Despite the China coronavirus nightmare and worldwide crisis, President Trump’s economy is still much better than what he inherited and way better than Obama’s economy at his respective time in office.
The numbers are astounding.
With all the despair, shock and Mainstream media (MSM) frenzy surrounding the China coronavirus crisis, the average American would think that the US is in a depression and we’re all going to die!
The news has been abhorrent as businesses shutter their doors while America and the world attempt to survive the China coronavirus pandemic. But the actual results may surprise you indicating the MSM may be as far off on their predictions for the economy as they are in their predictions of fatalities due to the virus. Here are some comparisons for where the economy is today with when President Trump inherited it and with Obama’s first three plus years in office.
When President Trump stepped into office, the national unemployment level was at 4.7%. In January of 2017, the month President Trump was inaugurated, the national unemployment rate was at 4.8%. On Friday, the unemployment rate for the month of March was reported at 4.4%. This is still much better than the unemployment rate President Trump inherited.
Obama on the other hand was horrible managing unemployment during his first three plus years in office. Obama saw the national unemployment rate rise to 10% for the first time in ages. He inherited a rate of 7.3% the December before he was inaugurated and he never saw that rate his entire first term in office.
Over their same times in office, President Trump has an average unemployment rate of 4% while Obama oversaw an unemployment rate of 9.2%. We are no where close to that today.
Job Gains and Losses
Along with unemployment job gains and losses are in the same boat. When President Trump took over, the Obama economy was stagnant and going backwards. He immediately implemented policies that created jobs. He lowered the corporate taxes that allowed American companies to better compete with foreign companies and encouraged them to build at home. As a result, even with the poor performance in March due to the coronavirus, the US has gained more than 6.3 million more jobs since the President took office.
The same could not be said for Obama. He lost over a million jobs in his respective first three plus years in office.
Obama was so bad at creating jobs that by the end of his second term he said that jobs were not coming back. This showed in his first two years with millions of lost jobs.
Overall President Trump has gained more than 7.4 million more jobs than Obama in their respective first three plus years in office!
Number of Americans Working
Again, President Trump is smashing the economic record book, even with the horrible numbers from March. More Americans are working than ever in history under President Trump.
The same could not be said for Obama. Under Obama the US lost more than a million jobs in his first three plus years in office.
Obama lost so many jobs that in February of 2010, only 129,698 Americans were working. Today more than 22 million Americans are working than in February of 2010.
The Stock Market
The last month and a half has been horrific for the stock market. It may be the worst market in US history. As fears of safety engulfed the US and the world because of the China coronavirus, the markets collapsed.
But what many people don’t know (because the MSM hasn’t told them these past three years) is that the market under President Trump these past three years was the greatest market rally in US history. Numerous records have been set, from largest single day point gain, largest annual point gains (in 2017 and then broken in 2019) and many more.
This is why the markets are still up since President Trump won the election by 15%. In spite of the arguably most shocking setback to the US economy and markets in history, the US markets are still up since President Trump won the election.
President Trump has done a marvelous job to date protecting Americans. Thankfully the US economy was the strongest it has ever been after three years of his Presidency.
When Americans get back to work, and the sooner the better, it will be the greatest economic miracle and rise in world history.