Many remember solid economy under Trump, but his record also full of tax cut hype, debt and disease

“We had the greatest economy in history,” the Republican told his Wisconsin audience. “The 30-year mortgage rate was at a record low, the lowest ever recorded ... 2.65%, that’s what your mortgage rates were.”found that Americans were most likely to say that immigration is the country's top problem, the economy in general and inflation were also high on the list..

By contrast, growth during the second term of then-President Barack Obama averaged 2.33%. So far under Biden, annual growth is averaging 3.4%.Trump also assured the public that his tax cuts would pay for themselves because of stronger growth. The cuts were broad but disproportionately favored corporations and those with extreme wealth.According to the Office of Management and Budget, the deficit worsened to $779 billion in 2018.

There were three big reasons why inflation was low during Trump's presidency: the legacy of the 2008 financial crisis, Federal Reserve actions and the coronavirus pandemic. When Trump celebrates historically low mortgage rates, he's doing so because the economy was weakened by the pandemic. Similarly, gasoline prices fell below an average of $2 a gallon because no one was driving in April 2020 as the pandemic spread.The United States lost 2.7 million jobs during Trump's presidency, according to the Bureau of Labor Statistics. If the pandemic months are excluded, he added 6.7 million jobs.

Ann, 67, moved with her husband to Portugal after scraping together money to pay their expenses in the US. Their quality of life is much better now.XThe Biden campaign gleefully turned one of Donald Trump’s favorite digs against him on Saturday, branding the 78-year-old candidate as woefully geriatric in response to his embarrassing stumble at a Minnesota rally on Friday.

Source: Financial Digest (financialdigest.net)

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