Trump Touts Economy; Previews New Stimuli

Today, President Donald J. Trump returned to Michigan to underscore the progress made in revitalizing our economy, celebrate the resurgence of the American auto industry, and chart the path forward to deliver continued relief to American families.

President Trump heralded the economic revival after one year back in office. “After less than 12 months in office, I’m back in Michigan to report to you on the strongest and fastest economic turnaround in our country’s history.” (Watch)   “Biden gave us a colossal stagflation catastrophe, but my Administration has rapidly and very decisively ended that. We have quickly achieved the exact opposite of stagflation — almost no inflation and super high growth.” (Watch)   “After real wages plummeted by $3,000 under Sleepy Joe Biden, real wages are up by $1,300 in less than one year under President Trump.” (Watch)   “We have gas stations in the Detroit area where you can fill up for less than $2.30 a gallon — whereas two years ago, it was $4.50.” (Watch)   “The stock market is now the highest in history… boosting 401(k)s and retirement accounts for millions and millions of Americans.” (Watch)   “The Trump Tariffs have delivered us trillions of dollars of new investment… They brought hundreds of billions of dollars pouring into the United States Treasury, helped curb inflation, and helped cut the federal budget deficit by a staggering 27%.” (Watch)   “Under Biden, we had the highest trade deficit ever recorded — losing more than $1 trillion every single year... We’ve slashed that gaping trade deficit by, in a short period of time, 62%.” (Watch)   “Just as I promised you, I’ve imposed a 25% tariff on all foreign automobiles… U.S. auto factories are now seeing more than $70 billion of new investment.” (Watch)

President Trump laid out bold new plans to ensure all Americans feel the benefits of the Trump Economy. “Next week, I’m going to provide much more detail about our housing policies so that every American who wants to own a home will be able to afford one… This will include a ban on large institutional investors buying up single-family homes all over the country... I’ve also announced that the U.S. government is purchasing $200 billion dollars of mortgage bonds to bring down mortgage rates.” (Watch)   “I proudly called for credit card companies to cap interest rates at 10% for one year because they’re getting 28% and 30% and 30% — and it’s unfair. The rates are way too high.” (Watch)   “To provide further relief to hardworking Americans, we will also be confronting one of the biggest factors in driving up prices — the monstrosity known as the Unaffordable Care Act… Later this week, I’ll announce our healthcare affordability framework that will reduce premiums for millions.” (Watch)

President Trump toured the manufacturing home of Ford’s iconic F-150 truck in Dearborn. Workers erupted in applause and showed off the plant’s booming production as company leaders confirmed the positive impact of President Trump’s agenda: Ford CEO Jim Farley: “We’re adding a combustion truck, an affordable one, in Tennessee… That’s what these policies are doing for Ford. We’re going to actually expand one of our existing plants and make a different kind of truck there.”   Ford Executive Chairman Bill Ford: “We have a great relationship with the President and his whole staff. They’ve been great to work with for us. He, personally, is incredibly responsive every time we need something or call — and we very much appreciate it. We couldn’t be more excited. We’re adding market share. We’re growing as a company. We’re adding jobs…”

President Trump addressed the Minnesota Somali Fraud Scandal. “Another urgent priority for bringing down the cost of living is to stop the colossal fraud that is bleeding American taxpayers absolutely dry… Our country has been losing over half a trillion dollars to fraud every single year, but those days are over.” (Watch)   “I’m creating a brand-new division at the Department of Justice — a legal strike force led by a really tough, smart, new [assistant] attorney general for fraud… We intend to imprison any fraudster, politician, or public official involved in these sick plots to loot and pillage our country.” (Watch)   “We’re also going to revoke the citizenship of any naturalized immigrant — from Somalia or anywhere else — who is convicted of defrauding our citizens.” (Watch)   “We’ve frozen all children’s payments to those states… We will now require proof of attendance in order to receive federal funding for childcare... Additionally, from this moment forward, if you’re on public assistance, like almost all Somalis are... You can’t wire money out of the country back to your bank account from where you came.” (Watch)   “Starting February 1, we’re not making any payments to ‘sanctuary’ cities or states having ‘sanctuary’ cities because they do everything possible to protect criminals at the expense of American citizens — and it breeds fraud and crime and all of the other problems that come.” (Watch)   “As we liberate our country from this cultural scourge and the plague of corruption and fraud, we’ll rediscover the natural energy and native spirit that truly makes America great again.” (Watch)