Originally Published: February 19, 2018 6 a.m.
I think liberals are becoming hysterical and comical in their letters to the editor. A particular one, is that President Obama got us out of the recession and his policies are why President Trump’s economy is doing so well.
Yes, Obama was president after the 2008 recession, but the sheer strength of the US economy got us out of the recession, not Obama’s policies. But, the writer may be right in that Obama created the path for Trump’s economy to become successful, but not in the way that it was intended.
Obama created a hostile atmosphere for business to survive. Obama placed burdensome regulations on business. For example, the coal industry was almost destroyed plus taxes were high – all of which resulted in a stagnant economy. Jobs were lost because companies were moving to other countries. Trump came along and removed or reversed harmful policies and regulations.
Another distortion of facts was the stock market quotes. The writer uses the dates that the president left office, but the market responds to the election date, not when they begin or leave office. On Oct. 31, 2008, just prior to the 2008 election, the market was $9,325.01; on Nov. 4, 2016, just before the 2016 election, the value was $17,888.28. One week later, on Nov. 11, 2016, the value was $18,847.01. The almost $1,000 increase was not due to Obama, but because Trump was elected president.
The stock market value increase during the Obama’s years is far less than the writer stated.