‘He rode the Obama economy for the first part of the presidency. He’s still riding it….’
(Kaylee McGhee, Liberty Headlines) CNN anchor Don Lemon said President Donald Trump is taking credit for job growth while “still riding” the Obama economy.
Lemon said the Trump administration should expect a market crash in the near future as the boost from GOP tax cuts begins to fade.
Trump has criticized the Fed for its meddling after having kept the interest rates close to zero for nearly Obama’s entire tenure in office while economic growth remained stagnant.
Obama and his Treasury secretary, Jack Lew, referred to the underwhelming GDP and employment rates on their watch as the “new normal,” although the former president more recently has demanded that he receive credit for building the current economic prosperity.
Many economists, however, have been hesitant to oblige.
“The boost the tax cuts gave the economy is fading,” Lemon said during a panel discussion on “CNN Tonight.”
“It led to more than $1 trillion in stock buybacks, helping shareholders, but American workers didn’t see a noticeable boost in wages compared to the years before, and the federal deficit is ballooning.”
New York Times columnist Frank Bruni agreed, arguing—without evidence—that former President Barack Obama should receive the credit for the booming economy, not Trump.
“He has taken full credit for things that he doesn’t deserve full credit for because a lot of this stuff gets set in motion before, and a lot of it is about the end of the Obama presidency,” Bruni said.
Naturally, Bruni prognosticated that the bubble would soon burst. Only then, he said, would partisan hacks like himself be willing to bestow credit on the current president.
“[Trump] has to take full blame for it when in the second two years of his presidency, after his policies have had more time to kick in, the economy is doing worse. He’ll try to deflect that and come up with Trump conspiracy theories, and blame it on Barack Obama. He’ll probably find a way to blame it on Hillary Clinton, but it won’t fly,” Bruni said.
Lemon agreed: “He rode the Obama economy for the first part of the presidency. He’s still riding it.”
Lemon and Bruni’s analysis, however, is vastly different from what the majority of the American public believes. A recent poll, conducted with Harvard University’s Center for American Political Studies, found that 47 percent of likely voters surveyed believe Trump is responsible for the current company. Only 21 percent said they believe Obama is responsible.
Trump has offered his own assessment of Lemon’s job performance in the past.