Blisterfinger
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- May 15, 2021
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Why are your government experts always so wrong?
Trump inherited a booming economy — and handed Biden a nation 'in shambles'
“If you're the average person, do you care if GDP was 3.2 or 3.4 percent? No, you care if you have a job,” said one economist.www.nbcnews.com
Trump says he built a great economy. Numbers tell a different story.
The average quarterly economic growth under Trump, 2.5 percent, was almost exactly what it was under Obama in the second term, 2.4 percent.
No, the economy didn't suddenly get strong under Donald Trump
One of the biggest themes of President Donald Trump’s State of the Union address — and one of the biggest themes of his reelection campaign — is that he inherited a weak economy from President Barack Obama and turned it into a strong economy by implementing his own policies.
"The years of economic decay are over," he told the joint session of Congress on Feb. 4, 2020. "The days of our country being used, taken advantage of, and even scorned by other nations are long behind us. Gone, too, are the broken promises, jobless recoveries, tired platitudes and constant excuses for the depletion of American wealth, power and prestige."
Trump added, "If we hadn’t reversed the failed economic policies of the previous administration, the world would not now be witnessing this great economic success."
When we reached out to the Trump campaign, they offered several statistics showing Trump has notched greater gains than Obama did, such as manufacturing job creation, the unemployment rate, and economic growth. We found those statistics, and other specific facts Trump cited during the State of the Union, were accurate, or largely so.
However, unlike Obama, who inherited the Great Recession, Trump inherited an economy that was already getting back on its feet. Overall, we found a continuation of the favorable trend lines Trump inherited from Obama.
We looked at 15 common economic statistics, from unemployment rates to growth in gross domestic product to poverty, foreclosures, and bank failures.
They cover the period of the Great Recession until today. Where possible, we’ve highlighted periods under a Republican president in red and periods under a Democratic president in blue.
The bottom line: For virtually each of these measurements, we found that the trend lines continued almost seamlessly from the second half of Obama’s presidency into the first three years of Trump’s tenure. Trump’s claim that he turned around a failing economy is wrong.
No, the economy didn't suddenly get strong under Trump
One of the biggest themes of President Donald Trump’s State of the Union address — and one of the biggest themes of hiswww.politifact.com
Why are your government experts always so wrong? Especially skewed to the left for the gullibleTrump inherited a booming economy — and handed Biden a nation 'in shambles'
“If you're the average person, do you care if GDP was 3.2 or 3.4 percent? No, you care if you have a job,” said one economist.Trump says he built a great economy. Numbers tell a different story.
The average quarterly economic growth under Trump, 2.5 percent, was almost exactly what it was under Obama in the second term, 2.4 percent.
No, the economy didn't suddenly get strong under Donald Trump
One of the biggest themes of President Donald Trump’s State of the Union address — and one of the biggest themes of his reelection campaign — is that he inherited a weak economy from President Barack Obama and turned it into a strong economy by implementing his own policies.
"The years of economic decay are over," he told the joint session of Congress on Feb. 4, 2020. "The days of our country being used, taken advantage of, and even scorned by other nations are long behind us. Gone, too, are the broken promises, jobless recoveries, tired platitudes and constant excuses for the depletion of American wealth, power and prestige."
Trump added, "If we hadn’t reversed the failed economic policies of the previous administration, the world would not now be witnessing this great economic success."
When we reached out to the Trump campaign, they offered several statistics showing Trump has notched greater gains than Obama did, such as manufacturing job creation, the unemployment rate, and economic growth. We found those statistics, and other specific facts Trump cited during the State of the Union, were accurate, or largely so.
However, unlike Obama, who inherited the Great Recession, Trump inherited an economy that was already getting back on its feet. Overall, we found a continuation of the favorable trend lines Trump inherited from Obama.
We looked at 15 common economic statistics, from unemployment rates to growth in gross domestic product to poverty, foreclosures, and bank failures.
They cover the period of the Great Recession until today. Where possible, we’ve highlighted periods under a Republican president in red and periods under a Democratic president in blue.
The bottom line: For virtually each of these measurements, we found that the trend lines continued almost seamlessly from the second half of Obama’s presidency into the first three years of Trump’s tenure. Trump’s claim that he turned around a failing economy is wrong.
No, the economy didn't suddenly get strong under Trump
One of the biggest themes of President Donald Trump’s State of the Union address — and one of the biggest themes of his
Despite CBO’s Predictions, Trump Tax Cuts Were a Boon for America’s Economy and Working Families | The U.S. House Committee on the Budget - House Budget Committee
The Official U.S. Congressional website of The Republican Budget Committee
budget.house.gov
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