hahaha what propagandist told you that? we have had one qtr this entire year with positive gdp and that’s only the 3rd and only because the predictions are the gop is taking CongressHere’s a primer for you maga fuckup.
On the basis of the stock market and gross domestic product (GDP), the economy is in fact performing very well. But those trends already existed before the TCJA became law. The unemployment rate — 3.5% in February 2020 — has reached its lowest level in more than 50 years, but data from the U.S. Bureau of Labor Statistics (BLS) shows that unemployment has been steadily declining since 2010. There isn’t currently enough evidence to show that Trump’s tax cuts lowered the unemployment rate more quickly. Preliminary data from the U.S. Bureau of Economic Analysis (BEA), released in February, also suggests that GDP has actually been slowing as of late.
Along with the U.S. bringing in less tax revenue since Trump’s tax reform, the U.S. deficit has increased significantly. Data from the Federal Reserve Bank of St. Louis shows that the federal deficit grew 17% from 2017 to 2018 and 26% from 2018 to 2019. Federal debt passed $1 trillion in 2019 and the Congressional Budget Office (CBO) expects the deficit to average $1.4 trillion from 2021 to 2030. Whether the size of the deficit should matter is an issue still being debated by economists, but it’s clear that Trump himself expected his tax cuts to not just lower the deficit but pay it off entirely.
The stocket market has been shit