Trump’s stock performance is lower than Obama and Clinton

President TrumpDonald Trump Giuliani used a provisional ballot to vote in the 2020 election, the same method he denigrated in his fight to overturn the results Trump is getting the lowest job approval rates in recent days as the Fox News DC editor-in-chief Bill Sammon is retiring. ends his tenure with a significant increase in the stock market, but falls short of the stock gains seen under the predecessors Barack obamaBarack Hussein Obama Biden faces monumental task to heal divided country Garth Brooks to perform Biden swearing-in ceremony Obama honors MLK day: ‘He never gave in to violence, no ‘never waved a treacherous flag’ and Bill clintonWilliam (Bill) Jefferson Clinton The Challenge of Biden’s Early Days: Staying Focused and On the Message Why the Senate Should Not Rush an Impeachment Trial Revise the Power of Pardon – Let the President and Congress Be Heard MORE.

Since Trump’s inauguration day, the Dow Jones Industrial Average has risen from 19,827 to 30,930 on Tuesday, an increase of 56%.

This increase is lower than the 73.2% rise the Dow saw in Obama’s first term, or the 105.8% increase in Clinton’s first term.

A similar trend was true for the S&P 500, which gained 67.8% under Trump, from 2,263 to 3,799. It gained 84.5% in Obama’s first term and 79.2% in Clinton’s first term.

The only exception over the past three decades has been George W. Bush, who saw the Dow drop 3.7% and the S&P drop 12.5% ​​in his first four years in office.

That number will be bad news for Trump, who has frequently touted the stock market’s performance as a sign of his economics and business-oriented policies.

The outgoing president still highlighted the market in a farewell speech Tuesday.

“The stock market set one record after another, with 148 stock market highs in that short period, and boosted the retirements and pensions of hard-working citizens across our country,” he said. he said, adding that 401 (k) s have reached new heights. .

“We’ve never seen numbers like we’ve seen, and that’s before the pandemic and after the pandemic.”

Other indicators also show that Trump has failed to keep many of his key economic campaign promises.

Trump, who campaigned on the unlikely pledge of wiping out publicly held $ 14.4 trillion debt, oversaw a whopping 50% increase in the debt level instead, leaving it at 21.6 trillions of dollars.

While a significant portion of this increase was due to emergency spending to combat the COVID-19 pandemic, more than half is due to the combination of unfunded tax cuts and increases in domestic spending and military in addition to the previous debt growth trajectory.

Trump also failed to achieve the 3% annual growth rate he promised during the election campaign and in office, let alone the 4, 5 or 6% rates he sometimes boasted.

It oversaw the biggest quarterly economic growth on record in the third quarter, which grew at an annual rate of 33.1%, but it was largely a rebound from the worst quarter on record with a decline of 31, 4% in the second trimester in the middle. the pandemic and 5 percent the previous quarter.

The one area where Trump’s economic legacy shone was unemployment, which has fallen to a low of 3.5% in 50 years under his leadership, and has seen historic lows among groups such as African Americans. and Latinos.

But as he leaves office, those numbers are high due to the pandemic, with unemployment of 6.7%, including 9.9% for African Americans and 9.3% for Latinos.