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The economic achievements listed in Trumps state of the Union address include dry goods and mystery

category:Finance
 The economic achievements listed in Trumps state of the Union address include dry goods and mystery


Reporter Tian Siqi

Long before Trumps latest state of the Union address, American media predicted that he would keep an optimistic tone, praise the economic achievements of the United States, and build momentum for the upcoming re-election campaign.

On the evening of February 4 local time, trump delivered his third annual state of the Union address. In his description, the US economy has delivered its best ever answer. But by contrast, at the end of the speech, Democratic House Speaker Nancy Pelosi, standing behind trump, tore up Trumps speech with a high profile.

After verification, Trumps economic figures contain established facts, but there are elements that belittle the performance of the previous government and exaggerate the work of the current government. Some statements need to provide more evidence as supplement.

Trump said he created seven million new jobs when he was elected president of the United States in November 2016.

In many cases, trump always likes to count from November 2016, rather than after he took office in January 2017. The number of jobs added would be about 6.7 million if he took office.

By contrast, eight million new jobs were created in the last 35 months of President Obamas term.

Trump also said that after his election, the net worth of the lowest earning half increased by 47%, three times faster than that of the richest 1%, which is an accurate figure. Although only 1.6% of the familys wealth is owned by the bottom half of the income, it is higher than Trumps 1.1% when he took office.

income

In terms of wages, trump pointed out that after decades of income balance and decline, wages are growing rapidly, and wages of low-income workers are growing the fastest, with wages rising by 16%: this is a blue collar boom. But trump didnt give a further definition of what a blue collar boom is.

As for the statement of median real household income is currently at the highest level ever recorded, it is basically accurate. According to the data, in 2018, the median household income adjusted for inflation reached US $63179, basically in line with the historical highest level of US $63476 in 1999.

Trump stressed that after losing 60000 factories in the previous two administrations, 12000 new factories have been added under his leadership, and thousands more are under planning or construction.

The two figures are accurate, but the statistical agencies are different. The Census Bureaus U.S. business statistics shows that when the Bush administration came to power, there were 352000 manufacturing enterprises in the United States, and only 291000 in the last year of the Obama administration.

According to the quarterly survey of employment and wages, when trump took office, the United States had 343000 manufacturing enterprises in the first quarter of 2017. By the second quarter of 2019, the number increased to 356000, but the vast majority of the increased factories only employed less than five people.

energy

Trump is proud to say that thanks to his deregulation program, the United States has so far become the worlds largest oil and gas producer. The great progress made in the past three years has made the United States energy independent now.

In fact, the boom in US oil and gas production began in the Obama era. According to the data of the US energy information agency, the United States has been the largest natural gas producer in the world since 2009, and the largest oil hydrocarbon producer since 2013, and the largest crude oil producer since 2018. This is mainly because the US shale boom since 2011 has driven up production, rather than deregulation.

Trade

Regarding the new US Mexico Canada trade agreement (usmca), trump said it would create nearly 100000 high paying auto jobs in the United States. But a report released by the U.S. International Trade Commission in April last year showed that the U.S. - Mexico Canada agreement will add 28000 jobs to the auto industry in the next six years. Another government official calculated that the agreement would add 76000 jobs, but Trumps 100000 were nowhere to be found. At the same time, trump said it was the first major trade agreement in many years that was strongly supported by American trade unions. It is true that the US Mexico Canada agreement is supported by AFL-CIO, an old trade union organization in the United States. It is the first trade agreement endorsed by AFL-CIO since 2001. However, a large number of other trade unions still boycott the US Mexico Canada agreement. Source: interface news Author: Tian Siqi, editor in charge: Zhong Qiming, nf5619

Regarding the new US Mexico Canada trade agreement (usmca), trump said it would create nearly 100000 high paying auto jobs in the United States.

But a report released by the U.S. International Trade Commission in April last year showed that the U.S. - Mexico Canada agreement will add 28000 jobs to the auto industry in the next six years. Another government official calculated that the agreement would add 76000 jobs, but Trumps 100000 were nowhere to be found.

At the same time, trump said it was the first major trade agreement in many years that was strongly supported by American trade unions. It is true that the US Mexico Canada agreement is supported by AFL-CIO, an old trade union organization in the United States. It is the first trade agreement endorsed by AFL-CIO since 2001. However, a large number of other trade unions still boycott the US Mexico Canada agreement.