Alongside his promise of 25 million jobs, Trump has also said he can get America growing at 4% a year again. That would be almost double what Obama achieved. The U.S. hasn't seen consistent 4% economic growth since the tech boom of the late 1990s.
Of course they matter. Trade deficits arise when we import more than we export. Easy said. It's a tad bit more complicated. When we keep incurring these deficits, year after year, we use our domestic currency (the $) to pay for those imports. This results in our trade partners getting a considerable supply of those $.
But Trump doesnât make such specifications. Except, this time, he did. âWe have nearly an $800 billion annual trade deficit, in goods, with the rest of the world,â he said. You didnât notice? You donât care about this tiny technical thing? Iâm still claiming it as a victory. When youâre fact-checking Donald Trump, you take what you can get.