Larry Kudlow in 2020 FactCheck


On Budget & Economy: Fact check: No, Trump didn't inherit stagnant economy

Trump's top economic adviser, Larry Kudlow, claimed that Trump, when elected, was "inheriting a stagnant economy on the front end of recession." That is false. Looking at the broadest measure of economic health, gross domestic product, the numbers show that average quarterly economic growth under Trump, 2.5 percent, was almost exactly what it was during President Barack Obama's second term, 2.4 percent.
Source: NBC News Fact-Check on 2020 Republican Convention speech Aug 25, 2020

On Jobs: Fact check: unemployment fell to lowest rate of 3.5%

Kudlow claimed that the economy "was rebuilt in three years," saying, "Unemployment fell to the lowest rate of 3.5 percent." However, as good as that number was, the rate was already at 4.7 percent when Trump took office. In fact, Obama presided over a much steeper drop in unemployment in his second term, a 3.3-point drop in the rate, than Trump did in his first three years, a decline of 1.2 points. The numbers under Trump appear to be the continuation of a trend, not something new.
Source: NBC News Fact-Check on 2020 Republican Convention speech Aug 25, 2020

The above quotations are from Fact-checking on 2020 Presidential, Gubernatorial, and Senatorial campaigns.
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Page last updated: Dec 01, 2021