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FACT FOCUS: Trump says he’s cut drug prices by up to 1,500%. That’s not possible

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FACT FOCUS: Trump says he’s cut drug prices by up to 1,500%. That’s not possible

Donald Trump, the 45th President of the United States, has been known for making bold and often controversial statements. However, his latest claim has taken things to a whole new level. In a recent interview, President Trump declared that his administration has achieved the greatest economic turnaround in history. While this might sound impressive, a closer look at the numbers reveals that this claim is mathematically impossible.

Let’s break down the numbers. The current US economy has grown at an average of 2.5% per quarter since Trump took office in January 2017. This is indeed a significant improvement from the 1.8% average growth during the last few years of the Obama administration. However, in order for Trump’s claim to be true, the US economy would have had to grow at an unprecedented rate of 7.2% per quarter, which is simply not possible.

To put this into perspective, the highest quarterly growth rate in the US economy’s history was 4.9%, at the height of the dot-com boom in 1999. During this time, the economy was fueled by a surge in technology and internet-based businesses. It is highly unlikely that the Trump administration has managed to surpass this record-breaking growth rate in just two and a half years.

But perhaps even more concerning is the fact that this statement completely ignores the state of the economy before Trump took office. The US economy was already on a steady growth trajectory under President Obama’s leadership, with a record-breaking 75 consecutive months of job growth. In fact, the economy added 227,000 jobs in January 2017, the month Trump was inaugurated, proving that the momentum was already there.

Moreover, the Federal Reserve’s interest rate policies have been a major factor in the current economic growth. Under Trump’s presidency, the Fed has gradually raised interest rates, which has led to a stronger US dollar and boosted consumer confidence. It is important to note that the Fed is an independent body and their policies are not directly influenced by the government.

So why would President Trump make such a grandiose claim that is clearly impossible to achieve? The answer lies in his constant need for validation and praise. Throughout his presidency, Trump has continuously boasted about his accomplishments and has been quick to blame others for any setbacks. This latest statement is just another attempt to take credit for the country’s economic success.

The danger in such an exaggerated claim is that it sets unrealistic expectations and can cause disappointment and mistrust among the American people. By boasting about a feat that is mathematically impossible, Trump is not only misleading the public but also disregarding the hard work and efforts of the previous administration.

It is also important to consider the wider context of the US economy. While the country has seen steady growth, there are still major issues that need to be addressed. Income inequality is at an all-time high, with the wealthiest 1% of Americans owning more wealth than the bottom 90%. The trade war with China has also caused uncertainty and volatility in the stock market, which could potentially have a negative impact on the economy in the long run.

In conclusion, President Trump’s claim of achieving the greatest economic turnaround in history is not only mathematically impossible but also ignores the progress made by previous administrations. While the US economy has seen growth under Trump’s presidency, it is important to remember that economic success is a team effort and cannot be attributed to one individual. As the country gears up for the 2020 election, let us not be swayed by exaggerated claims and instead focus on the facts and the bigger picture.

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