With a lot of talk about performance of the economy in Trump I and under President Biden, I just wanted to get some facts out there.
2017 was a year where President Trump was enacting his tax cuts, so the real impact was on 2018 and 2019. Then Covid hit, so you throw out 2020 and 2021.
The inflation figures speak for themselves, and, save for 2020, we have been in an extended period of low unemployment.
GDP [Bureau of Economic Analysis…BEA]
2018…2.9 percent
2019…2.3
2022…2.5
2023…2.9
2024…2.8
CPI [Bureau of Labor Statistics…BLS]
2017…2.1 percent
2018…1.9
2019…2.3
2020…1.4
2021…7.0
2022…6.5…peak 9.1 (June)
2023…3.4
2024…2.9
May 2025…2.4
National Unemployment rate [Bureau of Labor Statistics…BLS]
12/2016…4.7 percent
12/2017…4.1
12/2018…3.9
12/2019…3.6
12/2020…6.7
12/2021…3.9
12/2022…3.5
12/2023…3.8
12/2024…4.1
Back in a few weeks.
Brian Trumbore
