Trump Economics Speech Vol. 1: Trump Claims Household Income Is Down $4,000 From 16 Years Ago

econ

After a disastrous couple of weeks filled with gaffes and fights, the GOP held its breath for what Republicans hoped would be a speech the could restart the faltering Trump campaign. Attempting today to be more calm and presidential, Trump even took some protestors in stride and didn’t attack even one mother of a fallen American soldier.

But did he start telling the truth? The above headline that involves a “Vol. 1” should give you an indication. First in our series we’ll start with an appetizer, a flubbed and inaccurate statistic with just enough truth in it to make it seem believable.

“American households are earning more than $4,000 less today than they were sixteen years ago,” Trump said in a laundry list of economic ills.

According to the 2014 census, the median household income was $53,657. Median household income was $57,826 in the year 2000. That’s probably the $4000 that he was referring to.  But Trump didn’t say “in 2014,” he said “today.”

Unfortunately for Trump and fortunately for America, the median household income in this country has risen by almost $3,500 in the last two years, since the last census data was available. The median household income is up to $57,206 currently, up almost 7% from just two years ago. That makes just a $620 difference in the numbers from 2016 and 2000, not the $4,000 that Trump claimed.

It is in Trump’s interest to convince the American public that this economy is going off of a cliff. Fudging these numbers for his own gain is just another example of ignoring an economy that is doing very well by almost every measure.

Sources:
Read the Full Transcript of Donald Trump’s Economic Speech

http://www.npr.org/2016/08/08/488816816/donald-trump-looks-to-turn-the-page-on-bad-week-with-economic-speech
http://money.cnn.com/2016/08/08/news/economy/trump-economic-reality-check/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s