Economists Credit Trump, Not Obama For Strong Economy

Chris Menahan
Jan. 16, 2018

"Economists agree: Trump, not Obama, gets credit for economy," Liz Peek wrote Tuesday in The Hill:
Who deserves credit for the booming economy? This is not a petty argument. How voters answer the question could well determine whether Democrats retake the House of Representatives come November.

Trump and Obama (and their admirers) are slugging it out, both claiming that it is their policies that have led to the ongoing economic expansion, steady job growth and higher stock prices.

Happily for President Trump, the pros agree with him. A recent survey of economists suggest it is President Trump, and not Obama, who should be taking a bow.

The Wall Street Journal asked 68 business, financial and academic economists who was responsible for the strengthening of the economy, and most "suggested Mr. Trump's election deserves at least some credit" for the upturn.
A majority said the president had been "somewhat" or "strongly" positive for job creation, gross domestic product growth and the rising stock market.

The pros cite the White House's push for lighter regulation and the recent tax bill as critical to a pro-growth environment; more than 90 percent of the group thought the tax bill would boost GDP expansion over the next two years.

A year ago in the same survey, economists awarded President Obama mixed grades. Most saw his policies as positive for financial stability, but neutral-to-negative for GDP growth and negative for long-term growth. By contrast, Trump was seen as neutral to positive for long-term gains. 
While the media wants to focus entirely on social issues, the reality is poll after poll finds all anyone seems to care about when it comes to presidential elections is the strength of the economy. Trump's policies are pro-growth. Millions of workers are going to benefit from the Republican's tax cuts. Walmart said last week they're going to raise their starting wage from $9 to $11 and pay out employee bonuses anywhere from $200 to $1000.

Trump's taken a hatchet to Obama's regulations. He's given people confidence in the economy and got the ole animal spirits all fired up.

As a friendly reminder, Barack Obama mocked the idea Trump could "bring all these jobs back" to America back on June 1, 2016.

"When somebody says, like the person you just mentioned, that he's gonna bring all these jobs back, well, how exactly are you gonna do that? What are you gonna do? There's, uh, uh, uh, no answer to it," Obama said. "Trump just says, 'I'm gonna negotiate a better deal.' Well, how? How exactly are you gonna negotiate that? What magic wand does Trump have? And usually the answer is, he doesn't have an answer."

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