What exactly has the policy footprint of President Donald Trump been other than rampant destruction of the most basic American norms at just about every opportunity? He’s run his entire administration on agenda items like a promise to build a wall along the southern border in an attempt to keep out undocumented immigrants. In contrast, the era of President Barack Obama’s time in office saw policy progress like the creation of the Consumer Financial Protection Bureau, a federal agency that has assisted in the return of more than 12 billion dollars from financial institutions to consumers. This week, Obama reflected on the legacy of his early policy efforts and admonished observers to keep up the fight.
On Twitter, he posted:
‘Ten years ago, I signed Wall Street reform into law. It was the most sweeping set of financial regulations since the Great Depression—and it’s still working today to prevent another one. Now, it’s up to us to protect it and keep fighting for an economy that works for everybody.’
The post included a video featuring remarks from him and other individuals who were instrumental in the development of financial regulations meant to protect consumers and help avert crises like the recession that was underway when Obama took office. Check out the post and video below:
Ten years ago, I signed Wall Street reform into law. It was the most sweeping set of financial regulations since the Great Depression—and it’s still working today to prevent another one. Now, it’s up to us to protect it and keep fighting for an economy that works for everybody. pic.twitter.com/jbV7p64xZR
— Barack Obama (@BarackObama) July 21, 2020
Trump has faced his own huge crisis, and his response has been an abject failure. His administration failed to take the necessary steps to combat the Coronavirus pandemic, and now the country is suffering yet another outbreak wave as hundreds of Americans keep dying from the disease each and every day.
On a broader level, the Trump administration has worked to clear the way for big business with a comprehensive, government-wide program of deregulation. Some highlights of the deregulation plans have been in the realm of environmental policy — a slew of regulations meant to protect the environment have gone right out the window (at least for a time) while Trump has been in charge. The president’s team has taken other big business-favoring steps, too, like the dramatic cuts to corporate tax rates that Trump signed into law towards the beginning of his time in office.
Check out Twitter’s response to Obama below: