Economists Reveal Which President They Credit For U.S. Economic Growth, Stock Market

Battle of the Presidents. Who is responsible for the booming economy? Economists decide. Image Source: Getty Images
Battle of the Presidents. Who is responsible for the booming economy? Economists decide. Image Source: Getty Images

An ongoing Battle of the Presidents on the economy has actual economists weighing in on the subject. Former President Obama regularly blamed his predecessor, George W. Bush, for economic woes. Often claiming he had “inherited” a mess. Using that same logic, President Obama and his supporters have claimed responsibility for the success of the economy under his successor, President Trump, as well.

President Donald Trump has repeatedly touted the flourishing economic climate in the United States as being one of the major successes of HIS administration. A new report shows that economists agree with Trump’s assessment.

The Wall Street Journal asked 68 economists,  spread across academia and throughout the business world, who was responsible for the booming economy.

“Happily for President Trump, the pros agree with him,” The Hill reported. “A recent survey of economists suggest it is President Trump, and not Obama, who should be taking a bow.”

Key takeaways from the report:

  • Most of the economists said Trump was “‘somewhat’ or ‘strongly’ positive for job creation, gross domestic product growth and the rising stock market.”
  • The experts said Trump’s decision to cut regulations and cut taxes were a major factor.
  • The group gave Obama “neutral-to-negative for GDP growth and negative for long-term growth,” while scoring Trump as “neutral to positive for long-term gains.”
  • The group of economists said Trump scores higher than Obama because business confidence is higher and business investments are increasing under Trump.

The report comes as House Minority Leader Nancy Pelosi (D-CA) said the recent GOP tax reform bill was “insignificant,” and only gave “pathetic” “crumbs” to workers — which stands in stark contrast to how she described Obama’s $40 payroll tax cut.

As previously reported by The Daily Wire, major economic victories for the Trump administration include:

  • Dow Hits 25,000 For The First Time Ever
  • Job Creation In December Smashed Expectations
  • Job-Cut Announcements In 2017 See Lowest Level Since 1990
  • Manufacturing In The U.S. Had Its Best Year In 2017 Since 2004
  • Approximately 100 Companies Have Announced Or Are Planning To Announce Bonuses, Wage Hikes, And Charitable Donations Due To GOP Tax Reform

On January 16, 2018, the DOW Jones set another record by surpassing 26,000. A 1,000 point jump in just seven days.

 

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Author, Advocate, Blogger & Zombie Aficionado. Air Force veteran and jack of all trades, with a wide range of experience with many different cultures around the world as well as working alongside both CEOs and average Joes. “Writing was never a goal or even vaguely contemplated as a career choice, it just happened, an accidental discovery of a talent and a passion.” A passion that has taken him in many directions from history to zombies to advocacy to News especially in this day and age of “Fake News” and “Alternative Facts.” The Truth Is Out There!

About the Author

Jon Britton
Author, Advocate, Blogger & Zombie Aficionado. Air Force veteran and jack of all trades, with a wide range of experience with many different cultures around the world as well as working alongside both CEOs and average Joes. "Writing was never a goal or even vaguely contemplated as a career choice, it just happened, an accidental discovery of a talent and a passion." A passion that has taken him in many directions from history to zombies to advocacy to News especially in this day and age of "Fake News" and "Alternative Facts." The Truth Is Out There!

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