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Bansi Sharma @bansisharma
, 12 tweets, 3 min read Read on Twitter
1. Obama's Tall Tales

Obama is once again telling sweet lies liberals swoon over. Obama is claiming credit for an economic boom that he couldn't even dream of, let alone bring about. With his disastrous economic policies and rhetoric, he actively kept a lid on our economy.
2. At a White House meeting in June 2012, President Obama explained that he had to win re-election or Mitt Romney would get credit for an upcoming recovery during what would be his 2nd term. And yet, Obama never had 3 consecutive quarters of GDP >2%. Never before or after 2012.
3. Yes, Obama inherited a bad economy in 2009, but American economy always recovers phenomenally well and phenomenally fast after a deep recession or even a deep depression.
4. Even during the largest economic downturn in U.S. history, the economic recovery was outstanding. The GDP growth numbers during the Great Depression years of 1934, 135, 1936, 1937 were 10.8%, 8.9%, 12.9%, and 5.1% respectively.
5. Now let us see what happened after the Great Recession of 2008-2009 ended in June, 2009. Obama presided over a post-recession period for over 7 years, never ever achieving 3 consecutive quarters of GDP growth above 2%, and never ever achieving an annual GDP growth above 3%.
6. Obama kept the U.S. economy artificially depressed by his policies and "you didn't build that" rhetoric, so much so that liberal economists started telling us that U.S. will never again see an annual GDP growth above 3%. They called it the "new normal."
7. Trump policies have achieved a GDP growth rate of 2% or higher in every single quarter of his presidency, hitting 4.2% in 2Q, 2018, and heading for a >3% annual growth rate in the first full year of his presidency.
8. Now Obama emerges from Richard Branson's yacht to claim he started us on the path to this economic boom. No he didn't. He tried hard to prevent it. Obama couldn't make the American economy soar if he governed for a 100 years. No mindset that loathes American businesses can.
9. Trump economy is NOT an extension of the Obama economic trend. Obama had no economic trend, other than "1-2 quarters up, 1-2 quarters down", throughout his presidency.
10. Obama is the only President in our history to have not had even a single year of 3% GDP growth.
11. So, how did Trump make the American economy soar?

Through three crucial policy levers:
a) Changed public sentiment in favor of American businesses
b) Eliminated unproductive and jobs-killing business regulations
c) Implemented pro-growth Tax Cuts

No mystery there!

The End
One more thing.
Even if we look at the cumulative economic recovery over 8 years after an economic recession/depression, President Obama's "recovery" has officially been the worst recovery in US history (despite adding almost $10 trillion to the national debt).
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