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Politics Trump campaign fires back after Obama claims credit for economic boom

23:02  17 february  2020
23:02  17 february  2020 Source:   foxnews.com

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Hitting the campaign trail, Barack Obama has countered President Trump by offering a reminder that the economic recovery started during his own presidency. Credit Kyle Grillot WASHINGTON — The economy is doing quite well, thank you very much, and the president would naturally like to take credit .

Larry Kudlow fires back at Cory Booker’s claim Obama deserves credit for economic recovery. You have to give credit where credit is due. Barry did create an economic boom for race hustlers, street corner vendors selling extra Obama phones, Iran, the gay mafia, the diversity & inclusion racket

The Trump campaign fired back Monday after former President Barack Obama, in a subtle swipe at President Trump, claimed credit for the economic gains in both their terms.

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Obama tweeted Monday morning to note the anniversary of his signing the 2009 economic stimulus package.

“Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history,” Obama tweeted, alongside a photo of his signature on the bill.

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President Donald Trump claims full credit for the strong economy and stock market. Who gets credit ? The story of the current US economy is actually the Obama - Trump economic boom , according to Alan Blinder, an economist at Princeton and former vice chairman of the Federal Reserve.

Yet 49 percent of respondents credited Obama for the economy ’s health, compared with 40 percent who credited Trump . During the presidential campaign , Trump portrayed the economy as floundering and called the unemployment rate “one of the Dean Baker, an economist at the Center for Economic and Policy Research, points out that when “You can’t tweet jobs back into existence.”

But the Trump campaign, in a statement to Fox News, countered that the economy is only recovering because of the actions Trump took to undo his predecessor's policies.

“President Trump reversed every single failed Obama-era economic policy, and with it, reversed the floundering Obama/Biden economy,” Trump campaign national press secretary Kayleigh McEnany said. “Obama and Biden orchestrated the worst economic recovery in modern history.”

She added: “By contrast, though, deregulating, lowering taxes, and supporting free-market policies, President Trump has created the hottest economy on record, with unemployment hitting generational lows and all-time lows for African Americans, Hispanics, the disabled, veterans and many other hard-working Americans.”

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Cory Booker was wrong to claim that President Trump is incorrectly taking credit for an economic boom started by former President Barack Obama . Gingrich's comments came after White House Press Secretary Sarah Sanders expressed disbelief on Saturday at the fact that Democrats pushed

Trump fires back : 'It wasn't him'. President Trump , campaigning himself in North Dakota for a challenger to Democratic Sen. Obama takes credit . Obama was speaking Friday at the University of Illinois at Urbana-Champaign, where he accepted an ethics in government award. He took credit for the turnaround after the "reckless behavior of financial elites triggered a massive financial crisis, 10

“Paychecks are growing at the fastest pace in a decade and twice as fast for low- and middle-income Americans,” she continued. “It’s no wonder Democrats seek to take credit for the Trump economy after eight years of betraying blue-collar workers and inflicting pain upon the middle class as Americans everywhere suffered. But the failed days of Democrat stagnation are over, and the soaring Trump economy is here to stay.”

Obama and his allies have long touted the impact of the $787 billion economic stimulus package, also known as the American Recovery and Reinvestment Act. The measure was passed and signed in February 2009 — about 14 months after the recession began in December 2007 and about eight months before the national unemployment rate peaked at 10 percent in October 2009.

The stimulus package was controversial at the time considering the size and scope of it, and its impact remains a matter of dispute. Obama officials, though, routinely credited the legislation with helping set the economy back on track following the historic recession, and claim it established the groundwork for economic gains under Trump.

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Maybe that's why Obama is running around trying to take credit for the economic boom . So what exactly is Obama claiming ? That his policies failed to kick in until after he left office? Trump halted Obama 's massively expensive new environmental regulations, and cut back old ones.

Obama claimed he was responsible for America’s recent oil boom during an event hosted by Rice University’s Baker Institute on Tuesday night. Obama suggesting he is responsible for our oil & energy boom is absurd. His policies strangled the industry and harmed energy jobs.

Under the Obama administration, the unemployment rate fell steadily after reaching a high of 10 percent early in his first term, but it has continued to fall under Trump. The unemployment rate is currently at the lowest it's been in the past 50 years.

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Meanwhile, the stock market has surged under Trump. According to a Fox Business analysis, the stock market grew 31 percent in the 807 trading days before Trump's election, but grew by 56 percent in the 807 trading days after it, up through the third anniversary of Trump's inauguration this January.

Also under the Trump administration, workers' wages rose, but according to the Fox Business analysis, had been rising slightly faster prior to Trump's first term.

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