THE TRUMP ECONOMY

Politics, Trump, Trump Economics, Trump Politics, Voting Politics

Can we please put the Republican and Democratic claims in perspective?  They both misstate and overstate the data on the economy.

Here is the data; you make your own conclusions:

How has the economy performed between Obama and Trump?  Has the economy boomed after the Trump tax cuts?  Has the deficit or debt ballooned during the Trump administration?  Was the stock market under-performing under Obama or over-performing under Trump?  Has Unemployment dropped under Trump policies?

One measure is the GDP Growth since the Great Recession.  (Data is from the US government Bureau of Economic Analysis)

  1. There has been steady growth in the GDP that dates back to 2011. The trend does not significantly change with the election of Mr. Trump in 2016.
  2. The Average 6-month growth during the Obama period was 2.1%
  3. The Average 6-month growth during the Trump period was 2.4%; however, the rate of growth has been continuously dropping over the past 2 years.
  4. The largest periods of GDP growth actually occurred in the first half of 2013, the last half of 2014 and the first half of 2015, outstripping the growth in any 6-month period during the Trump administration.

Another statistic that is used is the unemployment rate since the Great Depression (data is from the US Government Bureau of Labor Statistics).

  1. Unemployment has fallen steadily since the beginning of 2011.
  2. Although the numbers are lower during the Trump Administration, there is no observable affect that can be seen during the period of 2016-2019.

What about the Stock Market? 

Has the Trump administration caused the market to jump? 

  1. There has been a steady increase in the Dow Jones since the beginning of 2011.
  2. Although the raw numbers are greater during the Trump administration, there is no observable difference in the growth rate overall since the beginning of 2016.

How about the government deficit under the Trump administration?

Here are the deficits by year since 2011 

  1. Deficits fell in each year since 2011 under the Obama administration
  2. Deficits have risen in each year of the Trump administration.

What about the National Debt? 

  1. The national Debt has been increasing at a constant rate since 2011.
  2. There has been neither an increase nor a decrease in the rate of debt accumulation since 2016.

What about Wage Growth? 

  1. Wages have been increasing at a steady rate since 2011 with a small blip during the 2015-2016 years.
  2. Current wage growth is not significantly different than that of the past 10 years.
  3. The effects of increased minimum wage laws passed around the country that took place in 2020 have not been factored into these numbers.