Even Trump Agrees: GDP Growth Under President Biden Shows Signs of Booming Economy
January 25, 2024
In response to GDP growth numbers showing the strength of America’s economy under President Biden, DNC Rapid Response Director Alex Floyd released the following statement:
“Donald Trump called GDP growth numbers less impressive than today’s ‘unbelievable’ and evidence of a ‘tremendous’ economy – we can’t imagine what he’d say with numbers even higher under President Biden. After four years of Trump’s failed MAGAnomics agenda that rigged the economy for the ultra-wealthy and saw a net loss of American jobs for the first time since Herbert Hoover, Americans are seeing every indicator that Bidenomics is delivering for hardworking Americans and building the economy from the bottom up and the middle out.”
NEW: President Biden continues to deliver on the economy — as the U.S. economy continued to grow in the final quarter of 2023.
CNBC: “The U.S. economy grew at a 3.3% pace in the fourth quarter, much better than expected”
New York Times: “The U.S. economy continued to grow at a healthy pace at the end of 2023, capping a year in which unemployment remained low, inflation cooled and a widely predicted recession never materialized.”
Barron’s: “GDP Growth Surged for a Strong Finish to 2023”
Trump used to brag about less impressive GDP growth numbers and repeatedly said GDP increases translated to major economic gains for America.
Trump: “Right now we hit a 3.2. Nobody thought that was possible in four years. … Each point is $3 trillion and 10 million jobs. Just remember that.”
Trump: “If you look at GDP for the last quarter, it was 3 percent. Everybody was shocked to see that.”
Trump: “2.6 is a number that nobody thought they’d see for a long period of time. … 2.6 is an unbelievable number.”
Trump: “But we have GDP — if you raise — if you go up one point in GDP, it takes care of many sins. If you go up two points, it takes care of everything.”
Trump: “And the numbers — you know, if we go up one point in GDP – one point – it’s $3 trillion and it’s 10 million jobs. Think of that. One point.”
Trump: “But every time we go up one point, just so you understand, one point means $2.5 trillion, means 10 million jobs. So one point in GDP is an incredible statement. $2.5 trillion for each point, 10 million jobs for each point.”
Let’s not forget that Trump admitted that he wanted the economy to crash so it would benefit him politically — with no regard for how it would hurt hardworking families.
Trump: “And when there’s a crash — I hope it’s going to be during this next 12 months because I don’t want to be Herbert Hoover. The one president I just don’t want to be, Herbert Hoover.”
Daily Beast: “Donald Trump admitted Monday that he wants a severe economic downturn to happen during the next year, because it will help his odds of winning the presidential election.”
Trump said that having a Democrat for president would hurt our GDP. By Trump’s own standards, President Biden’s Bidenomics agenda has completely debunked that claim.
Trump: “And believe me, if I didn’t get elected, if the opposition party, which I call the obstructionist party, they’re obstructionists, it’s all they’re good at. If they got elected … you would have been down to a GDP that would have been negative. You would have had a negative GDP, and wait until you see over the coming quarters how good it is going to be.”
Trump: “If the Democrats got in with their agenda in November of almost two years ago, instead of having 4.2 up, I believe honestly you’d have 4.2 down; you’d be negative. You’d be in negative numbers right now. You’d be a negative number.”
REMINDER: Trump’s disastrous MAGAnomics agenda left him with the worst jobs record of any president in modern American history.
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.”
Forbes: “Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018”
CBS News: “Two years after Trump tax cuts, middle-class Americans are falling behind”
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.”