To the Editor:
It's time to take stock of what Donald Trump said he would do if elected and what he has actually done.
January, 2016: "I am not going to let Wall Street get away with murder. Wall Street has caused tremendous problems for us." In his inaugural address: "We will build new roads and highways and bridges and airports and tunnels and railways across our wonderful nation."
What he actually did: Trump handed a financial bonuses to Wall Street, corporate America and the financial elite, but he never made any serious effort to create middle-class jobs by investing significantly in rebuilding America's aging, pothole-filled infrastructure. Forbes' richest 400 Americans made $240 billion in 2019 alone.
Trump promised a 4% to 5% annual growth in the economy. His best year was 2018 with a growth of 3.18%, but his other two years were a bit over 2%, no better than Obama.
Trump promised a balanced budget in five years. Instead, the red ink shot up by $984 billion in 2019 and added $3.3 trillion to the deficit for fiscal year 2020.
Trump promised to wipe out the $19 trillion national debt in eight years. Instead, that debt ballooned to $23.4 trillion before coronavirus and $26.7 trillion today.
On Oct. 14, 2016, Trump promised to create 25 million jobs over 10 years. He added about 6.8 million in his first three years. By comparison, Obama added 8.1 million his first three years. Now, with Trump's mishandling of the coronavirus, his record to date is a NET LOSS of 4.7 million jobs.
On Dec. 1, 2016, Trump promised to bring back 7.7 million manufacturing jobs. At its high water mark last February, Trump's formula had added just 483,000 manufacturing jobs, and since coronavirus, 237,000 of them have been lost.
On Aug. 19, 2016, Trump said, "Many, many workers in our country are making substantially less money today in real wages than they did eighteen years ago. We're going to get wages up."
The truth is, wages have gone up, but so has inflation, meaning the REAL wage gains under Trump have been less than half of 1 percent, more than offset by the loss of job benefits.
On Oct. 17, 2017, Trump said middle-class tax cuts would "benefit working families while ensuring the wealthy pay their fair share. My council of economic advisors estimate this change alone will give the typical American household a $4,000 pay raise."
The truth is, roughly two-thirds of Americans got a tax cut averaging $1,000, although close to 10% had to pay higher taxes. Most of Trump's tax cuts went to the top earners — 17% went to the highest earning 1% and 60% went to the highest earning 20%.
Trump made other promises, none of which he kept, but voters should keep these in mind when the POTUS brags about how he's done more for us than any other president.