Quote:
Originally Posted by HedonistForever
Just tell yourself you sacrificed your job, perhaps your families future to save us from a President that pre- Covid, presided over the best economy in 50 years and the ability to be energy independent and free from OPEC. Maybe that will help you sleep better at night. I'm betting it won't.
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You're either a God damn liar or an silly ass parrot repeating that nonsense about it being the best economy in 50 years.
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Donald Trump
stated on September 29, 2020 in the first presidential debate:
Before the coronavirus pandemic, the United States had “the greatest economy in the history of our country.”
true false
ECONOMY JOBS DONALD TRUMP
Trucks haul shipping containers at a terminal on Harbor Island in Seattle in 2019. (AP) Trucks haul shipping containers at a terminal on Harbor Island in Seattle in 2019. (AP)
Trucks haul shipping containers at a terminal on Harbor Island in Seattle in 2019. (AP)
Louis Jacobson
By Louis Jacobson
October 1, 2020
Donald Trump’s dubious statement about presiding over ‘the greatest economy’ in history
IF YOUR TIME IS SHORT
• While unemployment was near historical lows under Trump, growth in gross domestic product was well below what previous presidents achieved, and other metrics such as wages and business investment ranged from decent to mediocre.
See the sources for this fact-check
During the first presidential debate in Cleveland, President Donald Trump repeated an assertion he’s made literally dozens of times.
When the novel coronavirus appeared, Trump said, "I had to close the greatest economy in the history of our country."
The U.S. economy prior to the coronavirus was strong. But it was not the best in the nation’s history, economists say.
The strongest evidence for Trump is the unemployment rate. On Trump’s watch, the unemployment rate plunged to levels that it hasn’t touched since the early 1950s. It appears to be the lowest peacetime unemployment rate over a three-year period, going back to the Great Depression, said Gary Burtless, an economist with the Brookings Institution.
Trump benefited from the continuation of trends that had been in place under the Obama recovery.
"While Trump can take some credit, I see it like the relief pitcher who comes in during the 9th inning with a seven-run lead, then boasts about winning the game," said Dean Baker, co-founder of the liberal Center for Economic and Policy Research. "It’s fine to get some credit for holding the lead, but this is much more an Obama story than a Trump story."
Growth in the nation’s gross domestic product — probably the single most important statistic used to gauge the overall strength of the economy — has been so-so on Trump’s watch. It didn’t reach his pledge of 4% growth a year, earning it a Promise Broken.
The annual increases in GDP under Trump were broadly similar to what they were during the final six years under his predecessor, Barack Obama. And GDP growth under Trump was well below that of prior presidents.
If you adjust GDP to take account of population, the picture remains weak for Trump. Calculations by Burtless found that inflation-adjusted GDP per capita increased 1.9% annually under Trump, which makes this three-year period the 16th highest among the past 30 non-overlapping three-year periods — right about average compared with his predecessors.
Economists added a couple other factors that cast doubt on the supremacy of the economy under Trump.
Labor unions lash out over job killing energy policies
