Donald Trump claims credit for economy, jobs in New York speech

Despite a slowing ecomy, President Donald Trump has declared that United States was enjoying a "boom likes of which we have never seen before!" Trump told Ecomic Club of New York that "we have delivered on our promises  and exceeded our expectations by a very wide margin."

His remarks were delivered to an audience of powerbrokers and affluent business leers on Tuesday, but his political future may depend on wher voters in Midwest and Sunbelt believe that he has fought for ir own financial well-being.

president faces reelection next year in a relatively healthy ecomy, yet student debt, high medical costs, and rising inequality have given Democrats seeking presidency inros to say that only a privileged few have genuinely benefited from Trump era.

"Our democracy has been hijacked by rich and powerful. y make it work for mselves, and y leave everyone else behind," Massachusetts Sen. Elizabeth Warren told a major Democratic Party fundraiser and dinner in Iowa earlier this month.

Despite his congratulatory rhetoric, Trump has t fulfilled many of his grandiose promises for ecomy.

Growth in most recent quarter slowed to an annualized 1.9%  a far cry from gains of "4%, 5% and even 6%" that Trump said his 2017 tax cuts would make possible. president has t been able to boost US steel industry with tariffs, while coal has been supplanted as an energy source by natural gas.

Unemployment is near a five-dece low of 3.6 per cent, a point of pride for Trump. job gains defied forecasts of many government ecomists who anticipated less hiring due to an aging population. Yet falling jobless rate is also a continuation of a trend that started during Barack Obama's presidency as ecomy has been expanding for more than a dece, longest period of growth in US history.

" ecomy was growing before he took office," Andy Green, managing director of ecomic policy at Center for American Progress, a liberal think tank. "It was creating jobs before he took office. It's been creating fewer jobs since he took office. stock market has gone gangbusters. What he has done is deliver for corporate interests that put him in office."

president took a combative tone at times, dubbing China a cheater on tre even as he seeks an initial settlement to calm an 18-month tre war that has hurt US manufacturing output as tracked by Federal Reserve and industry groups.

ministration has launched tariffs and threatened ditional import taxes, disrupting supply chains even as overall US tre deficit has increased 15 per cent during Trump ministration.

"I will t say word 'cheated,' but body has cheated better than China," said Trump.

Trump also attacked Federal Reserve for t slashing a benchmark interest rate to a near-zero, a level that historically would have signaled an ecomy in crisis. But president sees European nations with negative interest rates on ir government debt and views that as free money that puts United States at a competitive disvant.

"Give me some of that money," he said. "I want some of that money." president also went after Democrats who have favored plans to dress inequality and climate change, suggesting that that ecomy would be crushed if he lost re-election in 2020.

" people we're running against are crazy," Trump said. "y're crazy." He dressed club in same midtown Manhattan ballroom where he celebrated his election to White House in 2016.

When applause was slow in coming after Trump declared he h delivered on his promises, president jokingly said, "Thank you. I was waiting for that. I almost didn't get it."

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