How Every President Since Hoover Has Affected the Economy

  • Trump: “Leadership: Whatever happens, you’re responsible. If it doesn’t happen, you’re responsible.” 3:01PM Nov. 8 2013

    "Nearly all men can stand adversity, but if you want to test a man's character, give him power" ~ Abe Lincoln

    tRump is the Master of the Con with 70 years of practice/experience. It is sad that so many supposedly intelligent and educated people fall for his cons.

    DJ Trump: while I support the Dems, if I ran I would run as a Republican because those people are easy to fool.


  • From the article,


    Herbert Hoover (1929-1933)

    Herbert Hoover’s average annual GDP growth rate was -9.3%, the worst of all presidents (based on GDP rates from 1930 to 1933; the BEA does not include 1929 in its historical numbers). The Great Depression began in August of 1929, and the stock market crashed in October of that year. Hoover’s response was laissez-faire economics, as he believed that government assistance would incentivize people to stop working. His policies did not work, causing unemployment to rise to 25% by 1933.3


    In 1930, Hoover signed the Smoot-Hawley Tariff Act to protect domestic industries. Other countries retaliated, shrinking global trade. As a result, the economy contracted by 12.9% in 1932, the worst year in U.S. history.

    Trump: “Leadership: Whatever happens, you’re responsible. If it doesn’t happen, you’re responsible.” 3:01PM Nov. 8 2013

    "Nearly all men can stand adversity, but if you want to test a man's character, give him power" ~ Abe Lincoln

    tRump is the Master of the Con with 70 years of practice/experience. It is sad that so many supposedly intelligent and educated people fall for his cons.

    DJ Trump: while I support the Dems, if I ran I would run as a Republican because those people are easy to fool.


  • Barack Obama (2009-2017)

    President Barack Obama ended the 2008 recession with the American Recovery and Reinvestment Act (ARRA), which cut taxes, extended unemployment benefits, and funded public works projects. He bailed out the U.S. auto industry, saving jobs.


    The 2010 Affordable Care Act expanded health insurance and Medicaid. It slowed the rise of health care costs by encouraging more people to receive preventive care so they didn't have to use expensive hospital emergency rooms as their primary source of care.


    The 2010 Dodd-Frank Wall Street Reform Act strengthened bank regulations. The Obama tax cuts fought ongoing slow growth. Obama ended the Iraq War and wound down the war in Afghanistan.


    Obama began negotiations on the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP). He also brokered the International Climate Agreement to address climate change.


    Donald Trump (2017-2020)

    Before the 2020 COVID-19 pandemic, President Donald Trump had no recessions and no new wars during his term in office. Nevertheless, he increased spending and cut taxes. The Fed responded to those expansionary fiscal policies by raising interest rates.


    Trump advocated protectionism. He withdrew the U.S. from the Trans-Pacific

    Partnership, renegotiated NAFTA, and launched a trade war with China and other trading partners.


    n March 2020, Trump declared a state of emergency as the coronavirus pandemic broke out in the U.S. Nonessential businesses closed, and Americans sheltered in place. Stimulus measures, such as the $2 trillion CARES Act, were not enough to keep the economy afloat. GDP averaged 0.325% growth per quarter.

    Trump: “Leadership: Whatever happens, you’re responsible. If it doesn’t happen, you’re responsible.” 3:01PM Nov. 8 2013

    "Nearly all men can stand adversity, but if you want to test a man's character, give him power" ~ Abe Lincoln

    tRump is the Master of the Con with 70 years of practice/experience. It is sad that so many supposedly intelligent and educated people fall for his cons.

    DJ Trump: while I support the Dems, if I ran I would run as a Republican because those people are easy to fool.


  • Quote

    Barack Obama (2009-2017)

    President Barack Obama ended the 2008 recession with the American Recovery and Reinvestment Act (ARRA), which cut taxes, extended unemployment benefits, and funded public works projects. He bailed out the U.S. auto industry, saving jobs.

    Quote

    Donald Trump (2017-2020)

    Before the 2020 COVID-19 pandemic, President Donald Trump had no recessions and no new wars during his term in office. Nevertheless, he increased spending and cut taxes. The Fed responded to those expansionary fiscal policies by raising interest rates.

    Leftist tripe. Obama increases spending, saves the economy. Trump increases spending, interest rates go up. (They MIGHT have mentioned interest rates were near ZERO thru nearly all of Obama's term)

  • Leftist tripe. Obama increases spending, saves the economy. Trump increases spending, interest rates go up. (They MIGHT have mentioned interest rates were near ZERO thru nearly all of Obama's term)

    Interest rates went up?? That's news to me as I'd love to see interest rates go up but they havent in the past 5 years or so. Now mortgage rates may have changed but interest rates have held or gone down. Consumer credit may have gone up,but then I dont pay interest on CC's.

  • You really had to live under the brown dumbo and carter before you realize that those numbers are pretty meaningless. Consumer confidence is a great one. Unemployment numbers are great too but you have to add to that one wage growth. Then there is real wealth growth per person.


    The way all this works is you can have decent GDP and unemployment but if no one is willing to spend any money and is stuck in a dead end job because there is nothing better out there?


    The way it works too is if interest rates are sky high and you can't buy a home or a car? If your employer treats you like shit cause there is no where for you to go?


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)

  • FDR had the greatest one year growth. it was LOL..... 1942 Something very important was happening at that time.


    Hoover the worst. It was 1932.... the entire world had a bad time then cause well...... something important was happening in the world.


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)

Participate now!

Don’t have an account yet? Register yourself now and be a part of our community!