How Soybeans Explain What's Really Going On In Trump's Trade War
here’s good economic news, Donald Trump declared July 27, with the economy growing 4.1% in the second quarter of 2018. That number is accurate, for the moment, provided you don’t look beneath the surface or back at past economic performance or to a horizon about 60 days out.
Let’s take a look at the results of Trumponomics at 19 months by examining Trump’s statements about the facts on economic growth.
That 4.1% growth in the economy, or Gross Domestic Product as its formally known, is the best so far under Trump. But initial quarterly reports are notoriously inaccurate. Maybe growth was more and maybe it was much less.
“The first-to-final estimates of quarterly GDP lately has had a lot of volatility,” noted Professor Robert Eyler, chair of the economics department at Sonoma State University in California. He said the revised data may show just 3.5% growth, which would still be a good number.
Facts are never enough for Trump, who has to exaggerate even when he has good news. So we get this from the Embellisher in Chief: “We’ve accomplished an economic turnaround of historic proportions.”
Nope. Not even close.
Obama did better in four of the 32 quarters he was in office. So did every other president back to Harry S Truman.
https://www.dcreport.org/2018/08/08/the-truth-behind-trumps-economic-lies/
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