Trump's Most Repeated Lie About The Economy

 

“Within three short years, we built the strongest economy in the history of the world....In a new term as president, we will again build the greatest economy in history.”

FACT CHECK:

Before the coronavirus pandemic shuttered businesses and sent unemployment soaring, the president could certainly brag about the state of the economy in his first three years as president. But he ran into trouble when he made a play for the history books to say it was the best economy in U.S. history. By just about any important measure, the economy under Trump did not do as well as it did under Presidents Dwight D. Eisenhower, Lyndon B. Johnson or Bill Clinton. The gross domestic product grew at an annual rate of 2.3 percent in 2019, slipping from 2.9 percent in 2018 and 2.4 percent in 2017. But in 1997, 1998 and 1999, GDP grew 4.5 percent, 4.5 percent and 4.7 percent, respectively. Yet even that period paled in comparison against the 1950s and 1960s. Growth between 1962 and 1966 ranged from 4.4 percent to 6.6 percent. In postwar 1950 and 1951, it was 8.7 percent and 8 percent, respectively. Meanwhile, the unemployment rate reached a low of 3.5 percent under Trump, but it dipped as low as 2.5 percent in 1953. (After the virus tanked the economy, Trump jacked up his claim even more, falsely saying it had been the greatest economy in the history of the world.)