• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

2

Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal

3

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

1

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

2

Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal

3

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Leadership

Fact Checking Hillary Clinton’s Economic Speech

By
Ben Geier
Ben Geier
Down Arrow Button Icon
By
Ben Geier
Ben Geier
Down Arrow Button Icon
August 11, 2016, 4:49 PM ET
Hillary Clinton Delivers Speech On US Economy In Warren, Michigan
Photograph by Bill Pugliano —Getty Images
Add Fortune on Google for similar content.

Hillary Clinton gave a major economic speech in Michigan Thursday, ripping into Donald Trump’s own economic proposals and contrasting it with her own vision. Speaking at Futuramic Tool & Engineering, a manufacturing facility, Clinton spoke of the need for combining robust public sector investment with increased government spending on job creation.

“Even conservative experts say Trump’s agenda will pull our economy into recession,” she said.

Here we fact check three key assertions Clinton made.

1. Her position on free trade

Clinton quote: “The answer is to finally make trade work for us, not against us. so my message to every worker in Michigan and across America is this: I will stop any trade deal or kills jobs or holds down wages, including the Trans-Pacific Partnership. I oppose it now, I will oppose it after the election and as president.”

Fact check: Since the primary season Clinton has been criticized, by members of her own party as well as Trump, as supporting free trade deals that were good for big corporations—but not for average workers. In her speech today, Clinton said she opposes the Trans-Pacific Partnership (TPP), and she attempted to lay some of the blame on corporate America for going against the spirit of agreements like the North American Free Trade Agreement, saying they moved manufacturing out of the U.S. instead of exporting to other countries.

In terms of her actual record on free trade, however, Clinton is a mixed bag. She supported NAFTA when her husband was president, but later said it was a mistake. Politifact, a non-partisan fact checking site, notes that while in the Senate, Clinton voted for six trade deals, voted against two, and missed the votes for two other deals for which she later said she supported. As for the Trans-Pacific Partnership (TPP), she is on the record opposing it now—but she supported it as Secretary of State.

https://youtu.be/3rOUYlZV914

 

2. On Trump’s proposed childcare tax deduction

Clinton quote: “Now [Trump] said he wants to exclude childcare payments from taxation. because it is transparently denied for rich people.”

Fact check: Of all the proposals Trump put forward in his economic address three days ago, eliminating taxes on money spent for childcare would seem to be the one with the broadest appeal. After all, it doesn’t just please conservatives who want to see government shrunk and taxes cut, it also has the potential to win over working parents who struggle to pay for childcare.

But, as the New York Times notes, Trump’s proposal is to create a federal tax deduction rather than a federal tax credit, meaning it would reduce your taxable income. So Clinton is correct that this deduction would primarily benefit affluent families. Many lower-income Americans, though, don’t pay federal income tax or pay very little in federal income taxes, so reducing their taxable income won’t help them much. Expanding the tax credit, such as the Child and Dependent Care, which covers qualifying expenses up to $3,000 for one child or dependent, would enable taxpayers to get the money—even if they pay nothing in tax. Trump’s advisors claim that the deduction won’t apply to super wealthy, but it also seems unlikely to actually benefit the lower-middle class either.

3. On Trump’s trade plan

Clinton quote: “Even conservative experts say Trump’s agenda will pull our economy back into a recession. [According to] analysis by a former economic adviser to [Republican Senator] John McCain, you add up all of the ideas from cutting taxes to starting a trade war with china to deporting millions of hard-working millions, the result would be a loss of 3.4 million jobs.”

Fact Check: The John McCain advisor that Clinton cites is Mark Zandi, who is a Moody’s chief economist. Clinton’s assertion is factually correct— Zandi did come to that conclusion in a paper. And he also was an adviser to McCain, when he was the Republican presidential nominee. But she left out a key fact: Zandi is a Democrat and supports both Clinton and President Obama, according to Politifact.

(For more, read Hillary Clinton Claims Trump’s Policies Will Kill 3.4 million jobs. Is She Right?)

Trump’s aides have said that the paper Zandi published is faulty, but the Moody’s economist has stood by his work, telling the New York Times that “This is my job. I have clients that ask, ‘What do these economic policies mean for me?’ — in all kinds of industries, in all walks of life.”

About the Author
By Ben Geier
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Leadership

The Pete behind Jersey Mike’s was only 17 years old when he borrowed $125,000 to buy the chain—with some help from his high school football coach
SuccessFounders
The Pete behind Jersey Mike’s was only 17 years old when he borrowed $125,000 to buy the chain—with some help from his high school football coach
By Marco Quiroz-GutierrezJuly 26, 2026
26 minutes ago
Bridgewater Associates ex-recruitment boss reveals the secret ‘unpopularity’ interview test he used on hundreds of candidates at the hedge fund
SuccessThe Interview Playbook
Bridgewater Associates ex-recruitment boss reveals the secret ‘unpopularity’ interview test he used on hundreds of candidates at the hedge fund
By Orianna Rosa RoyleJuly 26, 2026
55 minutes ago
Booted from Malaysia, tech guru Balaji Srinivasan finds a new patron for his ‘nomad’ commune: Kazakhstan
AsiaMalaysia
Booted from Malaysia, tech guru Balaji Srinivasan finds a new patron for his ‘nomad’ commune: Kazakhstan
By Angelica AngJuly 26, 2026
3 hours ago
Nvidia CEO Jensen Huang denies the chip boom will go bust soon and actually utters the infamous phrase ‘this time is different’
Big TechSemiconductors
Nvidia CEO Jensen Huang denies the chip boom will go bust soon and actually utters the infamous phrase ‘this time is different’
By Jason MaJuly 25, 2026
15 hours ago
SpaceX’s Starship V3 deploys most advanced Starlink satellites then pulls off best re-entry yet with splashdown so soft it floated in the Indian Ocean
Innovationspace
SpaceX’s Starship V3 deploys most advanced Starlink satellites then pulls off best re-entry yet with splashdown so soft it floated in the Indian Ocean
By Marcia Dunn and The Associated PressJuly 25, 2026
17 hours ago
Inside On’s tech lab, where robots build running shoes in 3 minutes and can eliminate up to 300 hours of human work
C-SuiteSportswear
Inside On’s tech lab, where robots build running shoes in 3 minutes and can eliminate up to 300 hours of human work
By Ruth UmohJuly 25, 2026
17 hours ago

Most Popular

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
20 hours ago
Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal
Middle East
Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal
By Jason MaJuly 25, 2026
12 hours ago
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
2 days ago
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
Success
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
By Orianna Rosa RoyleJuly 25, 2026
23 hours ago
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
3 days ago
A Hims cofounder fired his entire marketing team for AI. Now his 24/7 online vet service is growing 20% a month
Success
A Hims cofounder fired his entire marketing team for AI. Now his 24/7 online vet service is growing 20% a month
By Sydney LakeJuly 25, 2026
18 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.