Former President Barack Obama took to Twitter on Monday to commemorate the 11th anniversary of the American Recovery and Reinvestment Act.
The $800 billion stimulus package paved “the way for more than a decade of economic growth and the longest streak of job creation in American history.”
But the tweet apparently triggered Donald Trump, who constantly takes credit for the “greatest economy in the history of our country.” Trump frequently mentions the economy as he campaigns in his bid for reelection.
A few facts from CNN:
The average monthly job growth has declined from 224,000 during Obama’s last three years to 182,000 during Trump’s first three.
The unemployment rate has fallen to 3.6% last month from 4.7% in January 2017 as Trump took office. Yet that merely continued the trend of the last six years of Obama’s term.
Since Trump assumed the presidency in January 2017, the Dow Jones Industrial Average has risen by 47%, as of about 3 p.m. ET on Tuesday. During Obama’s second term, the Dow rose 44%.
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. pic.twitter.com/BmdXrxUAUf
— Barack Obama (@BarackObama) February 17, 2020
….ever. Had to rebuild our military, which was totally depleted. Fed Rate UP, taxes and regulations WAY DOWN. If Dems won in 2016, the USA would be in big economic (Depression?) & military trouble right now. THE BEST IS YET TO COME. KEEP AMERICA GREAT!
— Donald J. Trump (@realDonaldTrump) February 17, 2020
Change in monthly job growth
Obama: +969,000 jobs
Trump: +40,000 jobs
Change in Unemployment
Change in Deficit
Obama: -$747 Billion
Trump: +319 billion
Change in Tone
Obama: Took responsibility
Trump: Passes the buck https://t.co/6kkwDBfRTI
— Keith Boykin (@keithboykin) February 18, 2020
Economic expansion began in 2010.
More jobs created in the last three years of the @BarackObama admin than the first three or the Trump Administration. Obama took unemployment from 10.2 to 4.7. It’s 3.6 today. #Inconvenientruths https://t.co/1WdzKIiAjp
— David Axelrod (@davidaxelrod) February 18, 2020