Final answer:
Economic growth under Obama included economic stimulus and industry bailouts during a recession leading to stabilization despite slow growth. trump's tenure featured tax cuts and deregulation amid a recovering economy, leading to concerns about the fiscal deficit and income inequality.
Step-by-step explanation:
When we compare and contrast economic growth during Trump vs Obama, we observe that each administration faced distinct economic challenges and employed different strategies to address them. Barack Obama inherited the Great Recession, a period of economic decline marked by a severe financial crisis. His administration implemented the 2009 American Recovery and Reinvestment Act (ARRA), injecting roughly $800 billion to stimulate the economy and job creation. Furthermore, he undertook a bailout of the auto industry, which was considered a controversial move by some. Despite slow growth, these actions helped stabilize the financial industry and the auto industry eventually returned to profitability.
Donald Trump's administration saw an economy that was already on the recovery trajectory. His economic policies focused on deregulation and tax cuts, with a significant corporate tax reduction from 35% to 21%. Despite potential benefits such as increased stock market valuations, critics worried about the sustainability of the fiscal deficit and income inequality. President Trump proposed significant increases in areas like national defense and infrastructure, without concrete plans to balance the budget, potentially increasing the federal budget deficit.