Donald Trump was watching his favorite news network this morning and decided to tweet out a false remark just because of what Fox News had reported. Trump took to Twitter to point out a fact he thought the media was underreporting: the decrease in the national debt in his first month.
“The media has not reported that the National Debt in my first month went down by $12 billion vs a $200 billion increase in Obama first mo[nth],” tweeted Trump.
This tweet comes after something Herman Cain said on Fox News’ Fox & Friends an hour before.
Trump is watching FOX. He just tweeted what Herman Cain said @ 7:36a:"Did you know the Natl Debt in Pres. Trump's 1st month went down 12B?" pic.twitter.com/klnKyXTVXU
— Steve Kopack (@SteveKopack) February 25, 2017
Here’s why that doesn’t make sense:
Firs of all, even if the debt has ticked down, this is mostly due to the federal government rebalancing its intra-governmental holdings.
And, if the debt did happen to have decreased the Trump administration had very little to nothing to do with it. This is because the federal government is still operating under the budget passed before Trump came into office.
And finally, if Trump wants to compare, when Obama came into office the economy was in much worst circumstances than it is today.
Back in January of 2009, when Obama became president, the country was in the middle of their worst economic crisis since the Great Depression.
Obama had to sign the American Recovery and Reinvestment Act in February 2009 which allocated $831 billion in federal funds to finance investment projects such as infrastructure.
But thanks to Obama and his administration the unemployment rate is at just 4.8% and the number of people claiming unemployment benefits nearing the lowest point in 40 years. Something Trump is also trying to take credit for.
Trump even noted these differences in a follow-up tweet.
“Great optimism for future of US business, AND JOBS, with the DOW having an 11th straight record close,” tweeted Trump. “Big tax & regulation cuts coming!”