House Speaker Paul Ryan, in his goodbye address at the Library of Congress Great Hall at the moment, adorned the years of economic growth under his leadership and Trump administration:
“Three years ago when we last gathered in this hall, we started a good trip, “he said. “To put our nation on a better path. To move our economy from stagnation to growth.”
Ryan and his fellow Republicans criticized President Obama’s policy to lead to a weak economic recovery after the big recession ended in June 2009. Back when Ryan adopted the speaker in October 2015, the budget investor still had a residual impact by reducing federal spending.
Under President Trump, GDP growth has picked up and risen to a seasonally adjusted annual rate of 2.8 percent, including a high of 4.2 percent in the second quarter of this year.
For the context, in the last seven years of Obama’s presidency, GDP rose only 2.1
However, job growth has been similar to if nothing better at the end of Obama administration, as Republicans held both the House and the Senate. During Trump’s term of office, the economy has posted an average of 196,000 jobs a month, compared to 212,000 jobs per month during the last two years of Obama administration.