President Trump
Donald Trump Giuliani used the provisional ballot to vote in the 2020 elections, the same method he despised in the fight to overturn the results. closes its term in office with a significant increase in the stock market, but failed to achieve the stock market gains observed in predecessors Barack Obama
Barack Hussein ObamaBiden faces a monumental task of healing the divided country Garth Brooks to play at the swearing-in ceremony Biden Obama honors MLK Day: “Never gave in to violence, never waved a treacherous flag” and Bill Clinton
William (Bill) Jefferson Clinton The challenge of Biden’s early days: stay focused on the message Why the Senate shouldn’t rush an indictment Review of pardon – let the president and Congress have more voices.
On the day of Trump’s inauguration, the Dow Jones industrial average rose from 19,827 to 30,930 on Tuesday, an increase of 56%.
This increase is below the 73.2 percent increase seen by the Dow in Obama’s first term or the 105.8 percent increase in Clinton’s first term.
A similar trend was true for the S&P 500, which gained 67.8% below Trump, rising from 2,263 to 3,799. He won 84.5 percent in Obama’s first term and 79.2 percent in Clinton’s first term.
The only exception in the last three decades has been George W. Bush, who has seen the Dow fall 3.7% and the S&P down 12.5% in its first four years.
The figure will be unwanted news for Trump, who has frequently supported the performance of the stock market as a sign of his economic insight and business policies.
The outgoing president further underlined the market in a farewell address on Tuesday.
“The stock market has set one record after another, with 148 maximum values in the market in this short period of time and has stimulated the pensions and pensions of working citizens across the country,” he said, adding that 401 (k) were reached. maximum.
“I’ve never seen numbers like I’ve seen before and after the pandemic.”
Other indicators also show that Trump has failed to live up to many of his major promises in the economic campaign.
Trump, who campaigned for the unlikely promise to eliminate the $ 14.4 trillion debt held by the public, oversaw a 50 percent increase in the debt level, leaving it at $ 21.6 trillion.
While a significant part of this increase was due to emergency spending to fight the COVID-19 pandemic, more than half is attributed to the combination of unfunded tax cuts and increases in domestic and military spending in addition to the previous debt growth trajectory.
Trump also failed to reach the 3% annual growth rate he promised during the campaign and in office, let alone the 4, 5 or 6% rates he occasionally promoted.
It oversaw the highest quarterly economic growth in the third quarter, which grew at an annual rate of 33.1 percent, but this was largely a return from the worst quarter ever, with a decline. 31.4 percent in the second quarter pandemic and 5 percent in the previous quarter.
The only area in which Trump’s economic legacy has shone has been unemployment, which has fallen to a 50-year low of 3.5 percent under his supervision and recorded record lows among groups such as African Americans and Latin Americans.
But as he resigns, those numbers are rising as a result of the pandemic, with unemployment at 6.7%, including 9.9% for African Americans and 9.3% for Latinos.