
Former President
Obama's charges are paradoxical. On one hand, Obama seems to believe that he, rather than Trump, should be credited with the current economic boom and the emergence of
Apparently, Obama believes that all of Trump's successes are due to Obama, and all of Trump's setbacks are his own.
Obama certainly forgets the old rule: Presidents, fairly or not, get both credit and blame for everything that happens on their watch, from
Trump ran on the promise of a "Make America Great Again" economic renaissance. He pledged massive deregulation, fair rather than free trade, and tax reform and reduction.
Trump jawboned against outsourcing and offshoring, and praised rather than lectured private enterprise. He sought to reindustrialize the Midwest and promised to open new federal land to fossil fuel production, complete proposed pipelines, and lift burdensome restrictions on fracking and horizontal drilling.
In contrast, Obama had argued that the
As late as last year,
Summers had also predicted that the
After Trump's victory, economist and Obama supporter
In fact, the Dow Jones Industrial Average has climbed about 7,000 points since Trump was elected. Unemployment has hit near-record lows, wage gains are up, and the economy is growing.
Still, after 22 months, no one knows what the final verdict will be on the Trump administration. So it seems wise to wait until Trump's four-year term is over before weighing in on his legacy or lack of one.
By the same token, the frenetic Obama should take a deep breath, stop arguing the past, and allow history to adjudicate his own eight-year economic and foreign-policy record.
Given that Obama was a strong progressive while Trump surprisingly has proven to be a hard-right conservative, their presidencies offer a sort of laboratory of contrasting worldviews.
History will decide whether a more managed or more deregulated economy works best. We will learn whether a focus on traditional energy sources is preferable to an emphasis on subsidized green energy.
In recent times, Republican ex-presidents --
In contrast, progressive ex-presidents such as
Carter frequently warned that the Reagan defense buildup and tough stance toward the
Clinton became a fierce critic of the Iraq War as his wife Hillary prepared to enter the 2008 presidential race as an anti-Bush candidate.
Obama still seeks to convince the country that Trump is "unfit" to be president.
After the recent passing of
If all ex-presidents and ex-vice presidents were to weigh in nonstop on the current president and present-day politics, the result would be as chaotic as it would be boring.
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