The Trump Economy Is Working for Everyone, But Democrats Are in Denial
S E E D E D C O N T E N T
When Barack Obama speaks publicly, he often tries to take credit for the booming Trump economy . When any of the 2020 Democrats speak about the economy, you would think we were living in the Great Depression. The Democrats running for president know that if Americans perceive the economy as doing well that makes it harder for them to make the case that we need a change of leadership. So, instead of trying to credit Obama for the economy, they’re disparaging the Trump economy in the hopes that voters will listen to them instead of noticing how much better things are.
Well, it’s not going to work. An editorial from the Wall Street Journal on Thursday destroys the Democrat talking points on the economy. One of the common myths about the Trump economy is that minorities are being left behind under Trump. Nothing could be further from the truth:
The press this week has noted that the economic expansion reached its 10th anniversary, the longest on record. But the accounts ignore that the last two years have been far different than the first eight in economic policies and results. We’re long enough into the Trump era to track the differences.
Start with Mr. Booker’s claim that minorities are being left behind. Really? The jobless rate for blacks is 6.2%, which is only 2.9 percentage-points higher than for whites versus a 4.6 percentage-point difference before the start of the 2008 recession. Unemployment has fallen twice as much among blacks as whites since December 2016.
Nearly one million more blacks and two million more Hispanics are employed than when Barack Obama left office, and minorities account for more than half of all new jobs created during the Trump Presidency. Unemployment among black women has hovered near 5% for the last six months, the lowest since 1972, and a mere 3.5% of high school graduates are unemployed.
Of course the other myths 2020 Democrats are pushing is that the economy is only working for the rich, and that people are barely scraping by with multiple jobs. The facts prove that wrong as well.
But what about Senator Harris’s assertion that folks are stringing together jobs to make ends meet? About 5% of Americans hold more than one job, and this rate has held relatively constant since 2010. Yet there are now 1.3 million fewer Americans working part-time for economic reasons than at the end of the Obama Presidency.
A tighter job market is also pushing up wages for the average Cory or Kamala. Average hourly earnings for production-level manufacturing workers have grown at an annual rate of 2.8% during the Trump Presidency compared to 1.9% during Barack Obama’s second term. Production-level manufacturing wages have accelerated even faster in Pennsylvania, Michigan and Indiana.
The Wall Street Journal also noted that deregulation has benefited the mining and manufacturing industries, and per capita incomes “have grown at significantly faster rates under President Trump than they did under Barack Obama in Pennsylvania, Ohio, Nevada, Wisconsin and even Iowa despite retaliatory tariffs on American exports.” Then there’s inconvenient truth that the Obama economy was far better for the wealthy than it was for average Americans—something 2020 Democrats are trying to suggest is a hallmark of the Trump economy. “The Federal Reserve’s bond purchases and near-zero interest rates for eight years [under Obama] drove up asset values and let corporations borrow cheaply while the Administration’s punishing regulations bred business uncertainty that depressed investment in human and physical capital. Those with financial assets prospered more than middle-class wage earners. The Obama Democrats talked constantly about inequality rather than growth, and the result was less growth and more inequality.”
In other words, there was more income inequality under Obama than there is under Trump. If Trump has accomplished something that Democrats and their policies have failed to do there’s really no argument to justify voting for them.
Tags
Who is online
251 visitors
The most recent Trump job approval from Gallup , which does it every week, is 41 percent. Trump's job approval according the Gallup poll hasn't varied much from 40 percent for the entire length of his presidency.
The "good" economy has not moved the needle for Donald Trump, and that should scare the crap out of him and his advisers. He doesn't have much else to campaign on.
The left is forgetting that people can hate Trump and still vote for him.
Until the Dem's exploding clown car of candidates running ever further to the left gets whittled down; no one can even hope to know how the general election will pan out. The candidate that is let standing might be so far out in left field they might lose sight of the center completely.
He doesn't have to.
The inconvenient fact for Democrats is the economy is rolling. The other inconvenient fact is...."it's the economy, stupid".
The inconvenient fact for Republicans is that Trump is a complete asshole who very well may manage to screw up even this rampaging economy.
Not to mention - the Republican Clown Car certainly didn't result in the best GOP candidate. There's a good chance the Democrat Clown Car won't result in the best Dem candidate. When people are voting for what they consider to be the lesser of two evils, anything can happen.
Seems to be that way of late, which snake oil salesman's elixir is the most palatable.
I think tens of millions of people agreed with that, which is why the phrase "President Trump" was introduced to the American vernacular.
He's still an asshole, and he'd be walking to a Reagan-esque landslide if he could behave properly.
I'm careful about my math.
Nearly 63,000,000 people voted for Donald Trump for president. That certainly qualifies as "tens of millions". 6.295 "tens of millions", to be a bit more precise.
It's fair to say that large numbers of those people voted against Hillary more than they voted for Trump...therefore "tens of millions of people thought Hillary was the greater evil".