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US Economic Performance Under Trump is Unchanged From Under Obama

President Donald Trump meeting with U.K. Prime Minister Theresa May at the World Economic Forum in Davos, Switzerland. Date: January 25, 2018. (Photo: Shealah Craighead, Wite House)
President Donald Trump meeting with U.K. Prime Minister Theresa May at the World Economic Forum in Davos, Switzerland. Date: January 25, 2018. (Photo: Shealah Craighead, Wite House)

The two main measures of the U.S. economy are showing the same trends under Trump that were shown under Obama ever since 2010.

The economic performance of the U.S. under Trump is basically the same as it was under Obama, regarding the two main measures of the economy, which are median household income index (HII) and the unemployment rate.

Sentier Research has produced the following graph of these numbers since 2000 and extending till October 2019, shown here as they issued it on December 2nd:
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Clearly, the trends there did not change significantly (if at all) after Donald Trump became President in January 2017. Household income continued the same rate of rise as it had exhibited ever since reaching its low in July 2011, and the unemployment rate continued its same rate of decline as it had exhibited ever since its highest was reached in January 2010.

This is not to say that U.S. economic policies did not change when Trump came into office, but only to say that in terms of the two main measures of the economy, the same trends that were shown under Obama ever since 2010 are being displayed under Trump.

As regards the federal debt, here is the graph from the St. Louis Federal Reserve Bank:
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This, too, shows that the performance under Trump has continued the flattening of the rise which had begun under Obama in 2013.

Prior to 2013, ever since Obama came into office in January 2009, the George W. Bush crash of 2007 and 2008 had necessitated a soaring federal debt in order to halt the plunge in HII (household incomes) that had been produced by Bush and that had resulted from the Bush crash.

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2 Comments

  1. frank burke December 3, 2019

    The most widely used indicators of economic performance are GNP and GDP along with the unemployment rate. The economy is strong but Mr. Zuesse doesn’t want to acknowledge that.

    Reply

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