CBS News is actively fact-checking statements made by speakers at the 2024 Republican National Convention, which is currently being held in Milwaukee, Wisconsin, until Thursday, July 18. The convention’s theme on Monday was the economy, leading to several statements being scrutinized for accuracy, particularly related to U.S. economic concerns. Notably, former President Donald Trump made a surprise appearance at the convention on Monday night.
In their live coverage of the RNC, CBS News delved into the claims made by various speakers during the event. One such claim that was fact-checked was made by GOP Sen. Katie Britt of Alabama, who stated that “Under President Trump, we had the strongest economy in history.” However, the fact check revealed that this statement was false. The claim that Trump presided over the best economy ever was contradicted by several economic metrics. For instance, GDP growth was higher under President Biden than it was under Trump, and there were other periods in history, such as the 1990s, 1960s, and 1950s, where GDP growth surpassed Trump’s numbers. The stock market also saw higher percentage gains during the first terms of Presidents Obama, Clinton, and Eisenhower compared to Trump. Additionally, while homeownership did increase under Trump, it did not reach the peak levels seen in 2004. Furthermore, the national deficit reached a two-decade high during the Trump administration, and federal debt increased significantly.
Despite these metrics, wages did increase and inflation remained low during Trump’s presidency, with real wage growth being the best in recent history. Unemployment also reached historic lows during Trump’s term, although it was not the lowest ever recorded.
Another claim that was fact-checked was made by Virginia Gov. Glenn Youngkin, who stated that “Women, Black Americans, Hispanic Americans, Asian Americans all saw record low unemployment under President Donald J. Trump.” The fact check revealed that while these demographics did see low unemployment rates under Trump, similar rates were also observed during Biden’s administration. Unemployment rates for these groups varied over time and were not exclusively low under Trump.
Additionally, Youngkin’s claim that Trump’s presidency had high growth and low inflation, while Biden’s presidency had low growth and high inflation, was deemed misleading and requiring context. While inflation remained low during Trump’s term, it escalated under Biden, reaching a peak in June 2022. However, economic growth under Biden’s presidency has been stronger, with GDP growth averaging 3.4%.
Sen. Marsha Blackburn’s assertion that Biden would let Trump’s 2017 tax cuts expire, leading to the biggest tax increase in U.S. history, was labeled as misleading. The Biden administration has proposed extending certain tax cuts for families earning under $400,000 annually and aims to raise taxes on corporations and high-income earners.
Lastly, Blackburn’s claim that Biden hired 85,000 IRS agents to harass working Americans was deemed false. The Inflation Reduction Act of 2022 did provide funding for the IRS, potentially leading to an increase in employees, but the purpose was to target tax cheats, not hard-working Americans.
In conclusion, fact-checking plays a crucial role in verifying the accuracy of statements made by political figures, especially during events like the Republican National Convention. By providing context and scrutinizing claims based on factual data, news outlets like CBS News aim to ensure that the public receives accurate information to make informed decisions.
