Guest post by Joe Hoft
President Trump has now been in office for seven complete months and it appears that the results of his actions as President are very good. We decided to compare his results with those of former President Obama to gain a perspective on how he is really doing.
US Stock Markets
* President Trump is already the only President in US history to oversee two stock market rallies of nine days or more where the markets set new highs each and every day.
* 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!
* Then in early August President Trump reigned over a 9 day stock market rally with each day reaching record highs.
* The DOW daily closing stock market average has risen as much as much as 21% since the election on November 8th. (On November 9th the DOW closed at 18,332 – on September 1st the DOW closed at 21,987 – just off the all time high set on August 7th of 22,118).
* Since the Inauguration on January 20th the DOW is up 11% . (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.
* The DOW increased by 4,000 points in the 200 trading days between November 4th and August 22nd. This was the only time in US history where the DOW rose more than 4,000 points over a 200 working day period.
* The S&P 500 and the NASDAQ have both set new all-time highs during this period.
* The US Stock Market gained $4 trillion in wealth since Trump was elected!
* The S&P 500 also broke $20 Trillion for the first time in its history.
So how does this compare with President Obama’s first few months? The stock markets under President Obama moved in nearly the exact opposite direction in the nine months after President Obama’s election win in November 2008.
* The DOW daily closing stock market average tanked (went down) (-31% ) between Obama’s election win on November 4th, 2008 and March 5th, 2009. (On November 4th the DOW closed at 9,625 – on March 5th the DOW closed at 6,594. Overall it decreased more than 3,000 points during this time).
By September 1st 2009 the DOW was back to above 9,000 at 9,310 but still below the November 4th stock market average. During this time period the stock market never reached a new stock market high. As a matter of fact, the Obama markets didn’t reach a new all time high during Obama’s entire first term (4 years).
As of today, President Trump decreased the US Debt since his inauguration by (-$103) Billion.
President Trump now can claim the longest and largest decrease of US Federal Debt in history.
When President Trump was inaugurated on January 20, 2017 the amount of US Federal Debt owed both externally and internally was over $19 Trillion at $19,947,304,555,212. As of August 31st the amount of US Debt had decreased by more than $100 Billion to $19,844,533,441,924.
A review of the amount of (unaudited) of US Debt outstanding back through the Civil War shows that the last time the US Federal Government had a debt decrease between years was when Republican Eisenhower was President in 1957 and 1958. He cut the amount of US Debt by $2 Billion each year from $274 Billion in 1956 to $273 Billion in 1957 and again to $271 Billion in 1958.
No President besides President Donald Trump has cut the amount of US Debt by $100 Billion ever.
President Obama on the other hand increased the US debt in his first seven months by more than a $1 Trillion.
Obama increased the US debt in his first 7 months by $1,166 billion or more than President Trump by $1.3 trillion dollars!
According to the Bureau of Labor Statistics President Trump added 1,405,000 jobs in his first eight months (January through August 2017.) President Obama on the other hand lost (4,367,000) jobs in his first eight 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 since his inauguration (January through August 2017). The unemployment rate in January 2017 was 4.8% and by August it was down to 4.4% . It has never been higher than the starting rate of 4.8% .
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President Obama on the other hand again moved in the opposite and negative direction. In his first eight months as President the US unemployment rate increased nearly each month from 7.8% in January 2009 to 9.6% by August 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 under President Obama in 2009 during the same time period. (The annualized housing sales rate for July 2017 is reported at 571,000 where in 2009 this amount was only 411,000.)
Under President Trump the second quarter annual GDP growth rate nearly doubled the rate from the President’s first quarter. Also, according the BEA, the US GDP surpassed $19 Trillion for the first time in US history under President Trump.
President Obama is the only President not to reach a 3% GDP Growth rate during his Presidency.
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 and has been in double digits ever since.
In Obama’s first five months in office (January through August of 2009) the best manufacturing index activity rating was 8 in August 2009 with most months being negative double digits.
Fed Funds Rate Increases
The Federal Reserve has increased interest rates three times since President Trump was elected into office in November. The Fed increased interest rates only once in Obama’s 8 Years prior to the increase in December.
No Fed Funds Rate increases took place between June 2006 and December 2015. CNBC reported in December 2015 that President Obama oversaw “seven years of the most accommodative monetary policy in U.S. history” (from the Fed). But still the Obama economy due to numerous job killing initiatives pales when compared to President Trump’s.
Illegal immigration is down 67% since President Trump’s Inauguration. Illegal border crossings are down 93% . President Obama opened up the US borders and Trump has drastically shut down illegal immigration. The result of this is lower costs for the federal government and taxpayers.
Americans are expected to enjoy their summer vacations more due to low gas prices. The USA Today reported that:
American drivers are poised to reap unexpected savings at the gas pump after oil prices kicked into reverse.
The low gas prices that benefit Americans are due in part to President Trump’s actions to allow drilling in the US, reducing the amount of foreign oil imported from Middle East nations. Under President Obama gas prices in the US reached nearly $4 a gallon.
Decrease in Regulations
One of the first things that President Trump did in office was to reduce the number or burdensome regulations put in place during the Obama era. In January President Trump signed his 2 for 1 executive order mandating that for every new regulation, two regulations needed to be revoked. Even far left Politico notes that significant federal regulations since Trump’s inauguration have slowed to an almost total halt.
Regulations cost Americans and American companies money to implement and maintain. Reducing or halting regulations allows companies to spend their money on more prudent money making areas.
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 billionaire businessman crushes the former community organizer Barack Obama in every meaningful measurement. President Trump is enjoying massive success while the severely unqualified and nearly incompetent President Obama forced America through some of its worst years in history.