The economy is going on an upward trajectory, with some prevailing in this economic climate, and some being left behind due to unfair tariffs. Some of the success can be credited to Trump, while some of it must be credited to the trend set by former president Barack Obama after an economic slump almost a decade ago.
The economy grew 4.1 percent, falling a bit short of the 4.2 rate Bloomberg predicted. While this is a positive, Donald Trump Jr. decided to shame Obama with a blatant lie in an early morning tweet. Trump Jr., in true Trump form, chose to completely ignore Obama’s part in pulling us out of one of the deepest recessions since the Great Depression.
Incredible numbers. I remember when “the experts” laughed about breaking 3%. Just because Obama never broke 2% doesn’t mean that someone with great policies can’t. Let’s keep this going. https://t.co/05LyLBw22j
— Donald Trump Jr. (@DonaldJTrumpJr) July 27, 2018
That’s a lie. Here are the facts: out of the 32 quarters that were under Obama, 22 of them had an annualized growth rate of 2%. Actually, under his guidance, Obama is responsible for five quarters in which our GDP soared at a pace of 4 percent or higher.
Quarterly GDP growth was above 4% four times under Obama. pic.twitter.com/D2dtmDI8Ss
— Smith (@WriteSmitty) July 27, 2018
Economy did 4% plus in 2009, 2011 and 2015.
— Jake Sherman (@JakeSherman) July 27, 2018
— Maggie Jordan: (@MaggieJordanACN) July 27, 2018
A 296-page report by the Organization for Economic Cooperation and Development outlined data representing advanced and advanced nations. The report notes that the United State’s unemployed and at-risk workers are getting little support from a government that was supposed to take care of them, with their employed peers facing the challenges of weak collective bargaining.
The Trump administration is at war with our unions, with the administration being sued by federal unions to halt Trump’s anti-union executive orders.
David Cann, a director of bargaining at the Government Employees (AFGE) — which represents more than 700,000 members across 70 federal agencies — remarked that Trump is aiming at “choking the union out of existence.”
Like Business Insider noted, with Trump’s economic plans in place, the biggest winners are major corporations.
Featured image via Wikimedia Commons