After First 4 Months in Office, President Trump’s Economy Thumps President Obama’s Economy Bigly
Guest post by Joe Hoft
The Trump Thump!
It’s now six months since the Presidential election which was held on November 8th, 2016 and 4 months since President Trump’s inauguration on January 20th.
The main stream media (MSM) and Democrat Party will not report it but the Trump economy is on fire and when compared to President Obama’s first four months, Trump’s economy is totally thumping Obama’s.
Charles Payne from FOX Business News reported earlier this week that the Trump economy is “rocking”.
US Stock Markets
In President Trump’s first few months since the election and since his inauguration the US Stock Markets are at record highs and millions of Americans are benefitting in their retirement savings accounts.
* Since the Inauguration on January 20th the DOW is up 5% . (It was at 19,827 at January 20th.)
* The DOW took just 66 days to climb from 19,000 to above 21,000, the fastest 2,000 point run ever. The DOW closed above 19,000 for the first time on November 22nd and closed above 21,000 on March 1st.
* The DOW closed above 20,000 on January 25th and the March 1st rally matched the fastest-ever 1,000 point increase in the DOW at 24 days.
* On February 28th President Trump matched President Reagan’s 1987 record for most continuous closing high trading days when the DOW reached a new high for its 12th day in a row!
* The S&P 500 and the NASDAQ have both set new all-time highs during this period.
* The US Stock Market gained $2 trillion in wealth since Trump was elected!
* The S&P 500 also broke $20 Trillion for the first time in its history.
How does this compare with President Obama’s first 4 months? The stock markets under President Obama moved in the exact opposite direction in the 6 months after President Obama’s election win in November 2008.
* The DOW daily closing stock market average tanked (went down) (-13% ) between Obama’s election win on November 4th, 2008 and May 20th, 2009. (On November 4th the DOW closed at 9,625 – on May 20th the DOW closed at 8,422. Overall it decreased more than 1,200 points). This is the opposite direction of President Trump’s rally.
As of today, President Trump decreased the US Debt since his inauguration by (-$100) Billion.
President Obama on the other hand increased the US debt in his first four months by $659 Billion.
The difference between Presidents Trump and Obama is $760 billion of debt or nearly three quarters of a trillion dollars!
According to the Bureau of Labor Statistics President Trump added a projected 738,000 jobs in his first four months (January through April 2017.) President Obama on the other hand lost more than 3 million jobs in his first four months. (President Obama was so bad at creating jobs that by the end of his second term he said that jobs were not coming back.)
Also according to the Bureau of Labor Statistics President Trump decreased unemployment every month since his inauguration (January through April 2017.) The unemployment rate in January 2017 was 4.8% and by April it was down to 4.4% .
President Obama on the other hand again moved in the opposite direction. In his first four months as President the US unemployment rate increased each month from 7.8% in January 2009 to 9% by April of 2009.
Housing sales are red-hot in the US right now. In 2011, houses for sale were on the market an average 84 days. This year, it’s just 45 days.
According to the US Census Bureau, there were nearly twice as many US housing sales in the past couple of months as there were in 2009 during the same time period. (The annualized housing sales for March 2017 is reported at 621,000 where in 2009 this amount was only 339,000.)
Economic Outlook and GDP
The US Manufacturing Index soared to a 33 year high in February 2017 shortly after President Trump was sworn into office. The index reached 43 in February which was the best outlook since 1983 under President Reagan.
In Obama’s first four months in office (January through April of 2009) the best manufacturing index activity rating was a negative -25.
The difference here is greater than 50% with Obama again in the wrong direction.
Also, as Charles Payne notes above in the video from FOX Business News, 2nd Quarter GDP is projected to sky rocket to above 4% in President Trump’s first full quarter in office. On the other hand, President Obama never reached 3% in any year during his Presidency resulting in being one of the worst Presidents for GDP growth in US history.
Other Comparisons Between Presidents Trump and Obama
Illegal immigration is down 67% since President Trump’s Inauguration. President Obama opened up the US borders and Trump has drastically shut down illegal immigration.
President Obama left President Trump with a weak economy and all sorts of domestic and foreign policy nightmares. To date President Trump has had little time to address all of these messes but if he handles these as well as he has the economy Americans will soon be in a much better and safer place.
Overall based on the above data it is clear that President Trump is doing a solid, if not excellent job.
The mainstream liberal media won’t report this, but when looking at the economy, President Trump the businessman thumps the former community organizer Barack Obama.