One of Trump's favorite economists blames Great Recession on Obama

Last week, Republican economist Art Laffer told Fox News that Barack Obama “was the reason why we had the Great Recession.” As Laffer argued, there was a global economic crisis because investors were panicked by the prospect of an Obama presidency.

“[I]f you’ll remember, coming into the election in 2008, when Obama started rising in the polls and doing well in the polls, the stock market crashed. And the stock market tells you what will be, not what has been. The stock market looks forward. Laffer added that if he thinks Donald Trump is likely to lose, he’ll start moving his investments away from the market.

When the the GOP governor’s agenda failed to deliver on any of the expected results, Laffer was pressed for an explanation. “Kansas is doing fine,” he boasted. Since the 1970s there have been four big changes in the effective tax rate on the top 1 percent: the Reagan cut, the Clinton hike, the Bush cut, and the Obama hike. Republicans are fixated on the boom that followed the 1981 tax cut . But they predicted dire effects from the Clinton hike; instead we had a boom that eclipsed Reagan’s.

Source: Entertainment Trends (entertainmenttrends.net)

MaddowBlog Riiiight. Same time halliburton - Cheney ripping the military in Iraq OUR military way overcharged US the taxpayer on fuel double I hear nobody remembers this? People said Cheney came off marque but I'm sure still on board. Sticks and stones.....

MaddowBlog Don’t read, can’t remember, believe things that only exist in their own heads... sounds like a disease. Need to be watched 24/7. Selective memory. Ya, let’s blame the black guy. This was baked into the cake in 2008. POTUS44 I am glad you handled the mess. HePersisted 🔥

MaddowBlog Arthur 'Laffable'

MaddowBlog Complete bull

MaddowBlog This administration thinks the American people are dumb we are not!!!!

MaddowBlog Clinton years were fantastic W/Cheney years were a catastrophe Obama was 8 solid years of recovery from the W/Cheney catastrophe but of course red hats blame everything on the Democrats it's amazing what 2 decades of fox propaganda has accomplished

MaddowBlog Trumps favorite economist?hahaha is it that easy to stir up your base?

MaddowBlog

MaddowBlog As reliable a source as Fox.

MaddowBlog Truth hurts

MaddowBlog Clearly he is partisan and misinformed. Obama was not even in office. And why do you publish this drivel ?

MaddowBlog 🤣🤣🤣🤣👌

MaddowBlog We in America have been gaslighted so much in the past 2 years that America may be the sole cause of global warming from all the gas fumes coming from the Trump Administration

MaddowBlog If a tree fell in the woods and FoxNews or one of Trump's 'experts' weren't there to cover it, would it still be President Obama's fault?

MaddowBlog MadcowBlog

MaddowBlog Well so do I.

MaddowBlog Why not expose the truth about Laffer? All he did was take a previous late 19th century & earlier TDE & used it within the GOP to defraud all of America. TDE is VOODOO economics to enrich the wealthy further & is right in step with Trumps Navarro, heterodoxy, fraud & VOODOO LIES!

MaddowBlog NO! It crashed because of the MORTGAGE DERIVATIVES SCHEME! 🤑🤬🤮

MaddowBlog Who was in Office before 2009-8-7-6.That could be the Pres. to blame.The Great Recession.

MaddowBlog What BS. Americans know better. We lived through it!

MaddowBlog Obama did exacerbate the recession with his nonsense policy’s!

MaddowBlog I don't have to fact check. I'm old enough to remember. It was Bush.

MaddowBlog I wouldn’t have expected anything less from a man who came up with trickle down theory on a napkin.

MaddowBlog Correct. Because it’s not a recession or a Great Recession if Obama doesn’t burden the recovery with regulations and taxes. It began before him but it deepened because of him.

MaddowBlog

MaddowBlog That's absurd.

MaddowBlog I’ll have what he is smoking 🤘🏼

MaddowBlog That’s like blaming the Great Depression on FDR

MaddowBlog Of course he does. Trump only associates himself with liars.

MaddowBlog Who wasn’t president when the recession hit.

MaddowBlog Who give a damm what those freak show says?

MaddowBlog Yup their go to scapegoat🙄

MaddowBlog That’s a shocker...

MaddowBlog The one Obama inherited? Good night, Gracie!

MaddowBlog Laffer is a laughing joke.

Oh BROTHER 🙄😡😡

MaddowBlog

MaddowBlog Just another Republican wanting to be Trumps buddy by saying what Trump loves to hear is someone not afraid to lie about a good President like President Obama. Trump is so jealous of love people have for President Obama he changed ever law and even claims SB Fence P.Obama put up

MaddowBlog One of President Trump's economists needs to check his calendar. The recession hit in 2007 while George Bush Junior was still President. Obama inherited the recession and turned it around

MaddowBlog a course he did.. he is one of Orangeman's favorites, correct. Why would you report that.. believe Fox News is probably blasting that one

MaddowBlog Well he had 8 long years to turn it around.........

MaddowBlog Clever of Obama to manage that two years before he was president.

MaddowBlog Obama is the most powerful person who ever lived. He influenced events before he was born and then before he was in off and now years after leaving office. WHO KNEW?

MaddowBlog Let's flip this. Trump is not responsible for the good economy either. He inherited it, just like Obama inherited the recession.

MaddowBlog Art (trickle down) Laffer is partially responsible for the shrinkage of the middle class. Laffer curve is a joke. Laffer was adviser to Sam Brownback in Kansas (the state essentially went broke). He is also flat tax buds with Kudlow, Moore and Forbes. nothanks

MaddowBlog The GOP just like their conman cult leader needs a Useful Idiot to give the con a patina of credibility.

MaddowBlog that is a lie. an absolute lie. the responsibility for the recession rests squarely on the shoulders of george w bush and republicans who said nothing to him for eight years as he ran this country into the ground, financially. Obama made the biggest cut in the debt in history.

MaddowBlog He’s not wrong.

MaddowBlog Goodbye, American neoliberalism. A new era is here. Cornel West

MaddowBlog Lol

MaddowBlog Your name is your destiny, and it’s hard not to laugh at Laffer.

MaddowBlog Racist rascist racist

MaddowBlog _______________________XX

MaddowBlog Lol! That’s a funny one. It really is alarming that Trump’s uninformed (lied to) or blindly willful supporters will believe it even if you lay out the timeline of the recession.

MaddowBlog ?

MaddowBlog Another day, another Republican blames Pres. Obama for GOP failures. 🙄

MaddowBlog This is idiocy at its finest and I have to wonder if Laffer is saying this load of crap 'cause he wants to be nominated for the Federal Reserve Board.

MaddowBlog Trump who do you think took this country out of the 2008 recession

MaddowBlog And because his brain-dead cult followers won't read anything to fact check it, they'll parrot those comments. They are like zombies. They're dead and they just don't know it.

MaddowBlog America needs a progressive economy. We need to get things so people can work just ONE job and make enough money to live comfortably. This leaves time for people focus on their families and health. Now people are working themselves to death and still got no money.

MaddowBlog Yeah! And it was Obama who murdered and maimed over 50K of our young men and women, along with over 100K Iraqi civilians in that illegal war for oil....wasn't it? Anyone? Bueller?

MaddowBlog Nut cases.

MaddowBlog Art Laffer is the joke of joke economists. Worse than even Stephen Moore. He peddles this nonsense to sell books & get on TV.. ⚠️

MaddowBlog Look at the calendar. Obama took over as the recession was hitting. He inherited it from bad GOP management.

MaddowBlog Calling this nitwit an idiot would be kind...

MaddowBlog

MaddowBlog 😀

MaddowBlog Trump should take a look in the mirror!

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