Comments by "Hobbs" (@hobbso8508) on "Biden announces changes to PPP loan program" video.
-
@midwestmusic1909
"Unemployment rates during trump admin fell to 3.5 (lowest since 1969) while Obama's dropped from 6.2%- 4.9%."
Obama inherited a financial crash, and immediately started to turn it around, with unemployment starting at 7.8% when he took office, and increasing to 10% due to the disastrous trend the unemployment was going. You are referencing the unemployment when Obama was elected, not when he took office. Obama reversed the rate at which the unemployment rate was increasing. Trump's unemployment rate was a continuation of Obama's in almost every way. You also conveniently left out the massive unemployment under Trump due to his poor handling of the coronavirus response. In the end Obama managed strong and stable growth, with jobs being added every year and the financial sector becoming more stable than ever. Obama created over 11.5 million jobs, Trump lost 3 million.
"Under trump the stock market index rose by 12.2% vs 7.5% under obama."
Not only did Obama inherit a recession, the stock market is also not a good indicator of the economy as a whole, but more a sign that the rich are getting richer. This is also not true when you include Trump's failed last year. Your numbers are yet again wrong. Obama's S&P 500 growth was 13.84%.
"Lastly, annual GDP growth under trump averaged 2.0% vs obama at 1.4%.
"
Again, global recession and Trump crashed the economy. What was the GDP growth in 2020? Trump averages 0.95% growth, while Obama actually hit 1.62%.
Funny that was your last point and not the deficit, which Trump immediately started to increase when taking office, which is the main reason for his apparent successes. You can make any of these numbers look great by pumping billions into them, which is exactly what Trump did. Obama got the deficit down to under $500 billion. Trump took office and the deficit is almost a trillion and growing, hitting 4 trillion when he failed the economy and the people.
1
-
1
-
1