Originally published in the Deseret News.
After the Iowa caucus mishap, a friend of mine tweeted: “The Iowa caucuses were a perfect symbolic start to a Presidential campaign where Democrats will pretend that results don’t matter and @realDonaldTrump will focus over and over on his results.”
I thought it was a clever tweet for two reasons. First, the Iowa caucuses were a disaster and a worthy target for criticism. Second, a common refrain about President Trump is disdain for his tone and character, and enthusiasm for his results. After all, aren’t we experiencing the longest sustained economic expansion in U.S. history?
Indeed, we are, but the U.S. economic expansion is more than a Donald Trump story, just like the Great Recession was more than a George W. Bush story. Economic expansions, like the current cycle, often cross over presidential terms. Presidents also exert less control over the economy than many people imagine.
Moody’s analytics recently did an interesting side-by-side comparison of economic indicators. They compared the first three years of the Trump administration with the last three years of the Obama administration. The results are fascinating. It turns out, with a few notable exceptions, the economic performance of both presidents over the past six years is surprisingly similar.Continue reading Beauty is in the eye of the beholder; the Trump and Obama economies are surprisingly similar