Donald Trump lies. Telling untruths is not merely second nature to him; it is of the first order, automatic. He lies as naturally as he breathes.
From his claim to being a great businessman and dealmaker to calling himself not the worst president in U.S. history — which he is, by far — but the best, Trump has spewed a firehose of falsehoods to the public. But he has never reserved his lying only for his political opponents.
He has lied to his MAGA followers about, well, everything — bringing grocery prices down, ending this or that war “on day one,” the value of his cryptocurrency offerings, creating any number of “unbelievable” plans to fix our infrastructure, our healthcare, our economy. All those “beautiful” plans that were never plans but so-called concepts of plans. You know, back-of-the-envelope musings on critical national issues while heading off for another taxpayer-funded golf outing.
Suffice it to say: If you can name it, Trump has lied about it.
Journalists often write of Trump’s Big Lie about how the 2020 election was stolen from him, but that is only one of the big lies Republicans tell, and it is not the one that most adversely affects working Americans.
With Trump’s wild mismanagement of the economy, public sentiment is finally changing. More people now trust Democrats on the economy, and for good reason.
The biggest lie is the one Republicans have told for more than half a century — about how they are better than Democrats at managing the economy. A majority of Americans have believed this for my whole lifetime. But with Trump’s wild mismanagement of the economy, public sentiment is finally changing. More people now trust Democrats on the economy, and for good reason.
The idea of telling a lie so massive that not many people would think that it could be made out of whole cloth comes from Adolf Hitler’s 1925 book “Mein Kampf.” The failed artist and future German führer thought that most people would not believe that someone “could have the impudence to distort the truth so infamously.” This theory was later put to use by Joseph Goebbels, the Third Reich’s propaganda minister, to scapegoat and dehumanize Jewish people, and it led directly to the Holocaust — a horrible truth many Nazi-curious conservatives love to deny.
Trump, a fanboy of ruthless dictators, was determined to stay in office after losing the 2020 election decisively in both the Electoral College and the popular vote to Joe Biden, and he naturally turned to Hitler’s technique. (I say “naturally” because, according to his first wife Ivana, he kept a volume of Hitler’s speeches by his bedside. Also, after Trump’s first term, his former White House chief of staff Gen. John Kelly warned Americans that Trump very much admired Hitler.)
The Republican’s lie on the economy is such a whopper — so “colossal,” as Hitler put it — that it has defined American politics for decades. That’s the ruse of the colossal lie, which is not merely the propagandist’s use of repetition (Trump’s main go-to move) but a sort of verbal legerdemain. People are cunningly led to disbelieve what they see with their own eyes and feel in their own pocketbooks.
As we head into the November midterms, and as candidates begin to emerge in the 2028 presidential race, it’s a good time to refresh our memories of how costly the GOP’s colossal lie about trickle-down economics, which began with President Ronald Reagan, has been for Americans.
Running for the presidency, the former Republican California governor and B-list actor said that giving tax breaks to the wealthy and corporations would “trickle down” benefits to the working people of America. This sounded good in theory, but it was “voodoo economics” in practice, as George H. W. Bush, Reagan’s opponent in the 1980 Republican primaries, noted — until he was chosen as the Californian’s running mate).
In his two terms, Reagan’s tax cuts increased the national debt from $1.1 trillion to $2.7 trillion. But that’s nothing compared to Trump. While occupying the White House, the president has increased the national debt by a staggering $11.6 trillion so far, an increase of more than 25%.
As I’ve written before, Democratic presidents have almost always done better — I should say much better — than Republican presidents in managing the U.S. economy. According to a 2016 academic study by Alan S. Blinder and Mark W. Watson, this was true from the Truman administration through the first Obama term across all major macroeconomic measures: job creation, unemployment, national debt, GDP growth, growth in real wages and controlling inflation.
As Blinder and Watson concluded:
here is a systematic and large gap between the U.S. economy’s performance when a Democrat is president of the United States versus when a Republican is. Democrats do better on almost every criterion.
We can tack on Biden’s term as well, which, amid the global inflation spikes caused by the COVID-19 pandemic shutting down supply chains, recovered far better than any other advanced country. As The Economist put it at the time, the quickly recovering economy under Biden was “the envy of the world.” People may not have felt “the vibe,” but things were on the right track by all standard economic measures.
In addition, in 2021, the Biden administration’s $1.2 trillion Infrastructure Investment and Jobs Act was passed with bipartisan support to rebuild or upgrade the nation’s aging transportation, water and broadband systems. The following year, the $280 billion CHIPS and Science Act was enacted and called for microchip manufacturing to be started up in rural areas, mostly Republican-voting districts. Unlike Trump, Biden understood that the president is charged with working on behalf of all Americans, not just those who voted for him.
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Since the Republican President Dwight Eisenhower, about 70% of all jobs have been created during Democratic administrations, and in recent decades, the percentage is more than 90%. Of the 11 recessions the country suffered between 1953 and 2020 — when the pandemic began — 10 began while a Republican was in the White House.
What Blinder and Watson studied was independently updated in 2024 with similar findings of a “striking” positive difference on the U.S. economy when a Democrat is in the White House. One doesn’t need academics or economics experts to tell that Republicans never look out for the interests of the working class, or even the middle class. But for those who still like evidence, a series of charts by Steven Rattner and graphic artist Taylor Maggiacomo tell the story of Trump’s promises on the economy and his results so far.
What these charts cannot show is the long-term economic disaster of lost markets for farmers and U.S. manufacturers caused by Trump’s tariffs and his disparagement of our trading partners, or what it will mean to our economy as countries move to de-Americanize their tech — which they must do to protect themselves from Trump.
Democrats are not only better stewards of the economy, but they also want the wealth created by American workers to be shared more equitably and for the social safety net to be made more robust, so Americans can better weather any financial vicissitudes.
Although he had once headed the Screen Actors Guild, Reagan kicked off the GOP’s modern union-busting zeal, treating union members as badly as he did university kids, our infrastructure of the future, as governor of California. This points to another factor that macroeconomic statistics do not tell us: Democrats are not only better stewards of the economy, but they also want the wealth created by American workers to be shared more equitably and for the social safety net to be made more robust, so Americans can better weather any financial vicissitudes.
Democrats also understand that the economy depends on healthy, educated, informed workers, and that the performance of parents in the workforce increases when they have access to affordable quality childcare.
Do I need to point out that Republicans have little to no desire to help workers and those in need, outside of, say, charitable contributions or church work? Indeed, rather than looking out for the poor or loving the stranger — and growing increasingly annoyed by those darned Biblical verses about a camel passing through the eye of a needle — the wealthy and powerful long ago undertook to remake American Christianity.
As Salon’s Amanda Marcotte recently noted, the right’s perversion of the message of Jesus knows no bounds; to justify their greed and avarice, they are taught that it is inconceivable to be Christian and vote other than Republican, which is yet another colossal lie by the GOP.
Public sentiment about which party does best in managing the economy has finally shifted to Democrats in the face of Trump’s gross mismanagement of the recovering Biden economy. Trump’s tax cuts, tariffs, attacks on education and journalists, his disparagement of historical allies and his war of choice with Iran have undermined nearly every aspect of what has made the United States prosperous.
But it is up to journalists to regularly tell this truth to the public in the face of the colossal Republican lie about the economy that began with Reagan, a man who had the sheer audacity to claim that the budget deficit was affected by restaurant servers not declaring their tips.
Today’s Republicans are even more Dickensian, focused as they are on deporting hard-working immigrants who long to be American citizens and taking healthcare and even food stamps away from struggling American families.
Why are Republicans terrible with the economy? Because they do not believe in government — unless it helps them.
