As you'll recall, Bush inherited a healthy economy from Clinton. It took him 7 years to break it.
Take, for example, the all-important matter of jobs. Yes, many unemployed Americans are back on the payrolls. Yes, the unemployment rate continues to fall, as it did under Mr. Obama. But no, the pace of hiring has not been faster than it was during a similar period under Mr. Obama and indeed, has been even a bit slower.
In the first 30 months of the Trump presidency, jobs were added at an average rate of 191,000 a month. That’s certainly respectable, although it’s still less than the increase of 220,000 jobs a month during the final two and a half years of the Obama presidency.
{W}hen it comes to the economy, Mr. Trump still has not eclipsed Mr. Obama’s record and is many miles from making America great again.
Source: "Trump Can’t Beat Obama on the Economy" By Steven Rattner - NY Times - 8/27/2019
Investors are dealing with a painful new reality: The trade war between the United States and China could last indefinitely.
That anxiety spread across the stock markets on Monday {5/13/19}, as investors around the world tried to divine the potential fallout to economic growth and corporate profits. Bonds and commodities, too, flashed warnings of a slowdown.
Now that the Trump administration has raised tariffs on some $200 billion of Chinese goods to 25 percent, its next major escalation could cover nearly every product imported from China. The White House is weighing levies on another $300 billion of imports that includes a range of consumer products, from cellphones to computers and toys, that have so far been largely unscathed by the fight.
If consumers are forced to pay for those increases, they could be forced to cut back on spending. If the increases are absorbed by businesses, that could prove to be a drag on profit growth.
On Monday, concern that the broader tariff war could envelop parts of the economy that have so far been sheltered from the fight became evident in the shares of small companies, which fell even further than the broad S&P 500.
These smaller companies, which often have thinner profit margins and less negotiating power with suppliers and customers, could be poorly positioned to handle the next round of tariff increases.
Source: "An Unending Trade War Leaves Wall Street Jittery" By Matt Phillips - NY Times - May 13, 2019
Weaker Hiring Under Trump
Monthly job growth in thousands: Obama’s last 30 months versus Trump’s first 30 months.
Source: Bureau of Labor Statistics
After Inflation, Workers Did Better Under Obama
Private worker average hourly earnings, year-over-year percent change: Obama’s last 30 months versus Trump’s first 30 months.
Source: Bureau of Labor Statistics