In an interview with Fox News’ Jesse Watters, White House Press Secretary Sarah Huckabee Sanders lashed out at the prospect that the thriving economy that Trump inherited is in any way linked to former President Barack Obama (see video below).
“I think it’s laughable that President Obama thinks he has anything to do with the success of where the economy is right now,” she said.
“It started when President Trump was elected and when he got into office,” she continued. “It had nothing to do with President Obama and I think everybody knows it including President Obama and I think it’s laughable that he’s trying to take credit for it.”
Sanders derided Obama on the basis of GDP, job growth, and consumer confidence.
While Trump has touted the fact that the economy hit 3 percent GDP growth in the second quarter of 2017, he has simultaneously derided the fact that Obama’s annual GDP growth never hit 3 percent.
“We just announced that we hit 3% in GDP, it just came out,” Trump said. “On a yearly basis, as you know, the last administration, during an eight year period, never hit 3%.”
Per usual, this statistic is misleading. Trump compared his quarterly GDP numbers to Obama’s annual GDP numbers. During Obama’s tenure as President, quarterly GDP growth hit (or exceeded) 3 percent on eight separate occasions.
It is, however, much more difficult to achieve 3 percent GDP growth on an annual basis than on a quarterly basis.
Per Fortune, “While its possible for President Trump to reach a 3% annual growth rate for 2017, most forecasters see GDP growth remaining modest over the next three years. Economists surveyed by Bloomberg expect GDP growth the hit 2.1% this year, 2.3% in 2018, and 2.1% in 2019.”
With regard to job growth, Obama presided over the longest streak of total job growth in American history. His administration added 15.8 million private sector jobs.
The highest monthly job gain under Trump – 232,000 – was exceeded on 28 separate occasions during Obama’s presidency.
While consumer confidence is high – a statistic for which Trump took credit even before taking office – it grew primarily under President Obama.
The U.S. Consumer Confidence Index for December surged nearly four points to 113.7, THE HIGHEST LEVEL IN MORE THAN 15 YEARS! Thanks Donald!
— Donald J. Trump (@realDonaldTrump) December 28, 2016
Consumer Confidence fell to as low as 25 after Obama took office in 2009 as the United States was mired in a recession brought about by the previous Republican administration. When he left office, it was at 113.7.
Consumer confidence is now at 125.9 under Trump.
In other words, it has risen 10.7 percent during Trump’s term, versus 354.8 percent during Obama’s term.
Obama inherited a dismal economy in the wake of his own Republican predecessor. With a bull market dating back to March 2009, and nearly every subsequent month of growth thereafter, Sarah Huckabee Sanders would have to be blind not to see why the majority of Americans believe that Obama is responsible for this economy. Of course, this wouldn’t be the first time that the Trump administration has disregarded even the most basic of facts.