On one hand, the Democrats have a history of managing the economy correctly with moderate fiscal responsibility, maintaining social services, and pushing back on corporate excesses and warmongering. The last time we had a balanced budget was Clinton’s.
On the other hand, Republicans claim they are better for the economy, although they are the ones that constantly crash it, do the most to worsen the debt and deficits, and take away living standards for the average American.
So who’s better for the economy? It’s so hard to tell.
This (especially if you extend it left and right) mostly illustrates that the president is not the economy.
Bush very famously presided over the 2008 financial crisis, but perhaps less famously went out of his way to work with Obama to help him deal with it during the transition: https://presidentialtransition.org/wp-content/uploads/sites/6/2020/11/How-Bush-and-Obama-Collaborated-to-Address-the-Great-Recession.pdf
And you can see Obama acknowledge that in documentaries of the crisis.
Obama got the benefit of the rebound, as did Trump.
And, as much as he tremendously bungled it, there was no way for Trump to stop the national debt from skyrocketing during Covid-19. That’s what’s supposed to happen in a crisis (and be paid back in better times).
What I’m getting at is that I don’t like the idea of anyone calling the economy “Trump’s economy” or “Obama’s economy.” It assigns way too much importance to the president in most cases. And the onus of balancing the budget is more on congress, even if the president is an influence here (and clearly that has all been swept aside for populist policies because voting margins are so thin :/)
Yeah, this post was painful to look at considering it shows very nicely where the world wide pandemic happened, and nothing else about Trump’s presidency.
Now, could those spikes been lower with a competent president? Maybe, but the post doesn’t even try to address it
This is some low quality xitter level misleading shit, regardless of the intentions
Agreed. The slopes don’t change across the presidential changeover.
Showing the deficit is better than debt.
When you look at deficit you can see it spiked in 2008 and then came down under Obama. Not to the level before, but it came down pretty well. Then with Trump, before Covid, the deficit was going up quite notably. That was from his tax breaks. Then it really spiked with Covid. So I think we can say a lot about Trump’s policy and deficit.
100% agree, but I’ve noticed that literally everyone does this. It’s infuriating but likely we’re all (generally speaking) too tribal and uneducated to not pin the economy on the president.