Trump was actually the worst jobs president since Herbert Hoover, and was responsible for two-thirds of the massive pandemic stimulus that caused inflation.
S.V. Date | HuffPost
Republicans Kick Off Convention Pushing Myth Of Trump’s ‘Best Ever’ Economy
Trump was actually the worst jobs president since Herbert Hoover, and was responsible for two-thirds of the massive pandemic stimulus that caused inflation.www.huffpost.com
The talking points began within months of Democrat Joe Biden moving into the White House — and remain as untrue now as they were then.
But even discounting the pandemic year, Trump’s economy had lower GDP growth and fewer new jobs in his first three years in office than predecessor Barack Obama’s final three years. Republicans, including Trump, disparaged those years as an economic disaster.
On inflation, many economists believe that the high inflation rates of 2022 and 2023 — and subsequent high interest rates by the Federal Reserve — were caused by the $5.7 trillion in COVID stimulus spending designed to keep the economy from collapsing into depression. If they are correct, it follows that two-thirds of the responsibility for inflation logically belongs to Trump, under whose watch two-thirds of the spending took place.
And while it’s true gasoline prices collapsed in Trump’s final year, that was because so many Americans lost their jobs in 2020 and so many businesses had closed that the demand for gas plummeted. Prior to the pandemic, gasoline prices were on average higher in 2017, 2018 and 2019 than they were in Obama’s final year, 2016.
While inflation is falling and manufacturing is booming under President Biden, economists are warning that a second Trump term will set off an ‘inflation bomb’ and raise middle class families’ costs by $2,600 a year
Don't believe this because it came from the Huffington Post? Basically the same thing Bill Maher, Chris Christie, Nikki and Ron D said.
Trump was actually the worst jobs president since Herbert Hoover, and was responsible for two-thirds of the massive pandemic stimulus that caused inflation.
S.V. Date | HuffPost
Republicans Kick Off Convention Pushing Myth Of Trump’s ‘Best Ever’ Economy
Trump was actually the worst jobs president since Herbert Hoover, and was responsible for two-thirds of the massive pandemic stimulus that caused inflation.
The talking points began within months of Democrat Joe Biden moving into the White House — and remain as untrue now as they were then.
But even discounting the pandemic year, Trump’s economy had lower GDP growth and fewer new jobs in his first three years in office than predecessor Barack Obama’s final three years. Republicans, including Trump, disparaged those years as an economic disaster.
On inflation, many economists believe that the high inflation rates of 2022 and 2023 — and subsequent high interest rates by the Federal Reserve — were caused by the $5.7 trillion in COVID stimulus spending designed to keep the economy from collapsing into depression. If they are correct, it follows that two-thirds of the responsibility for inflation logically belongs to Trump, under whose watch two-thirds of the spending took place.
And while it’s true gasoline prices collapsed in Trump’s final year, that was because so many Americans lost their jobs in 2020 and so many businesses had closed that the demand for gas plummeted. Prior to the pandemic, gasoline prices were on average higher in 2017, 2018 and 2019 than they were in Obama’s final year, 2016.
While inflation is falling and manufacturing is booming under President Biden, economists are warning that a second Trump term will set off an ‘inflation bomb’ and raise middle class families’ costs by $2,600 a year
Don't believe this because it came from the Huffington Post? Basically the same thing Bill Maher, Chris Christie, Nikki and Ron D said.
