George W. Bush used to say a lot of smart things about the economy. No, not that time he referred to “tarriers and bariffs.” Times like these:
“When your economy is kind of ooching along, it’s important to let people have more of their own money.”
“The way out of this recession, the way to create jobs, is to grow the economy by encouraging investment in factories and equipment, and by speeding up tax relief so people have more money to spend. For the sake of American workers, let’s pass a stimulus package.”
Presidents get too much blame — and sometimes, too much credit — for the state of the economy. But as Bush used to say, the president can certainly make sure that the climate for growth and success in business is there. And he president sets the mood of the country (remember when Jimmy Carter called Americans lazy? Not good).
Enter President Trump. Even before he took office, the economy began rising. After he was elected in November 2016, businesses across the country suddenly became very optimistic about the future. Trump had vowed to slash the tax rates on business — something he’s now done. And he cut taxes for all Americans. Many will see more cash in their paychecks starting this month.
Unemployment is at a 17-year low (the rate hit record lows for black Americans), businesses are booming, the economy is growing at a strong pace quarter after quarter, and confidence across the board is sky high.
But to the Associated Press, this is still Barack Obama’s economy — even one year into Trump’s presidency.
“Trump claims credit for what is still mostly Obama’s economy,” wrote the AP.
The AP decided to write a story about how things are not all that good, and how — if they are — it’s all because of Obama.