- Gross Domestic Product (GDP) grew at a 2.1 percent annual rate in the fourth quarter, bringing its growth rate for the year to 2.3 percent. That is a fall from the 2.5 percent growth rate in 2018 and 2.8 percent in 2017. The 2.5 percent average for the first three years of the Trump administration is almost identical to the 2.4 percent average for the second term of the Obama administration. In December of 2017 prior to the huge tax cuts to the wealthy class, Trump announced: :” This is going to be one of the great gifts to the middle-income people that they’ve ever gotten for Christmas…Years from now they can make it even more generous if we can get the economy like it should be. The economy now is at 3%. Nobody thought it would be anywhere close. I think it could go to 4, 5, and maybe even 6%, ultimately. “…….and like the wall that Mexico would pay for, this is another Promise Made, Promise Broken,
- Nearly half of all Americans between the ages of 16 and 64 do not earn enough money to live on — about $18,000 per year.
- The U.S. government’s public debt is now more than $22 trillion — the highest it has ever been.
It is important for you to know these numbers when speaking to anyone still convinced that since the DOW is up and unemployment is down, things are rosy and we would be unwise to change direction.