Published: Tue, February 18, 2020
Economy | By

Trump campaign, Obama spar over credit for United States economy's growth

Trump campaign, Obama spar over credit for United States economy's growth

The roaring USA economy has President Trump defending his record against former President Obama who earlier today took a jab at the current administration by taking credit for "more than a decade of economic growth".

When the American Recovery and Reinvestment Act was signed in February 2009, the economy had been in recession for about 14 months.

"Did you hear the latest con job?"

Former President Barack Obama on Monday seemed to be taking credit for the booming economy Monday when he tweeted out a photo of his signature on the 2009 economic stimulus bill. "He had the WEAKEST recovery since the Great Depression, despite Zero Fed Rate & MASSIVE quantitative easing", he tweeted. When he left in January 2017, the economy was growing at an annual rate of 2 percent. "It [Recovery Act] was a massive failure, hopefully, we learned the lesson, never again are we going to try to stimulate the economy with government spending", he said.

Some also bashed Trump for the way he referred to his wife.

One sign, depicting Trump giving oral sex to Russian President Vladimir Putin, prompted police to come to his house in October 2019 and take the sign down under threat of a felony charge for posting obscene material. He argued they would pay for themselves by powering economic growth.

A Congressional Research Service analysis of Trump's tax cuts published last year noted there was a "relatively small (if any) first-year effect on the economy" and its impact on investment "may raise questions about how much longer-run growth will result from the tax revision".

The US president also reportedly labelled Pelosi a "person that started an impeachment and lost", adding that she "goes down as a loser, which she is".

"The Trump campaign is firing back tonight after former president, Barack Obama claimed credit for the economic gains in both their terms, ' Baier said".

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