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Another broken promise: Job creation under Trump trails Obama by 800,000

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Job growth has slowed under President Trump compared to the final months of President Obama’s second term, despite Trump’s frequent boasts that the current economy is the “greatest” in the history of the country.

During the first 29 full months that Trump has been in office, from February 2017 through June 2019, the economy created 5.61 million jobs, or about 194,000 per month, according to the Bureau of Labor Statistics.

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During Obama’s last 29 full months, from September 2014 to January 2017, the economy added 6.42 million new jobs, or about 221,000 per month.

Altogether, job growth under Trump is about 810,000 jobs short of what it was under Obama during the final part of his presidency.

The job growth numbers were much better in 2018, which Forbes noted was due to a massive corporate tax cut that blew a huge hole in the deficit, but have gotten far worse this year. The gap in job growth between Trump and Obama was only about 194,000 in January but has increased by 616,000 jobs since.

“Looking at the next six months with Obama’s job numbers of 188,000 to 327,000 per month, the gap should only increase and cross 1 million,” wrote Forbes’ Chuck Jones.

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The White House has argued that the comparisons should begin in November 2016, when Trump’s election win boosted the stock market, MSNBC reported. But those numbers actually make the record worse: There were 7.32 million jobs created during the previous 32 months, versus 6.25 million in the 32 months since Trump’s election.

Trump has credited his policies, like regulation rollbacks and incomplete or unratified trade deals, with boosting the economy. But an NPR fact-check noted that he inherited an already strong economy and his numbers have been pushed along by steady growth that began way back in 2010. It’s true that the Republican tax cut helped job growth, but its positive effects on the economy have been lackluster and it added trillions to the national debt, a figure Trump had decried before it ballooned during his presidency.

In fact, numerous trends suggest that, if anything, his policies are hurting the economy.

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Although Trump vowed that his tariffs would lead to a rebirth of manufacturing in America, a recent survey found that manufacturing had fallen to its lowest point since the Great Recession, with business owners pointing at his tariffs as the primary cause.

Trump also claimed that tariffs would save American farmers. In reality, farmers in the Midwest are filing for bankruptcy at record rates, largely because of Trump’s trade wars with China and Mexico, which have caused retaliatory tariffs that hit farmers the hardest.

Trump also promised to revive the coal industry, blaming Obama for hurting workers by imposing regulations to protect the air and water. Despite rolling back these regulations, coal consumption has fallen to its lowest level since 1978. Since Trump’s election, 51 coal plants have closed and eight coal companies have filed for bankruptcy.

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Even banks like JP Morgan Chase and Morgan Stanley, which got a huge boost from Trump’s tax cuts, are getting nervous. Both financial giants have warned that Trump’s tariffs may plunge the U.S. economy into recession.

According to a Duke University survey, nearly 70 percent of American corporate CFOs now expect a recession to hit by the end of Trump’s first term.

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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Conservative columnist blasts GOP as ‘partisan hacks for whom hypocrisy is second-nature’

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On Tuesday, President Donald Trump once again ripped into The Squad, this time to undercut an emotional press conference in which Rep. Rashida Tlaib (D-MN) described the conditions her Palestinian relatives live under.

“Sorry, I don’t buy Rep. Tlaib’s tears. I have watched her violence, craziness and, most importantly, WORDS, for far too long,” the president tweeted. “Now tears? She hates Israel and all Jewish people. She is an anti-Semite. She and her 3 friends are the new face of the Democrat Party. Live with it!”

Sorry, I don’t buy Rep. Tlaib’s tears. I have watched her violence, craziness and, most importantly, WORDS, for far too long. Now tears? She hates Israel and all Jewish people. She is an anti-Semite. She and her 3 friends are the new face of the Democrat Party. Live with it!

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Trump-worshipping artist unveils insanely disturbing new painting — and the internet is having a field day

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Jon McNaughton, the Trump-loving artist whose worshipful portraits of the president have drawn comparisons to North Korean propaganda, has unveiled a new painting that many Twitter users find deeply disturbing.

The new painting, which is titled "The Masterpiece," features President Donald Trump sitting at an easel and preparing to unveil a painting of his own.

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Trump-loving evangelicals don’t want Mike Pence as president because he has too much ‘decency’: WaPo columnist

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Washington Post columnist Elizabeth Bruenig this week talked with Ana Marie Cox on her "With Friends Like These" podcast about how evangelical Christians have an almost apocalyptic fervor for supporting President Donald Trump.

Bruenig, who is herself a practicing Catholic, earlier this year traveled to her home state of Texas to get a sense of how evangelicals were feeling about politics headed into 2020.

What she found, she told Cox, was a group of Christian conservatives who are even more devoted to the president than they were just three years ago when they helped power his electoral college victory.

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