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REUTERS/Kevin Lamarque

But a closer look at the Trump economic situation reveals a mixed picture on several vital fronts.

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Here space 9 charts tracking the highs and also lows the the Trump, Obama, and also Bush economic climates on an essential indicators like gross domestic product, unemployment, wages, and the commonwealth debt. president Donald Trump has actually consistently pointed come the farming American economy as the the strongest indicator the his success transparent his time in the White House, calling that "terrific" and "the biggest in the background of the country."

in ~ the State that the Union attend to on Tuesday, trump card stated "our economic situation is the ideal it has ever before been," and also placed it in ~ the center of his 2020 re-election bid.

He"s additionally used his economic record together a shield to fend off the Democratic-led impeachment proceedings that space now most likely to finish with his acquittal in the GOP-led Senate.

however how walk it compare to his prompt predecessors, Barack Obama and also George W. Bush?

Presidents obtain a many credit once the economic climate is performing well and a barrage that criticism as soon as it doesn"t, in spite of the reality they don"t wield straight power over it.

Any mix of determinants can litter it out of balance, favor the dotcom bubble bursting during Bush"s an initial term, or the subprime mortgage dilemm in the housing market that caused the good Recession.

however a closer look at the Trump economic situation reveals a conflict portrait - despite it was certainly not in a beat-up state when the president take it office in 2017 together he has actually claimed.

The unemployment rate is ticking downward, and also job development is holding secure - however Trump"s trade disputes sapped organization confidence, leading providers to pull ago on hiring workers.

below are nine charts tracking the highs and also lows of the Trump, Obama, and Bush economies on key indicators choose gross domestic product, unemployment, wages, and the federal debt. As you can see, they paint a mixed picture around Trump"s bolder claims.


Overall financial growth, together measured through quarterly GDP expansion rates, has actually been steady.

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Business Insider/Andy Kiersz, data indigenous FRED

Gross domestic product measures the complete value of all goods and services detailed by the nation in a year, basically the economic output. The right GDP growth rate is in between 2% and also 3%.

GDP development was consistently solid during the George W. Shrub administration, averaging the end to 2.1% per year when adjusted for inflation, according to the Hudson Institute. But during the gaue won crisis, the united state GDP plummeted and also the economic situation contracted 2.5% in 2009.

The Obama administration confronted the worst economic crisis because the good Depression as soon as it originally took office. It passed a enormous stimulus package in February 2009 come jumpstart the economic climate - and also it was successful. The Congressional spending plan Office said in a report the GDP expansion was higher from 2009-2012 in component due to the legislation.

Trump has actually benefited native Obama"s financial stewardship, as GDP expansion under his watch has actually consistently been between 2% come 3%. In 2018, GDP expansion stood in ~ 2.9%, yet the economic climate expanded only 2.3% last year, the weakest speed of his presidency yet.


Unemployment shoot up substantially during the financial dilemm at the end of George W. Bush"s and the begin of Barack Obama"s terms prior to steadily dropping for most of the decade.

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Andy Kiersz/Business Insider

The unemployment rate actions the re-superstructure of the labor force that is jobless and also it fluctuates depending on economic conditions. However when the economic climate is healthy and also growing, it can be intended to decline.

The commonwealth Reserve approximates the herbal rate of joblessness to variety from 4.5% to 5%, which fiscal and monetary policymakers use to project full employment.

The unemployment rate hovered between 4% and 6% for most of the shrub presidency, spiking substantially during the 2008-09 financial situation to 7.8% just as that left office in January 2009.

together a result, Obama inherited an economy in free-fall. The unemployment rate peaked in ~ 10.2% in October 2009 during the recession and also 8.7 million tasks were shed from at an early stage 2007 and 2010, according to the facility for Budget and Policy Priorities. But it began falling steadily in 2011 and that trend continued for the rest of the Obama presidency.

chairman Trump took office as the economy continued its recovery - and as it underwent a decade-long expansion, the longest in American history. The existing employment price stood at 3.5% together of December 2019 - the lowest in a half-century.


Job growth, another vital labor industry measure, followed a comparable pattern. The great Recession destroyed millions of tasks per quarter, yet the economic climate has steadily included around 200,000 jobs per month because President Obama"s second term.

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Andy Kiersz/Business Insider

Job development is another vital indicator the the economy"s health.

during the first couple of years the the shrub administration, the economic climate struggled including jobs. A recession to win in 2001, i beg your pardon lasted eight months and shed work at that time. Then it bounced earlier - and its growth was stable until the 2008 financial crisis when jobs disappeared in ~ a breakneck pace. In January 2009, 808,000 tasks were lost, the low allude for this indicator throughout the great Recession.

Obama do the efforts stemming those project losses at an early stage in his term, and the economic situation started stability in 2010. They soon turned right into gains - and also he averaged out approximately 109,000 jobs created every month because that eight years (when those huge losses in ~ the outset the his presidency are also taken right into account).

task growth throughout the trumped presidency has actually largely matched its pace under Obama, sustained by a solid economy. However economic experts say the the president"s ongoing trade problems with China and also other significant economies space taking a bite the end of the jobs market and the more comprehensive economy.


Wage growth for non-supervisory and production workers in the exclusive sector slowed under after the recession, but mostly choose up during President Trump"s first term as the labor market has actually tightened.

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Andy Kiersz/Business Insider

Wages have tendency to rise when unemployment is low and hiring is solid - and also that employers room willing to pay much more to entice workers.

fairy gains were stable for lot of the shrub administration, fluctuating between two and four percent each year.

climate wage expansion took a hit throughout the financial crisis, and gains were anemic for lot of the Obama presidency. The Obama economic team referred to it as "the loose business" of his time in the Oval Office.

during the trump presidency, wages have actually climbed and also its thrived at more than 3 percent prior to slowing under again. The GOP taxes cuts may have boosted it, however economists also point to the chop labor sector as a element leading enterprise to increase salaries to tempt workers and fill open jobs.

part economists believe that wages must be cultivation faster, offered record short in unemployment. They"ve suggest some feasible explanations, consisting of declining rates the unionization that stifle the capability of workers to negotiate for far better pay, lack of vain within some industries, and also the outsourcing of jobs to employees paid less.


The usual household"s earnings fell considerably after the recession, but has recovered since Obama"s 2nd term.

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Business Insider/Andy Kiersz, data native FRED

Median household income actions the average earnings of middle class families.

Bush"s first term witnessed household"s incomes trend downward since of two financial downturns, yet they swung upward until 2007 before declining steeply during the great Recession.

The recession stretched into June 2009, follow to the nationwide Bureau of economic Research, well into the first year the the Obama presidency. The recession dealt a punch to family members incomes, i m sorry struggled to recover alongside a stop economy. However, incomes started increasing in 2012.

That tendency has continued during Trump"s presidency. By 2018, the median middle-class family saw their income grow to $63,179, follow to the Census Bureau.


The stock industry hit its bottom early on in Obama"s an initial term, and also has been largely increasing ever since, back Trump"s an initial term has seen a the majority of volatility between uncertainty approximately Trump"s trade problems with other countries and concern that the economy may it is in slowing.

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Business Insider/Andy Kiersz, data native Yahoo Finance

The S&P 500 actions the stock power of the 500 biggest corporations detailed on united state exchanges.

The S&P ticked upward for lot of the bush presidency, yet took a serious hit throughout the good Recession together with the remainder of the share market.

Obama presided over the S&P"s steady recovery, which ongoing through the finish of his presidency.

Under Trump, that recovery has swung between gains and losses, carried on a summer 2019 recession fear coupled through the apprehension stemming native his trade war v China.


The federal deficit ballooned in the 2009 fiscal year, together the federal government ramped increase spending and also tax revenues dropped in the wake of the crisis. Deficits shrank in subsequent years, but have enhanced under Trump.

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Andy Kiersz/Business Insider

The federal deficit is the shortfall in between federal revenue and how much the government spends in a budget year. When the economy is healthy, the federal deficit is expected to shrink since the federal government pulls ago on spending and also has an ext space to raise taxes.

shrub took over a strong economy indigenous his predecessor, bill Clinton, through a budget plan surplus that $128 exchange rate in budget year 2001. And it to be the last time the US federal government had a excess on that is hands. The wars in Iraq and Afghanistan, and also a collection of taxes cuts, erased it and jacked increase the deficit.

Obama ran enormous deficits in his 2009 stimulus package come jolt the economy throughout the great Recession. Then the next year, he passed one $858 exchange rate tax cut that included an extension of the bush tax cuts that had an in similar way ramped increase deficits practically a te before.

trump card has continued running huge deficits throughout his presidency, which just widened with the passage of the 2017 GOP tax cuts. The Congressional budget Office projected the taxation cuts will add $1.9 trillion to the deficit end the following decade. The deficit stood at $984 sunshine for budget year 2019, and it will surpass $1 trillion next year, according to CBO projections.


As a result of those deficits, the complete federal debt has actually increased end the last 3 presidents and also is currently over $23 trillion.

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Business Insider/Andy Kiersz, data from FRED

The commonwealth debt is the amount of money the federal federal government owes. And also its been on the upswing due to the fact that the begin of the 21st century.

The debt enhanced steadily under Bush, the an outcome of a costly war on terror and also the invasions of Afghanistan and Iraq. according to the prices of War job at Brown University, the price tags of the post-9/11 battles totaled $5.9 trillion with fiscal year 2019. The tax cuts the passed also played a function in piling an ext onto the blame - and also it was nearly $10 sunshine by the moment he left office, dual what it was at the begin of his presidency.

Obama"s stimulus packages also added a substantial amount that money come the debt, despite it helped put the nation back on track economically. according to department of Treasury data and Congressional budget plan Office projections, the national debt flourished 84% under Obama"s clock by the finish of fiscal year the 2016 - slightly much more than it had under bush at 75%.

trump vowed to erase the debt throughout his presidency, but instead has actually only added to it through the GOP taxes cuts and short-term spending bills.


Trade is just one of Trump"s signature issues. Despite his aggressive trade moves, the full monthly trade deficit in goods and also services — the is, the worth of goods and also services exported by the united state minus the value of imports — has acquired larger in the last couple years.

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Business Insider/Andy Kiersz, data indigenous Census Bureau

The trade balance calculates a country"s exports minus that is imports in a given period. As soon as a country imports more goods than it exports, the an outcome would it is in a trade deficit.

The shrub administration"s profession imbalance enhanced for much of his two terms in office, partially brought on by added trading through China as it was incorporated into an international markets. Climate trade diminished sharply throughout the great Recession.

The trade balance fluctuated yet held steady during the Obama administration. And during trump card era, the deficit started to rise to levels not seen because the Bush administration - despite him vowing to "start whittling it down, and as rapid as possible" in 2017. Last year, the trade deficit stood at $891 billion, follow to the office of economic Analysis.

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Still, a growing deficit partially method the economic situation is expanding, the an outcome of increased customer spending the leads to more imports that goods.