trump claims he “created the best economy in the history of the world.” that is total bull shit. he created nothing. He rode Obama& #39;s coat tails then turned Obama’s economy into a “smoke & mirrors” economy. this thread lays out the counterargument to his ridiculous claims
1/13
he has had a negative impact on the economy since 2015. this chart shows he disrupted a steady 8 yearlong trend of lower unemployment numbers when it looked like he would be the nominee. we were heading for record lows and should have hit them a year sooner than we did.
2/13
other charts show he had little impact on what was Obama& #39;s very strong economy & Obama outperformed trump by nearly every measure.
his tax cuts went into effect 2017. they promised:
-$4000 tax break for everyone
-Rocket fuel for the economy
-it would pay for itself
3/13
Remember when trump said, “trade wars are good and easy to win?” well here we are 2 years later, and we aren’t winning any trade wars. Farmers have lost most of their profits from China, thousands upon thousands have gone bankrupt and
6/13
In addition, the incredible amount of debt he has needlessly heaped on us, he pushed the deficit to over $1 trillion. as with the trillions in additional debt, in a “booming” economy a $1 trillion deficit shouldn’t be necessary
8/13 https://theweek.com/articles/889337/paradox-trumps-trilliondollar-deficit">https://theweek.com/articles/...
He promised “4%, 5% even 6% GDP” yes, he actually said that. prior to covid hitting he averaged 2.5% and again, by nearly every measure was outperformed by Obama
9/13 #5bb1c62b4fed">https://www.forbes.com/sites/chuckjones/2020/02/01/trumps-economic-growth-is-slower-than-obamas-last-3-years/ #5bb1c62b4fed">https://www.forbes.com/sites/chu...
it probably should have stayed there. There has been no real news or progress on any front that justifies the dow making it all the way back up to 129,000 a few days ago. I suspect as things continue to unravel as they are doing, this bubble will burst
12/13
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