Experts reveal which president is more responsible for booming economy, long-term growth potential

[WestVirginiaRebel]

The Blaze

Last year, the economy surged to new heights as the stock market broke countless records, unemployment reached record lows, and the overall economy expanded. The growth has continued into 2018. But whose leadership led it there? President Donald Trump’s or the leftover fruits of the Obama administration? According to the Wall Street Journal, the answer is clear.

What did the experts say?

The Wall Street Journal recently surveyed 68 academic, business and financial economists and found who they believe is most likely responsible for the booming economy. According to the Journal, “most” said Trump and his election are at least partially responsible for the growth.

 

Compared to what they said about Obama in 2017, here’s what the experts said:

• The majority of economists surveyed said Trump is “somewhat or strongly positive for job creation, gross domestic product growth and the stock market.” They gave Obama “mixed” marks on job creation and low marks on GDP growth.
• Regarding long-term growth potential, the economists gave Trump “neutral or positive” marks while they gave Obama overwhelmingly “negative” marks. They said Obama’s regulations “came at a cost to economic growth.” Obama’s lack of innovation also earned him very negative marks.
• The economists cited Trump’s tax reform bill and his actions to cut regulations as very positive influences on the economy.
• The economists also cited Trump’s actions on taxes and regulations as being very helpful for businesses, which in turn benefits the economy as a whole.

Chad Moutray, chief economist at the National Association of Manufacturers, told the Journal: “There is definitely a sense in the business community that the president’s actions on taxes and regulations have led to a more pro-growth environment for them to operate.”

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Trump vs Obama.