America's ongoing expansion is now the longest on record, a whopping 121 months of economic growth. But what else can we say about it? For sure not this: "The Economy is the BEST IT HAS EVER BEEN! Even much of the Fake News is giving me credit for that!," as President Trump tweeted on Tuesday with typical subtlety and nuance.
Even by the forgiving standards of political puffery, including of the extreme Trumpian variety, this is a false claim. Yes, it's a strong economy, but one that's more boomlet than boom. For instance: During the 120-month, 1990s expansion that spanned the Bush I and Clinton presidencies, the U.S economy grew by 43 percent in real terms vs. 24 percent under Barack Obama and Trump. And while the jobless rate is a touch lower today, wage growth, productivity growth, and workforce participation were all higher back then.
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