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Taking a look back at Donald Trump’s first term in office
The Street
Follow
2/15/2025
TheStreet’s Conway Gittens takes a look back at how the economy performed under Donald Trump’s first term.
Category
🥇
Sports
Transcript
Display full video transcript
00:00
Are you ready for Trump Money 2.0?
00:02
While past performance doesn't mean we're going to see
00:04
a repeat the second time around,
00:06
it is still good to remember what happened
00:08
during Trump's first term as president.
00:10
So, come on, let's take a look back.
00:17
The stock market fared well
00:18
under President Trump's first go.
00:19
The Dow Jones Industrial Average rallied 51%.
00:23
That works out to an annualized gain of 11.8%.
00:27
That's pretty impressive for a Republican president.
00:29
The last time a GOP White House had numbers
00:31
anywhere as good was way back in the 1920s
00:35
when Calvin Coolidge was in charge.
00:37
But how does that stack up against the Dems?
00:40
President Obama walked out of the White House
00:42
with a 12.1% annual gain for the Dow.
00:46
President Clinton had the tech boom to thank
00:48
for annualized gains of 15.9%.
00:52
Okay, back to the Trump years now.
00:54
The economy lost 2.7 million jobs
00:57
during Trump's first term as president,
00:59
partly due to COVID.
01:01
Under the Biden administration,
01:02
the economy added more than 60 million jobs.
01:06
Bringing manufacturing jobs back to the US
01:09
was a key focus of Trump's first time in office.
01:12
He did have some success, but it didn't last for long.
01:15
Factory jobs peaked at 12.8 million
01:18
and then dropped to 12.12 million
01:20
by the time he waved goodbye before boarding Marine One.
01:29
Tariffs.
01:30
Now that's the word Trump loves to hear.
01:32
His first round of tariffs tallied up to $380 billion.
01:37
According to economists at the Cato Institute,
01:39
that resulted in an average price hike
01:42
of $830 per US household per year.
01:47
His numbers are better when it comes to inflation.
01:49
Since the supply chain pandemic-induced inflation surge
01:53
happened mostly after he left,
01:55
Trump's average year-over-year inflation rate
01:58
comes in at just 2.4%.
02:01
That's hotter than Obama,
02:03
who had one of the lowest of any term on record,
02:06
but lower than Biden's 5.2%.
02:10
Oof, we're still feeling pain of that.
02:12
Just look at the price of rent and eggs.
02:15
Here's a number that might bring you joy.
02:18
8.4%.
02:20
That's how big of a raise Americans got
02:23
during Trump's first term, and that's after inflation.
02:27
Taxes, however, paint a different picture.
02:29
Despite the Trump tax cuts,
02:31
the average tax return went down to $2,549
02:37
by the time he left office from $2,860 a year
02:42
before he got there.
02:44
Now, while all presidents have been known
02:47
to stretch the truth or twist facts,
02:49
here's one final number just for fun.
02:52
By the end of his first term,
02:54
Donald Trump made 30,573 false or misleading claims,
03:00
according to The Washington Post.
03:02
That works out to 21 falsehoods or half-truths
03:06
for every day he was in office during that first term.
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