Back when the Obama economy was still roaring during the first two years of Donald Trump’s illegitimate presidency, Trump was fond of falsely taking credit for the ongoing boom. Now that Trump’s tax scam and failed trade war have sent the economy into a tailspin, Trump is suddenly insisting that it’s not his fault, it’s the fault of the Fed Chair, or China, or California, or anyone he can blame. The trouble? It just got even worse for him.
Not only is the U.S. economy now heading sharply in an ugly direction, it turns out it’s been heading there for most of Trump’s presidency. You know all those rosy job growth reports that the Trump regime has been releasing? A division of Trump’s own administration is now acknowledging that a lot of those jobs simply never existed.
The Bureau of Labor Statistics, a division of the Department of Labor, has announced that half a million fewer jobs were created in 2018 and the first quarter of 2019 than had previously been stated. Job report numbers routinely get revised after the fact, and often not in a positive direction, but the sheer size of this trend strikes us as… interesting.
Has Donald Trump’s Labor Department been purposely putting out phony jobs report numbers in an effort to trick Wall Street and the public into thinking that the economy was still roaring when it wasn’t? Either way, this revised report is terrible news for the economy. It means this isn’t some kind of new slowdown, it’s been slowing down for quite some time. Welcome to the Trump economy.
Bill Palmer is the publisher of the political news outlet Palmer Report