While talking about the president’s budget proposal and calling into question his campaign promise to “drain the swamp,” Sen. Chuck Schumer, D., N.Y., claimed that “if you add up the net wealth of his cabinet, it has more wealth than a third of the American people total–close to 100 million people.”
PolitiFact’s Jana Heigl reported that although “t is impossible to telemarketing data calculate the exact net wealth of Trump’s cabinet… It also doesn’t really matter how rich Trump’s cabinet members exactly are.” According to Gabriel Zucman, an economist at the University of Berkeley, “‘The bottom one-third of American households ranked by wealth own approximately nothing.’” Heigl added that it’s “‘because some either have a very low or even negative net wealth, due to high debt.’” She concluded “‘it does not take a lot to ‘have more wealth than a third of the American people,’ like Schumer claimed, Zuchman added.”
Claim: U.S. lost 60,000 factories since China joined WTO (mostly true)
President Donald Trump claimed: “Since China joined—that’s another beauty—the WTO in 2001, the U.S. has lost many more than 60,000 factories.”
Lauren Carroll reported for PolitiFact that “the United States has, in fact, lost more than 60,000 factories since 2001, when China joined the WTO and became a bigger player in the world economy. And quite a few economists believe opening up trade with China has had a significant and negative effect on American manufacturing, though it’s not a universal view.” However, economic historian Bradford DeLong with the University of California, Berkeley, told PolitiFact, “about one-tenth of factory closures over the past decade or so have had to do with China, but that would have happened whether or not China joined the WTO.”