President Donald Trump is using the good performance of the US economy as a weapon against the Democrats, arguing that growth would not be so high had they won the 2016 elections.
The majority of Republicans believe that the tax reduction package was approved last year and that the increase in the number of Americans will help them at the polls this coming November in the midterm elections.
Trump promoted the rate of 4.2 percent of GDP – its best performance in almost four years – and the unemployment rate of 3.9 percent – one of the lowest levels in half a century – as proof that his administration is working and using the numbers to knock out the Democrats.
President Donald Trump is using the good performance of the US economy as a weapon against the Democrats
Trump promoted the rate of 4.2 percent of GDP, its best performance in almost four years, and the unemployment rate of 3.9 percent, one of the lowest levels in half a century.
He is using the economic numbers as a weapon against the democrats
He also used the numbers to counteract the reports of chaos in his administration
"If the Democrats had won the Elections in 2016, the GDP, which was around 1% and went down, would have been less than 4% instead of 4.2%, I opened our beautiful economic engine with Regulation and tax cuts. The system was drowning and would have gotten worse, there is still a lot to do, "he wrote on Twitter on Monday morning.
He also used the numbers to counter reports of chaos over his administration, the result of excerpts from Bob Woodward's forthcoming book, "Fear," and an anonymous New York Times editorial that spoke of a "resistance" movement against his presidency.
"The White House is a 'running machine without problems'," he tweeted. "We are doing some of the most important and most important deals in the history of our country, with many more to come! The Democrats are going crazy!
But Democrats are not lurking in economic claims.
Trump's tweets come after former President Barack Obama launched a biting attack on his successor's presidency on Friday, including a coup against the president who claimed credit for a strong economy.
Obama noted that the economy was on the rise when he left office.
"When I left office, the family income was close to its historical maximum, and the rate of uninsured people reached an all-time low, poverty rates were falling." I mention this just as you hear how good the economy is at this time, remember when this recovery began, "he said.
"I'm glad it's continued, but when they hear about this economic miracle that's been happening, when the work numbers come out, the monthly work numbers and suddenly the Republicans say it's a miracle, I have to remind them, actually, those work numbers are the same as in 2015 and 2016, "he added.
The results-oriented Trump often touts strong economic figures as proof that its presidency is delivering on its promises.
In the 19 months since Trump took office, the economy has created 3.58 million new jobs, but the economy created 3.96 million created in the last 19 months of Obama's presidency, the New York Times reported.
And the last time the GDP reached 4.2 percent was in 2014, when Obama was in office.
But under Trump, unemployment is now at a record low of 3.9 percent and stock markets have hit record highs.
The president returned the blow to his predecessor's attack and said in a speech on Friday that Obama has been "trying to take credit for this incredible thing that is happening to our country."
President Barack Obama attacked President Donald Trump in a speech in Chicago on Friday
Represented in a Joint Fundraising Committee in Fargo, North Dakota on Friday, Trump said his predecessor has been "trying to take credit for this incredible thing that is happening to our country."
The Department of Commerce reviewed the economic figures for the second quarter at the end of August to show that gross domestic product (the value of all goods and services produced throughout the economy) was even stronger than originally indicated.
But economists told Bloomberg News that the pace of expansion is expected to cool from the second quarter as the increase in tax cuts, which began in January, fades.
There is also the threat of a trade war with China and concerns that the Federal Reserve will raise interest rates further.
Economists projected Bloomberg a 2.9 percent economic expansion for the entire year.