Trump’s Broken Promises on the Economy

During a special order hour led by Mr. Hoyer, House Democrats took to the Floor and discussed newly-released reports from the Joint Economic Committee this week. One report focuses on how President Trump continues to take credit for an economy he inherited from President Obama, and the second details the failure of the GOP tax scam to deliver on its promises. Someone at the Washington Post must have been listening.  Today’s Finance 202 headline – “The Trump administration's economic promises are falling well short of reality” -- perfectly captures exactly what Democrats have been saying. Key points below:

“The economy last year grew at its slowest pace of President Trump’s term so far, expanding by 2.3 percent, well below the clip the president pledged to deliver.”

“The president’s signature $1.5 trillion tax cuts have failed to provide the ‘rocket fuel’ he projected for growth while widening the deficit, the debt has climbed to $18 trillion.”

“…Economic expansion is merely maintaining its pace from President Barack Obama’s second term — and tracking below its rates during the Carter, Reagan and Clinton administrations…”

“…Business investment contracted from April through December of last year. Boosters of Trump’s tax cuts said they would yield a boom in capital spending by businesses that in turn would improve productivity, setting the economy on a new, higher growth trajectory. That has failed to materialize…”

To view Mr. Hoyer’s full remarks during the special order hour, click here. To read the full Finance 202 article, click here.