Chris Murphy debunking Twitler economic claims

[Roland99]

Link to tweet

https://threadreaderapp.com/thread/1225486692011909122.html

1/ One of Trump's favorite tactics is taking credit for Obama's economy. Democrats need to stop letting him get away with it.

A quick thread debunking some of his favorite lies ⬇️
2/ Job Creation

Obama created 227K jobs a month in his last three years in office. In Trump's first three years, it's only been 191K per month.

Job creation numbers were 20% higher under Obama during that three-year span.
3/ Deficits

Trump DOUBLED the budget deficit, creating over $3 trillion in new debt.

Where did all this money go? Mostly to tax cuts for corporations and rich people. But instead of boosting the economy, business investment has actually fallen since the tax law passed.
4/ Wages

Real wages aka what you can buy for the amount of money you take home, are actually doing worse under Trump.

They increased just 0.8% since Trump took office, compared with 1.3 percent over a similar period under Obama.
5/ Trade War

Trump's self-inflicted trade war contributed to outright job declines last year in states like Wisconsin, Pennsylvania, Oklahoma, Indiana and New York.

Overall, the trade war with China cost America 450,000 jobs in 2019.
6/ Obama inherited the worst financial crisis since the great depression and pulled America out of it.

Trump was handed a healthy economy and has made things harder for working families while juicing corporate profits.

Don't let his lies try to tell you otherwise.

[Dennis Donovan]

1. Kick. Speaker Pelosi also laid this out yesterday as well

[bullwinkle428]

2. I made another point on this if he's looking for more evidence.

https://www.democraticunderground.com/100212953156

[Iliyah]

3. Thank you . . .

[underpants]

4. ✅

Bookmarking

[Poiuyt]

5. Nobel Prize winning economist said the same thing at Davos

“At this point in an economic recovery — it’s been ten years since the Great Recession — labor markets get tight, unemployment gets lower, and that at last starts having wages go up,” Stiglitz explained. “The remarkable thing is how weak wages are, how weak the economy is, given that as a result of the tax bill, we have a $1 trillion deficit.”

The tax bill that Stiglitz is referring to is the GOP-sponsored Tax Cuts and Jobs Acts of 2017, which passed along partisan lines and lowered the corporate tax rate in the U.S. from 35% to 21%. Critics of the law, including Krugman and Reich, have complained that while it greatly benefitted millionaires and billionaires, it left the American working class out in the cold.

Trump’s description of the U.S. economy as being fabulous for the working class, according to Stiglitz, is “just wrong.”

https://www.rawstory.com/2020/01/just-wrong-nobel-prize-winning-economist-destroys-trumps-boast-about-a-blue-collar-boom/#comments_section_start

[crickets]

6. K&R for the post and the discussion/links.

[smirkymonkey]

7. K&R

[erpowers]

8. Retweeted and Liked

This tweet needs to be retweeted and like by as many Democrats as possible.

[ooky]

9. It's always good to push back, but what would make it even better is to provide

source information for the data so that readers can also verify it. Most everybody on DU of course already knows the truth, but it may be helpful for the readers on social media who don't know to have quick access to the data in case they are actually interested in seeking out the truth. Links for the lazy, if you will.