Kayleigh McEnany, who used to be a Trump propagandist on CNN before becoming one on the Pravda-esque Trump TV, thinks the fact that we've added more than 1 million jobs since Trump took office shows that he has “clearly steered the economy back in the right direction.”
What she forgot to mention, though, is that this is slightly worse than things were at the end of President Barack Obama's term. That's right: The economy added an average of 181,000 jobs a month in Obama's last six months in office compared to an average of 179,000 a month in President Trump's first six months. That's a statistically insignificant difference — and a negative one at that — which shows that Trump hasn't made a diffference on the economy. And why would he have? He hasn't cut taxes or increased infrastructure spending or done anything else that would meaningfully boost GDP. (Going golfing and tweeting #MAGA a lot don't count.)
This, in a lot of ways, is the archetypal Trump story: trying to take credit for something he inherited. In his business career, that was all the money and connections he got from this father. Indeed, while Trump likes to say that he turned a “small” $1 million loan from his father into a “massive empire,” the truth is that Trump's father arranged and guaranteed all of the bank loans that made his son's first big project possible.
I remember when the conservatives were hammering President Obama because we were still suffering historic job losses during his first months in office.
Of course the facts were that his policies had not even taken effect yet, and the recovery was still some distance in the future.
The same holds true now, we literally have NO idea what impact Trump's presidency will have on the economy of this country. But if history is any guide, the country will probably have to file for bankruptcy.
Source http://ift.tt/2hICZUe
