- Mar 11, 2015
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Trump has lied over 10,000 times. Now to his credit, Trump is very good at the big lie. You know, the one Goebbels describes:
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
Trump does this all the time. His claims about the economy is a prime example.
Forget His Boasts; Growth Is Just Average and Well Behind Reagan, Clinton, Even Carter
Donald Trump keeps boasting about what a great economy he should get credited for creating. But his administration’s own reports don’t support his claims, which also don’t come close to what he promised voters.
His results so far have been, well, just average.
As if it were a stellar achievement, Trump boasted last week, the economy grew at an annual rate of 3.2% in the first three months of this year. Big deal. That’s precisely the average since 1947.
Candidate Trump boasted many times that he would boost economic growth. In October 2015, he said: “I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.”
So far, the best he has done is 4.2% in the second quarter of 2018.
Obama’s quarterly economic growth rate beat Trump’s best four times, George W. Bush five times, Bill Clinton and Ronald Reagan 13 times each. One-term president Jimmy Carter beat Trump six times and one-termer George H. W. Bush did it five times.
Carter’s best, by the way, was 16.4% growth, four times Trump’s best so far.
Trump’s last budget is projected to run a deficit almost 1.5 times the size of Obama’s last budget deficit according to the Trump administration’s own data, known as Historical Table 1.3.
Trump’s average annual budget deficit over four years will be the worst of any president from Carter through George W. Bush.
The average Trump shortfall will be 4.6% of the economy.
Obama’s was about the same as Trump at 5% of the economy, mostly because of the Great Recession that he inherited. In his second term, Obama’s budget shortfall was less than 2.5% of the economy.
The cost to you of Trump’s borrow-and-spend approach? Instead of retiring the federal debt in eight years, as Trump told voters he could easily do because he was “the king of debt,” the federal debt is growing at the rate of $30 per day for a family of four. That’s almost $11,000 per year for that family.
Trump’s borrow-and-spend, however, has failed to stimulate faster jobs creation.
Under Trump, job growth is slower than under Obama. Trump’s average is 198,000 more jobs per month. That’s good, but far from great.
Obama, during his last six years and a month, averaged 204,000 more jobs each month.
Trump promised if elected the nation would add 25 million new jobs in 10 years. He’s on track to fall more than a million jobs short of that goal.
That goal was nothing to brag about, either. Before Trump started making campaign promises the projections of future job growth were about what Trump sold as a miracle waiting for him to make it happen.
The reality is that Trump’s economic performance, measured by his own administration, is merely average.
Why Trump Gets a 'C' on the Economy | DCReport.org
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
Trump does this all the time. His claims about the economy is a prime example.
Forget His Boasts; Growth Is Just Average and Well Behind Reagan, Clinton, Even Carter
Donald Trump keeps boasting about what a great economy he should get credited for creating. But his administration’s own reports don’t support his claims, which also don’t come close to what he promised voters.
His results so far have been, well, just average.
As if it were a stellar achievement, Trump boasted last week, the economy grew at an annual rate of 3.2% in the first three months of this year. Big deal. That’s precisely the average since 1947.
Candidate Trump boasted many times that he would boost economic growth. In October 2015, he said: “I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.”
So far, the best he has done is 4.2% in the second quarter of 2018.
Obama’s quarterly economic growth rate beat Trump’s best four times, George W. Bush five times, Bill Clinton and Ronald Reagan 13 times each. One-term president Jimmy Carter beat Trump six times and one-termer George H. W. Bush did it five times.
Carter’s best, by the way, was 16.4% growth, four times Trump’s best so far.
Trump’s last budget is projected to run a deficit almost 1.5 times the size of Obama’s last budget deficit according to the Trump administration’s own data, known as Historical Table 1.3.
Trump’s average annual budget deficit over four years will be the worst of any president from Carter through George W. Bush.
The average Trump shortfall will be 4.6% of the economy.
Obama’s was about the same as Trump at 5% of the economy, mostly because of the Great Recession that he inherited. In his second term, Obama’s budget shortfall was less than 2.5% of the economy.
The cost to you of Trump’s borrow-and-spend approach? Instead of retiring the federal debt in eight years, as Trump told voters he could easily do because he was “the king of debt,” the federal debt is growing at the rate of $30 per day for a family of four. That’s almost $11,000 per year for that family.
Trump’s borrow-and-spend, however, has failed to stimulate faster jobs creation.
Under Trump, job growth is slower than under Obama. Trump’s average is 198,000 more jobs per month. That’s good, but far from great.
Obama, during his last six years and a month, averaged 204,000 more jobs each month.
Trump promised if elected the nation would add 25 million new jobs in 10 years. He’s on track to fall more than a million jobs short of that goal.
That goal was nothing to brag about, either. Before Trump started making campaign promises the projections of future job growth were about what Trump sold as a miracle waiting for him to make it happen.
The reality is that Trump’s economic performance, measured by his own administration, is merely average.
Why Trump Gets a 'C' on the Economy | DCReport.org
Rubbing salt in that wound just never gets old 
