Editor,

Another week, another misinformation filled column from Grocott (“What Trump has gotten done as president so far” in the Oct. 22 edition of the Daily Journal).

Obama did have an economic recovery plan, and the growth rate it achieved in 2010 exceeds the growth rate achieved by Trump’s massive stimulus in 2018. Apparently, cutting taxes on corporations and increasing deficit spending on the military are not as effective as cutting taxes on the middle class and investing in infrastructure. But Grocott’s allies won the argument and kept the Obama stimulus smaller than the economy needed and stifled any follow up stimuli.

Growth rates under Trump are low despite massive stimulus. Moreover, wages were improving better under Obama than they are currently under Trump.

I hopped online to learn about improvements at the VA, and surprise. Turns out Grocott and Trump are claiming responsibility for policies begun under Obama.

I just don’t understand why Grocott is bragging about rolling back regulations. Why do we want another Love Canal? How do we benefit from propping up the dirty 19th century coal industry in the 21st century now that cheap, clean options are available? Do we really miss the Great Recession and need to lay the groundwork for the next banking fiasco?

Finally, Grocott mentions North Korea, who is still producing nuclear weapons. And he fails to mention Iran, who has restarted producing nuclear material.

Chuck Simmons 

Redwood City

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(4) comments

Lou

Stock Market (DJIA - Dow Jones) was 19,827 on Jan. 20, 2017 when Pres. Trump took office. It is, as of today, 27,186. That's a gain of 7,359 points since Pres. Trump took office.. Fidelity Total Market Index year-to-date (1-1-19 to 10-30-19....10 months) is up 22.73%. Jorg, 22% is certainly a far cry up from "flat."

Jorg

Despite compact Republican obstruction, it is simply mind-boggling what President Obama was able to do to rescue the country after 8 disastrous under the Bush administration. Under Obama, the stock market tripled, unemployment was cut in half to less than 5%, deficits were reduced, and the auto industry and the rest of the economy saved from going over the cliff. So far, Trump has been able to ride high on Obama’s accomplishments, yet he has been able to miss-manage so dramatically that the deficits are skyrocketing, - traditionally the factor that Republicans have been most obsessed with, - under Democratic administrations, that is.

Dirk van Ulden

Jorg - look it up. The stock market doubled, not tripled, during eight years of the Obama era. The stock market gained another 1,000 points in just three years with Trump. Now, the reason unemployment dropped below 5% was that folks gave up on looking for work. They ran out of unemployment benefits and the labor participation rate had dropped to a low 60%. Unemployment stats are based on unemployment benefit payments. The number of food stamp recipients doubled. The automobile industry was bailed out with taxpayer funding in an effort to help the UAW but left many GM creditors holding the bag. Only Ford refused to take government money. We ended up with Fiat buying the remnants of Chrysler. Yes, those are samples of Obama's mind-boggling accomplishments, giving a new meaning to the word.

Jorg

Where do you get your stock market data from? The S&P500 has so far increased 31% under Trump, while it gained 182% under Obama, which is close to tripling. Over the last year or so, the market has been just about flat.

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