Revised Economic Bureau Reports Find Trump Oversaw Lowest GDP Since Hoover

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        New Report Finds GDP Growth Under Trump Was Worst Since the Great Depression
    

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By Evan BrechtelAug 08, 2021
Evan Brechtel
Evan Brechtel is a writer and actor living in New York. A Fordham University graduate, he also writes a monthly column for Chosen Magazine and is currently working on a historical fiction novel about New York queer bars over the twentieth century.
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For four years, former President Donald Trump touted a strong economy largely inherited from his predecessor.
Like much of the former President's characterizations about his White House record, these boasts don't hold up to reality.
Under former President Donald Trump, the national debt skyrocketed by 36 percent to a whopping $27 trillion, despite his campaign promise to eliminate it altogether in eight years. Relative to the size of the economy, Trump's increase of the federal deficit is the third-largest of any President in American history.
Nevertheless, Trump and his spending enjoyed widespread support from Republican lawmakers and right-wing media, who would spend the next three and a half years hailing him as one of the greatest Presidents for the economy of all time.
But now a new report from the U.S. Commerce Department's Bureau of Economic Analysis yet again confirms that Trump's purported success on the economy is overblown.
The Department recently released revisions to reports on the United States' Gross Domestic Product (GDP) dating back to 1999—revisions which found that Trump's administration saw the least economic growth since Herbert Hoover's—the President who oversaw the Great Depression.
To his credit, Trump is a distant second to Hoover—whose GDP was actually -7.4 percent. Under Trump the GDP saw a growth of 1.6 percent.
Though not nearly as catastrophic as Hoover, Trump's GDP growth—according to the revisions—pales in comparison to every President since the Hoover administration.
Social media users made sure to share the news.
Republicans suck for the economy, and Trump was among the worst.https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
 — Markos Moulitsas (@Markos Moulitsas)
        1628338973

Friendly reminder of how right we were!https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
 — SavvySuzanne "will Rise Up!" (@SavvySuzanne "will Rise Up!")
        1628265902

Who in their right mind would want to go back to 2020 and having Trump in office when it comes to the economy? \n\nYet, voters continue to give the GOP high marks in that area.https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
 — Your Liberal Friend (@Your Liberal Friend)
        1628170076

His report card continues to say FAIL.https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
 — Todd Gold (@Todd Gold)
        1628169270

Explain this @GOP? Tell me again how Biden is ruining the economy???\n\nTrump extended the GOP's run of presidential bad luck with the economy, begging the question of whether it's really just luck, writes @foxjust https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026 via @bopinion
 — JoeTrudeau (@JoeTrudeau)
        1628118629
They referred to the former President with one of his own favorite derisive terms.
Loooooserhttps://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
 — freric (@freric)
        1628217442

And the @GOP pledges loyalty to this loser!https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression?utm_source=url_link\u00a0\u2026
 — Robert holgate (@Robert holgate)
        1628032273

Loserhttps://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
 — Michael Ferreira (@Michael Ferreira)
        1628213718
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For four years, former President Donald Trump touted a strong economy largely inherited from his predecessor.

Like much of the former President's characterizations about his White House record, these boasts don't hold up to reality.

Under former President Donald Trump, the national debt skyrocketed by 36 percent to a whopping $27 trillion, despite his campaign promise to eliminate it altogether in eight years. Relative to the size of the economy, Trump's increase of the federal deficit is the third-largest of any President in American history.

Nevertheless, Trump and his spending enjoyed widespread support from Republican lawmakers and right-wing media, who would spend the next three and a half years hailing him as one of the greatest Presidents for the economy of all time.

But now a new report from the U.S. Commerce Department's Bureau of Economic Analysis yet again confirms that Trump's purported success on the economy is overblown.

The Department recently released revisions to reports on the United States' Gross Domestic Product (GDP) dating back to 1999—revisions which found that Trump's administration saw the least economic growth since Herbert Hoover's—the President who oversaw the Great Depression.

To his credit, Trump is a distant second to Hoover—whose GDP was actually -7.4 percent. Under Trump the GDP saw a growth of 1.6 percent.

Though not nearly as catastrophic as Hoover, Trump's GDP growth—according to the revisions—pales in comparison to every President since the Hoover administration.

Social media users made sure to share the news.

Republicans suck for the economy, and Trump was among the worst.https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
— Markos Moulitsas (@Markos Moulitsas) 1628338973

Friendly reminder of how right we were!https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
— SavvySuzanne "will Rise Up!" (@SavvySuzanne "will Rise Up!") 1628265902

Who in their right mind would want to go back to 2020 and having Trump in office when it comes to the economy? \n\nYet, voters continue to give the GOP high marks in that area.https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
— Your Liberal Friend (@Your Liberal Friend) 1628170076

His report card continues to say FAIL.https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
— Todd Gold (@Todd Gold) 1628169270

Explain this @GOP? Tell me again how Biden is ruining the economy???\n\nTrump extended the GOP's run of presidential bad luck with the economy, begging the question of whether it's really just luck, writes @foxjust https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026 via @bopinion
— JoeTrudeau (@JoeTrudeau) 1628118629

They referred to the former President with one of his own favorite derisive terms.

Loooooserhttps://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
— freric (@freric) 1628217442

And the @GOP pledges loyalty to this loser!https://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression?utm_source=url_link\u00a0\u2026
— Robert holgate (@Robert holgate) 1628032273

Loserhttps://www.bloomberg.com/opinion/articles/2021-08-02/trump-s-gdp-growth-was-the-worst-since-the-great-depression\u00a0\u2026
— Michael Ferreira (@Michael Ferreira) 1628213718

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