Claim: "We are enjoying the strongest economy this country has seen in 50 years."
We are currently in the longest U.S. economic expansion in history. Although it is true that economic success has accelerated under Trump, it is also true that it began under Obama. Trump inherited a good economy and the only major domestic economic policy for which his administration can take credit is the 2017 tax cut— a clear example of short-term gain for long-term pain. This policy dramatically increased the budget deficit in return for short-term growth, but this growth is slowing much sooner than economists anticipated, and our generation will inherit the consequences. Trump’s tax policy also benefited wealthy Americans far more than anyone else, with the richest 5 percent getting 26.5% of the tax cuts. While the Trump economy is working well for those at the top, income inequality continues to increase and pay is barely rising.