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Last week, President Obama stirred controversy after giving a speech where he told attendees that credit for the historically strong U.S. economy should go to him, and not President Trump.
After accusing Trump of being a “threat to our democracy,” Obama went on to say “When you hear how great the economy’s doing right now, let’s just remember when this recovery started,” alluding to his own role in the economic upturn.
"[E]conomically I feel like [Trump] is really helping us." Tweet This
President Trump responded quickly, telling supporters “He was trying to take credit for this incredible thing that’s happening. It wasn’t him.”
So who deserves credit for how well the economy is performing?
Campus Reform headed to Michigan State University in East Lansing, Michigan to ask students for their opinions.
“He’s been out long enough now, [the economy] is not on him anymore, it’s more on Donald Trump. I guess he’s a little bit in the wrong,” said one student when asked about former President Obama’s comments.
“I would, unfortunately, side with Trump on this one. I think he has done a lot for the economy that Obama didn’t do such a good job on so I’ll side with Trump on that one,” added another.
Other students added “I feel like once a President’s done they hand it off,” and “in terms of [economic] confidence and changing people’s attitudes, I would say that’s mostly Trump.”
Throughout the day, many self-identified liberals were in agreement: even if they didn’t like to admit it, Trump’s economy is booming.
“Of all the things I have a problem with, the economy isn’t one of them… He’s a businessman. I think that’s his strong suit,” admitted one student.
“His tweets and stuff, I find offensive… but economically I feel like he’s really helping us,” said one, while another added, “overall yeah, he does make some good deals.”
Another student said she hoped he’d become “a little bit more well mannered,” but when it came down to it, “I do know for a fact he’s been helping… and we’ve been doing better with unemployment.”
While the legislation faces an uphill battle getting through Republican-controlled Congress, it demonstrates a growing backlash against companies using extra cash to reward shareholders instead of sharing it with workers.
The data comes courtesy of the Federal Reserve Bank of New York’s Center for Microeconomic Data, which just released its latest Quarterly Report on Household Debt and Credit.
The latest report, which covers the second quarter of 2018, shows that total household debt in the U.S. increased by $82 billion in the second quarter, meaning Americans now collectively carry $13.29 trillion in debt.
originally posted by: toysforadults
You really gotta dig into what's going on with the economy to understand the underlying factor's and where it's heading.
Last week, President Obama stirred controversy after giving a speech where he told attendees that credit for the historically strong U.S. economy should go to him, and not President Trump.
Personal debt can only expand beyond income growth for so long before it destabilises the economy.
originally posted by: lostbook
a reply to: The GUT
The economy is doing great right now but it comes with a cost. Trump's decisions on the environment will be such that we will pay for it well into the future. Short term gain, long term loss.