Trump's 3 biggest lies about the economy in tonight's State of the Union:
1. TRUMP: “The U.S. economy is growing almost twice as fast today as when I took office, and we are considered far and away the hottest economy anywhere in the world.”
Baloney. The U.S. economy expanded at an annual rate of 3.5 percent in the 3rd quarter of 2018. Latvia, Poland, China, and India grew almost twice as fast. U.S. growth was even slower in the 4th quarter, and it slowed even further the first month of this year.
2. TRUMP: “We have created 5.3 million new jobs and importantly added 600,000 new manufacturing jobs — something which almost everyone said was impossible to do, but the fact is, we are just getting started.”
Rubbish. The economy has added 4.9 million jobs since Trump took office, including 454,000 manufacturing jobs – just about the same pace of job creation as during some two-year periods during the Obama administration, and far slower than the pace of manufacturing jobs in the 1990s (I know. I was there.)
3. TRUMP: “More people are working now than at any time in our history.”
Oh, please. The total number of people working in the United States is higher than ever because more people than ever now live in the United States. Duh.
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