Americans are enjoying the best economy "EVER," says President Donald Trump, with trademark hyperbole.
Trump's tendency to take good economic news and wildly exaggerate it is on display in tweets self-celebrating 500 days in office.
His boast of record achievements on the economy and jobs ignores the Roaring Twenties, the war-time boom in the 1940s, the 1990s expansion and other times when unemployment was lower than now, economic growth was higher than now, and brisk productivity made the U.S. the world's economic powerhouse.
TRUMP: "This is my 500th. Day in Office and we have accomplished a lot - many believe more than any President in his first 500 days. Massive Tax & Regulation Cuts, Military & Vets, Lower Crime & Illegal Immigration, Stronger Borders, Judgeships, Best Economy & Jobs EVER, and much more." — tweet Monday.
THE FACTS: Although he is crowing first and foremost about the 3.8 percent unemployment rate in May, plenty of economic challenges remain: Inequality is a problem, housing costs are jumping, many baby boomers lack sufficient retirement savings and student debt is restricting the choices of recent college graduates. Overall economic growth has yet to show it can sustain growth in excess of 3 percent as Trump has promised.
Economists generally describe the U.S. economy as healthy for the moment, but they're naturally cautious about claiming that it's without weaknesses.
ReAD MORE: AP FACT CHECK: Trump says economy best 'EVER.' It's not.
Trump's tendency to take good economic news and wildly exaggerate it is on display in tweets self-celebrating 500 days in office.
His boast of record achievements on the economy and jobs ignores the Roaring Twenties, the war-time boom in the 1940s, the 1990s expansion and other times when unemployment was lower than now, economic growth was higher than now, and brisk productivity made the U.S. the world's economic powerhouse.
TRUMP: "This is my 500th. Day in Office and we have accomplished a lot - many believe more than any President in his first 500 days. Massive Tax & Regulation Cuts, Military & Vets, Lower Crime & Illegal Immigration, Stronger Borders, Judgeships, Best Economy & Jobs EVER, and much more." — tweet Monday.
THE FACTS: Although he is crowing first and foremost about the 3.8 percent unemployment rate in May, plenty of economic challenges remain: Inequality is a problem, housing costs are jumping, many baby boomers lack sufficient retirement savings and student debt is restricting the choices of recent college graduates. Overall economic growth has yet to show it can sustain growth in excess of 3 percent as Trump has promised.
Economists generally describe the U.S. economy as healthy for the moment, but they're naturally cautious about claiming that it's without weaknesses.
ReAD MORE: AP FACT CHECK: Trump says economy best 'EVER.' It's not.
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