Former George W. Bush speechwriter David Frum called out Donald Trump Jr. for attacking a former Barack Obama policy his father is now copying.
While on the campaign trail in July 2016, the younger Trump claimed that the economic expansion under President Obama wasn’t real because it was only sustained by low interest rates.
“If you look at what’s going on in this country, it’s a disaster,” Trump Jr. said speaking to CNN’s Jake Tapper. “Anything that is left in our economy is only there because it’s artificially inflated with ridiculously low interest rates. It won’t work in the long-run. It’s a lie.”
Two years later, President Donald Trump has been railing against the Federal Reserve Chair for refusing to keep interest rates low. According to the president, lower rates will guard against an economic slowdown and help usher in global economic growth.
“Had the Fed not mistakenly raised interest rates, especially since there is very little inflation, and had they not done the ridiculously timed quantitative tightening, the 3.0 [percent] GDP, & Stock Market, would have both been much higher & World Markets would be in a better place!” Trump claimed in a tweet last week.
“Despite the unnecessary and destructive actions taken by the Fed, the Economy is looking very strong, the China and USMCA deals are moving along nicely, there is little or no Inflation, and USA optimism is very high!” He repeated the sentiment in a tweet Thursday.
Frum called attention to the hypocrisy, posting the video of the younger Trump.
“In light of Trump’s recent attacks on Fed … in 2nd half of this clip, Don Jr says that Obama economic expansion is not real because it is only sustained by ultra-low interest rates. Today Trump Sr claiming that current expansion is doomed without … ultra-low interest rates,” Frum tweeted.
In light of Trump's recent attacks on Fed … in 2nd half of this clip, Don Jr says that Obama economic expansion is not real because it is only sustained by ultra-low interest rates. Today Trump Sr claiming that current expansion is doomed without … ultra-low interest rates. https://t.co/g3fLJBVFQG
— David Frum (@davidfrum) April 4, 2019