Former President Barack Obama on Monday said he was, in fact, responsible for the flourishing economy under President Donald Trump.
“Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history,” Obama wrote on Twitter, posting an image of his $787 billion prompt spending package.
Obama’s message on Twitter was not only a sentimental reminisce on his presidency, because he specified that his spending plan was accountable for “more than a decade” of development, even with his only being president for eight yrs.
Although Obama’s nearly trillion-dollar stimulus may have helped the economy overcome a serious economic depression, economic growth had slumped to 1.6 percent by the time he left office. President Donald Trump’s tax reductions and regulatory cuts proved to be rocket fuel for the American economy now savoring record-high stock markets profits, income increases, historic unemployment rates, and an expansion that is right now the longest on record.
Obama famously mentioned after he left the White House that he would refrain from criticizing Trump, yet he retracted that promise after hitting the campaign trail in 2018 to boost Democrats.
“When you hear all this talk about economic miracles right now. Remember who started it,” Obama stated in a speech in Nevada in 2018. “Remember who started it! Come on!”