Trump's broken economic promises

So let's look at what Trump has claimed and what has actually happened, economically-speaking, during the first 2.5 years of his administration.

GDP
Trump criticized Obama for averaging 2.2% GDP growth, and promised to grow the economy by 4%. Instead, the economy has grown at about the same rate as it did under Obama, despite Trump ballooning the annual deficit in a bid to goose the economy.
https://fred.stlouisfed.org/series/GDPC1

National debt
Trump promised to eliminate the national debt in 8 years. Instead, he is adding $1 trillion to the deficit in order to fund yet another tax cut for the rich.
https://www.politifact.com/truth-o-.../promise/1418/eliminate-federal-debt-8-years/

Trade deficit
Trump promised to greatly reduce and even eliminate our trade deficits. Instead, they have gone up nearly 25%.
https://www.axios.com/trump-trade-deficit-world-china-6c0e421a-872d-4232-951c-511e0c785f68.html

Coal jobs
Trump promised to revive the coal industry. This was always a stupid promise, because coal is dying for larger economic reasons. And, predictably, Trump failed to deliver on this one, too. This year, coal hit 40-year lows in both consumption and production.
https://www.cbsnews.com/news/trump-says-coal-is-back-coal-consumption-just-hit-a-41-year-low/

Manufacturing
Trump promised to bring back manufacturing jobs. There was, in fact, a brief boom in manufacturing jobs right after he was elected. But that bump is gone now. In fact, manufacturing output FELL in the most recent quarter, thanks in part to Trump's tariffs. Indeed, manufacturing is in a recession right now.
https://www.cnbc.com/2019/06/11/that-big-trump-bump-in-manufacturing-is-pretty-much-gone-now.html
https://www.bloomberg.com/news/arti...uring-contracts-for-first-time-in-three-years

Oil production
Trump promised to greatly increase domestic oil production. And indeed, the United States became the largest oil producer in the world in 2018. But as with GDP, the increase in U.S. production simply continues a trend that began 10 years ago, driven largely by the development of fracking technology. There is no evidence that Trump has increased that growth rate, and no significant changes he has made that would explain such an increase even if there were one.
https://www.npr.org/2019/08/13/7505...-celebrates-began-years-before-he-took-office

Tell me again why anyone should believe a word Trump says? He takes credit for pre-existing trends, and where there have been changes, they typically go in the OPPOSITE direction of what he promised.

 

Trump is a mental retard. The longer he's in the White House the longer it's going to take to correct all his blunders.

 

Not everyone cares about his fallacious rhetoric, because the economy seems good. Whether it is or not makes little difference to his myrmidons.

“Attitudes are more important than facts”
Karl Menninger

 

Well, I feel like promising one thing and doing the opposite is a bit more than just "fallacious rhetoric", but I see your point.

It also suggests that his support is shallow, and will weaken significantly if the economy starts to struggle. It will then become clear that the emperor has no clothes.

 

Is it really the "opposite" when its really just the same as it was before on some cases. But hey, maybe we can be like leftists who are hoping for a collapse of the economy just to vote out Trump, I mean it doesn't hurt the poor, the lefts primary voter block, but the working class who are the rights voting block.

 

There are two aspects -- the "taking credit for a pre-existing trend", and "claiming one thing then doing the opposite." The second is what I was referring to in the post you quoted.

Not sure how criticizing Trump for his broken promises is "hoping for a collapse of the economy."

 

It’s not that people want the economy to hurt it’s that republican policies have been tried over and over again and failed each time.

Trickle down economics was once called horse and sparrow economics which is much more fitting as to what it actually entails. Feeding the horse (the rich) so much that the sparrow (everyone else) can live off of his ****.

 

That's not, its the multiple leftist people whove called for the collapse quite literally.

 

Is this true? I've never heard that term. It's perfect!

 

That's funny coming from people who want the economy that has killed 100 million people last century and has failed every time it was tried around the world. If you want "Scandinavian" socialism, that means having a tax of income on the poor of over 35%. BTW, they are socialist, they are free market, much freer than America, with a huge tax on everyone to pay out huge social benefits.

 

EVERYTHING Trump says is a lie!

Remember when he used to rag on Obama for golfing? Guess what he was doing this weekend?

He can't even read a map!
https://www.insider.com/trump-refuses-to-retract-claim-hurricane-dorian-couldve-hit-alabama-2019-9

 

Remember when the budget busting Trump tax cut was going to bring us sustained GDP grow of 3% for a decade?

US manufacturing contracts for the first time in three years amid China trade war
https://www.cnbc.com/2019/09/03/the-manufacturing-sector-is-contracting-according-to-ism-survey.html

 

Ugh!

 

This thread is like complaining about the weather.

Trump has been fixing problems in spite of all of the hate from the Left.

Trump is currently at his highest polling levels ever.

 

Complete failure to address the specific points raised in the OP noted.

 

“Coming from people that want the economy that has killed 100 million people...”

What are you even talking about? Sad deflection attempt I guess.

The poor should absolutely pay a percentage of their income in taxes, I don’t think they would mind if our income inequality was less extreme (and growing). No system is perfect, we should analyze what is working and what isn’t and adopt the policies of other countries that have been successful.

 

Fake news

 

And which Democrat who has any chance of winning will do better and why?

 

Deflection noted. This isn't about the Democratic candidates. It's about Trump making promises he either hasn't kept, or he has done the OPPOSITE of.

 

Here is another one:

Trump says a big corporate tax cut will boost average incomes by $4,000 a year.

But, instead, we'll probably hear another 1000 times the deflection to "If you like your doctor, you can keep them".

 

Or another one:

"You will see a drop [in the trade deficit] like you’ve never seen before.”

Instead, the trade deficit is growing.

 

Hey, ANY politician can juice the economy with unpaid-for tax cuts and deficit spending. No skill required.

 

He's up for reelection and if you think he has not been successful on those issues which Democrat will be mkre successful and why. If you want him gone what is the alternative?

 

CNBC reports, "The Trump administration’s latest round of tariffs on Chinese imports took effect early Sunday, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer goods in advance of the holiday shopping season.

"The 15% taxes apply to about $112 billion of Chinese imports. All told, more than two-thirds of the consumer goods the United States imports from China now face higher taxes. The administration had largely avoided hitting consumer items in its earlier rounds of tariff hikes."

The National Retail Federation, the Consumer Technology Association, Association of Equipment Manufacturers, the Toy Association and American Petroleum Institute all urged Trump to postpone his tariffs, citing concerns about cost increases for U.S. manufacturers and farmers.

Since Trump started his trade war with China, the Dow has actually lost ground.

On Jan. 29, 2018, the Dow hit its 2018 high of 26,439. As of August 30, 2019, the Dow stood at 26,403, a net loss of 36 points.

Why is it with Trump, good things are all sometime in the future? That's getting a little old after 2 1/2 years.

For example, he has yet to sign a major trade deal.

The market is off again today. That was expected. Trump 15% tariff on popular Chinese goods went into effect on Sunday.

 

I think the alternative, generally, would be making the policy focus on the middle/working class, not the rich, the stock market, and the corporations. So........changing the emphasis along these lines.............
The CEOs of nearly 200 companies just said shareholder value is no longer their main objective
https://www.cnbc.com/2019/08/19/the...-value-is-no-longer-their-main-objective.html

The Business Roundtable, a group of chief executive officers from major U.S. corporations, issued a statement Monday with a new definition of the “purpose of a corporation.”
The reimagined idea of a corporation drops the age-old notion that corporations function first and foremost to serve their shareholders and maximize profits. Rather, investing in employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities are now at the forefront of American business goals, according to the statement.