President Donald Trump frequently touts the growth of the stock market as proof he’s done a good job for the economy.
Not much is said by Trump over why he thinks he plays a role in the growth of the stock market, nor whether such growth is good for the American people. Reportedly, only half of Americans even invest directly in the stock market, and among those that do, most are doing so primarily through their retirement accounts. It’s mainly the already-wealthy who benefit from a rising stock market, the Chicago Tribune has noted.
But even if we go along with the dubious claims that a good stock market is good for America, Trump’s stock gains since becoming president aren’t the best ever seen in recent presidencies.
According to a report from Axios, the stock market has increased by about 42.2 percent under Trump’s watch, since his inauguration to this week. Taken in comparison to other presidents like Bill Clinton and George W. Bush, that’s a higher output.
Stock market under Trump posts record highs, but markets under Obama performed far better https://t.co/hsxzG4iLBd
— Newsweek (@Newsweek) December 27, 2019
But it’s lower than other presidents, too, including George H.W. Bush and Trump’s immediate predecessor, Barack Obama, whom Trump is frequently trying to outdo or prove he’s better than.
Indeed, during the same period of time, Bush Sr. had a 45.5 percent stock market gain. Obama’s was even more pronounced, with Wall Street gains increasing by 56.2 percent.
In comparing the two most recent presidents, Trump’s output in stock gains is actually nearly 25 percent slower than Obama’s.
Trump’s supposed economic prowesses have been challenged as of late. As previously reported by HillReporter.com, one of the current president’s predictions about the stock market proved to be untrue, as he suggested that any attempts at impeaching him would result in a crash on Wall Street.
As it turns out, within the 87 days that the impeachment process took, the stock market flourished, and vastly outperformed previous gains seen in the 87 days prior to the impeachment inquiry being announced in September.