Benjamin Frank
Frank
Junior Chimp
Posts: 7,066
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« on: January 23, 2021, 10:57:27 AM » |
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One way of looking at the economy under Obama is that it didn't get back to pre recession levels until 2014, another way of looking at that though is that after the U.S economy started to grow again around 2009, it took 11 years for the U.S economy to go into another recession.
As detailed above, what it took to keep the U.S economy growing is accurate, I don't doubt, but there are benefits to long term growth such as this. Essentially there is a feedback effect of continued growth having positive effects through business confidence to make long term investments, to people being willing to take risks to start new businesses, to the long term unemployed being able to find work as the economy continues to expand.
When it is expected that there will be a recession every 3-5 years, these things don't happen to anywhere near the same extent.
So, Trump was able to benefit from this feedback effect until Covid.
In short: Thanks Obama!
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