Growth Of Productivity Is Not As Good As Trump Claims

While in Davos a few days ago, Donald Trump claimed:

“The United States is in the midst of an economic boom the likes of which the world has never seen before.”

The charts above (from The New York Times) shows that is a lie. The top chart shows the quarterly growth of Gross Domestic Product (GDP). The second chart shows the yearly growth of GDP.

Note that while there is still positive growth, that growth has slowed -- and for the last three quarters has barley topped 2%. It was also only slightly more than 2% for the entire year of 2019. That is far from "an economic boom the likes of which the world has never seen before".

This is just more proof of the failure of the Trump/GOP tax cuts. They were supposed to provide enormous economic growth and higher wages for workers. They did neither.