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...ECONOMY
TRUMP: "We have the greatest economy in the world." " remarks Wednesday.
TRUMP: "We also built the greatest economy in the history of the world." " address Tuesday.
THE FACTS: No, the numbers show it wasn't the greatest in U.S. history. And he is the first president since Herbert Hoover in the Depression to leave office with fewer jobs than when he started.
Did the U.S. have the most jobs on record before the pandemic? Sure, the population had grown. The 3.5% unemployment rate before the recession was at a half-century low, but the percentage of people working or searching for jobs was still below a 2000 peak.
Nobel Prize-winning economist Paul Romer looked at Trump's economic growth record. Growth under Trump averaged 2.48% annually before the pandemic, only slightly better than the 2.41% gains achieved during Obama's second term. By contrast, the economic expansion that began in 1982 during Reagan's presidency averaged 4.2% a year.
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TRUMP, on the economy after the pandemic: "It's a rocket ship up." " remarks Wednesday.
THE FACTS: Not so.
There's been no dramatic, V-shaped economic recovery under Trump. Employers cut jobs during his final December in office. But economists say the additional aid approved in December and the prospect of more from Biden could cause the strongest growth this year in more than two decades.
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TRUMP: "We reignited America's job creation and achieved record-low unemployment for African Americans, Hispanic Americans, Asian Americans, women " almost everyone." " address Tuesday.
THE FACTS: Not an ignition. Job creation actually slowed in 2017, Trump's first year in office, to about 2 million, compared with nearly 2.5 million in 2016, Obama's last year in office.
The low unemployment rates refer to a pre-pandemic economy that is no more. The pandemic has cost the U.S. economy 10 million jobs and has made Trump the first president since Hoover to oversee a net loss of jobs. The U.S. has about 2.8 million fewer jobs now than when Trump was inaugurated, and lost 140,000 just in December. And the job losses have fallen disproportionately on Black Americans, Hispanics and women. ...
And so the article goes on, documenting his the lies in his farewell speech.
... and on, and on, and on.
Prevaricating to his last hours in office.
