{"id":1994068,"date":"2023-08-08T09:26:08","date_gmt":"2023-08-08T13:26:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/numbers-dont-lie-trump-sets-biden-straight-on-which-admin-had-the-best-economy\/"},"modified":"2023-08-08T09:26:08","modified_gmt":"2023-08-08T13:26:08","slug":"numbers-dont-lie-trump-sets-biden-straight-on-which-admin-had-the-best-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/numbers-dont-lie-trump-sets-biden-straight-on-which-admin-had-the-best-economy\/","title":{"rendered":"Numbers Don&#8217;t Lie: Trump Sets Biden Straight on Which Admin Had the Best Economy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnumbers-dont-lie-trump-sets-biden-straight-on-which-admin-had-the-best-economy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1994068&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President Joe Biden has been trying to sell \u201cBidenomics\u201d in recent weeks as he campaigns for a second term, but former President Donald Trump made clear who had the better economy in a speech Saturday night.<\/p>\n<p>\u201cOne of the most important issues of the campaign will be who can rescue our country from the burning wreckage of Bidenomics. You know what that stands for, right? Henceforth it will be defined as inflation, taxation, submission and failure,\u201d Trump told Republicans at the Silver Elephant Dinner in Columbia, South Carolina.<\/p>\n<p>\u201cAny numbers that you see that are economically positive right now in the Biden administration are because they\u2019re running on the fumes of what we created years prior to their taking office,\u201d the leading 2024 GOP presidential contender said.<\/p>\n<p>Liberals love to throw around the <a href=\"https:\/\/www.washingtonpost.com\/business\/2021\/01\/08\/trump-jobs-record\/\" target=\"_blank\" rel=\"noopener\">silly statistic<\/a>\u00a0about the nation <a href=\"https:\/\/www.factcheck.org\/2021\/10\/trumps-final-numbers\/\" target=\"_blank\" rel=\"noopener\">losing jobs<\/a> overall under Trump, but that, of course, was a result of the COVID-19 pandemic shutdowns, the most severe of which tended to be in Democrat-led states.<\/p>\n<p>The economy was well on its way to recovery when Trump left office in January 2021. The unemployment rate had dropped from a pandemic high of <a href=\"https:\/\/www.bls.gov\/opub\/ted\/2020\/unemployment-rate-rises-to-record-high-14-point-7-percent-in-april-2020.htm\" target=\"_blank\" rel=\"noopener\">14.7 percent<\/a> in April 2020 to 6.3 percent. It\u2019s<a href=\"https:\/\/www.westernjournal.com\/biden-admin-drops-update-jobs-numbers-reflects-lowest-statistic-since-2020\/\" target=\"_blank\" rel=\"noopener\"> 3.5 percent<\/a> now.<\/p>\n<p>The reason the economy was recovering so quickly is that Trump and the GOP-control Congress had put a <a href=\"https:\/\/www.westernjournal.com\/biden-unintentionally-concedes-trump-tax-cuts-working-treasury-sees-record-revenues\/\" target=\"_blank\" rel=\"noopener\">pro-growth tax plan<\/a> in place that encouraged American businesses to invest and create jobs.<\/p>\n<p>The United States went from having one of the highest corporate tax rates in the world at 35 percent to slightly below average at <a href=\"https:\/\/www.investopedia.com\/taxes\/trumps-tax-reform-plan-explained\/\" target=\"_blank\" rel=\"noopener\">21 percent<\/a>. That and other pro-business tax incentives and pro-business regulatory reforms set the economy booming.<\/p>\n<p>Record revenues came into the Treasury under the new tax structure thanks to economic growth. Total federal revenue was <a href=\"https:\/\/www.westernjournal.com\/biden-unintentionally-concedes-trump-tax-cuts-working-treasury-sees-record-revenues\/\" target=\"_blank\" rel=\"noopener\">$3.3 trillion<\/a> in fiscal 2017, the year the tax cuts passed. In fiscal 2022, with the tax cuts still largely in place, total revenue was <a href=\"https:\/\/fiscaldata.treasury.gov\/americas-finance-guide\/#:~:text=In%202022%20the%20federal%20government,pay%20interest%20incurred%20from%20borrowing.\" target=\"_blank\" rel=\"noopener\">$4.9 trillion<\/a>.<\/p>\n<p>During his South Carolina speech, the former president said his administration created \u201cthe greatest economy in the history of the world.\u201d<\/p>\n<p>It was certainly the<a href=\"https:\/\/fred.stlouisfed.org\/series\/GDP\" target=\"_blank\" rel=\"noopener\"> largest by gross domestic product<\/a> up to that point. Granted, the general trend of the U.S. economy has been up for decades, and the country has held the <a href=\"https:\/\/www.worlddata.info\/largest-economies.php\" target=\"_blank\" rel=\"noopener\">No. 1 spot<\/a> in the world in terms of size.<\/p>\n<p>\u201cUnder Joe Biden, real incomes have gone <a href=\"https:\/\/www.foxbusiness.com\/politics\/americans-have-lost-7400-due-inflation-under-biden-heritage\" target=\"_blank\" rel=\"noopener\">down by $7,400 per family<\/a> \u2014 think of that \u2014 and under President Trump, <a href=\"https:\/\/www.politifact.com\/factchecks\/2019\/aug\/22\/ivanka-trump\/ivanka-trump-mostly-accurate-disposable-income-has\/\" target=\"_blank\" rel=\"noopener\">yearly income went up<\/a> an average of $6,000,\u201d the former president said.<\/p>\n<div class=\"firefly-embed\">\n<\/div>\n<p>That loss in buying power under Biden is due to the<a href=\"https:\/\/www.westernjournal.com\/reagan-economist-takes-presidents-claims-bidenomics-numbers\/\" target=\"_blank\" rel=\"noopener\"> 50-year high inflation rate<\/a>, which peaked last summer thanks, in part, to massive government spending.<\/p>\n<p>Further, as Trump pointed out, Biden\u2019s push to <a href=\"https:\/\/www.westernjournal.com\/heritage-expert-highlights-biden-admin-outsourcing-energy-production-china-making-planet-dirtier\/\" target=\"_blank\" rel=\"noopener\">restrict<\/a> domestic fossil fuel production has contributed to inflation, pushing the price of a gallon of gasoline from <a href=\"https:\/\/www.eia.gov\/dnav\/pet\/hist\/LeafHandler.ashx?n=PET&#038;s=EMM_EPMR_PTE_NUS_DPG&#038;f=W\" target=\"_blank\" rel=\"noopener\">$2.39 in January 2021<\/a> at the start of his administration to more than $5 last summer. It\u2019s now creeping back toward $4 per gallon.<\/p>\n<p>Trump continued his critique saying, \u201cDuring Biden\u2019s first 30 months in office, just 2.1 million new jobs were created, and by contrast, during my first 30 months in office, we <a href=\"https:\/\/www.bls.gov\/opub\/mlr\/2019\/article\/employment-growth-accelerates-in-2018.htm\" target=\"_blank\" rel=\"noopener\">created<\/a> a record 4.9 million <a href=\"https:\/\/www.bls.gov\/opub\/mlr\/2018\/article\/employment-growth-moderates-in-2017.htm\" target=\"_blank\" rel=\"noopener\">new jobs<\/a>.\u201d<\/p>\n<p>In a tweet Friday, Biden said 13.4 million jobs have been added since taking office, boasting, \u201cThat\u2019s Bidenomics.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Our economy added 187,000 jobs last month, and we\u2019ve added 13.4 million jobs since I took office.<\/p>\n<p>That\u2019s Bidenomics. <a href=\"https:\/\/t.co\/o97NAH69d5\">pic.twitter.com\/o97NAH69d5<\/a><\/p>\n<p>\u2014 Joe Biden (@JoeBiden) <a href=\"https:\/\/twitter.com\/JoeBiden\/status\/1687526381331021824?\">August 4, 2023<\/a><\/p>\n<\/blockquote>\n<p>Well, <a href=\"https:\/\/www.westernjournal.com\/biden-attempts-tout-job-numbers-gets-fact-checked-hard-musks-new-twitter-feature\/\" target=\"_blank\" rel=\"noopener\">fact-checkers<\/a> have shot down the president\u2019s job claims multiple times.<\/p>\n<p>Most of the jobs Biden brags about don\u2019t really represent new ones. It took until September 2022 for the number of jobs in the U.S. to reach the pre-pandemic level under Trump, according to <a href=\"https:\/\/www.factcheck.org\/2022\/10\/bidens-numbers-october-2022-update\/\" target=\"_blank\" rel=\"noopener\">FactCheck.org<\/a>.<\/p>\n<p>About 10 million of the 13.4 million jobs he cited were needed to get the workforce back to where it was in February 2020.<\/p>\n<p>Robert Frick with Navy Federal Credit Union told <a href=\"https:\/\/www.marketplace.org\/2022\/08\/05\/employment-pre-pandemic-levels-half-a-million-new-jobs-july\/\" target=\"_blank\" rel=\"noopener\">Marketplace<\/a> last summer there is still much ground to be made up.<\/p>\n<p>\u201cYeah, we\u2019re back to the pre-pandemic level,\u201d he said. \u201cBut if you look to the pre-pandemic trend, we\u2019re 4 or 5 million jobs below that.\u201d<\/p>\n<p>Trump pledged if elected president, \u201cDay one the Biden economic bust will be replaced with the historic Trump economic boom. We\u2019re going to have a boom beyond what we had.\u201d<\/p>\n<p>There is no arguing over who oversaw a better economy.<\/p>\n<p>The American people know it. Only 38.3 percent approve of Biden\u2019s handling of the economy and 58.3 percent disapprove, according to the <a href=\"https:\/\/www.realclearpolitics.com\/epolls\/other\/president_biden_job_approval_economy-7321.html\" target=\"_blank\" rel=\"noopener\">RealClearPolitics<\/a> polling average.<\/p>\n<p>Prior to the pandemic in January 2020, <a href=\"https:\/\/news.gallup.com\/poll\/313070\/trump-economic-ratings-no-longer-best-class.aspx#:~:text=Presidential%20Job%20Approval%20on%20the%20Economy&#038;text=Trump's%2063%25%20approval%20rating%20on,May%2028%2DJune%205%20poll.\" target=\"_blank\" rel=\"noopener\">63 percent<\/a> of Americans approved of Trump\u2019s economy, according to Gallup. Even during the pandemic, his approval number hovered around <a href=\"https:\/\/www.npr.org\/2020\/08\/25\/905578939\/despite-widespread-pain-economy-remains-strong-selling-point-for-trump\" target=\"_blank\" rel=\"noopener\">50 percent<\/a> in August 2020, much better than Biden\u2019s now.<\/p>\n<p>Numbers don\u2019t lie.<\/p>\n<p>If Americans want to get the economy moving strongly again in the right direction, Trump is the clear choice over Biden.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/numbers-dont-lie-trump-sets-biden-straight-admin-best-economy\/\">Numbers Don&#8217;t Lie: Trump Sets Biden Straight on Which Admin Had the Best Economy<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden has been trying to sell \u201cBidenomics\u201d in recent weeks as he campaigns for a second term, but former President Donald Trump made clear who had the better economy in a speech Saturday night. \u201cOne of the most important issues of the campaign will be who can rescue our country from the burning<\/p>\n","protected":false},"author":662,"featured_media":1994069,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1994068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1994068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/662"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1994068"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1994068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1994069"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1994068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1994068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1994068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}