Trump claimed that he gave Biden the present economic system, which is a complete lie, in a collection of many falsehoods on the ex-president’s Wisconsin rally.
Trump stated, “Joe Biden inherited the quickest and strongest financial restoration in historical past, I gave him the
biggest financial restoration in historical past, it’s known as bounce again, we have been set. We now have the best economic system ever within the historical past of the world. COVID got here in and we did an unbelievable job and by the point we ended, we gave him the best bounce again anyone has ever had. Guess what, he blew it to shreds and that’s the place we’re proper now.”
Video:
Trump tries to take credit score for Biden’s economic system, “Joe Biden inherited the quickest and strongest financial restoration in historical past; I gave him the best financial restoration in historical past; it is known as bounce again, and we have been set.” pic.twitter.com/4JdkShCKWW
— Sarah Reese Jones (@PoliticusSarah) June 18, 2024
Trump is attempting to steal the credit score for Biden’s economic system, however listed here are the details from FactCheck.org:
The variety of People employed in December was 142 million, or 3 million fewer than when Donald Trump turned president and 9.8 million under the pre-recession peak in February.
The unemployment fee stood at 6.7% final month — properly above the historic norm of 5.6%, which is the median fee for all months since 1948.
Even earlier than the recession, progress was comparatively modest — actual (inflation-adjusted) gross home product grew 2.2% in 2019, in keeping with the Bureau of Financial Evaluation, down from 3.0% the yr earlier than, which was the perfect yr of Trump’s tenure.
However final yr’s GDP was nearly definitely adverse, wiping out all or almost the entire earlier yr’s progress.
Members of the Federal Reserve Board and Federal Reserve Financial institution presidents consider the economic system shrank in 2020. Their median forecast, issued Dec. 16, was for a 2.4% decline relative to 2019, with estimates starting from minus 1.0% to minus 3.3%. The greater than 60 personal sector economists surveyed by the Wall Road Journal this month put the 2020 decline on common at 2.5%.
Trump left Biden with a rustic that was nonetheless coping with COVID, and an economic system that had already been slowing and heading for a recession. In brief, Trump left Biden a dumpster hearth. The Biden administration turned the economic system round, and now Donald Trump has returned and expects that he ought to be given the credit score for Biden fixing what he so badly screwed up.
Donald Trump did the identical factor in 2016 when he tried to take credit score for former president Obama’s accomplishments.
Trump can’t run on his actual report, so he has to run on the accomplishments of others.
Biden must personal and inform the story of his economic system, earlier than Donald Trump takes it for his personal,.
