WATCH: President Trump takes questions on the economic recovery
During President Trump’s first three years in office, incomes for the average American family grew by $6,000–more than five times the gains seen during the entire Obama Administration.
Then 9 months ago, the Coronavirus plague spread across the world. Despite gloomy predictions that the U.S. economy would see double-digit unemployment far into the future, America has witnessed its fastest recovery in history under President Trump.
“Under the previous administration, it took 30 months to recover more than half the jobs lost in the crisis,” President Trump told the Economic Clubs of New York; Florida; Washington, D.C.; Chicago; Pittsburgh; and Sheboygan, Wisconsin, this morning in a virtual address from the Rose Garden.
“We surpassed that milestone in fewer than 5 months.”
During his remarks and a subsequent Q&A session, the President talked about the fast economic recovery, his Administration’s massive Coronavirus response, and the strategy to protect vulnerable Americans while safely reopening our country for the young and healthy:
- Trust the American people: “Americans should be trusted with the facts, the data, and the truth. For the young and healthy, the risk is exceedingly low—99.98 percent of those under the age of 50 survive . . . That’s why we’re so focused on protecting elderly and higher-risk Americans.”
- End mass lockdowns: “The unscientific lockdowns pushed by leftwing politicians are needlessly destroying millions of lives”—through suicides, delayed healthcare, and more. “The cure cannot be worse than the problem itself.”
- Keep up historic action: The Trump Administration has sent over 160 million stimulus checks, provided over $650 billion in forgivable loans to American small businesses, protected 50 million jobs, increased unemployment benefits, froze student loan payments, stopped evictions, and suspended payroll taxes.
- Help the working class: “My policies have benefited those who need it the most. The bottom 50 percent of households saw an astonishing 40 percent increase in net worth. Wages rose the fastest for blue-collar workers.”
- Come back stronger than ever: “We will continue our V-shaped recovery and launch a record-smashing economic boom. We will end the pandemic with a safe and effective vaccine [and] create 10 million jobs in the first 10 months of 2021.”
No one predicted the kind of Great American Comeback that President Trump has led—both during his first three years in office and following the worldwide Coronavirus outbreak earlier this year. “At the end of the last administration, the Congressional Budget Office projected fewer than 2 million jobs would be created in 3 years,” he said.
Instead, the Trump Economy created 7 million of them.
Now, America is rapidly recovering from the pandemic with 11.4 million jobs created since May. To continue that historic boom, President Trump is ensuring that medical and pharmaceutical supply chains are reshored, that Federal contracts are stripped from companies that outsource jobs, and that American healthcare is protected—including Medicare and insurance for patients with preexisting conditions.
“We are lifting up citizens of every race, color, religion, and creed,” President Trump said today. “We are delivering a future of fairness, justice, and dignity. We are defending our values, our principles, and our way of life.”
🎬 President Trump: “The best is yet to come!”
🎬 WATCH President Trump’s full address
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Marine One carrying President Donald J. Trump lifts off from the South Lawn | October 14, 2020
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