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Before his colossal failures with COVID-19, Donny Trump used to brag about the economy & much of the media went along for the ride. However, was the economy really that good before the #TrumpDepression hit? Let’s look at the facts:
1/12
#wtpTEAM
#wtp2020
@wtp__2020
Before his colossal failures with COVID-19, Donny Trump used to brag about the economy & much of the media went along for the ride. However, was the economy really that good before the #TrumpDepression hit? Let’s look at the facts:
1/12
#wtpTEAM
#wtp2020
@wtp__2020
First, Trump’s own words condemn him on the pre-COVID economy here where he CUT the pay of federal workers citing serious economic conditions. If the economy was great, why the wage cuts?
https://slate.com/news-and-politics/2020/02/trump-cuts-scheduled-federal-pay-raise-serious-economic-conditions.html
2/12">https://slate.com/news-and-...
https://slate.com/news-and-politics/2020/02/trump-cuts-scheduled-federal-pay-raise-serious-economic-conditions.html
2/12">https://slate.com/news-and-...
Second, Donny promised to be a great JOBS president. However, his job numbers over his first 3 years in office trail Obama’s last 3 years. He also trails any 3 year period of Clinton & the last several years of Reagan & Carter He did do better than both Bushes.
Grade: C-
3/12
Grade: C-
3/12
Addendum to that – 2019 was the worst year for layoffs in decades & those that did manage to find new jobs often suffered BIG pay cuts.
https://markets.businessinsider.com/news/stocks/2019-was-one-of-decades-worst-years-layoffs-job-cuts-2020-1-1028791832
4/12">https://markets.businessinsider.com/news/stoc...
https://markets.businessinsider.com/news/stocks/2019-was-one-of-decades-worst-years-layoffs-job-cuts-2020-1-1028791832
4/12">https://markets.businessinsider.com/news/stoc...
3rd, Donny promised 4% GDP growt & also said 5-6% was possible. His first 3 years in office have given us 2.4, 2.9 & 2.3%.
Maybe Trump thinks 2 is higher than 4, 5 & 6, but math says NO. Both Bushes, Clinton, Reagan & Carter all had years with over 3% growth.
Grade: D
5/12
Maybe Trump thinks 2 is higher than 4, 5 & 6, but math says NO. Both Bushes, Clinton, Reagan & Carter all had years with over 3% growth.
Grade: D
5/12
Fourth – wage growth. Donny bragged about a mythical “blue collar boom” early this year & late last year. However, the facts show otherwise. Blue collar wages were up an avg of 2% per year in Obama’s last term, but it was just 0.8% for Donny in 2019 and in prior years…
6/12
6/12
…In prior years 2017-2018, blue collar wage increases were entirely due to Democratic initiatives at the state and local levels to raise the minimum wage. Red states mostly saw decreased wages for blue collar workers.
Grade: D
7/12 https://www.epi.org/blog/trumps-blue-collar-boom-state-of-the-union/">https://www.epi.org/blog/trum...
Grade: D
7/12 https://www.epi.org/blog/trumps-blue-collar-boom-state-of-the-union/">https://www.epi.org/blog/trum...
4th, deficits. The king of debt promised to pay off the debt in 8 years. However, even before the Trump COVID-19 collapse, the budget debt & deficit were skyrocketing due to the #TrumpRyanTaxScam: averaging out at over $1 trillion/year in a "good" economy.
Grade: F
8/12
Grade: F
8/12
Fifth, Donny’s trade wars. Donny increased tariffs on products from allies & had a trade war with China.
Even before 2020, our trade deficits had skyrocketed an average of over 20%/year with Trump & we lost over 300K jobs due to Donny losing his Trade War.
Grade: F
9/12
Even before 2020, our trade deficits had skyrocketed an average of over 20%/year with Trump & we lost over 300K jobs due to Donny losing his Trade War.
Grade: F
9/12
Sixth, Donny was supposed to revive the manufacturing industry. However, the last half of 2019 saw US manufacturing mired in a deep recession while Donny was failing in his trade wars.
Grade: D
10/12 https://markets.businessinsider.com/news/stocks/the-manufacturing-sector-just-fell-deeper-into-recession-ism-pmi-2019-12-1028730787#">https://markets.businessinsider.com/news/stoc...
Grade: D
10/12 https://markets.businessinsider.com/news/stocks/the-manufacturing-sector-just-fell-deeper-into-recession-ism-pmi-2019-12-1028730787#">https://markets.businessinsider.com/news/stoc...
So, overall, the Trump economic record was NOT a good one. Low unemployment prior to 2020 was mostly achieved under Obama. The up stock market mostly benefited the richest Americans because they had made big gains under the #TrumpRyanTaxScam
Overall Pre-Covid Grade: D+
11/12
Overall Pre-Covid Grade: D+
11/12
As you can see, just like Donny himself, the actual examination of the facts behind the bragging reveals them to be more #TrumpLies and Smoke & Mirriors – it’s too bad he was not called out on it often enough.
#TrumpEconomySucks
12/12
#TrumpEconomySucks
12/12
