The 26-minute Tuesday crash, 51% wipeout that deepened Trumps’ crypto woes - The Times of India
The Presidency of Donald Trump: A Summary
Donald Trump, the 45th President of the United States, served from January 20, 2017, to January 20, 2021. His presidency was marked by controversy, polarization, and a series of unprecedented events that continue to shape the country's politics and society.
Early Life and Career
Donald John Trump was born on June 14, 1946, in Queens, New York, to Mary Anne MacLeod and Frederick Christ Trump. He was the fourth of five children in a middle-class family. Trump graduated from the University of Pennsylvania in 1968 with a degree in economics. After college, he joined his father's real estate company, Elizabeth Trump & Son, which later became part of the Trump Organization.
In the 1970s and 1980s, Trump built a reputation as a successful businessman, builder, and developer. He took the family business public in 1992, listing it on the New York Stock Exchange (NYSE) under the ticker symbol TRMP. However, he eventually sold his shares back to the company for $64 million in 2001.
Rise to National Prominence
Trump's entry into national politics began with his first presidential campaign in 2015-2016. He announced his candidacy on June 16, 2015, and quickly gained attention for his unconventional style and populist messages. Despite initial skepticism from many Republicans, Trump won the Republican nomination at the 2016 party convention.
On November 8, 2016, Trump won the presidential election, defeating Democratic candidate Hillary Clinton in a surprise upset. He became the first businessman to be elected President of the United States.
Inauguration and Early Presidency (2017-2018)
Trump was inaugurated as President on January 20, 2017, with Vice President Mike Pence by his side. His inaugural address emphasized themes of nationalism, populism, and a "America First" policy.
During his early presidency, Trump focused on several key issues:
- Immigration: Trump pursued an aggressive deportation agenda, targeting immigrants with "removable" status. He also signed an executive order restricting travel from several Muslim-majority countries.
- Healthcare: Trump attempted to repeal and replace the Affordable Care Act (ACA), but ultimately failed due to opposition from Congress and the judiciary.
- Trade Policy: Trump implemented tariffs on imported goods, particularly from China and Mexico, in an effort to protect American industries.
Controversies and Scandals
Trump's presidency was marred by numerous controversies and scandals:
- Russia Investigation: In 2017, special counsel Robert Mueller launched an investigation into Russian interference in the 2016 election. The probe ultimately found that Trump's campaign colluded with Russia and that the President had obstructed justice.
- Stormy Daniels Scandal: In 2018, adult film actress Stormy Daniels revealed that she had been paid hush money by a Trump Organization lawyer to keep quiet about an alleged affair with Trump in 2006. The scandal led to numerous lawsuits and investigations.
- Ukraine Scandal: In 2019, Trump was accused of pressuring Ukrainian President Volodymyr Zelensky to investigate Joe Biden, a potential Democratic presidential candidate.
Cabinet Appointments and Judicial Nominees
Trump appointed numerous high-profile officials to his cabinet and judiciary:
- Attorney General Jeff Sessions: A longtime Republican ally, who resigned in 2018.
- Defense Secretary James Mattis: A decorated military general who resigned in 2018.
- Supreme Court Justices Neil Gorsuch and Brett Kavanaugh: Both were appointed by Trump and confirmed by the Senate.
Policy Achievements
Despite controversy, Trump's presidency saw several notable policy achievements:
- Tax Cuts and Jobs Act: Signed into law in December 2017, this tax reform aimed to stimulate economic growth.
- First Step Act: A bipartisan bill passed in 2018, which reformed the federal prison system.
- Regulatory Rollbacks: Trump's administration rolled back numerous regulations across various industries.
Economic Performance
Trump's presidency saw significant economic growth:
- GDP Growth: The US economy experienced a period of sustained growth, with GDP increasing by over 3% in 2018 and 2019.
- Job Market: Unemployment rates declined to historic lows, particularly among African Americans and Hispanics.
Retirement from Office
Trump announced his intention to run for re-election in 2020. However, the COVID-19 pandemic intervened, and Trump lost the election to Joe Biden on November 3, 2020. On January 20, 2021, Trump transferred power to President-elect Biden.
Legacy
Donald Trump's presidency left an indelible mark on American politics and society:
- Polarization: Trump's divisive rhetoric and actions contributed to increased polarization along partisan lines.
- Constitutional Implications: The Mueller investigation and other controversies raised questions about the Constitution's role in preventing executive overreach.
- Global Relations: Trump's approach to international relations, including trade wars and diplomatic tensions, will be remembered for years to come.
As Trump departed office, he left behind a complex legacy that continues to shape American politics.