Donald Trump shattered Obama’s Frankenstein plan that was crippling the middle class.
It’s driving Obama insane how Trump is winning one victory after another.
Donald Trump destroyed another Obama legacy. This is Obama’s worst defeat.
It’s obvious that the economy is doing better under Trump than it was under the Obama years.
Obama’s solution to almost every problem was that the government should step in.
While Obama claims that his Emergency Economic Stabilization Act was vitally necessary, in reality he bailed out big businesses and paid for every politician’s pet project.
Even the left wasn’t impressed by Obama’s efforts at the time.
James S. Henry, who’s by no means a conservation economist, had nothing good to say about the Emergency Economic Stabilization Act.
“Despite the sales rhetoric about promoting recovery and saving jobs,” Henry wrote for The Nation back in 2009, “these were clearly not the plan’s only–or even its most important–objectives. If they had been, there’d be far more up-front spending on direct job creation and programs with higher multipliers and faster paybacks.”
Instead of helping the middle class, Obama made it harder than ever. People who were in the middle class found themselves paying more in taxes so that Obama could bail out the banks, and more in insurance so that Obama could subsidize insurance for others.
Trump has been doing the opposite of Obama and trying to undo the damage that Obama did to middle class America.
He told the press that undoing regulation has done more for the economy than even the tax cuts.
According to The Washington Examiner:
President Trump declared today that his war on Obama-era regulations has done more than his tax cuts have to fuel the booming economy.
In an interview with Geraldo Rivera, Trump boasted, “I will tell you, a big part of our recovery, bigger even than the tax cuts, were the regulation cuts.”
And he’s right, said Grover Norquist, president of Americans for Tax Reform, which has advocated for tax cuts and regulatory reform. He told Secrets: “Trump is correct that his deregulation policy has driven jobs, growth, and new investment. He joined Ronald Reagan in understanding the power of deregulation in helping create new opportunities for all Americans.”
During the 2016 presidential campaign, Trump promised to cut two Obama-era regulations for every new one he proposed.
In fact, the administration has done far better than that goal. The latest Competitive Enterprise Institute audit of regulations found that the administration has cut far more than two for every new one.
What’s more, CEI’s Clyde Wayne Crews reported that the administration issued the fewest new rules since the government began counting them in 1975.
Trump understands that the American people can be trusted with freedom which is why the American economy is thriving.
When a Democrat comes into office they try to regulate the American economy into shape but that doesn’t work.
The government getting out of the economy as much as possible makes it run a lot more efficiently.