2018 FactCheck: on Budget & Economy


Larry Kudlow: FactCheck: No, deficit is increasing with Trump tax cuts

In June 2018, Kudlow asserted that the tax cut was generating such growth that "it's throwing off enormous amount[s] of new tax revenues", and "the deficit, which was one of the other criticisms, is coming down--and it's coming down rapidly". Both assertions were incorrect. Since the tax cut was enacted, federal tax receipts increased 1.9% on a year-on-year basis, while they increased 4.0% during the comparable period in 2017. By the same method, the federal budget deficit increased 37.8% while it increased 16.4% during the comparable period in 2017. Kudlow later asserted he was referring to future deficits, although every credible budget forecast indicates increasing deficits in coming years, made worse by the Trump tax cut if not offset by major spending cuts. Barring such spending cuts, the CBO projected the tax cut would add $1.27 trillion in deficits over the next decade.
Source: Wikipedia.com Fact-Check on 2018 Trump Cabinet members Dec 31, 2018

Donald Trump: FactCheck: Economy turned around before Trump took office

Among the president's top 10 whoppers of 2018:WE PULLED OFF AN ECONOMIC TURNAROUND OF HISTORIC PROPORTIONS.

"We've accomplished an economic turnaround of historic proportions," Trump said in a July 2018 Rose Garden press conference.

This is false. The economy wasn't hurting when Trump took office, and it hasn't turned around in just two short years. The economic turnaround Trump refers to is actually credited to his predecessor, President Barack Obama, who steered the country from a devastating recession into booming growth.

Economists told NBC News that Trump might have given the economy a boost with the tax cuts and dampened it with the trade war, but he didn't turn things around. Economies do not turn on a hair with a new presidency. While Obama can look back on his eight years and see his leadership play out, Trump's effect is still not yet known.

Source: NBC Fact Check on 2018 Trump Promises, "10 falsehoods" Dec 20, 2018

  • The above quotations are from Fact-checking on 2018 gubernatorial and Senate campaigns.
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2020 Presidential contenders on Budget & Economy:
  Democrats running for President:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Gov.Lincoln Chafee (L-RI)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
CEO Tom Steyer (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)

2020 Third Party Candidates:
Rep.Justin Amash (L-MI)
CEO Don Blankenship (C-WV)
Gov.Lincoln Chafee (L-RI)
Howie Hawkins (G-NY)
Gov.Gary Johnson(L-NM)
Howard Schultz(I-WA)
Gov.Jesse Ventura (I-MN) 		Republicans running for President:
Sen.Ted Cruz(R-TX)
Gov.Larry Hogan (R-MD)
Gov.John Kasich(R-OH)
V.P.Mike Pence(R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump(R-NY)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld(R-MA & L-NY)

2020 Withdrawn Democratic Candidates:
Sen.Stacey Abrams (D-GA)
Mayor Bill de Blasio (D-NYC)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Adm.Joe Sestak (D-PA)
Rep.Eric Swalwell (D-CA)
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