The public must be reminded about the economy under Trump and Biden. In any comparison, there are major points of “context”. In essence, it’s nearly impossible to compare the two. COVID had such a profound effect sandwiched between the two economies along with other domestic and international issues like the War in Ukraine and price gouging by the OPEC oil cartel.
1. President Obama inherited from Republican President George Bush, the worst recession since the Great Depression! Usually, the worse the recession, the longer it takes to recover. But Obama was resilient and aggressive. Over 8 years created a solid and stable economy with near record levels of job growth and unemployment.
2. Trump inherited a solid economy with growing employment. For the first 3 years of his administration, the economy was an extension of the Obama economy but with less job growth. The last year was hit with COVID. A disaster for the economy. Low inflation and low gas prices because the economy was massively imploding!
3. President Biden inherited a horrific economy with growing job loss and inflation. The COVID effects on the economy were widespread and profound but still the US economy post COVID is the strongest in the world with inflation lower than the rest of the world.
⇒ The trump economy was just an extension of the Obama economy for three years. He had no special wand or initiative. His only contribution was a HUGE $2 trillion tax cut to the rich which did little to improve the economy or grow jobs.
⇒ COVID was the massive difference in the Biden economy. He did not cause COVID. He did NOT cause high inflation. It was clearly COVID. It affected every nation on planet earth. COVID, Corporate greed, Ukraine war and the effects of Climate Change are the major reasons for inflation.
⇒ Most of the records in unemployment rates during the Trump administration were NOT created by Trump. Obama created 80-90% of the record, Trump contributed just a small percentage yet claims he alone accomplished the records. Just another lie/wild exaggeration.