Heritage Foundation economist Stephen Moore had tremendous news for President Donald Trump and the American people. But he also has some bad news for anyone singing the praises of Bidenomics.
Moore made an appearance alongside Trump for a news conference in the Oval Office to give his report on the economy’s performance under the first Trump term, former President Joe Biden’s term, and the first five months of Trump’s second term.
As previously stated, some of this news is great for Trump — while other bits of information don’t reflect kindly of the former president.
Moore started by telling the room that in the final two years of Biden’s term, the Bureau of Labor Statistics overshot jobs created by an astounding 1.5 million. “That’s a gigantic error,” Moore told Trump, who quipped, “It might not have been an error.”
Next Moore spoke about median household income. In Trump’s first five months back this year, average median household incomes adjusted for inflation are up $1,174.
Again, Trump had to joke as only he could, “If I would have said this, nobody would have believed me.”
Moore next compared real family incomes under Trump’s first term and Biden’s term.
Is it surprising that the media hasn’t reported on any of these numbers yet?
Even when the COVID-19 pandemic caused Trump’s performance in that category to dip, it was still substantially better than Biden’s. Under Trump, average real income gains for families was $6,400.
Biden only managed $551.
Compared to Biden, Moore explained, “Mr. President, you gained 10 times more income for the average family than Joe Biden, and it’s because of your policies.”
The bad news for Biden only continued as Moore explained that every income group did better under Trump’s first term compared to Biden’s.
“The lowest income group lost income under Biden. They were poorer four years after Biden’s presidency. No gain virtually whatsoever for the middle class.
“The rich was the only group that did better under Biden, which is ironic because Biden kept saying he was trying to get rid of income inequality. He made income inequality worse not better. It was President Trump that reduced income inequality,” Moore concluded.
When breaking it down in terms of numbers, the 25th percentile gained around $4,000 under Trump. The middle class gained $6,400, and the wealthiest bracket gained almost $10,000. “You can see every income group did better under Trump than Biden.”
Needless to say, Moore’s numbers are cause for celebration in the early stages of Trump’s second term and reassurance that he saw tremendous success during his first term.
As for Biden, the numbers are absolutely devastating.
We were told for four years by the left and legacy media outlets that the Biden economy was healthy and working.
Nobody was fooled as Americans needed to only check their bank accounts to see through the lies.
Moore just put the nail in the coffin and added more legitimacy to what so many millions knew for themselves based on personal experience from Trump’s first term compared to Biden’s.
The economy was better under Trump.
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