DID TRUMP CREATE OR INHERIT THE STRONG ECONOMY???

all right guys we're coming into another video thank you so much for showing up for this video If you haven't if you're part of the replay game make sure uh that you definitely like the video leave your comments as usual leave all your comments your opinions and everything like that in the discussion box we do not have to agree but I promise you if you say something to me that doesn't make sense I'm definitely gonna uh School you a little bit at least of what I know like I tell everybody all day I'm just a regular human being but guess what I have to vote on these things as if I went to uh a college to get a degree in these areas so I'm not a professional at by all means and so when I explain I am explaining based upon what I am getting when I read these top uh you know read about these topics and and the videos and things that I look at to further explain these topics um so keep that in mind but keep your comments and put them in the uh comment section I definitely appreciate that you do not have to agree with me I'm not one of those people that cannot be agreed with and if what you're saying makes sense then you know hey it is what it is but if it doesn't make sense trust me I'm going to say something about it now as you read from the title it said did Trump create or inherit a strong economy and the reason that I brought this to everyone's knowledge today or to everyone's attention excuse me today is because of the simple reason that I we hear Trump a lot of times say what he's done so what he's done and that he's done so much for America and he's done done so much for different groups of people and things of that nature so this is more so concerning the economy instead of groups of people which is good because for once we're not talking about race however um we're going to read through um an article that was actually well it's not really an article but u a profile that was or SE that was actually done by a congressman um because like I said Trump keeps talking about how much he's done so much for the economy and how he created this strong economy and he's acting as if everybody that was before him and even after him or doing such a poor job how and and that you know but when he was in office he just just owed so much great things now I'm not going to deny that he may have done some things for the economy or he may have improved on some things but what I will deny is the fact that I do not think he did it all by himself and honestly I think he got a little bit of help along the way just in my opinion but U we're going to get into this here we're actually G to get into uh this right now okay The Joint economic committee it's Congressman Don Bayer who the vice chair and that's the person that put this together and it it's the same title did Trump create or inherit the strong economy everybody wants to know that well at least the people that really want to know if he actually put something in into place want to know that the people that are okay with with doing the research want to know that and I know a lot of people have heard him say how much he did for the economy and how you know he done all these great things and so you know I felt like that was a great topic so let's talk about it it says the US economy is in its 11th year of expansion now know that Donald Trump has not been in office for 11 years and so therefore that means that someone else had to help right says with exceptionally low unemployment and robust job creation um there are signs that the economy may be weakening due to the trade war and other factors but so far it has proven resilient meaning even though Joe Biden has been in office for the last three and a half years clearly it's not as bad as some people would try to make it seem now president Donald Trump claims credit for the strong economy saying that he inherited a disaster from the President Barack Obama and he accomplished an economic turnaround of historic proportions now again it says that the US economy is in its 11th of expansion with exceptionally low unemployment and robust job creation so again that's already not making sense because he hasn't served for 11 years and there's just no way inherited a disaster if the economy already wasn't making a comeback of sorts all right so it says however the truth is that by the became president the economy largely had recovered from the Great Recession and was nearly full strength which means Barack Obama must have done something now hold on you know what does I have a date on here I don't see a date on here but we'll find something um because I do know that this article was put out before President Biden got into office um or at least at the beginning of his office if not but we we'll we'll double check that so I'm pretty sure we'll get there um okay however the truth is that by the time he became president the economy largely had recovered from the great re session and was nearing full strength now the question is whether Trump's erratic policies will undermine the strong economy he inherited so that already answers the question right there he didn't create it he inherited it which we already knew that anyway because 11th years of expansion years of um year yeah 11 the 11th year of expansion with exceptionally low unemployment and robust job Creations um so we already know he didn't create that right so let's get into the facts of it and how we know that he did create that it says Obama handed an economic catastrophe and prevented an even greater meltdown now I don't know if you guys were around or paying attention in 2008 but a lot of people lost their jobs a lot of people lost their homes oh my gosh a lot of people lost their homes a lot of lost a lot of stuff we really did go into a recession I remember I was in college at the time and even my a friend of mine who lived across the street from me lost his home because even though he was renting his landlord lost the home and when the landlord lost the home he lost his place to live as well and he had an entire family now mind you I'm not talking about someone of college age I'm talking about a male that I knew that had worked uh I believe it for the the local um cable company at the time he had worked with the Lo local cable company um and literally was almost near retirement uh oh I hope you guys can now um but he was literally near [Music] retirement grandchildren had to move and they didn't know how they were going to do it and uh on top of that uh he lost his job with that cable company because that cable company lost so much in uh so much money that they literally had to lay off a lot of people and he was one of the ones who got laid off even though he had been working with that company for years um so yeah that goes to speak on now 2009 of course is when Barack Obama came into Power um this was right after the Bush Administration if y'all remember um yeah people didn't really like him too much um in fact they even threw a boot at him um but yeah this is when right after bush had came into power or his Bush the Bush Administration had ended I'll put put it that way and so Obama came in so uh what he came into was really not a good deal um it was literally the worst financial crisis in global history including the Great Depression okay in the last quarter of 2008 GDP plummeted 8.4% and the economy hemorrhaged more than 1.9 million jobs and as I told you before I knew one person actually knew more than one person who actually um was affected by that he lost his job and he lost his home and it was very unfortunate and every time I get on here somebody wants to call me it just hi it says Barack Obama and the Congressional Democrats took strong action to rescue the economy including implementing the stimulus so there's another fallacy within itself remember everybody wants to give Trump the uh credit for implementing stimuluses did they forget about the ones that president gave us I know because I was one of the ones that got one sure did I was in college at the time I also was working one or probably two jobs at that particular time and uh that was just to make ends because I didn't get refund checks and even if you when you do get refund checks they're usually they're not always like these huge amounts I remember one time I got a refund check it was like 600 bucks that was literally like my rent for like one month it wasn't nothing crazy so I had to go out and and I had to work because my family at the time was not in a financial position to be able to to do that or help me with that so I had to do it on my own um but yes I actually got one of those checks I think it was only like 300 bucks is what I got but I mean it is what it is that's that's all I was you know that's all I could get but Obama was actually the first person that implemented the stimulus and it was called the troubled asset belief program or tarp now it's a financial reform and also he implemented I'm sorry the financial reform SP out in addition the Federal Reserve lowered interest rates and took Extraordinary Measures to boost growth grow researched by economists Alan Blinder and Mark zandi without this multifaceted response the recession would have lasted twice as long not once but twice as long job losses would have been twice as high and the drop in GPD would have been more than three times worse that's a lot this man put things into play and even though everybody might not have liked it and even though a lot of people fought against it he still brought us out of a re session that literally could have last twice as twice as many or twice as many people would have lost their jobs and the drop in the GPD would have been again three times worse so it says Trump inherited a strong economy that got stronger so that means that he did Implement some things that would help us for that time it was not a disaster he claimed it it it it was actually strong so unemployment under the Obama unemployment fell from a recession peak of 10% to only per. so that's 6.3% unemployment fell remember I told you a lot of people lost their jobs in fact we said 1.9 million jobs well guess what 6.3% of those people well not 6.3 of the people but the recession Peak by the reception Peak the unemployment fa the rate of unemployment fail to only 4.7% so that means a lot of people got jobs back it continued to drop and is and is now okay so this is dur Trump Administration so Trump came into office and he dropped it down to 3.5% now how much of that is how much of a difference is that that's 1.2% okay Obama dropped it down by 6.3% and he dropped it down another 1.2% looks like Obama's winning on that one so it doesn't look like he inherited a disaster as much as he tries to claim now by the end of the Obama Administration the economy had experienced 76 consecutive months of job growth okay so for 70 76 straight months people were becoming employed again since Trump became president the streak has been extended to consecutive months now that did it for 111 consecutive months it means he did it for 111 minus the 76 and just so I don't get the math wrong because that's always possible that's 35 consecutive months so here we are we have Obama who has brought implemented some things and for 76 months he did a great job and people got jobs back Trump came into office he added five more months on 35 looks like Obama wins again on job growth the average monthly job growth during the last 35 months of the Obama Administration nonfarm job growth averaged 20 227,000 per month during the first 35 months the first 3 months so not the entire office but the first 35 months of the Trump Administration the average was 36,000 jobs per month less avering 91,000 jobs per month I don't know about you but 227k is definitely higher than 191k so once again he didn't create that he inherited that looks like it was already on its way up because Obama had got 227,000 um jobs a month the growth whereas he got 191 did he make it better did he continue on in that fashion yes he did but did he create it no he did not Obama wins again GPD growth the average real GPD growth was roughly the same. 6% for the first under um president Trump and looks like that ended around September 2019 and then for the last 11 quarters of the Obama Administration so okay 22 quarters between the two presidents right the GPD growth was around 2. 6% so they're kind of tied up in that area right they're kind of tied there right nothing wrong income during thetion the annual Med median household income increased $4,800 three times more than the $1,400 increased during the first two years of the Trump Administration so the last two two Obama administration he increased the household income on average about $4,800 for uh Trump's first two years right he increased it again but for $1,400 so the money went was started going up around the end of um the last two years of the Obama Administration things were return things had start turning around we were going back in a positive direction right there was a large increase Trump came in and he increased it a little bit more it wasn't the same but it was a little bit more and it was for his first two years of his of his administration now we do know that Obama served eight years and Trump served four so that would mean not ter but in his second term he was able to really turn things around and incre help with that household income Trump served four years which is half the time so he inherited an economy that was boost was you know boosting right and then he he boosted it up a little bit more but then everything fell back off again so once again once again he didn't he inherited that he not going to take anything away from him on the improving but it was very shortlived the stock market president Trump frequently points to the shock to the stock market as evidence of his success even though it is a poor proxy for the nation's overall economic well-being since nearly half of Americans do not own stock do you own stock I do but do you own stock are you part of the half that don't own stock it's fine if you are it's fine if you're not but the whole point is everyone doesn't own either directly or indirectly however even by his dis measure he lags behind President Obama so Sway and three years in office the Dow Jones he lags behind I'm sorry the Dow Jones Industrial Average almost 50% so during his first three the Dow Jones went up by 50% awesome while over the eight years of Obama the Obama Administration the uh Dow Jones increased 140% so some people will say oh well he increased it by in uh the uh smaller amount of time 3 years that is true however Obama received the presidency or his administration went to work while we were in a recession he turned it around and still increased it almost 140% okay so to be honest with you it's a substantially at a greater Pace he did it quicker he did a whole lot quicker quicker so it says mainstream economists say that the economy was strong before Trump took office one where our question is being answered a strong economy he inherit he inherit Greg uh chairman George W bush states that the economy was in fine at the end of the Obama Administration desp what Trump sometimes asserts and he does he asserts that he created something and that when he got the economy it was in total ruins and he turned it around like Superman and came and saved the day but that's just not true and the C the sad part about it is because a lot of people don't do research they believe this he's fast talking you into believing that he did something that he really didn't he's taking credit for someone else's work I'm know somebody who does that right anyways a substantial part of a occurred while uh before his signature okay Trump's uh president Trump's most significant e his 1.9 trillion tax cut uh trillion did not take effect until January 2018 yeah so remember that it didn't take effect now he may have used it as part of his as as far as you know some of his ideas he were throwing out there while he was campaigning but guess what he got in 2016 it did not actually take effect until two years later a year that's a year after he took office okay so we voted in 2016 okay so he got it by that time unemployment had dropped from 4.7% to 4.1% household incomes had increased by $850 um and 2 . 3 million new jobs had been created so he Meed um the .9 trillion tax cuts it took effect a whole year later take effect unemployment had dropped again because again the economy was getting back to business whole incomes had increased once again he added a little and then 2.3 million new jobs were also created as well the tax cuts may have caused a slight sugar high but at a very high price and this is where we're going to get into why the second half of his term was this okay the 2017 tax cuts likely added some fuel to the economy because they increased corporate profits benefiting the shareholders so if you were one of the uh stockholders and you had some shares in in a company you probably and it gave individuals more money to spend there you go however many economists say that the sugar high from the tax cuts is wearing off in fact business Investments have declined for two consecutive quarters and a recent analysis by the New York Times found no relation between the size of the tax cut companies and industries received and their Investments so if you were not a company head or not a person who had shares of these companies then the tax did not benefit you now if you owned stock or you were a compane yourself then you benefited a little bit but if you didn't which is most of I'm sorry half of America who does not have any stock who do not own corporates uh corporate companies or Industries they didn't receed those cuts so for all the people who think oh he did all this stuff cuz he cut my taxes when you didn't if you didn't own stocks or own those companies you didn't receive any of that in the long term the 1.9 trillion in new federal debt will likely weigh down the economy in the Biden Harris Administration how it did just that now let's continue further and uh once we get through it then we'll we'll talk about it Trump War hurts consumers businesses and okay how so American businesses and not foreigners so you if you have an American Business and if American Consumer meaning you go out and you buy Goods you pay the tariffs a tariffs is a tax you pay that not foreign people although the tariffs hurt by reducing demand for more Chinese Goods they also hurt American businesses that pay the tariffs American consumers who buy the higher pric products sounds like inflation doesn't it do we experiencing right now inflation experiencing since 2020 High inflation anyways American farmers who are hit with the reciprocal down by the interaction of these forces it's because we the people of this country have been having to pay the tariffs also the businesses so basically what happens is they the business they get a bill and instead of them saying Oh I'm G to dip into my profits and just pay that off it's not what they do what they do is they hike up the price of the goods so we in Turn end up paying it but then they probably put what they call a little bit of pig fat on it and just put it up just a little bit more so that whatever they do have to pay in other areas or just in general or I don't know maybe they just want more profit who knows so we end up paying it as consumers because when we go buy stuff eggs turns from $2 to $5 when we go buy groceries a pack of $7 to $14 doesn't sound like we benefited from much there there are clearly there clearly are American in the trade warm damage is yet to be seen exactly because at this particular time Trump was in office Biden came into office after that and then it looks like Biden's doing this horrible bad job what was handed to him was already getting worse one already cost 300,000 American jobs as of September 2019 and the number would rise to 450 American jobs by the end of 2019 yeah they moved their businesses from here and they moved it over to another country and 450,000 American jobs were lost 2019 Trump in office furthermore the Congressional budget office estimates that the trade wall will reduce the GDP by 0.3% in 2020 so looks like from the sounds of it this this um article right or not really article but this PDF itself looks like it was written around 2020 now it 2020 was probably not over yet and so therefore it started using future tents like will reduce um in 2020 but it doesn't say by 20 20 it says in 2020 so I'm that this was written in 2020 while Trump argues that his phase one trade deal announced earlier this month was historic it fell short on many accounts it didn't it did not eradicate all import tariffs it did not address fundamental issues like China's corporate unfair practices and it relied on CH up purchases of American Goods that very well may not come into fruition I'll read that again it did not address fundamental issues like China's corporate subsidies and other unfair practices and it relied oh it did not eradicate all import tariffs as it was promised to do and it also relied on some promises that did not come into fruition because we're past 2020 now it didn't because again look at inflation look at the cost of living and then look how much is in your check yeah Trump inherited a strong economy will he weaken it again this is during 2020 or around that time so the effects of his administration and his policies that he put in place of course had happened yet because who's this the effects of had not happened yet but here in 2024 we've seen some of the byproducts of it now am I gonna say am I sitting here that Joe Biden did everything uh right no I'm not did I am that he inherited something worse than what uh Trump initially inherited yes he did because some of the stuff that he put into place and some of the promises that he made not pan over the way that he expected them to and then some of it was just flat out lies there are a lot of things that he said he GNA he was going to do that never happened it is clear that Trump inherited a strong economy that was still trending upward when he entered office those Trends so far in this as they say have continued again his first two years of presidency up they continue to climb it peaked out and it started comeing back down now the economy has received a small Boost from the 2017 tax cuts again remember they said it like a a sugar high but what happens when you have a sugar high you eventually crash it's like drinking that Red Bull it gives your wings for a little while but then eventually you're so sleepy you don't know what to do with yourself you C crash and that's what started but many economists believe that sugar high will be shortlived see see what I'm saying meanwhile the trade the Trump trade War has hurt American consumers and businesses and it may slow future economic growth and here we are in the bid Harris Administration with that slowed future economic growth now are we still doing good or decent I would say it could be worse it could definitely be worse but it peaked out the same way these people thought it were it would in short Trump inherited a strong economy from Barack Obama the question is whether he will weaken it again before we now know that yes he did some of the things that he implemented definitely did win the economy because the inflation is through the roof the cost of living is through the roof look how everything was when we were in uh during during Co it's through the I hear my baby crying and so I'm going to take a pause okay I'm back little man dropped his pacifier so had to get that out of the way now now let's get back into it we got a chart here nonfarm growth okay let's see how they're doing this it's from January 2008 to December 2019 all right here what do we have looks like in 2008 um jobs per month on average was low how low was it let's see if I can get this to go down a little bit so we can see I hope you guys can still see it so here we are at 200 and from 2008 to around 09 jobs were being lost that's that re I was talking about when people were losing all their jobs and losing all their homes and it was really bad that's when OB uh right right like his first year but then his first year or the year before I believe he was elected in 08 and so started 09 so this is the end of the Bush Administration and he yeah so this is the end of the Bush Administration and he told us to up on horse and ride it and then Obama comes in office9 he's elected in in '08 and he got it bottom again everybody lost their jobs then it started to trickle up he started to implement things that started turn it around so then it started turning around by 2010 looks like he did a lot because it went up by a lot hold on just a second I'm so sorry again always want to call and text while I am doing a video so it went up he implemented some things looks like here around 2010 we were still still below um but it looks like it went from a uh up to about 200 or 300,000 right up here at the beginning of 2010 this is during the Obama Administration it continued to go upward around 20 uh looks like it went up to about 400,000 and it looks like it came back down a little bit around I would say 300,000 around 2011 and then it came all the way back down to a little bit I'd say probably about 50 to 75,000 up in here during the 2011 so 2011 was a little rocky but it went right back up um again it's a little rocky it's moving a little sideways there and then 2012 came in and it did a little boost again then it came back down again um 2013 it's yeah pretty much kind of like the median I would say here well not necessarily the median but the average I'd say about 200,000 jobs is where we were at 2014 came and we came back up so I said we were probably around about 300,000 jobs there and then 2014 came oh no this this is 14 so this is so now this is campaign year here right is this campaign year no 2012 would have been campaign year for second year okay so this is during his second term from 12 12 over here to 16 so this is where where we were and it it you know it goes up and down but it was pretty steady um throughout that time but we're in the we're in the positives so inherited it where 800,000 people um lost out so then here is around the 2016 Mark right here which is where Trump was elected in so when Trump got it we were still on a little a growing economy so he didn't create create a growing economy we were still riding on the wave that Obama had set into place he kept it going he implemented some things that at the time looked great and so he had a couple little highs himself so from 16 to 18 he's still pretty much rid the wave Obama gave him and then 18 gets here or this is 16 so 17 gets here and we're back with the Republican Administration he's riding the Wave It's riding away it dips a little bit but he thumbs back up it's here 2019 is here so this article was written like I say in 2020 because as far as they went it's 20199 okay and 2019 we started of course we all know we started the fall off some because um within that next year we would be experienceing 2019 so again it's on a chart that shows he did not create it he did not create a strong economy he inherited one what is this unemployment rate okay we got a recession here from 08 to the middle of 09 we're in Rec and 09 now it looks like we were actually gaining some but we we're still in that recession right right Obama did some implemented some things policies and it went up and then it looks like it started to trickle back down for different reasons okay and so then we're here here and then in7 Trump took over and it Contin to trickle down now the tax cuts was here between 2017 2018 is where the tax cuts started and to take effect went down so this trickle down that you see because this is unemployment unemployment went up got as high as 10% and then Obama imp minut some things and the unemployment rate start to come down so now we're at 4.7% here Trump gets in office it goes down to point 4.1% he in initiates those tax cuts for the corporate businesses and it comes down to 3.5% okay so once again he did not create create it he in inherited it it was already trickling down did he add some some more to it of course it happened now what we have to understand and is we don't know if it was off a policy that was placed into place by Obama and he just CAU the if you know the after effects of it or if it's something that he also put into place which also helped it along just because the president change doesn't mean a policy expires just because uh you know all of the people that work with the that particular Administration change out because as we already read in Project 2020 some of the cabinet members um actually change out once the president changes instead of afterwards okay so here's the median household income here so 2008 coming off of bush the median household was say about 59,000 or right at 59,000 but then Obama gotten 6,000 but then 2012 came came along and we're going we're getting to the end end of that recession that would have taken twice as long and so it boost back up to about 58,000 but then it took a dip again around 2014 and we're sitting at about 57,000 but then some implementation of Obama has happened and now we're Rising again so by 2017 the Obama Administration PE got around 62,000 and then Trump gets into office those Pol are still in place and so it peaked out at 63,000 a little bit over Trump is taking it he's taking some um changes doesn't mean a policy changes so whatever Obama did put in place this credit that Trump is trying to take for take uh credit for it's actually Obama's credit not Trump's just like this right here this dip right here that people are trying to give Obama Flack for was coming off e e e e seriously okay so that was clearly my C to leave because now the internet act crazy and it's sitting right next to the router like it's the highest speed that Spectrum offer and I'm sitting right next to the Rober anyways don't know what's going on any thank you for tuning in to another video I hope you guys learned something um leave your comments in the comment section I don't care if you agree or disagree we always have a discussion about it it's fine that's what it's for I understand everyone's not going to think the same and that's fine like that's okay it's not a big deal but for those who may or may not have known how the economy was do between Barack Obama um Trump and now Biden we kind of see the effects of everything that was put in place because what the president before puts in place has a strong um influence on what takes place within at least the first year to two years of the new president so the things that Biden have put in place whoever gets into this office next time at least for that first year we're going to see the effects of some of the policies and things that Biden has put in place because you policies day one every policy you may be able to get to a couple but you're not GNA be able to change the first ones not even in the first 30 60 or 90 days are you going to get to everything so there's some things that we're goingon to have to live with until another is put in place so hopefully Biden has done um a lot of good things so that we can see the the remnants of that with the next Presidential who comes in office if you have not yet please go over to YouTube subscribe to the channel we're trying to get to 100 subscribers we're actually almost there we are almost there we'll just need 25 more people to get to our first 100 thank you so much for guys who have already subscribed make sure you hit the like button make sure you also um yeah leave a comment same thing for Facebook like it up share it out leave a comment the next video