Guest post by Joe Hoft
On Monday it will be 150 days into President Trump’s first term and on Tuesday it will be five months since President Trump’s Inauguration on January 20th. The main stream media (MSM) and Democrat Party will not report it but when compared to President Obama’s first five months, President Trump’s economy is just plain on fire!
Despite the phony Witch Hunt going on in America, the economic & jobs numbers are great. Regulations way down, jobs and enthusiasm way up!
— Donald J. Trump (@realDonaldTrump) June 16, 2017
President Trump is Right and the Numbers Prove it – Especially when compared to President Obama during the same time period.
US Stock Markets
In President Trump’s first few months since the election and since his inauguration the US Stock Markets are at record highs and millions of Americans are benefitting in their retirement savings accounts.
* Since the Inauguration on January 20th the DOW is up 8%. (It was at 19,827 at January 20th.)
* The DOW took just 66 days to climb from 19,000 to above 21,000, the fastest 2,000 point run ever. The DOW closed above 19,000 for the first time on November 22nd and closed above 21,000 on March 1st.
* The DOW closed above 20,000 on January 25th and the March 1st rally matched the fastest-ever 1,000 point increase in the DOW at 24 days.
* On February 28th President Trump matched President Reagan’s 1987 record for most continuous closing high trading days when the DOW reached a new high for its 12th day in a row!
* The S&P 500 and the NASDAQ have both set new all-time highs during this period.
* The US Stock Market gained $2 trillion in wealth since Trump was elected!
* The S&P 500 also broke $20 Trillion for the first time in its history.
How does this compare with President Obama’s first few months? The stock markets under President Obama moved in the exact opposite direction in the seven months after President Obama’s election win in November 2008.
* The DOW daily closing stock market average tanked (went down) (-11%) between Obama’s election win on November 4th, 2008 and June 19th, 2009. (On November 4th the DOW closed at 9,625 – on May 20th the DOW closed at 8,539. Overall it decreased more than 1,000 points). This is the opposite direction of President Trump’s rally.
As of today, President Trump decreased the US Debt since his inauguration by (-$101) Billion.
President Obama on the other hand increased the US debt in his first five months by $771 Billion.
Obama increased the US debt in his first 5 months by $872 billion more than President Trump or by nearly a trillion dollars more!
According to the Bureau of Labor Statistics President Trump added a projected 810,000 jobs in his first five months (January through May 2017.) President Obama on the other hand lost more than 3.35 million jobs in his first five months. (President Obama was so bad at creating jobs that by the end of his second term he said that jobs were not coming back.)
Also according to the Bureau of Labor Statistics President Trump decreased unemployment every month since his inauguration (January through May 2017.) The unemployment rate in January 2017 was 4.8% and by May it was down to 4.3%.
President Obama on the other hand again moved in the opposite direction. In his first five months as President the US unemployment rate increased each month from 7.8% in January 2009 to 9.4% by May of 2009.
Housing sales are red-hot in the US right now. In 2011, houses for sale were on the market an average 84 days. This year, it’s just 45 days.
According to the US Census Bureau, there were nearly twice as many US housing sales in the past couple of months as there were under President Obama in 2009 during the same time period. (The annualized housing sales rate for April 2017 is reported at 569,000 where in 2009 this amount was only 337,000.)
The US Manufacturing Index soared to a 33 year high in February 2017 shortly after President Trump was sworn into office. The index reached 43 in February which was the best outlook since 1983 under President Reagan.
In Obama’s first five months in office (January through May of 2009) the best manufacturing index activity rating was a negative -22.
The difference here is greater than 50% with Obama again in the wrong direction.
Fed Funds Rate Increases
The Federal Reserve has increased interest rates three times since President Trump was elected into office in November. The Fed increased intereste rates only once in Obama’s 8 Years prior to the increase in December.
No Fed Funds Rate increases took place between June 2006 and December 2015. CNBC reported in December 2015 that President Obama oversaw “seven years of the most accommodative monetary policy in U.S. history” (from the Fed). But still the Obama economy due to numerous job killing initiatives pales when compared to President Trump’s.
Illegal immigration is down 67% since President Trump’s Inauguration. President Obama opened up the US borders and Trump has drastically shut down illegal immigration. The result of this is lower costs for the federal government and taxpayers.
Americans are expected to enjoy their summer vacations more due to low gas prices. The USA Today reported that:
American drivers are poised to reap unexpected savings at the gas pump after oil prices kicked into reverse.
The low gas prices that benefit Americans are due in part to President Trump’s actions to allow drilling in the US, reducing the amount of foreign oil imported from Middle East nations. Under President Obama gas prices in the US reached nearly $4 a gallon. President Trump’s actions are yet to be seen but if output rises as expected in the US, the price of gas will remain low or decrease.
Decrease in Regulations
One of the first things that President Trump did in office was to reduce the number or burdensome regulations put in place during the Obama era. In January President Trump signed his 2 for 1 executive order mandating that for every new regulation, two regulations needed to be revoked. Even far left Politico notes that significant federal regulations since Trump’s inauguration have slowed to an almost total halt.
Regulations cost Americans and American companies money to implement and maintain. Reducing or halting regulations allows companies to spend their money on more prudent money making areas.
Overall based on the above data it is clear that President Trump is doing a solid, if not excellent job.
The mainstream liberal media won’t report this, but when looking at the economy, President Trump the businessman crushes the former community organizer Barack Obama in every meaningful measurement.