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Debunking Eight False Claims by Trump Regarding the Biden-era Economy – Let’s Fact Check


Sep 14, 2023

In a recent campaign speech, former President Donald Trump criticized the US economy under President Joe Biden, accusing him of deceiving the public. However, many of the economic claims made by Trump were false. Trump made eight false claims, ranging from exaggerations to fabrications. One false claim was that everyone had jobs and was happy when he was president, when in reality, the unemployment rate was 6.3% when he left office in January 2021. Trump also claimed that the current unemployment rate is “fake,” but there is no basis for this claim. Trump also falsely stated that the monthly job reports have been revised downward every month of 2023. While there have been some revisions, there were also upward revisions for certain months. Trump claimed that the US has the highest inflation rate in 50 years, but this is not accurate. The highest inflation rate during the Biden era was 9.1%, which is the highest since 1981. Additionally, Trump claimed that the dollar has lost more than 20% of its value in the past three years, but this is not true. The decline in the purchasing power of the dollar is about 15%, not more than 20%. Finally, Trump claimed that under Biden, real incomes have gone down by $7,400 per family, but this is false. Under Trump, income went up by more than $6,000, but this is not a record.

By Editor

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