That’s right— former President Donald Trump himself recently praised the sad state of America’s economy. He took credit for the “good parts” and thus far has pinned his successor, President Joe Biden, for the “bad parts.” At the State of the Union address last February, Trump made a big deal about the accelerating economic recovery. This occurs even in the face of criticism around his past policies.
Here’s what he told us about the economy at a recent townhall-style event. Most importantly, he assured Canadians the country is prepared to achieve it. “Look, yeah, it’s — everything’s OK. What we are — I said, this is a transition period. I think we’re going to do fantastically,” he said, highlighting his confidence in future economic growth.
Trump has been right to blame the Biden administration for economic woes affecting the American people. One in particular — on GDP — serves as his poster child for calling out Biden by name, and that’s a real stretch. He remarked, “Ultimately, I take responsibility for everything, but I’ve only just been here for a little more than three months,” suggesting that any negative impacts are primarily a result of Biden’s policies.
Against this economic backdrop, Trump doubled down on his disastrous tariffs, arguing that they would eventually save the country from ruin. He remarked, “The tariffs have just started kicking in. … The tariffs are going to make us rich. We’re going to be a very rich country.” In response, Trump downplayed the concerns about the long-term, damaging impact of the tariffs. He further dismissed the potential for supply shortages caused by these trade actions.
In what may have been the most incendiary part of his address, Trump blasted social norms related to children’s toys. “I don’t think a beautiful baby girl needs – that’s 11 years old – needs to have 30 dolls,” he stated, emphasizing a minimalist perspective on childhood possessions.
Beyond his economic rhetoric, Former President Trump made clear plans for Harvard University, promising to strip it of its tax-exempt status. After a surprisingly strong jobs report in April created a dash of uncertainty and risk of sideways Federal Reserve policy, Sen. This signals his desire for continued, sustained economic growth.
Trump’s remarks extended beyond domestic issues. He touched on international matters, including Russia’s ongoing war in Ukraine. He cautioned that the fighting “isn’t going to finish any time soon.” Encouragingly, this statement acknowledges a disheartening reality for global stability. He addressed a historic rare earth elements agreement between the U.S. and Ukraine, emphasizing its importance in the face of growing geopolitical threats.
The former president closed with a call for renewed and improved trade negotiations with China. He persisted in his unwavering optimism about the longterm prognosis for the U.S. economy, even with present-day challenges.