Obama attempted to take credit for the booming economy under President Trump in a tweet on Presidents’ Day.
This marked the anniversary of Obama signing the 2009 economic stimulus package.
“Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act,” Obama wrote.
“Paving the way for more than a decade of economic growth and the longest streak of job creation in American history,” Obama added.
Obama included a photo of his signature on the bill.
TBut, the Trump campaign immediately fired back that the economy was recovering only because of the actions Trump took to undo Trump’s predecessor’s policies, Fox News reported.
Trump campaign national press secretary Kayleigh McEnany said, “President Trump reversed every single failed Obama-era economic policy, and with it, reversed the floundering Obama/Biden economy.”
“Obama and Biden orchestrated the worst economic recovery in modern history,” she added.
“By contrast, though, deregulating, lowering taxes, and supporting free-market policies, President Trump has created the hottest economy on record, with unemployment hitting generational lows and all-time lows for African Americans, Hispanics, the disabled, veterans and many other hard-working Americans,” she said.
“Paychecks are growing at the fastest pace in a decade and twice as fast for low- and middle-income Americans,” she said.
“It’s no wonder Democrats seek to take credit for the Trump economy after eight years of betraying blue-collar workers and inflicting pain upon the middle class as Americans everywhere suffered. But the failed days of Democrat stagnation are over, and the soaring Trump economy is here to stay.”
Trump responded to Obama on Twitter, “Did you hear the latest con job?”
“President Obama is now trying to take credit for the Economic Boom taking place under the Trump Administration. He had the WEAKEST recovery since the Great Depression, despite Zero Fed Rate & MASSIVE quantitative easing.”
“NOW, best jobs numbers ever. Had to rebuild our military, which was totally depleted. Fed Rate UP, taxes and regulations WAY DOWN.”
“If Dems won in 2016, the USA would be in big economic (Depression?) & military trouble right now.”
“THE BEST IS YET TO COME. KEEP AMERICA GREAT!” Trump concluded.
Obama and his allies have long touted the impact of the $787 billion economic stimulus package, also known as the American Recovery and Reinvestment Act. The measure was passed and signed in February 2009 — about 14 months after the recession began in December 2007 and about eight months before the national unemployment rate peaked at 10 percent in October 2009.
The stimulus package was controversial at the time considering the size and scope of it, and its impact remains a matter of dispute. Obama officials, though, routinely credited the legislation with helping set the economy back on track following the historic recession, and claim it established the groundwork for economic gains under Trump.
Under the Obama administration, the unemployment rate fell steadily after reaching a high of 10 percent early in his first term, but it has continued to fall under Trump. The unemployment rate is currently at the lowest it’s been in the last 50 years.