Democratic Presidential candidate Pete Buttigieg incorrectly stated that the economy under President Trump has not been beneficial to the poor.
“The problem is we’ve had an economy grow and not been able to lift up those most in need or even so many in the middle,” Buttigieg claimed. “When I’m president, we’re going to measure the performance of our economy not by the Dow Jones, but by the income growth of the 90 percent.”
Buttigieg’s claims are not reflected in reality. According to the Federal Reserve Bank of Atlanta, under President Trump, the bottom 25% has seen the highest annual wage growth, at 4.5%, compared to the rest of the economy. Under Buttigieg’s metric of judging the economy “by the income growth of the [bottom] 90 percent,” President Trump’s economy has been very successful. The bottom 90% has seen disproportionate wage growth compared to the top 10% of the economy.
Further, since Trump took office in 2017, more than 5.9 million individual Americans have been lifted off of food stamps. “For the first time in its history, the Gallup ‘Mood of the Nation’ economic survey found that 59% of people believe that they are ‘better off,’ a trend that has soared under Trump,” Paul Bedard reported for the Washington Examiner. “It is higher than when President Ronald Reagan made his economy a campaign rallying cry and better than the so-called dot-com bubble under President Bill Clinton.”
The Trump economy has repeatedly set new unemployment records and outperformed the estimates from economists. Democratic Presidential candidate Pete Buttigieg has ignored reality, choosing to attempt to boost his odds at winning the Democratic nomination over the American people.