MANUFACTURING DAY SPLIT SCREEN: Bidenomics Built a Manufacturing Boom After Factories Were Shuttered Under Trump
October 6, 2023
On National Manufacturing Day, here’s your reminder that thanks to the Biden-Harris administration, Bidenomics is leading a manufacturing boom – creating over 800,000 manufacturing jobs here in America. This comes after Donald Trump’s administration created incentives to ship American jobs overseas and cost the American economy millions of jobs.
Bidenomics has created a historic manufacturing boom all across America.
Bloomberg: “US Steel CEO Hails IRA as a ‘Manufacturing Renaissance Act’”
Yahoo News: “Under President Biden, however, a manufacturing boom finally seems to be getting started. Since the beginning of 2022, construction spending on new factories has more than doubled, from an annualized rate of $91 billion in January 2022 to $189 billion in April 2023, the latest data available. That’s the biggest jump, by far, in data going back to 2002.”
The Hill: “A surge in manufacturing construction across the country is grabbing the attention of economists and workers on the ground as legislative efforts to reinvigorate the U.S. industrial base are bearing fruit.”
Axios: “South, Mountain West see manufacturing boom under Biden”
Wall Street Journal: “Shift to EVs Triggers Biggest Auto-Factory Building Boom in Decades”
Trump claimed he created more than 1.2 million manufacturing and construction jobs, but the U.S. actually lost tens of thousands of manufacturing jobs under his watch.
Politico: “Asked for comment, a Trump spokesperson sent a long list of the former president’s economic accomplishments, saying his policies ‘created more than 1.2 million manufacturing and construction jobs’ and helped ‘bring back supply chains from overseas.’”
BLS: When Trump left office, there were 170,000 fewer manufacturing jobs than when he started.
Under President Biden, manufacturing and construction employment is currently higher than at any point during the Trump administration.
BLS, August 2023: There were 12,997,000 manufacturing jobs in the U.S., more than at any point under Trump.
BLS, August 2023: There were 7,993,000 construction jobs in the U.S., more than at any point under Trump.
Trump broke his promises to Americans, including workers in the Midwest.
Detroit Free Press: “And in March 2017, he praised General Motors when he flew to Detroit to highlight the importance of American manufacturing. That same day, GM announced plans for 900 new or retained jobs in Michigan within 12 months. This week, GM confirmed a net loss of 3,500 hourly manufacturing jobs in 2017.”
Washington Post: “Trump promised this Wisconsin town a manufacturing boom. It never arrived.”
Trump didn’t just wreak havoc on the manufacturing and construction industries – he left office 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.”