It turns out that the economy never had a Trump bump. https://t.co/iBaekWcM0T pic.twitter.com/EsGtmBdtjk
— Slate (@Slate) February 9, 2020
Courtesy of Slate:
President Donald Trump has always exaggerated the strength of his jobs record, claiming to have brought about an unprecedented hiring boom when, in fact, payrolls have been growing at a somewhat slower pace than they had been during Barack Obama’s final years in office. But it turns out, the reality of it was even weaker than the official data let on.
On Friday, the Bureau of Labor Statistics released its latest batch of employment numbers, along with its annual benchmark revisions adjusting its estimates from prior months. Before, the government believed that the U.S. had added 223,000 jobs per month in 2018, the year that the GOP’s tax cuts and new, higher spending levels took effect. It has now lowered that estimate to 193,000 per month, a significant drop.
Here’s how this changes the story of the past few years. Based on the old numbers, it looked like Trump had inherited a steady economy but gave hiring a boost in 2018 through some deficit-fueled stimulus. Based on the new numbers, it looks like he inherited a steadily growing economy and didn’t do much at all. Trump’s deficits likely juiced employment growth a bit, while his trade war likely undercut it. (The Federal Reserve’s interest rate hikes probably muted growth in 2018 a bit too.) In the end, the economy has added fewer jobs in every year of his presidency than it did during Obama’s final one. There never was much of a Trump bump.
With today’s benchmark revision, there was still a modest increase in payroll growth in 2018 over 2017. The 2019 average was essentially unchanged. Job growth has been remarkably steady for the past four years. pic.twitter.com/I44FdiLTVp
— Jed Kolko (@JedKolko) February 7, 2020
This is quite literally all that Trump is running on. The economic success of President Obama that he has done nothing to improve.
The fact that he gets credit for this burns my ass everytime I hear it.
If the Obama economy is really that important to the American people then they really only have two choices to either maintain it or improve it.
One is to elect Joe Biden who was with Obama every day that he was deveolping the strategy, and Elizabeth Warren who was one of the major intellects behind that strategy.
Actually I really think we should just cut out the middlemen and put Warren in charge.
I guarantee that everyday Americans will do better with her at the helm.
Major financial institutions on the other hand, not so much.
I’m still loving the Bloomberg ads. No one else has the money to do so yet, what does he care.
The former presidents one, spot ON. — Independent
It should be posted everywhere and repeated at every opportunity by Democrats just like the Republicans do when they want a message to sink in.
Nice try.
This economy is booming, and it is because of this White House.
Everybody and their families and family dog knows it.
Wait, you mean even their dogs are idiots?
Do you think it might be something in the water?
Keep lying to yourself Gryphen, it is working. for you lol.
Trump is going to win the next election because of you and people exactly like you.
And yes, the economy is frigging humming and everyone knows why.
You think they are going to give up gainful proud employment, healthcare and benefits to vote for a socialist?
But feel free to keep your head in your ass and whine every day that the sky is falling and Trump isn’t fair etc etc…. chicken little Gryphen. No one is listening anymore.
They are too busy working and enjoying their lives. The horror of that right?
What’s a packet of Kool Aid going for these days? Your soul?
LOL HA HA HA @ 12:04pm
the only thing trump knows about economics is how to BANKRUPT companies, who in the hell BANKRUPTS A CASINO, ONLY donald j trump is that stupid.
he is such a risk that the only people that will lend him money by laundering it through Deutch Bank, American banks won’t touch him, gosh they even stated he couldn’t pass Econ 101 if his life depended on it. that is why he has to lie about getting a MBA from Wharton School of Business.
so when it comes to the economy,luckily for us, no one has allowed him to go near it.
trump doesn’t create jobs either, CEOs of companies do, trump only FIRES people when his teeny tiny feelings get hurt, adding to the unemployment or prison because so many around him have been indicted and found guilty of so many crimes.
yeah ok der 9:46.
The state of the economy believes otherwise, but keep pretending to yourself if it makes you fee fee better.
Pez dispensers …. or are they “Heads on Pikes?” ☠️
My first thought as well. LOL
It has become so comical, one cannot help but go there.
Try to convince the public of that. It’s why Trump keeps harping about the economy and how well it’s doing under him. He tells the lie often until it becomes “fact” and anything to the contrary is “fake.” And the truth is many of those that believe the lie don’t own stock so how would they know if the stock market is doing well or not? They don’t own businesses and if they do, they know they aren’t doing well but assume it’s just them and everyone else is doing great so Trump must be right. Same with workers. They didn’t get a raise but other people must have. I’m paying more taxes but everyone else is paying less…..I guess.
Lies are the enemy of Democracy. There needs to be a successful strategy to expose and debunk the lies. The entire country need to be “deprogrammed” and brought down to reality. It needs to be hammered. So the first thing that needs to happen is to get the media on the side of right. Forget Facebook. MotherfuckerZucker is going to do whatever benefits him. So Facebook will have to be included in the lying propaganda column. Get the rest to start calling a lie a lie and realize that they’ll make more money and revenue but exposing Trump and the Republicans than playing along.
AA is the same dogma and propaganda.
Motion, change, and evolution is a threat to that which has been concretized, for it reveals the illusion, the “fake news”, of closed belief systems as having nothing to do with nature.
Let me guess. DUI and jail time vs. probation?
Asking for a friend.
Tell me it isn’t true, after all the troll here tells us everyday that trump’s economy is going to win him the election. LOL yep more LIES from trump supporters.
The Democrats should be drumming the message that the economy is thanks to Barack and improving healthcare instead of revamping the whole healthcare system.
Also need to REMIND voters that they past a RX bill and Moscow Mitch is stalling it in the senate.
Instead of fighting amongst themselves.
No. They should be asking them about those big fat raises in salary they were supposed to get from the tax cuts. And speaking of the tax cuts, how were your taxes this year? Did you pay MORE? Was your refund LESS?
Obama needs to have a special guest
appearance and moderate the next democratic debate. Teach them how to fight. That would bury Humpty Dumpty.
Show how to unify for your country.
https://www.rawstory.com/2020/02/elizabeth-warren-takes-hilarious-shot-at-mike-pence-for-being-trumps-lapdog/
https://www.rawstory.com/2020/02/president-barack-obamas-first-film-wins-best-documentary-oscar/
trump can’t even win a golf game without cheating, who would think he has done anything positive for the economy.