Trump's fraud economy: Watch Fox News? You likely think the U.S. economy is great. MSNBC viewers not

[Denizen]

It is ridiculous to believe the economy is "the best ever" as Trump frequently boasts.

The truth and facts are very different. GDP is increasing by ~2% while the budget deficit and is ~5% of GDP and Federal Debt is increasing around 5%.

The Trump economy is a bogus bubble fueled by burgeoning debt.

“On an inflation-adjusted basis, Americans families are earning just 2.7% more than they did in 1999, when median household income stood at $61,526, or 2007, when the median household income was about $61,000,”

How could anyone believe the Trump economy is the best ever?

https://www.washingtonpost.com/news...his-cabinet-meeting/5dae163088e0fa5ad928d981/

The Finance 202: Here's how Trump inflated his economic record at his Cabinet meeting

By Tory Newmyer
October 22

President Trump told some whoppers over the course of a 71-minute Cabinet meeting that turned into a live-streaming, rambling self-defense. (CNN counted 20 false claims.) Several of Trump's claims were distortions of his economic record — and probably will help form the spine of his reelection pitch in 2020.

So, some fact-checking is in order:

1. On the rise of median household income.

Trump opened the session by pointing to a jump in median household income he says far outstrips that of his two most recent predecessors.

“I don’t know if anybody saw, the household median income, for eight years of President Bush, it rose $800. For eight years of President Obama, it rose $975,” Trump said. “And for two and a half years of President Trump — they have it down as 2.5 years — it rose $5,000, not including $2,000 for taxes. So it rose let’s say $7,000. So in two and a half years we’re up $7,000, compared to $1,000, compared to $400. And that’s for eight years and eight years. That’s a number that just came out, but that’s a number that I don’t know how there can be any dispute. I’ve never heard of a number like that. Meaning that the economy is doing fantastically well.” (See the entire meeting here.)

It’s true that in nominal terms, median household income is hitting new highs, topping $63,000 last year in a first, according to Census Bureau figures. But that mark comes with two important qualifications. First, after adjusting for inflation, the number has barely budged in the past 20 years. “On an inflation-adjusted basis, Americans families are earning just 2.7% more than they did in 1999, when median household income stood at $61,526, or 2007, when the median household income was about $61,000,” per CBS News’s Aimee Picchi.

 

[gipper]

The right said the exact same things about Obama’s economy.

Round and round we go, yet many Americans can see the purposeful deception.