Do presidents control the economy?

Do American presidents control the economy? No, not really. However, they can have SOME influence. In this video, Mr. Beat explains how a president can attempt to influence the economy.

Uh ok, so this is, like, the description of the video so keep reading. Produced by Matt Beat. Filmed by Matt Beat. Additional images used under fair use guidelines or found in the public domain. Music by @ElectricNeedleRoom(Mr. Beat's band), Noir Et Blanc Vie, and NEFFEX.

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Presidents have little control over the economy. As internet dorks like to point out, correlation doesn’t equal causation. It is absolutely ridiculous to blame Donald Trump for the COVID-19 recession. A pandemic obviously caused that recession, not Donald Trump. COVID-19 caused the COVID-19 recession. Not only that, economic indicators, or statistics about how we make choices in an economy, are often lagging, meaning they are confirming stuff that has already long already started.

And yet, this myth persists. The myth that the president pulls all the strings on the economy. That a president creates jobs. In this video, Mr. Beat explains that, despite not controlling the economy, presidents can at least sort of influence it.

[iammrbeat]

It's time we end this myth once and for all.
PRESIDENTS DON'T HAVE MUCH CONTROL OVER THE ECONOMY. GET OVER IT.
Have a nice day.
I love you.

Edit:
I should have also added that Biden released oil reserves in coordination with Congress. That has likely helped inflation come back down. Early on in his presidency, Biden also signed an executive order prohibiting new drilling for fossil fuels on federal public lands. That definitely didn’t help inflation go down.

Oh yeah, the sponsor stuff:

[WilliamMark]

Hang on, I thought the president had a button on his desk that said "raise gas prices" and his job was just to press it until we got mad at him

[Ppppatience]

Congress: I have the power of the purse

Also congress: I blame the president for all of the problems we fail to address

[jaredwhite]

This is all wrong.There's a do inflation button and a gas price slider in the oval office. Everybody knows that.

[bj.bruner]

Economy goes well
President: Yes, that was me

Economy goes poorly:
Clearly that was my predecessor's doing, I've inherited a mess

[TheSkyGuy]

No one "controls" the economy.
We're NOT a command economy.

However, there are things the chief executive can do to influence it. Tariffs being one thing. Trade deals being another.

Most economic policies are handled on the legislative level, not the executive.

[DanielKolbin]

It's almost as if we'd have a better world if people understood these basic but very important points, thus less blaming and more negotiating. Hope this video goes viral.

[desiho]

Wow it's almost like the issues facing any country are systemic and cannot be blamed on any one individual person but rather the collective impact of flawed institutions

[stewiegriffin]

I don’t know Mr. Beat… I met Joe Biden before he became president and he said “Guess what Jack? First thing Imma do when I get in there is hit the big inflation button that’s under the desk.” I tried to tell him not to, but he just wouldn’t listen.

[maxpowr]

As my AP US Government teacher told our class the first day; which stuck with me (went to a Catholic HS): "they removed home economics and civics from public schools as required classes, to keep the hoi polloi financially illiterate and politically disengaged."

[stanm]

This video should be shown in every classroom in America.
And a 60 second condensed version played as an ad once per hour on every primetime cable news show.

[Pheminon]

I'm an accountant and you would not BELIEVE how many times I have to tell people THE PRESIDENT DOESN'T DIRECTLY AFFECT THE ECONOMY

[TihetrisWeathersby]

It's amazing how little people understand how the economy works

[bubblegodanimation]

The amount of times a president has control but another president is at fault is crazy as well.

[Neo__The__Tv_]

Ive always told people, "the president only has certain power, they are not kings, what you really need to pay attention to is your senators and congressman. Those vote REALLY matter." And yet i know ZERO people who care about voting for senators or congress.

[PresidentPlayback]

Thanks for teaching us what we deserve to have been taught in school. You’re the best, and I hope this video reaches millions!

[alonkatz]

This stuff should be mandatory in schools. Too many times we see people who make decisions against their interest regarding the economy, the law or another political issue (realistically, everything is political). More often than not, it's simply because they don't know any better. If education actually gave everyone the tools they need to be good, independent citizens, the world might have looked like that eutopia meme that's used all the time (even on this channel once).

Speaking of important issues, I think a comprehensive video about ballot measures could be a good idea. You touched the subject recently, but it's so important in this country (even for states that suck with ballot measures), that it should be talked about more extensively. And on that note, I'd love to see a video about SCOTUS decision Hollingsworth v. Perry, that had to do with a ballot measure, California Proposition 8, that's about to be repealed this November. What's more, there may several well-known people involved in the case during its lifetime, that are relevant to present day..?

[MattBaker-ox]

Honestly 'I vote on the economy ' seems like a dodge to me. It's looking for a reason to vote for whoever you already like more for other reasons. For both those on the left and right

[caravaggiooo]

I’ve been slacking as mr Beat’s no1 fan (I’ve been living my life) but I’m back now, and probably stronger than ever so be aware everyone.

[TrentAdam]

I genuinely realized when I was 9 that the president wasn't controlling gas prices. It's amazing how people just repeat things with no thought.