President Obama reduced the federal deficit more than anybody but Clinton

For all their talk of “balanced budgets,” Republicans are really, really bad at balancing budgets. That’s probably because they’re more concerned with tax breaks for the rich and big business than they are with actually staying grounded in reality.

It’s well-known that President Clinton is the only modern president to ever balance the budget, and President Obama did the best after him as a percentage of GDP — and that’s including the massive stimulus he used to fix our broken economy. The last Republican president, President George W. Bush, increased the nation’s debt over 100 percent and left us with the financial crisis.

Number four — President Obama’s economy created 15.8 million jobs

In Trump’s world of alternative facts, half the country is unemployed and begging for a savior. That doesn’t match up with reality, though. The latest jobs report from the Department of Labor shows the truth — a 4.6 percent unemployment rate, and nearly sixteen million jobs added over the last eight years. I’ll remind you again — the economy was losing hundreds of thousands of jobs per month when President Obama assumed office. He saved us.

Number five — President Obama saved key industries and put the nation in a position to save $10 billion a year in healthcare spending

The United States is poised to save $100 billion in healthcare spending over the next decade thanks to Obamacare, studies have shown. Meanwhile, Republicans want to repeal Obamacare for strictly political purposes (likely replacing it with a similar plan — it was a conservative plan to start with, as most progressives favor Medicare-for-all or another form of universal healthcare), which is estimated to cost hundreds of billions¬†— not to mention leaving the American people high and dry when it comes to seeking medical care.

You can also thank President Obama for the fact that the United States is still competitive in the automotive industry. His stimulus single-handedly saved American cars. In fact, hundreds of thousands of jobs were added thanks to him, and GM, Ford, and Chrysler all saw significant profit increases thanks to the Obama task force. The Bush administration gets a tiny bit of credit for short-term loans that prevented bankruptcy until Obama assumed office, but that’s giving credit holding off slightly on a disaster Bush was initially responsible for. Then President Obama stepped in and fixed it.

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