2019 has been a great year for the stock market, but, no, Donald Trump can’t claim its gains are the best of any president. The Washington Post sets the record straight:
On Friday, be boasted “Trump stock market rally is far outpacing past U.S. presidents,” and he vowed that the “BEST IS YET TO COME!” Trump is making the economy and stock market a key focus on his reelection campaign. He often likes to claim this is the “best” or an “unprecedented” scenario, even when that is not the case.
While the stock market has performed well under Trump, it is not an unprecedented of performance. Trump’s stock market returns still lag behind Obama and Clinton at this point in their first terms.
The Dow Jones industrial average has gained about 45 percent since Trump was sworn in nearly three years ago. The Dow was up about 53 percent at this point in Obama’s presidency and a whopping 57 percent in Clinton’s early years in office. How much credit presidents deserve for market gains — or losses — remains a big debate, but Trump points to the stock market frequently as a barometer of how he’s doing as president.
Responsible or not, Trump seeks re-election at a time of strong markets, low unemployment and other favorable ecomomic indicators (particularly for the wealthy). His low approval ratings and the majority that most polls show favor impeachment are all the more remarkable. But it isn’t the “economy, stupid” but “integrty, stupid” that matters to at least some voters.