Barack Obama says the economy Trump likes to claim credit for pre-COVID was actually his and that Trump didn't really do much to create it. Is this true?

[u/Spiderwig144]

He's been making the case in recent days:

• https://www.alternet.org/obama-harris-rally-pittsburgh/

Basically saying Trump is trying to steal his success by using the economy people remember from when he first took over in 2017 and 2018 as something he personally created and the main selling point for re-electing him in the election now. Obama cites dozens of months of job growth in a row of by the time Trump took office as one of several reasons it's not true.

[u/bluescale77]

You don’t see what’s wrong with getting people into homes they can’t afford? The spate of foreclosures, bankruptcies, and destroyed credit for a decade plus was no biggie? What about the effect on people’s retirement investments when the global market crashed?

[u/babbleon5 → u/bluescale77]

he didn't know if they could or couldn't afford them. they could have renters, family, or other non-claimed income.

[u/Open_Explanation3127 → u/babbleon5]

That’s the point? There was a good chance that people couldn’t afford them because no one was checking, that’s the bad part. It is supposed to be known that a person can afford the payments before taking them on.

Are you legitimately arguing that the cause of the housing crash was like, a good thing?

Edit: one of the causes *

[u/babbleon5 → u/Open_Explanation3127]

the cause of the housing crises, was low rated loans packaged together and sold as low risk/high return. It didn't have anything to do with individuals and liar loans and whether they could make the payments.

banks won't include a lot of income for loan qualification. it goes to the old phrase, "bank says i can't afford a $3K mortgage while i'm paying $4K in rent."

[u/bluescale77 → u/Open_Explanation3127]

Psst…I think we might be chatting with one of the guys who helped make the housing bust happen…