Trending African American Unemployment Rates

A lot of "obama gone but me a house and a new charja" in 2008. Slowly realizing that isn't going to happen. Leading us up to today where "Betta get a job. Trump gone take yo food stamps"

Damn, what happened from 2008-2010?

Hmmmm

2008-2010 is what happens when idiots attempt to tell everyone what to do instead of getting out of the way.

Picking winners and losers also greatly undermines the economy. The GM bankruptcy where bond holders got screwed in favor of the unions comes to mind.

Who in their right mind would buy bonds in a union company in danger of failing if they weren’t going to be treated as secured debt?

Everything reverts to the mean, Obama deserves credit for not maintaining an undesirable rate of unemployment but when looking at things holistically he borrowed a lot to accomplish it (see: national debt), average wages were in decline (jobs not great), and the average household debt increased (iphones are a birthright).

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Looks like Obama had the unemployment trend lowering at a decent rate.

Unless there is something I'm missing, he should get credit for that.

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23 million people lost their jobs between 2008-2010. Of course unemployment has steadily dropped since.

From 2008-2016, our government spent ~$30 trillion dollars, $6 trillion of which was newly printed money out of thin air that went to bailing out over 900 companies and banks.

During those 8 years, average income dropped, the middle class shrunk, the impoverished class grew, and more people were on welfare in 2016 than there were in 2008.

Innovation and R&D stagnated. Businesses were inundated and bogged down with absurd over-regulation. Tens of thousands of companies went out of business. Tens of thousands of companies moved out of the US to maintain a base of operations in a foreign country. US dollars remitted out of the US and into foreign banks at faster rates than ever before. Over $3 trillion of which is still out there overseas.

Tax revenues went up, but so did spending (and that's an understatement). But all that added spending did nothing to foster growth. GDP averaged 2.3%. And in 2015 and 2016 it averaged only 1.8%.

The stock market took 8 years to go up 10,000 points, and actually only went up a whopping 500 points from Jan 2015 to Nov 2016. That's 2 years of stagnant economy and flat markets.

The national debt went from ~$9 trillion to ~$20 trillion. That's how much we spent above tax revenues. And what's to show for it? Unemployment returning to the mean before the housing bubble burst?

Where's the $11 trillion Obama added to the debt?

Where's the $5 trillion QE he printed out of thin air?

How do you spend $30 trillion over 8 years and all you have to show for it is unemployment getting back to it's mean and 2 straight final years of 1.8% GDP growth and +500 points in the stock market to end your presidency?

What exactly are we supposed to give Obama credit for?

I love that your thread is trying to defend Trump but is still getting downvotes from people too illiterate or buttmad to finish reading the question framing

Because they are corrupt and their transgressions are too obvious to ignore in a transparent environment?

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Even if Trump is not solely responsible for the positive results that have been achieved in the past year, if he was truly in it to hurt black Americans then why a continuation of the trend?

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Don’t present facts like this to a liberal. It’s like trying to herd cats.