>> Charlie Kirk tweeted and then later deleted something about how Donald Trump is so great,
he's really improved the economy.
And then he realized, I've made a big mistake here.
So let me give you the tweet in question here.
He basically tweeted, the US economy just passed a record with 121 straight months of
historic growth.
If any of the 25 democrats running are elected in 2020, they will break that 121 month streak.
Donald Trump is delivering results for America.
Don't let democrats destroy them.
So you could probably figure out why he deleted it.
It's because Trump has only been in office for about 29 months.
>> Yeah.
>> So- >> I'm doing the math now.
Yeah, that means 92 of those months were under a different president.
Who was president before Trump?
Right, Barrack Obama, the one they said was a terrible president, couldn't do anything
right, and apparently started this unbelievable streak that Charlie Kirk is now bragging about.
And so, if his theory is that Democrats would scrub the streak, well, then I wouldn't have
gone around talking about the 121 months where it was largely under Democrats that the streak
started, and continued for an extraordinarily long period of time, and handed off to Trump.
>> Now, since we are an honest show that actually wants to reveal the truth about what the economy
looks like under both Obama and Trump, we're gonna go ahead and dunk on Obama as well,
or at least, I am.
>> Mm-hm.
>> Because the truth is, the real economy has sucked for a long time for the vast majority
of Americans.
It doesn't matter if we're talking about Obama or Trump.
Trump has exacerbated the issue by giving the wealthy $2 trillion in tax cuts But while
the economy did see an improvement in some ways under the Obama administration, again,
the vast majority of Americans are suffering right now.
A lot of our economy is propped up by two things, consumer debt and also corporate stock
buybacks.
So let me give you some of those numbers.
US consumer debt actually hit $14 trillion in the first quarter of 2019.
Now, that sounds like a lot of money, right?
And you might be wondering, well, if it's 14 trillion now, what was consumer debt like,
I don't know, maybe back in 2007 or 2008?
In 2008, consumer debt was $13 trillion.
So the reason why I go back to that date is because, obviously, that's when the economy
collapsed, right?
So in terms of personal finances, Americans are doing worse today than they did during
the economic meltdown.
Also, the US economy under Trump has overseen a slow but steady economic expansion, albeit
one that started under President Barack Obama.
There is one major problem, though, that growth has mostly benefited the wealthiest Americans,
while average workers have barely seen their paychecks grow.
So more than a year after Trump signed the Tax Cuts for the wealthy, let's just keep
it real, economic data shows that the tax bills benefits to workers was largely a mirage.
In 2018, cash bonuses only gave workers an extra 2 cents in average hourly compensation,
and that's adjusted for inflation.
>> Yes, so look, of course that's true, wages have been down under Obama and Trump, and
they keep talking about how the economy has been doing well.
There are a couple metrics that they use including the stock market, and yes if you're in the
top 10%, not just the top 1%, you do have a lot of money in the stock market, you are
thrilled with how Obama managed the comeback of the stock market.
You're relatively happy that Trump has continued that so far, you're crossing your fingers,
right?
But for the rest of us, the other 90%, no, wages, they are as flat as they've ever been.
Wages have been flat for 40 years.
Obama didn't do much for it.
Most of the money in the recovery went to the top 1% under Obama, and Trump has been
an absolute disaster, and so almost all the money went to the 1% under Trump, and he thinks
that's not the bug, that's the feature.
Those are my friends, those are the people who helped get me elected by giving me money,
and that are now giving me money in unbelievable quantities.
So, yeah, we all got screwed, and they're all bragging about how wonderful the economy
is basically for them.
But in this case, Charlie Kirk is bragging in an amusing way because it was a cell phone,
obviously.
He apparently might live like a capitalist every day, but he does not live like a mathematician
every day.