Thread by @kurteichenwald

As a decades long financial reporter, @jasonbates22, I hope you are just uninformed & not wildly dishonest. You start from inauguration, not election, when assessing presidents. Second, the Great Recession hit a couple of months before 2008 election and trillions of liquidity...

https://twitter.com/jasonbates22/status/1323424925638631425

...out of the market. Put simply, @jasonbates22, there simply wasn’t the cash to bring stock prices up. Banks were shutting down margin loans, sucking even more out. Financial institutions everywhere were collapsing. Your comparison of starting post election is like saying....

...one guy climbed behind the wheel of a car with a blown out engine, the other one jumped into a car already traveling at 40mph, so the second guy is a better driver. Next, you have had massive, massive irresponsible push up of market prices, through reckless fiscal acts...

...there have never been high tax cuts at a time of economic strength and high debt in any country in the history of the world until 2017. The reason: it is reckless, guaranteed to create a market bubble with a mass crash at the end when the economy, as it must, turns down....

...weve borrowed trillions, pumped up the market with it, flooded it with cash from the fed to slow down an inevitable crash, green lighted stock buybacks through mass tax cuts AND relaxed financial reporting standards so that now companies effectively lie about their earnings...

....everywhere but in their SEC filings, using the magic of non-GAAP accounting. So, yah, run up credit cards and rob banks, you’ll feel rich and be able to pay a lot. But it’s all an illusion. So both your numbers are wrong and what they actually reflect is wrong. Fiscal...

...responsibility is hard, but Obama did it, cutting the deficit in half during great economic stress. Trump/GOP more than tripled the deficit at a time when there was already economic strength. Saying that shows anything but recklessness is uninformed.

@PeteButtigieg is right.