A resurfaced 2004 interview clip where Donald Trump, then a businessman and reality TV star, suggested that the U.S. economy performs better under Democratic administrations. This statement starkly contrasts with his political rhetoric and policies during his presidency.
What Happened: In a past CNN interview conducted by Wolf Blitzer, whose clip is now present on the You Tube channel, Now This Impact, Trump, reflecting on his business experience, stated, “I've been around for a long time and it just seems that the economy does better under the Democrats than the Republicans.”
Trump, then 58, acknowledged the economic boom under President Bill Clinton‘s administration in the 1990s, as suggested by Blitzer. However, he differentiated Clinton’s success from the economic struggles under former Democrat President Jimmy Carter.
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Trump opined, “We've had some very good economies under Democrats as well as Republicans,” but added, “we've had some pretty bad disasters under the Republicans.”
“Now, it shouldn’t be that way,” said Trump.
His comments came at a time when the U.S. was grappling with the aftermath of the dot-com bust and the early stages of the Iraq War under President George W. Bush.
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The re-emergence of this interview is interesting, considering Trump’s candid and non-partisan views as a businessman.
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Why It Matters: President Donald Trump, during his first term, took office with a strong economy, which maintained steady growth throughout his first three years with healthy corporate profits and low unemployment rates, as reported by CNN. However, the Covid-19 pandemic upended that trajectory
During the second term, Trump’s economic policies, particularly his tariffs, faced significant criticism. In April 2025, a majority of Americans expressed concern about the economy's trajectory amid rising consumer costs and potential recession risks, causing Trump’s approval rating to plummet.
Trump’s tariffs also led to increased economic uncertainty, with economists warning of an increased risk of recession. This was reflected in JPMorgan Chase raising its odds of recession to 60% from 40%, citing supply-chain shocks due to tariffs.
However, Trump’s administration defended these measures, with White House Deputy Chief of Staff Stephen Miller stating that Trump’s tariffs were the beginning of saving the West from economic domination by China. Furthermore, renowned economist Mohamed El-Erian suggested that the era of U.S. exceptionalism was on pause, not completely over, amid Trump’s tariffs and economic uncertainty.
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