The governing by President Trump and his party for the past four years did not make America great. In fact the President did not learn from the failures of past republican administrations and therefore his term in office, the failures was like the failed republican past. Exploding deficits, increasing unemployment, an economic recession (a republican trademark), Job loss, spending increases, no economic plan or policy, just a tax cut for those who need them the least and a virus pandemic that Trump and his party failed to address.
Trump and his party has a history of bragging how great they are at creating jobs but trump left office with the worse job creation record since the great depression of 1928 when over 6 million workers lost their jobs. America lost approximately 2.7 million jobs on Trump's watch. That is counting the jobs created and jobs lost. That sorry job record follows the fact that no republican administration that followed a democratic administration in the last 90 years created as many jobs as the democratic administration it followed.
Trump also left office with a larger deficit than when he took office. The same fate that every other republican President has experienced since Eisenhower 67 years ago. The federal deficit at the end of President Obama's last fiscal year 9/30/17 was $666 billion. It was $1.4 trillion at the end of the Bush 43 administrations last fiscal year. At the end of President Trump's third fiscal year ending 9/30/20 the federal deficit was $3.12 Trillion. Trump's last fiscal year comes to an end on 9/30/21. In that same 67 years only one democratic President left office with a higher deficit that when he took office, President Carter.
The unemployment rate increased 1.6% on Trump's watch. It was 4.7% when he took office and 6.3% when he left office. Unemployment fell on Obama's watch 3.1%. Every republican administration except the Reagan administration since 1948 has left office with a higher unemployment rate than when they took office. However, the Reagan administration has the record of the highest and longest unemployment rate during that same time period. It stood at over 10% for 10 consecutive months from September 1982 to June 1983.
The Dow Jones DJIA index was up 57% on Trump's watch and the S&P index was up 79%. Trump bragged about the market being the best ever on his watch, but the DJIA was up 147% on Obama's watch and the S&P was up 166%.
The economic recession on Trump's watch began in February of 2020 according to the National Bureau of Economic Research, the official economics arbiter, a month before the pandemic hit. It is one of the reasons for the major job loss under the Trump administration. And to understand things clearly about economic recessions, one should note that every republican administration in the past 100 years has presided over an economic recession that began on their watch.
Total federal spending in Trump's first three fiscal years that ended 9/30/20 was up 28% over total federal spending in Obama's last three fiscal years ending 9/30/17. Trump's last fiscal years total will be known when it ends on 9/30/21. So when Trump's final fiscal year spending number comes in he will join Reagan and the Bush 43 administrations having the largest increases in federal spending in the past 40 years. Under Reagan spending increased 75% and under Bush 43 it increased 61%.
The news media in general and journalists and opinion writers in particular have failed to understand the failures of past republican administrations and instead ran with their rhetoric of lies being the great party at doing everything. They still call the GOP the conservative party. But PolitiDose knew the history of past republican administrations and the fate of the Trump administration back in 2016 and wrote commentary predicting what would likely take place on Trump's watch. (see Note below)
Yes, my fellow Americans, the very first civilization on earth, that of the Sumerians said they were taught six thousand years ago that the key to a better future was to understand the mistakes of the failed past. Otherwise, the future would be like the failed past. On January 20, 2021 President Trump left office and he and his administration learned nothing from the mistakes of the failed republican past and as a result, the future of the Trump administration ended like the failed past of previous republican administrations.
Note: See PolitiDose commentary dated 12/9/16 Titled, Will the failures under a Trump administration be like the failed past of previous republican administrations. Commentary dated 12/24/16 titled, What will the New Year Bring Politically: A continuing story. And commentary dated 11/20/2020 titled, Another first for PolitiDose as the outcome of the Trump Presidency was predicted in past commentary.
Note: Stats used in this commentary taken from CBO, OM&B, Labor Department, Treasury Dept. Dow Jones reports.
This commentary written by Joe Lorio
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