US President Donald Trump has slammed former President Barack Obama for causing economic depression by introducing “job killing regulations and roadblocks” during his two terms in the White House.
In a fresh foray against his predecessor, Trump claimed Saturday that the US economy was heading for another depression under Obama and would have crashed had a Democrat won the 2016 presidential election.
He famously said last year that he had transformed the Obama-era economy and “accomplished an economic turnaround of historic proportions.”
“President Trump in his first year and a half has already tripled what President Obama did in eight years,” White House Press Secretary Sarah Huckabee Sanders said while defending Trump’s performance in creating jobs for African Americans.
Obama responded to those claims by dismissing Trump’s economic bravado during a speech before the midterm congressional elections last September.
“Let’s just remember when this recovery started,” he stressed.
Trump has tied the fate of the US economy to his presidency, warning that any possible move by opponents to undermine his presidency would result in economic chaos.
He warned last August that the market would crash if he was to be impeached, while responding to questions about Democratic efforts to impeach him.
“I don’t know how you can impeach somebody who’s done a great job,” he told Fox News.
“I’ll tell you what, if I ever got impeached, I think the market would crash,” Trump added. “I think everybody would be very poor. Because without this thinking you would see numbers that you wouldn’t believe, in reverse,” Trump expanded on his claim.
The Republican head of state repeated his bombastic claims about flourishing American economy during his second formal State of the Union address on Tuesday.
“Unemployment has reached the lowest rate in over half a century. African-American, Hispanic-American, and Asian-American unemployment have all reached their lowest levels ever recorded,” he maintained.