Kirsters Baish| This past weekend anti-Trump California Democratic Congresswoman Maxine Waters claimed that former President Barack Obama was to credit for our country’s booming economy, not the current President, Donald Trump. This past Friday, the President successfully brought out country’s gross domestic product to 4.1 percent in the second quarter. This is the first time this has happened since 2014. Trump also explained that America is getting ready to reach its highest yearly GDP in the last 13 years.
President Trump also explained that unemployment claims are the lowest they’ve been since 1969… but unemployment rates among African Americans, Asians, and Hispanics are at all time lows.
For the very first time in our country’s history, there are more jobs open than there are unemployed Americans.
Maxine Waters made an appearance on MSNBC this past Sunday. During her time on air, she spoke about the numbers.
“Of course, the economy has improved, and of course he would like to take credit for all of that,” the Democrat said.
Take a look for yourself:
She claimed, “But in the final analysis, when this country understands and feels what has been done with the tax scam and what that’s going to do for our deficit in this country, it’s going to be reversed.”
She then took it to dangerous territory, saying that in the end, President Trump’s economic policies would “undermine” all of the good work that the Obama White House accomplished…
“A combination of the tax scam and the tariffs will undermine all that has been done in the economy that was started by Obama,” she said, as reported by The Daily Caller.
Conservative Tribune reports:
The day after Trump’s election in 2016, the Dow Jones Industrial Average spiked over 250 points, closing at a record high of 18,589, CNN Money reported.
Over the next year, it blew through the 19,000, 20,000…23,000, and now sits over at over 25,000.
The 31 percent rise during Trump’s first year represents the best tally since the 1930s, when the market was recovering from the 1929 crash, according to CNBC.
Larry Kudlow, a top economic adviser to the President, gives credit for our country’s strong economy to policies Trump has enforced since taking office, not Obama.
“We’ve lowered tax rates, we’ve rolled back regulations, we’ve unleashed energy, we’re moving to fix the broken world trading system. You can see big numbers on capital spending, business investment,” he explained while appearing on Fox News this past Friday.
Trump signed a new tax package into law this past December. It moved the United States corporate tax rate from 35 percent to 21 percent. Keep in mind that 35 percent is the highest rate in the entire industrialized world. 21 percent, however, is lower than average.
The new tax law allows corporations to write off the entirety of their new building and equipment investments.
Conservative Tribune also writes:
Additionally, during its first year, the Trump administration cut the number of regulations in the Federal Register by 35 percent (or over 30,000 pages) to its lowest since 1993, according to the Competitive Enterprise Institute. The page count hit an all-time high during Obama’s final year at 95,894. As of the end of December 2017, it stood at 61,950 pages.
Further, Reuters reported that oil production on federal lands rose 7 percent in 2017 to its highest level in at least a decade, while production on private lands rose 5 percent to 9.3 million barrels per day, a figure not seen since the 1970s.
Finally, Trump has made renegotiating the United States’ trade relationships with other countries a top priority.
The President has been using tariffs in order to get other countries to negotiate. This method has seemed to work with the European Union thus far. It was just last week that European Commission President Jean-Claude Juncker agreed to work toward “zero tariffs” with America.
Trump was proud to say that our country’s trade deficit reduced by a whopping $52 billion in the second quarter.
Whether or not Maxine Waters likes it, the Trump administration is to thank for our country’s current booming economy. Obama had nothing to do with it.