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The Trump economy
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Quote:But Trump, Firey stresses, is greatly exaggerating the role he played in the country’s economic recovery from the Great Recession. And the Bulwark contributor makes his point not by quoting a liberal economist such as Paul Krugman or Robert Reich, but by noting what economist Pierre Lemieux had to say in Regulation — the policy journal of the Cato Institute, a right-wing libertarian think tank. U.S. unemployment, Firey notes, “was nearing historic lows in 2019, a remarkable change from the 10% it reached in October 2009, four months after the end of the Great Recession. From that point in October 2009, the unemployment rate declined steadily, first under the final seven years of the Obama Administration — falling to 4.7% in December 2016 — and then falling to 3.5% under Trump in late 2019.” 

Firey’s article is an example of a piece that was written for a right-wing website and draws on analysis for a right-wing libertarian think tank to reach its conclusion. Another thing Lemieux’s analysis shows, according to Firey, is that Trump has increased the United States’ federal deficit from what it was under Obama. “The data show that the economy more or less followed the same course in the first three years of Trump’s administration that it did over the last seven years of the Obama Administration,” Firey asserts. “Second, Trump’s administration rang up trillions of dollars in new government debt even before it began spending to fight the effects of COVID-19. That’s his actual record. He should own it.”
Trump’s claims on the US economy are wildly exaggerated: conservative – Alternet.org
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