DNC Statement on Trump’s Disastrous Economic Record
April 27, 2023
In response to Donald Trump’s attempts to rewrite his economic record in New Hampshire, DNC spokesperson Ammar Moussa released the following statement:
“Trump’s lies won’t change the fact he holds the worst jobs record of any president since the Great Depression and rigged the economy for the ultra-wealthy and biggest corporations. Trump’s stewardship of the economy was an abject disaster, in stark contrast to the over 12 million jobs the Biden-Harris administration has helped deliver for America in just two years. ”
Donald Trump presided over the single worst jobs record of any administration since the Great Depression.
Fortune: “Trump to leave office with the worst jobs record since Herbert Hoover”
Washington Post: “President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.”
Trump rigged the economy for the ultra-wealthy and big corporations, handing them billions in tax cuts at the expense of working families.
Forbes: “Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018”
Forbes: “However, the fact that the ultra-rich potentially pay a lower tax rate than the working class is a massive problem. The Trump administration’s tax cuts for the wealthy highlight the fact that policy is moving in the wrong direction.”
The Guardian: “They were billed as a ‘middle-class miracle’ but according to a new book Donald Trump’s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.”
New York Times Opinion: “President Trump’s 2017 tax cut, which was largely a handout to the rich, plays a role, too. It helped push the tax rate on the 400 wealthiest households below the rates for almost everyone else.”
But in just two short years, over 12 million jobs have been created under President Biden — including nearly 800,000 manufacturing jobs.
Bureau of Labor Statistics: The economy gained over 12 million jobs from January 2021 to January 2023.
New York Times: “Factory Jobs Are Booming Like It’s the 1970s”
Fortune: “Biden’s massive manufacturing push is working and U.S. companies have already committed $200 billion to new projects”