How private equity firms make money offering high-interest loans to people needing cash

This story is extraordinary. Tim Geithner is at the top of this company. Things like this are why young struggling Americans are turning against corporate America—I saw it on the trail with Bernie in 2016 and you saw it Tuesday with @Ocasio2018 https://t.co/Xu9bgZr8ro

— Kasie Hunt (@kasie) July 2, 2018

Geithner was Secretary of the Treasury under Obama and should know better.

An explanation of the Supreme Court ruling against unions

The Supreme Court's decision is a major blow to the unions that represent teachers, firefighters, police officers, and other public employees throughout the United States.

But it also threatens the entire labor union movement. https://t.co/1jmH0cTbIx

— Vox (@voxdotcom) July 1, 2018

Trump administration report concludes tariffs will hurt the economy

The New York Times article states:”A White House economic analysis of President Trump’s trade agenda has concluded that Mr. Trump’s tariffs will hurt economic growth in the United States, according to several people familiar with the research.”

Kevin Hassett says on CNN he can't confirm or deny New York Times report that CEA buried report finding that tariffs hurt economic growth. He cites "executive privilege."

here's the NYT story: https://t.co/8wbi013azU

— Toluse Olorunnipa (@ToluseO) June 29, 2018

“How the Concentration of Opportunity Elected Trump”

Trump won in the places that are losing jobs. Clinton won in the places that are gaining jobs.

How the Concentration of Opportunity Elected Trump https://t.co/QTCyzlobHm

— Thomas Edsall (@Edsall) July 1, 2018

from the study:

“Donald Trump dominated in Opportunity-Falling America. If the 2016 election were held only in the 2,109 counties that lost businesses, Trump would have won by 3.5 million votes, 53.0-47.0%, and by an Electoral College landslide of 343-195.
Hillary Clinton dominated in Opportunity-Rising America. If the race were held only in the 1,029 counties that gained businesses, Clinton would have won by a commanding 6.4 million votes, 54.6-45.4%, and by a solid Electoral College margin of 286-252.

This electoral opportunity gap appears to be new. “

Trump administration lies about the deficit

The deficit is increasing. The Trump tax law generates less tax revenue. Just another Trump administration lie.

Larry Kudlow says the deficit is “coming down rapidly,” contradicting virtually all available data.

Deficit Jan to April 2018 = $161 billion
Deficit Jan to April 2017 = $135 billion https://t.co/HQoLDSdODU @JStein_WaPo

— Heather Long (@byHeatherLong) June 29, 2018

But Hassett was also lying, claiming that the deficit surge was because of spending; actually it's because revenue, especially corporate taxes, has plunged 1/ https://t.co/zEuAOZ5r7x

— Paul Krugman (@paulkrugman) June 30, 2018

Federal deficit by year:

2009: $1.4 Trillion
2010: $1.29 Trillion
2011: $1.29 Trillion
2012: $1.0 Trillion
2013: $679 Billion
2014: $484 Billion
2015: $438 Billion
2016: $585 Billion
2017: $666 Billion
2018: $804 Billion (projected)

My friend @larry_kudlow is lying. https://t.co/nti7otXX4W

— Keith Boykin (@keithboykin) June 29, 2018

Kudlow said deficit is “coming down rapidly.”

A couple days prior, fellow White House adviser Kevin Hassett said the deficit was “skyrocketing.” https://t.co/5owOE0vJ45

— Aaron Blake (@AaronBlake) June 30, 2018

Kudlow to FBN: "The deficit…is coming down. And it’s coming down rapidly."

This isn't accurate.

On a 12-month basis, the deficit as a share of GDP rose to 3.8% in May from 3.2% one year earlier. pic.twitter.com/2JhiPRyKX1

— Nick Timiraos (@NickTimiraos) June 29, 2018

ICYMI: America's debt is headed for the highest levels since World War II.

Current debt-to-GDP level = 78% (highest since 1950)
CBO projection for 2028 = 96%
By 2034, America's debt-to-GDP could surpass the peak of 106% recorded in 1946https://t.co/u2n41Dp7AC by @JStein_WaPo pic.twitter.com/E4qn7Jil8C

— Heather Long (@byHeatherLong) June 27, 2018

Kudlow says the rising deficit is falling, Mnuchin says tax cuts pay for themselves as Treasury boosts debt sales, Hassett defends tariffs but won’t show his study that shows they will blunt economic growth. https://t.co/f10IiqbyA8

— Alan Rappeport (@arappeport) June 30, 2018

HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA I’ll have the drugs he’s having HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA!!! https://t.co/tSRjcmFdQy

— Daniel W. Drezner (@dandrezner) June 29, 2018

The Trump administration make stuff up about the economy

Showing the emperor the success he wants to see, never mind the reality https://t.co/PYH0Qx5I11

— Paul Krugman (@paulkrugman) June 30, 2018

Economic growth was below expectations

Economic growth well below expectations in first quarter of 2018 https://t.co/CHhNUwGSsU pic.twitter.com/6bPZahayl0

— The Hill (@thehill) June 28, 2018

Trump lied about US Steel

US Steel is afraid to correct Trump’s lie because they know he would attack them.

In the most inoffensive possible way, US Steel confirms to @GlennKesslerWP that Trump is wrong about the company opening “six” (or, last night, “seven”) plants. Trump keeps saying the company CEO called to tell him about these fictional openings. https://t.co/45NJA2j3qE pic.twitter.com/5aEDjCvlYr

— Daniel Dale (@ddale8) June 28, 2018

“What’s interesting here is not that Trump is making up random shit. He does that all the time. The interesting thing is that US Steel’s CEO, Dave Burritt, is terrified of contradicting him.” https://t.co/2kxngMra73

— Daniel W. Drezner (@dandrezner) June 28, 2018

Trump appears to make up a phone call about a made up U.S. Steel announcement, reports @GlennKesslerWP. https://t.co/WJStVwQDoT

— Paul Farhi (@farhip) June 28, 2018

update 7/31/18

He’s still lying

This afternoon the president told steelworkers that their employer is opening up seven plants it is not opening https://t.co/HJaVLXqF4h

— Daniel Dale (@ddale8) July 27, 2018

Trump just said (again) that US Steel was opening six new steel mills. From a CNN fact check: "As a publicly traded company, US Steel is required to announce major changes, such as opening new plants. So far, they have not made any such announcements." https://t.co/nR7gfusTVK

— Kyle Blaine (@kyletblaine) July 31, 2018

update 8/2/18:

.@realDonaldTrump said @U_S_Steel just announced that they are building six new steel mills. But they're not building a single one. Check out our fact-check: https://t.co/hHq8eamqkR pic.twitter.com/PqYxxWoM1c

— PolitiFact (@PolitiFact) August 2, 2018

and another lie (8/6 update):

Trump lied in June that U.S. Steel was opening "six" plants. Then he made it "seven." Last week, at a meeting with inner city pastors, he said, "United States Steel just announced another two plants. They're up to eight."

It is restarting blast furnaces at one plant.

— Daniel Dale (@ddale8) August 7, 2018

8/11/18 update – Trump just keeps lying

Trump, touting US steel as “one of the hot industries in the world,” told CEOs at Bedminster tonight that “plants are opening up literally on a daily basis.”

— Eli Stokols (@EliStokols) August 8, 2018

9/7 in North Dakota

"U.S. Steel is opening up eight plants," Trump lies again. It's announced major investments in two plants since he announced his tariffs.

— Daniel Dale (@ddale8) September 7, 2018

9/18/18 Trump’s false claims on steel:

Fact Check Index

Select steel

9/26/18: Trump lies again about US Steel:

Trump again upgrades his U.S. Steel lie, which started at "six plants" and went to "seven plants" and then "eight plants." Just now: "U.S. Steel is opening up a minimum of eight plants."

— Daniel Dale (@ddale8) September 26, 2018

10/1/18 Trump lies again

It wasn't true when Trump claimed U.S. Steel was opening six new plants, and it wasn't true today when he bumped that number to "eight or nine" pic.twitter.com/dVQfIqviAr

— The Daily Beast (@thedailybeast) October 1, 2018

11/2/18:

.@realDonaldTrump repeated a false claim about U.S. Steel opening a half dozen or more new mills: https://t.co/QkJp8DbFF1

— PolitiFact (@PolitiFact) November 2, 2018

Fact-checking Trump

Daniel Dale of the Toronto Star discussing Trump’s lies about U. S. Steel

Here’s a little thread about a major corporation, Trump’s lying, and the weirdness of attempting to fact-check him.

— Daniel Dale (@ddale8) June 25, 2018

Read the whole thread but I liked this one:

Companies would sometimes prefer the president lie about them than confirm that the president is lying about them. The End.

— Daniel Dale (@ddale8) June 25, 2018

Large banks are doing really well

The article linked to in the tweet states: “Banks have more than doubled their capital, their main financial defense against losses. Profits are surging on the back of the stronger economy, and bank stocks have risen more than the broader stock market since the election of Donald J. Trump. Wall Street’s chief executives are enjoying hefty paydays. The Trump administration has started to relax post-crisis regulation, and banks are angling for more loosening. ”

The largest United States banks could soon be free to pay out as much as $90 billion in spare profits to their shareholders https://t.co/nENeAUXNE2

— The New York Times (@nytimes) June 22, 2018

Banks have also paid billions in fines. Yet, Republicans and some Democrats have eliminated safeguards put in place after the recession.

Wells Fargo & Co. will pay $5.1 million to settle a U.S. regulator’s claims that employees abused clients by persuading them to sell certain investments before maturity, generating large fees for the lender https://t.co/q26CR0K2Ym

— Los Angeles Times (@latimes) June 25, 2018