speech, a Wisconsin relative texted “Wasn’t Trump great?” Memories are short, fact checking is important. Just a few points, Fact check rest of speech, Factcheck.org. All information is before the Coronavirus. Economy: Best growth in recent history was mid-2000’s (GW Bush) at over 3%, and well over 4% from 1997 – 2000 (Clinton.) Trump has just less than 2.5% growth average per year, which is slightly greater than Obama’s 2.2% average. Trump spearheaded a $1.5 Trillion tax cut, mostly to Corporations and top 1%, and spending increases to achieve a pace of 2.9% in 2018, same pace reached in 2015 under Obama with no corporate tax giveaways. Trump’s tax cuts have resulted in largest budget deficits in history during a strong economy and low unemployment. Yet Trump has cut critical government agencies and their budgets, State Department, Centers for Disease Control and Prevention (CDC), and others, leaving the U.S. unprepared for crisis. Obama inherited the Great Recession, which took time to turn reverse. Obama effectively handled Ebola crisis. Obama spearheaded an economic stimulus, credited worldwide with digging the US out of recession and setting up the largest economic expansion period in U.S. history.
Investment by foreign companies has slumped under Trump. Foreign companies directly invested $268 billion into the U.S. economy in 2018, a decrease of $220 billion from its record-breaking level in 2016 when Obama was still president. Since Trump took office, 35 months ago, 6.2 million jobs were created. Last 35 months of Obama administration there were 8 million jobs added.
Unemployment: 50-year low of 3.5%, but proportion of Americans with a job was higher in the late 1990’s (Clinton) and without corporate tax breaks. The final 35 months under Obama, unemployment rate fell from 6.7% to 4.7%, a 2% drop. Unemployment rate was 4.7% when Trump took office, so declined by 1.2%. Wages have increased under Trump, partly due to low unemployment and competition for workers. Also many Democratic run cities and some states have increased the minimum wage.
US trade deficit in goods increased 18% during Trump’s first 2 years, indicating more manufacturing jobs left the U.S. than came back. Wisconsin, Michigan, Ohio, and Pennsylvania have lost manufacturing jobs. Farm bankruptcies skyrocketed and farm debt is greater than during the Great Recession. Before this week, stock market increased greater percentages under Clinton and Obama in same 35 months in office than Trump.
(previous area resident)