Obama responds to Trump, GOP taking credit for economy, job growth

Presidents Donald Trump
and Barack Obama
Chip
Somodevilla/Getty Images

• Former President Barack Obama chided Republicans for taking
  credit for job growth numbers that look similar to the figures
  during his presidency.
• “So when you hear how the economy is doing right now, let’s
  just remember when this recovery started,” Obama said.
• According to data from the Bureau of Labor Statistics, job
  growth during President Donald Trump’s first year in office was
  lower than any of the previous three years under Obama.

President Barack Obama thinks Republicans may be taking a bit too
much credit for the strength of the US economy.

During a
speech at the University of Illinois, Obama chided
Republicans taking credit for the current strength of the economy
when they previously derided similar figures when he was in
office.

“So when you hear how the economy is doing right now, let’s just
remember when this recovery started,” Obama said. “I’m glad it’s
continued, but when you hear about this ‘economic miracle’ that’s
been going on when the job numbers come out — monthly job numbers
— suddenly Republicans are saying it’s a miracle. I have to kind
of remind them those job numbers are the same as they were in
2015 and 2016.”

Since President Donald Trump took office, the administration and
many congressional Republicans have argued that the economy’s
growth has stemmed from deregulatory policies and tax cuts
enacted by the party. Republicans
have cheered economic data almost
identical to the numbers under Obama.

On the other hand, many Democrats and economists contend that the

economic growth and strengthening labor market are
a continuation of the strong and steady rebound since the end
of the recession.

Here’s the breakdown, per the Bureau
of Labor Statistics:

• 2014 (Obama): 258,250 jobs added monthly
  on average; 3,099,000 annual total
• 2015 (Obama): 221,417 jobs added monthly
  on average; 2,657,000 annual total
• 2016 (Obama): 176,333 jobs added monthly
  on average; 2,116,000 annual total
• 2017 (Trump): 170,500 jobs added monthly
  on average; 2,046,000 annual total
• 2018 (Trump): on pace for 208,000 jobs added
  monthly on average; 2,496,000 annual total

The tax cuts and massive fiscal stimulus enacted under Trump are
just beginning to filter into the broader economy, but so too are
the effects from Trump’s intensifying trade battles.