Analysis: Trump’s economy is no silver bullet, history shows
President Harry S. Truman announces the government seizure of the steel industry on April 8, 1952. By Aaron Blake Aaron Blake Senior political reporter, writing for The Fix Email Bio Follow April 30 at 6:30 AM President Trump got more good economic news Friday, with the announcement that the gross domestic product had grown by an annual rate of 3.2 percent in the first quarter of 2019. It was an acceleration from the disappointing 2.2 percent figure from the last quarter.
It’s a bold prediction, certainly — even as the idea that the economy is paramount in voters’ minds is taken as an object of faith in American politics. If you look at presidents who have had the kind of economy Trump does, you’ll find it’s hardly a panacea. Of the last five presidents who had an unemployment rate below 4 percent and a year of GDP growth over 3 percent — as Trump does today — only two saw his party retain the White House in the next election.
Approval ratings for presidents with unemployment rates below 4 percent and annual GDPs above 3 percent. As you can see, there are relatively few months in which the economy met these conditions. As you can also see, there was no guarantee that these conditions meant people would be in love with the incumbent president. In fact, the average presidential approval rating across all these months is 45 percent — slightly higher than where Trump is today.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Pressed on Trumps' response to white nationalism, Kellyanne Conway brings up Ocasio-Cortez, Hillary, NY Times'That is darn-near perfection, when you're calling out KKK, neo-Nazis and you're saying there were people there who hadn't signed up for that,' said Conway.
Lire la suite »
Trumps, Pences leave Teacher of the Year ceremony to DeVosThe annual Teacher of the Year ceremony will be hosted by Education Secretary Betsy DeVos on the White House grounds Monday afternoon, a White House official said.
Lire la suite »
Trumps sue to quash Deutsche Bank, Capital One subpoenasDeutsche Bank has continued to lend money to the president when other banks have refused. Trump wrote a check to Michael Cohen on his Capital One account.
Lire la suite »
Trumps and Businesses Sue Deutsche Bank and Capital OnePresident Trump, three of his children and his real-estate businessfiled a federal lawsuit to block Deutsche Bank and Capital One from complying with congressional subpoenas for documents related to him and his family.
Lire la suite »
Trumps file new lawsuit to keep finances hidden from investigatorsAs a rule, when Trump World acts as if it has something to hide, it's because Trump World has something to hide.
Lire la suite »
Melinda Gates: Capitalism needs work, but it trumps socialism and the US is 'lucky' to have itMelinda Gates, in an interview with CNBC's Becky Quick, said people living in developing countries 'want to live in these types of capitalistic societies.'
Lire la suite »
Trump sues Deutsche Bank and Capital One in attempt to block congressional subpoenasThe Trumps want a federal judge to declare the subpoenas unlawful and enforceable. The lawsuit also seeks to block Deutsche Bank and Capital One from disclosing information and complying with the subpoenas.
Lire la suite »
Occidental gives Anadarko an ill-judged bear hugIts $38 bln cash-and-stock offer trumps bigger rival Chevron’s bid for the U.S. oil producer, is a two-thirds premium and in theory helps both sides. Yet Occidental’s shares are less attractive and its debt would jump. Chevron only need sweeten its offer a bit to regain its edge.
Lire la suite »
Analysis | Trump’s 2018 midterm rebuke came from the most diverse electorate in historyAnalysis: Trump’s 2018 midterm rebuke came from the most diverse electorate in history
Lire la suite »
Analysis | Trump tries to re-write his own history on Charlottesville and ‘both sides’Joe Biden cast a spotlight on the 2017 tragedy in Virginia. And now Trump and some supporters are trying to argue his controversial comments were taken out of context.
Lire la suite »