State of the Union 2020: Trump economic claims fact-check

State of the Union 2020: Trump economic claims fact-check

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To hear President Trump tell it in his State of the Union speech Tuesday, he rescued a declining, hollowed-out economy from ruin to create the greatest era of prosperity in U.S. history.

Trump has presided over a solid economy since taking office in 2017 but mischaracterized the state of the economy under President Obama and overstated his accomplishments. In truth, the economy has mounted a steady recovery since the Great Recession of 2007-09, marking the longest expansion in American history.

“You have seen a continuation of the trend,” says Elise Gould, senior economist at the left-leaning Economic Policy Institute.

Here’s a reality check of some of Trump’s assertions.

The economy

Trump: “The years of economic decay are over,” he said. “In just three short years, we have shattered the mentality of American decline.”

Facts: Obama spearheaded an economic stimulus and bailout of banks and other companies that are credited with digging the nation out of recession. The economy grew an average 2.2% a year during Obama’s tenure. That’s a bit less than the 2.5% average under Trump. But Trump spearheaded a $1.5 trillion our tax cut and spending increases to achieve that pace by juicing growth to near 3% in 2018. Growth is expected to slip below 2% the next two years.

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By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.