Business

Obama mocks GOP on economy

by Peter Sullivan - 09/07/18 12:48 PM ET

Former President Obama criticized President Trump and Republicans for taking credit for the growing economy, arguing the economic recovery began during his presidency.

Obama also mocked Republicans for praising monthly jobs report that he suggested they undersold, at best, when he was president.

“When you hear how great the economy is doing right now, let’s just remember when this recovery started,” Obama said in remarks at the University of Illinois.

OBAMA: "When I came into office we were losing 800k jobs a month. Millions of people were losing homes. … By the time I left, household income was near its high, uninsured rates hit an all-time low. So when you hear how great the economy is, let's just remember where it started." pic.twitter.com/698WLPLNGr

— Aaron Rupar (@atrupar) September 7, 2018

“When the monthly job numbers come out suddenly Republicans are saying its a miracle,” he added.

Obama said his presidency saw similar numbers after the recovery from the Great Recession, which began before he arrived in office. “Actually, those job numbers are the same as they were in 2015,” Obama said.

Trump and Republicans have been pointing to strong economic numbers as a key argument ahead of the midterm elections, which Obama is now pushing back on.

Obama noted how dire the economy was when he took office and said his policies helped turn it around.

The jobs report issued on Friday found the unemployment rate holding steady at 3.9 percent. Wages also grew at a rate of 2.9 percent, according to the Labor Department’s report.

Trump this week said no one had a chance of defeating him for reelection in 2020, in large part because of the strong economy.

Tags Donald Trump