Is Trump Lying About Economic Gains?
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FEATURING CHUCK COLLINS – President Trump on Friday touted a new government report showing that the Gross Domestic Product (GDP) of this year’s second quarter was 4.1% – the highest it has been since 2014. According to the Federal Reserve, despite this positive GDP rate, the forecast for the year remains at a 2.8% growth rate. Employing his usual exaggerations, the President falsely claimed, “We’ve accomplished an economic turnaround of historic proportions.”
Meanwhile this week news has started to trickle in about corporate shares falling and prices being hiked in direct response to the tariffs that Trump has unilaterally imposed on American trading partners in Europe, Canada, Mexico, and China.
For more information about the report ‘Warehousing Wealth: Donor-Advised Charity Funds Sequestering Billions in the Face of Growing Inequality’, HERE.
Chuck Collins, senior scholar at the Institute for Policy Studies where he directs the Program on Inequality and the Common Good. He has written a number of books including 99 to 1: How Wealth Inequality is Wrecking the World and What We Can Do About It, and Born on Third Base: A One Percenter Makes the Case for Tackling Inequality, Bringing Wealth Home, and Committing to the Common Good.