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:
Stock Market hits new Record High. Confidence and enthusiasm abound. More great numbers coming out!
— Donald J. Trump (@realDonaldTrump) November 30, 2017
The Dow just broke 24,000 for the first time (another all-time Record). If the Dems had won the Presidential Election, the Market would be down 50% from these levels and Consumer Confidence, which is also at an all-time high, would be “low and glum!”
— Donald J. Trump (@realDonaldTrump) November 30, 2017
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!”
Great article, I will definitely be sharing with my close family and friends. Thank you!