Republican claims great jobs numbers are all because of Donald Trump
In a House hearing on the Oversight Committee, Rep. Lisa McClain (R-MI) claimed that Donald Trump saved the American economy after the COVID-19 crisis.
"President Trump's pro-growth and pro-worker, er, uh, pro-worker economy created by the tax cuts and job act and investing in American manufacturing combined with the unparalleled response to the pandemic created the fastest — fastest economic recovery in history," she told the committee.
While critics have certainly called Trump's response to the pandemic unparalleled, the U.S. lost so many jobs under Donald Trump that it set a record for the worst jobs loss by any president in the history of the United States, the Washington Post explained in 2021. Fortune even characterized Trump as worse on jobs than Herbert Hoover, who was in office when the stock market crash of 1929 happened. He was the first president since Hoover to leave office having not increased the jobs in the United States. He had 3 million fewer jobs in the country.
According to the Joint Economic Committee, "the most reliable data about household income is released annually by the U.S. Census Bureau, which in Sept. 2019 reported that inflation-adjusted median household income in 2018 was $63,179. This represents a $1,400 increase over the first two years of the Trump administration. However, this does not include the period from January 2019 through the present."
The same chart showing 2020 reveals the real median household income in the United States actually went down under Trump to the tune of $1,622. President Joe Biden has managed to slow that with the decrease in 2021 of just $402 in 2021. There aren't yet updated numbers for 2022.
The Republican tax credit was projected by Trump's own Treasury Department to ultimately cost American taxpayers $2.3 trillion ten years after passage, Politico reported in Feb. 2018.
"For the years 2018 to 2027, the shortfall ranges from $1 trillion to $1.3 trillion. In measuring for 2019 to 2028, the picture improves, but the 10-year shortfall still is between $700 billion to $1.1 trillion," said the analysis.
See the comments from Rep. McClain in the video below or the link here.
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