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Economy

Scorecard

true
0% 305 Checks
mostly true
0% 429 Checks
half true
0% 470 Checks
mostly false
0% 321 Checks
false
0% 372 Checks
Pants on Fire
0% 89 Checks
For more details, see the Principles of PolitiFact

All Fact-checks for Economy

Donald Trump
Donald Trump
stated on July 1, 2026 in remarks to reporters:
"You know why I'm profiting? Because the stock market's going up. ... I'm profiting because I have a lot of money and a lot of cash."
Mostly False
By Louis Jacobson • July 7, 2026
Mike Collins
Mike Collins
stated on June 17, 2026 in an advertisement:
U.S. Sen. Jon Ossoff “cast the deciding vote for the inflation disaster,” referring to the 2022 Inflation Reduction Act.
False
By Ben Brasch • June 29, 2026
Donald Trump
Donald Trump
stated on June 23, 2026 in a speech in Macungie, Pennsylvania:
In the past 13 months, “The typical 401(k) … is up almost $30,000.”
Mostly False
By Louis Jacobson • June 25, 2026
Donald Trump
Donald Trump
stated on May 4, 2026 in a White House event:
“Consumer confidence is way up."
False
By Louis Jacobson • May 6, 2026
Democratic National Committee
Democratic National Committee
stated on April 3, 2026 in a post on X:
President Donald Trump's proposed 2027 military budget would be "the largest spending increase since World War II.”
Mostly True
By Zoe Weyand • April 20, 2026
Blake Gendebien
Blake Gendebien
stated on January 30, 2026 in an X post:
Milk prices “currently are no higher than they were in 1980’s.”
Mostly True
By Mary McNaughton, Emma Gavazzi • March 31, 2026
Donald Trump
Donald Trump
stated on March 27, 2026 in a speech to a Saudi investment conference:
“More Americans are working today than at any time in the history of our country.”
Half-True
By Louis Jacobson • March 31, 2026
Donald Trump
Donald Trump
stated on January 27, 2026 in remarks at a restaurant in Iowa:
“We right now have more factories and plants being built in our country than we've ever had before.”
Half-True
By Louis Jacobson • February 9, 2026
Gretchen Whitmer
Gretchen Whitmer
stated on February 2, 2026 in a Substack:
Under Michigan Gov. Gretchen Whitmer, there are “fewer families living in poverty” than under her predecessor.
Half-True
By Amy Sherman • February 6, 2026
Donald Trump
Donald Trump
stated on January 11, 2026 in remarks to reporters:
Credit card companies would be “in violation of the law” if they don’t cap interest rates at 10% by Jan. 20.
False
By Louis Jacobson • January 12, 2026
Donald Trump
Donald Trump
stated on November 6, 2025 in remarks at a dinner:
Walmart’s 2025 package of Thanksgiving dinner ingredients shows a “25% reduction in costs for Thanksgiving between (President Joe) Biden and me.”
Mostly False
By Louis Jacobson • November 14, 2025
Scott Bessent
Scott Bessent
stated on October 26, 2025 in an interview on NBC's "Meet the Press":
"Overall, the inflation since President Trump” took office “has come down."
Half-True
By Louis Jacobson • October 29, 2025
X posts
X posts
stated on September 19, 2025 in an X post:
Thirty percent of U.S. medical residents are international medical graduates, and 10,000 of 43,000 residency spots are filled by H-1B visa holders.
Half-True
By Maria Briceño • October 2, 2025
Donald Trump
Donald Trump
stated on September 19, 2025 in an exchange with reporters in the White House:
The U.S. currently has “no inflation.”
False
By Louis Jacobson • September 24, 2025
Donald Trump
Donald Trump
stated on August 26, 2025 in a Cabinet meeting:
“Groceries are down. Energy is way down. ... Was $4 and $5 for a gallon of gas.”
Half-True
By Louis Jacobson • September 5, 2025
Donald Trump
Donald Trump
stated on August 26, 2025 in a Cabinet meeting:
“The average American worker has already seen a $500 wage increase this year.”
Half-True
By Louis Jacobson • September 5, 2025
Donald Trump
Donald Trump
stated on August 5, 2025 in an interview on CNBC:
Bureau of Labor Statistics employment numbers “were rigged” when the agency revised them “down by almost 900,000 jobs” after the 2024 election.
Pants on Fire!
By Louis Jacobson • August 5, 2025
Ritchie Torres
Ritchie Torres
stated on July 20, 2025 in an interview on CNN's "State of the Union":
“Since Donald Trump's inauguration, we have seen an 11% decline in the value of the dollar, the steepest decline in more than a half a century.”
Mostly True
By Louis Jacobson • July 25, 2025
Gavin Newsom
Gavin Newsom
stated on July 14, 2025 in a podcast interview:
“California provides $83.1 billion more than we receive from the federal government. Texas? Receives $71.1 billion more than they provide to the federal government. 71% of the U.S. GDP comes from blue counties.”
Mostly True
By Louis Jacobson • July 18, 2025
Kevin Hassett
Kevin Hassett
stated on July 6, 2025 in an interview with CBS News' "Face the Nation":
A Congressional Budget Office estimate of people who stand to lose insurance from President Donald Trump’s tax and spending law said “about 5 million … have other insurance,” so “if they lose one (type of coverage), they're still insured.”
Mostly False
By Louis Jacobson • July 11, 2025
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Latest promises about Economy

Donald Trump
Donald Trump
Add a 60% tariff on goods from China
Supreme Court restricts president’s ability to unilaterally set high Chinese tariffs | February 20, 2026
Donald Trump
Donald Trump
Add a tariff of 10% to 20% to all nondomestic goods sold in America
Supreme Court deals setback to across-the-board tariffs | February 20, 2026
Donald Trump
Donald Trump
Institute a reciprocal tariff policy
Supreme Court decision throws reciprocal tariff policy for another loop | February 20, 2026
Donald Trump
Donald Trump
Adopt a four-year plan to phase out Chinese imports
Trump has not released a four-year plan to phase out China imports | February 19, 2026
Donald Trump
Donald Trump
Create deregulated “freedom cities” on federal land
Despite some outside activity, Trump hasn’t moved to advance ‘freedom cities’ | February 10, 2026
Donald Trump
Donald Trump
Put a temporary cap of 10% on credit card interest rates
Trump calls for 10% cap, but legislation hasn’t gone anywhere | January 29, 2026
Donald Trump
Donald Trump
Reduce prices for groceries, cars, and other consumer items
Inflation persists for a wide range of items in first year of second Trump term | January 20, 2026
Donald Trump
Donald Trump
End taxation on overtime
Overtime pay receives tax break in megabill | July 15, 2025
Donald Trump
Donald Trump
Restore the state and local tax deduction (SALT)
Trump megabill temporarily increases state and local tax break | July 15, 2025
Donald Trump
Donald Trump
Make interest on car loans tax deductible
Trump megabill includes tax break for car loans | July 14, 2025
Donald Trump
Donald Trump
End taxation on tips
Trump’s tax bill includes broad exclusion for tip income. It expires in 2028 | July 14, 2025
Donald Trump
Donald Trump
Reduce corporate tax rate for companies making products in the U.S. to 15%
Trump megabill includes benefits for domestic investment, but no corporate rate cut | July 14, 2025
Latest promises about Economy