Former President Barack Obama enraged President Donald Trump on Monday by marking the 11th anniversary of his signing of the Recovery Act, the primary legislation that is responsible for the economic growth our country has been experiencing to this day.
Obama signed the law in 2009 at the height of the Great Recession, ushering in a successful economic recovery that would have been even better had Republicans not obstructed him for the rest of his presidency.
The law spurred the creation of millions of jobs and a record 75 months of consecutive job growth that continued even after Obama left office. In addition, the stock market broke records. Unemployment also dropped from over 10 percent to 4.7 percent by January 2017, and would drop to under 4 percent just a few months later.
Basically, the economic milestones Trump is taking credit for are part of a trend that started under Obama, and Obama pointed that out in his own way on Twitter.
Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history. pic.twitter.com/BmdXrxUAUf
— Barack Obama (@BarackObama) February 17, 2020
Of course, Trump seethed with jealousy and lashed out at Obama by accusing him of trying to take credit for the economy.
Did you hear the latest con job? President Obama is now trying to take credit for the Economic Boom taking place under the Trump Administration. He had the WEAKEST recovery since the Great Depression, despite Zero Fed Rate & MASSIVE quantitative easing. NOW, best jobs numbers….
— Donald J. Trump (@realDonaldTrump) February 17, 2020
….ever. Had to rebuild our military, which was totally depleted. Fed Rate UP, taxes and regulations WAY DOWN. If Dems won in 2016, the USA would be in big economic (Depression?) & military trouble right now. THE BEST IS YET TO COME. KEEP AMERICA GREAT!
— Donald J. Trump (@realDonaldTrump) February 17, 2020
In fact, the military was NOT depleted under Obama. Military budgets were still topping $700 billion and Obama had ISIS on the run and strategic strength in the Middle East. Trump, on the other hand, has surrendered strategic position in the Middle East to the Russians, ISIS is rebounding and tensions are escalating with Iran.
As for Trump’s economy, it’s heading for a full-blown recession because of his trade wars and tax cuts for the wealthy. The trade wars will cost American households over $1,200, farmers are going bankrupt, and taxes increased on everyone except the wealthy, all as Trump slashes food stamps and calls for massive cuts to Social Security and Medicare.
In short, Trump is whining because Obama shared the truth, and the truth hurts, especially snowflakes like Trump who can’t handle it.
Featured Image: Wikimedia