This is a letter in response to former business school dean Roger Smith's Jan. 26 guest column, “Trump economy is actually Obama’s legacy.” I remember the eight years of Barack Obama’s two terms, and his economy was pathetic and anemic at best.
I remember "cash for clunkers," where you could trade an old car in and get $1,000 toward a more fuel-efficient car to stimulate the economy since the GDP each quarter during these eight years under Obama was somewhere between 1 percent and 1.3 percent a quarter. We are now averaging 2.6 percent and on track for 3 percent GDP this quarter.
I also remember the shovel-ready programs, only to find out those jobs on infrastructure were not so shovel-ready.
What did go up were welfare roles, food stamp participants, and the national debt doubled from $8.5 trillion to $17.5 trillion, and the number of companies leaving the United States. Government regulation and the government in general grew.
Obama was a community organizer progressive socialist lawyer and not a business person. He figured growing the government and social programs was the best way to employ people. The Obama legacy will go down as the worst economic presidency in American history.