Obama claims more credit for Trump boom, saying it was because he raised taxes
President Obama is at it again, repeating phony "narratives" about himself and trying to claim credit for President Trump's successes.
Here he was, speaking to Democrats in Nevada:
"So when you hear all this talk about economic miracles right now, remember who started it," he said to thunderous applause and a standing ovation.
He never even liked a good economy, let alone wanted one, back in the days when he was in the White House. U.S. economic growth, such as happened on his watch, was weak and anemic, never breaching the 3% level, and grew despite, not because of, his economic policies. The recession he got elected on was over before he even got started, and all he did was make things worse, cutting eight years off America's cumulative economic growth and leaving a generation of college graduates living in their moms' basements.
Fact is, he neither stated interest in nor actually ever did anything to create a good economy. To him, a good economy was created by stimulus spending and bureaucrat-hiring, along with some centrally planned winner-picking in the utterly unsustainable "green jobs" category. Most of all, it was tax hikes.
He's still out there with his claims, actually attributing the Trump boom we see now to his...tax hikes.
I'm not kidding:
During the Monday rally, Obama said economic growth during his presidency could partially be attributed to his administration "making sure the wealthiest Americans, folks like me, paid their fair share of taxes."
It's the only thing in fact that he cites for the current economic boom, as if Trump's tax cuts, regulatory cuts, and leaping-for-joy stock market on the news of his election really did nothing to initiate the mega-boom.
Obama's economic record, by contrast, is a sorry one.
He started by undercutting rule of law by stiffing General Motors' bondholders in favor of the United Auto Workers in contravention to written and established contract law, something that cut interest from investors in investing.
He tried to put Big Oil, creator of the fracking boom that was the forerunner of the Great Trump Boom, out of business, a federal judge actually rebuking him as a lawbreaker as he tried to ban offshore drilling.
He tried to put coal – an industry utterly necessary for the creation of his vaunted "green energy" through its role in the creation of electricity for solar transmission lines and all those electrical car plug-in stations – in the grave.
He delayed free trade agreements with vital allies to please his union buddies, and when he finally did, not all of them he signed onto were particularly free trade pacts.
He tried to put the U.S. under the purview of United Nations-style bureaucrats with his signature of the Paris climate accord, weighting down business with regulations further.
He gave his Environmental Protection Agency free rein to regulate up the wazoo. Its tens of thousands of bureaucrat-empowering regulations are still being hosed out by President Trump.
He hiked taxes as much as he could, calling it a matter of having the rich pay their "fair share" as he determined it.
He loaded business with gargantuan costs of health care mandates, including Obamacare, which, again, benefited bureaucrats and campaign contributors but squashed private enterprise.
And he never, ever, ever spoke of a need to create a good economy, not once, nor did he ever bring up cutting taxes except when he was trying to sell some tax hike that would have harmed far more people.
And heck, he told every business out there, every risk-taker, every start-up, that "you didn't build that." Only government could build things, he argued, citing the interstate highway system, which was hardly a government project.
He was an amazing insult to private enterprise. Not surprisingly, his own attorney general, Eric Holder, once said he loathed any job in the private sector.
Now we have President Trump, applying President Reagan's tried-and-true recipe for prosperity of tax cuts and deregulation, easiest and least-secret formula in the world, and soaring in the polls for its works-every-time-you-try-it result – and here's Obama again, suddenly foisting himself in the spotlight, and now trying to claim credit, despite still not understanding how it's done.
He hasn't a clue about how prosperity is created and is mistaking the natural bounce-back of business after a recession with his own genius. For raising taxes.
Spare us this. It's the spectacle of a revolting ignorance coupled with Obama's giant ego.
Only a midterm rebuke is going to send this delusional socialist the appropriate message he deserves.
Memo to Obama: You didn't build that.