‘Nobody’s ever seen a number like this!’ New data reveals just how bad the Trump economy actually was

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1972

Raw Story: Former president Donald Trump was obsessed with the gross domestic product.

“Nobody’s ever seen a number like this!” Trump declared at a rally last October, referring to the GDP.

As it turns out, Trump was right — but not in a good way.

Across Trump’s four years in office, the nation recorded its lowest overall rate of GDP growth — at 1.6 percent — since President Herbert Hoover’s administration during the Great Depression, according to a new report from Bloomberg.

Annual GPD numbers go back to 1929, and growth was negative-7.4 percent until Hoover left office in 1933. GDP growth reached a record high of 5.5. percent under John F. Kennedy, and prior to Trump the next-lowest rate was 1.8 percent under George W. Bush. The GDP grew by a rate of 2.1 percent under Trump’s predecessor, Barack Obama.

“This is, let’s be clear from the start, not a perfect way of measuring presidential economic performance,” Bloomberg’s Justin Fox reports. “There are lots of things that determine economic growth rates other than who is in the White House, and when a president does make a difference the results may be felt long after he’s left Washington. Still, it’s a widely used metric and Trump was downright obsessed with it.”

Noting that the comparison may seem unfair due to the COVID-19 pandemic, Fox tried adjusting the GDP numbers backward and forward by one quarter. He also averaged them with another key indicator — gross domestic income — and corrected them for population growth, but things didn’t get much better for Trump, who remained at or near the bottom of the pack.  read more..

https://www.rawstory.com/trump-gdp-growth/

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6 COMMENTS

  1. This article from October of 2019 (right about when the the bioweapon COVID-19 was first deployed against China) explains it all… “From 1927 to 1929 the Fed deliberately created then burst a stock bubble using interest rates. Republican President Hoover signed the Smoot-Hawley Tariff act in 1930 to defend American industry, resulting in a trade war that was blamed along with Hoover for the Great Depression that was brought on by an economy bloated with debt and easy money during the Roarin’ Twenties boom. Hoover was blamed and lost re-election to Democrat FDR with his New Deal. Behind all were the actions of the Federal Reserve, the real power. Soon it will be clear if 2020 will be a modern era repeat of the Hoover script, this time with a Democrat whose “New Deal” will likely be green.”

    https://www.globalresearch.ca/fed-make-trump-new-herbert-hoover/5691459

    • Global Research is a Zionist publication. When you dance in a sewer, expect your shoes to smell a bit.

    • No he isn’t, not anymore and we have been friends for many years. Nobody has held out against ‘them’