(August 3, 2018 at 12:20 pm)CapnAwesome Wrote: The economy operates on a delayed effect for many things. Policies enacted under obama, Bush, etc are still having an effect on the economy. It's not all in the moment, and the president has limited effect, as much as people like to blame or credit whoever is in office.
There is some truth to what you say. Policy decisions can have long term effects and policy decisions come from multiple entities, such as Congress, the Fed, and various bureaucracies. At the same time, for 8 years Obama, his administration officials and no shortage of left-leaning economists (Krugman comes to mind) assured us that 2% growth was the "new normal" and that Trump's prediction of achieving 4% was a fantasy. They want to have it both ways. On the one hand claiming that an anemic recovery is the most anyone could expect, then taking credit for when it dramatically improves under the next president. If Obama's policies are indeed entirely responsible for the current boom, the sluggish pace at which they improved the economy is not a point in favor of those policies.
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