No Joe, You Didn’t Hand Trump A Booming Economy

[PeteS in CA]

No Joe, You Didn’t Hand Trump A Booming Economy

https://issuesinsights.com/2020/10/05/no-joe-you-didnt-hand-trump-a-booming-economy/

“We left a booming economy, ” Biden said during the first presidential debate, “and he caused the recession.” Debate moderator Chris Wallace jumped in to help Biden, adding that job growth was faster in the last three years of Obama’s term than the first three of Trump’s.

One is a flat out lie, the other a clever deception.

After presiding over the worst economic recovery since the Great Depression, Obama and Biden left office with the economy stalling out, leading experts to warn that the nation was facing “secular stagnation.”

Look at the numbers. GDP growth sharply decelerated in 2016, falling from 3.1% the year before down 1.7% in 2016 – the second-worst year under Obama/Biden after the recession ended and the third year of below 2% growth on their watch.
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Here’s now the New York Times described the economy that Obama and Biden were leaving behind:

“For three quarters in a row, the growth rate of the economy has hovered around a mere 1%. In the last quarter of 2015 and the first quarter of 2016, the economy expanded at feeble annual rates of 0.9% and 0.8%, respectively. The initial reading for the second quarter of this year, released on Friday, was a disappointing 1.2%.”

The Times warned that “the underlying reality of low growth will haunt whoever wins the White House.”
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As CBS News put it at the time: “With U.S. economic growth stuck in low gear for several years, it’s leading many economists to worry that the country has entered a prolonged period where any expansion will be weaker than it has been in the past.”

Keep in mind the context in which the NYT and CBS committed Truthing: HilLIAR was expected to win. IOW, the NYT and CBS were setting her up with what they thought would be realistically moderate expectations.