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MaddowBlog-New GDP data paints an even uglier picture on the faltering Trump-era economy
In the first year of Trump’s second term, economic growth fell to a nine-year low, and job growth fell to a 16-year low. The White House hasn’t said why.
Economic growth in the first year of Trump’s second term was already disappointing, but new data paints an even uglier picture.
— Steve Benen (@stevebenen.com) 2026-03-13T15:07:31.478Z
Remember when Scott Bessent insisted that economy is “really going to pick up in the fourth quarter†of 2025? Yeah, about that...
www.ms.now/rachel-maddo...
https://www.ms.now/rachel-maddow-show/maddowblog/new-gdp-data-paints-an-even-uglier-picture-on-the-faltering-trump-era-economy
Throughout last year, as the U.S. economy struggled, Republican officials repeatedly insisted that there was good news on the way, and Americans wouldn’t have to wait too much longer to see satisfying results. As recently as August, for example, Treasury Secretary Scott Bessent confidently predicted to a national television audience that the U.S. economy is “really going to pick up in the fourth quarter” of 2025.
It did not pick up in the fourth quarter of 2025. CNBC reported:
The original expectations for the fourth quarter, spanning October through December, was 2.5% growth. This led to disappointment a month ago when a preliminary tally showed 1.4% growth.
This newly revised figure showed the economy grew at just half of that earlier, disappointing data.....
In other words, despite endless Republican hype, economic growth and job growth were significantly stronger during Joe Biden’s final year in office compared with the first year of Donald Trump’s second term.
It did not pick up in the fourth quarter of 2025. CNBC reported:
Economic growth was much slower than expected in the final three months of 2025 while core inflation rose to start 2026, the Commerce Department reported Friday.
Gross domestic product, a measure of all the goods and services produced across the sprawling U.S. economy, rose at a seasonally and inflation-adjusted annual rate of just 0.7% in the fourth quarter, according to the department’s Bureau of Economic Analysis.
The original expectations for the fourth quarter, spanning October through December, was 2.5% growth. This led to disappointment a month ago when a preliminary tally showed 1.4% growth.
This newly revised figure showed the economy grew at just half of that earlier, disappointing data.....
In other words, despite endless Republican hype, economic growth and job growth were significantly stronger during Joe Biden’s final year in office compared with the first year of Donald Trump’s second term.