Quote:
Originally Posted by lilylivered
And furthermore....
TRUMP TRUMP TRUMP
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You clearly have been drinking FB's Cool Aid. You and he should read this to sober up.
https://www.msn.com/en-us/news/polit...82c31b61&ei=64
Trump’s first quarter report from the Bureau of Economic Analysis reflects a sharp contraction in the economy, showing an annual decrease in the GDP of 0.3 percent. Compared to Biden’s last quarter, when “real GDP increased 2.4 percent,” the data suggest that perhaps Trump isn’t the economic genius he claims to be.
These are not partisan data; that the Bureau falls under the US Department of Commerce suggests Trump may soon hobble its reporting capacity. For now, the data show economic contraction, reflecting a colossal reversal from Biden’s expansion. Wall Street sums up Trump’s first 100 days in office as the “worst for the stock market in half a century.”
On brand, when faced with these data, Trump lied, deflected, and blamed his predecessor, posting,“This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th. This… has NOTHING TO DO WITH TARIFFS, only that (Biden) left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!”
Trump can’t stop parroting his own campaign lies about Biden’s economy. During the 2024 presidential campaign, when he wasn’t manufacturing a border invasion to enrage people, Trump repeatedly attacked Biden’s economy. It worked. While remaining mum on how his own COVID-19 mismanagement worsened the economy, he convinced 49% of voters that they were impoverished, despite economic indicators to the contrary.
After commerce reports came out this week, Trump doubled down. During an embarrassing televised cabinet meeting orchestrated to praise himself, Trump confirmed that he sought to undo everything Biden did to improve the economy, stating, “We came in and I was very against everything that Biden was doing in terms of the economy. … We took over his mess in so many different ways.”
Trump and his cabinet may drink their own economic Kool-Aid, but Wall Street is abstaining. Multiple indicators confirmed that Biden delivered the strongest post-COVID economic recovery in the world, including: growth and job creation that exceeded G7 and other advanced economies' growth in 2024; inflation control despite global inflationary pressures; avoidance of the post-COVID recession predicted by many; wage gains; strong market performance with record S&P 500 highs; and stellar infrastructure investment that Trump, in a toddler-esque pique of jealousy, is scrambling to unravel.
During Biden’s term, the U.S. added 16 million jobs, low earners were experiencing wage growth, inflation levels approached the Federal Reserve’s target, and unemployment hit a 54-year low. By these metrics, Biden performed economic jujitsu, delivering an economy that The Economist called “the envy of the world.”
After Trump officially blamed Biden this week for economic contractions caused by his own ill-conceived tariffs, he went further, instructing right-wing media how to spin bad economic news of the future. During his televised “Praise Dear Leader” cabinet meeting, Trump told his preferred outlets (Fox, Newsmax, OAN) that they should also blame any economic downturns in the second quarter on Biden.
