Trump's claim he boosted incomes by $7,000 differs from actual data
President Donald Trump boasted on Monday that American incomes have skyrocketed during his presidency, surpassing gains under his predecessors, a claim that isn’t supported by official government data.
Trump said at a Cabinet meeting that over 2 1/2 years, net incomes “rose $5,000, not including $2,000 for taxes, so it rose, let’s say, $7,000.” He also reposted a tweet over the weekend from an employee of conservative group Turning Point USA, who touted similar figures.
Trump’s estimates came from his Council of Economic Advisers that’s charged with providing advice on economic policy, according to a White House spokesperson. A June CEA report estimated that government deregulation will provide an inflation-adjusted $3,100 per household annually by 2021 and a separate White House statement showed that the Republican tax cuts package will bump that up to about $6,600 for the average household. In his comments Monday, Trump rounded the figure up to $7,000.
So far, official data don’t reflect that optimism over Americans’ incomes.
Inflation-adjusted median income rose $1,400 in the past two years, or 2.3% from 2016 to 2018, according to the U.S. Census Bureau, the government agency that tracks and compiles incomes. That compares with a 5% gain under former President Barack Obama, who took office during the last recession, and a decline of 4.2% under George W. Bush, which included the start of the 2008 financial crisis.
https://www.msn.com/en-us/money/markets/trumps-claim-he-boosted-incomes-by-dollar7000-differs-from-actual-data/ar-AAJdodw?li=BBnbfcN
= new reply since forum marked as read
75% of what he says is made up on the spot.
