Just ahead of the November 6 Election Day, Andy Puzder posted a great piece at Fox News to explain how we can tell that President Donald Trump’s economic policy has been a wild success: it’s because Obama and the Democrats are desperate to steal credit for it.
In a November 1 op-ed, Puzder notes that former President Obama is desperate to cajole people into thinking HE had something to do with the great economy (hint, he didn’t).
“Let’s be clear: The economy is booming because President Trump reversed President Obama’s economic policies – not because Trump furthered the Obama policies,” Puzder said.
Puzder reels off the destructive policies Obama forced on our nation:
President Obama raised taxes on businesses and individuals. He expanded the federal government’s size and power through dramatic increases in the number and scope of federal regulations. He discouraged domestic energy production – for example, refusing to authorize the Keystone XL pipeline and openly attempting to bankrupt the coal industry.
The economy is now booming because President Trump took the opposite course. President Trump has dramatically cut both taxes and regulations – shrinking the government’s size and power – while aggressively encouraging domestic energy production.
It was Hillary Clinton – not Donald Trump – who committed to continue the Obama’s economic policies. Had Clinton become president, we would be experiencing the same anemic economic growth we experienced under the Obama administration.
President Obama’s post-recession gross domestic product (GDP) growth averaged an anemic 2.1 percent. In his last year in the White House, GDP grew at a pathetic 1.5 percent – hardly creating what Goolsby described as “some of the best economic conditions for a new president in a half century.”
The differences between the Obama and Trump economic policies couldn’t be clearer. It’s like a baseball team firing a manager with a poor winning percentage whose strategy was based on speed and hiring a manager who replaces all of the team’s players, switches to a power strategy and wins the World Series.
Puzder added that, “The unemployment rate in September stood at 3.7 percent, the lowest rate since 1969. Not coincidentally, for the week ending Oct. 15, initial claims for unemployment benefits were the lowest since 1973, when the U.S. population was 110 million people smaller. This is because the Trump economy’s job creation numbers are regularly beating expectations – averaging over 208,000 jobs per month so far this year.”
The businessman went on to say, “In August, there were 7.1 million job openings – the highest number ever recorded – with only 6.2 million people unemployed. In other words, there were 900,000 more job openings than people who had looked for a job in the past 30 days. Again, a remarkable record.”
“During the Obama era, wage increases never reached 3 percent in a 12-month period. One of the problems was too many people working part-time in the Obama years,” Puzder reported.
On the other hand, “We are averaging 3.3 percent GDP growth year to date with GDP growth coming in at 4.2 percent in the second quarter and 3.5 percent in the third.”
And… “It’s early, but the Atlanta Federal Reserve is projecting over 2.6 percent growth for fourth quarter. If true (and I believe that estimate is low), GDP growth would be 3.1 percent for 2018, making it the first year since 2005 with 3 percent or better GDP growth.”
Puzder has much more at his op-ed and it is worth reading.
So, get to the polls and vote Republican or you will see this success come screeching to a halt if the Democrats take over Congress.
But, in the end, the main takeaway is this: “Mr. Obama, you didn’t build that!”
Follow Warner Todd Huston on Twitter @warnerthuston.
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