Trump and the Stock Market

The Dow Jones, S&P 500, and Nasdaq have all been hitting record highs lately. On Twitter, President Trump has taken credit for the expected gains, tweeting:

However, the gains in the Dow Jones aren’t necessarily because of Trump. Before Trump was elected, meaning when Obama was President, the economy was booming after Obama and the Democrats pulled us out of the Great Recession. Jobs were being added and the Dow Jones was up over 100%. Trump’s fiscal year started just months ago, meaning he can only take credit for about a 6% increase. Don’t get me wrong, 6% in a few months is still great, but that’s still mostly due to Obama’s policies. Since being elected, Trump and the Republicans haven’t passed one single major economic bill (yet), so they aren’t in a position to take credit for any gains. Once again, I have to say, “Thanks, Obama!”

About Holden

Holden is the creator of holdencasey.com. He is the lead editor and consistently writes about politics and finance. He often writes unbiasedly, but occasionally provides a liberal viewpoint in his work.
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