How the Trump economic miracle shatters the left

  
Via:  donald-trump-fan1  •  4 months ago  •  50 comments

How the Trump economic miracle shatters the left
Mr. Trump’s “magic wand” was simple economic common sense: Pro-growth policies of tax cuts, widespread deregulation, unleashing the energy sector and renegotiating trade policies that had long decimated American manufacturing (another thing the elites told us couldn’t be done). During the campaign, Mr. Trump’s economic agenda was roundly derided and dismissed as unfair and unworkable by Mr. Obama, Hillary Clinton and countless other ruling class overlords. They knew that Mr. Trump mustn’t be...

S E E D E D   C O N T E N T


The Trump economy is firing on all cylinders, which means only one thing: The left is petrified.

Last week brought economic news so good that it sent the Democrats and their fellow travelers in the Resistance Media into full bury-then-ignore mode. Their pathological hatred of the president blocks them from reporting the truth about the booming economy he is delivering, lest it make him look good (heaven forfend) and help him politically (a fate worse than death).

They also know that since it’s always “the economy, Stupid,” they’d be damaging his potential 2020 opponent, which must be avoided at all costs.

Given the dazzling December economic data, it’s no wonder the press gave it short shrift. According to the U.S. Bureau of Labor Statistics, the economy added a whopping 312,000 jobs, far more than the expected 176,000. After revisions, job gains have averaged an impressive 254,000 per month over the past three months. Job growth in 2018 (an average of 220,000 per month) passed that of both 2016 (195,000) and 2017 (182,000). Payrolls increased by 2.6 million in 2018, the highest since 2015.

The sunny jobs picture encouraged 419,000 new workers to enter the workforce and sent the labor force participation rate up to 63.1 percent. Unemployment rates among blacks, Latinos and women are at or near historic lows.

Job growth has also meant significant wage growth. Wages are up a stunning 3.2 percent from last year and .4 percent from November. December was the third straight month that the yearlong growth in nominal average hourly earnings was above 3 percent in nearly a decade; the last time we saw that trend was April 2009. Wages are also being given an assist by inflation being kept in check.

The jobs boom is being felt across most major sectors: Construction (a reliable indicator of economic growth) added 38,000 jobs in December and saw a total of 280,000 new jobs in 2018. Retail added 24,000 jobs in December, with 92,000 for the year. Health care jobs increased by 50,000 last month and by 346,000 for the year.

And perhaps the most politically and economically important of them all: Manufacturing added 32,000 jobs in December and a stunning 284,000 new jobs in 2018. That represents an increase of 12 percent over 2017, and a major achievement for Mr. Trump.

During the eight years of Barack Obama’s presidency, the only sector that experienced consistently expanding job growth was government. At the same time, he presided over the net loss of 210,000 manufacturing jobs.

In mid-2016, Mr. Obama was asked about the loss of those jobs, and candidate Trump’s promise to bring them back. “Well, how exactly are you going to do that?” Mr. Obama asked. “What exactly are you going to do? There’s no answer to it.

“He just says, ‘Well, I’m going to negotiate a better deal.’ Well, what, how exactly are you going to negotiate that?” Mr. Obama continued. “What magic wand do you have? And usually the answer is, he doesn’t have an answer.”

Turns out Mr. Trump did have an answer. It was to ratchet down the globalism Mr. Obama and his fellow elites insisted was inevitable and move to put America — its workers, taxpayers, industries and interests — first.

Mr. Trump’s “magic wand” was simple economic common sense: Pro-growth policies of tax cuts, widespread deregulation, unleashing the energy sector and renegotiating trade policies that had long decimated American manufacturing (another thing the elites told us couldn’t be done).

During the campaign, Mr. Trump’s economic agenda was roundly derided and dismissed as unfair and unworkable by Mr. Obama, Hillary Clinton and countless other ruling class overlords. They knew that Mr. Trump mustn’t be allowed to win the presidency, for they knew that if these policies were to take root, they would work. The economy would grow, jobs would return, manufacturing would boom, international trading partners that had long taken advantage of the United States would begin negotiating, prosperity would reappear and yes, America would be made great again.

This they could not abide, which explains at least in part their dark, frantic machinations to prevent his election, and post-November 2016, to hobble his ability to govern effectively.

His astounding economic track record is their worst nightmare. It puts the lie to the nonsense Mr. Obama, the Democrats and the media have been shoveling for years: That anemic economic growth, high unemployment, the collapse of manufacturing and grotesque trade imbalances were the “new normal.”

It also pointedly demonstrates that the statist vision — radical wealth redistribution, socialized medicine, green energy chimeras, social justice enforcement, limits on free speech, private property and gun ownership, and the rule of the leftist mob — creates only tyranny, poverty, injustice and servitude. (Note the deflection: These are things the left claims to want to eradicate.)

Mr. Trump and his economic thunderbolt are exposing the left and its policies as irredeemably bankrupt, economically and morally. And that is perhaps the biggest reason why they must try to destroy him.

• Monica Crowley is a columnist for the Washington Times.

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XXJefferson#51
1  seeder  XXJefferson#51    4 months ago

“His astounding economic track record is their worst nightmare. It puts the lie to the nonsense Mr. Obama, the Democrats and the media have been shoveling for years: That anemic economic growth, high unemployment, the collapse of manufacturing and grotesque trade imbalances were the “new normal.”

It also pointedly demonstrates that the statist vision — radical wealth redistribution, socialized medicine, green energy chimeras, social justice enforcement, limits on free speech, private property and gun ownership, and the rule of the leftist mob — creates only tyranny, poverty, injustice and servitude. (Note the deflection: These are things the left claims to want to eradicate.)

Mr. Trump and his economic thunderbolt are exposing the left and its policies as irredeemably bankrupt, economically and morally.”

 
 
 
ArkansasHermit-too
2  ArkansasHermit-too    4 months ago

Below are just a few tidbits from Don-Overton's seed; "Trump’s Numbers October 2018 Update", to add perspective.

If one goes thru the numbers in the linked article of Don's seed it quickly becomes clear that the main thing Trump has going for him is his luck at following a successful President.

His braggadocio about the current economy is just another example of him trying to put his name on a building someone else built and his shrinking share of America is swallowing his bull without even dabbing their lips.



Trump’s Numbers October 2018 Update

Employment — Total non-farm employment grew by 3.8 million during the president’s first 20 months in office, according to the most recent figures available from the Bureau of Labor Statistics.

That continued an unbroken chain of monthly gains in total employment that started nearly eight years earlier, in October 2010.

The average monthly gain under Trump is 190,000 jobs, which is 12 percent below the average monthly gain of 217,000 during Obama’s second term.

Trump will have to pick up the pace if he is to fulfill his campaign boast that he will be “the greatest jobs president that God ever created.”

Labor Force Participation — Despite the abundance of jobs, the labor force participation rate — which went down 2.8 percentage points during the Obama years — has slipped a bit more under Trump.

Republicans often criticized Obama for the decline during his time, even though it was due mostly to the post-World War II baby boomers reaching retirement age, and other demographic factors beyond the control of any president. The rate is the portion of the entire civilian population age 16 and older that is either employed or currently looking for work in the last four weeks.

Since Trump took office, the rate has fluctuated in a narrow range between 63.0 percent and 62.7 percent. It was 62.7 percent in August, 0.2 percentage points below where it was the month Trump took office.

Manufacturing Jobs — Manufacturing jobs increased under Trump, even faster than total employment.

The number rose by 378,000 between Trump’s inauguration and September. That followed a net decrease of 192,000 under Obama.

Economic Growth -- The economy is growing faster under Trump — spurting to a yearly rate of 4.2 percent in the second quarter of 2018, the most recent official estimate available.

The 4.2 percent rate is just within the 4 percent to 6 percent rate Trump promised repeatedly, both when he was a candidate and also as president.

Most economists believe the current growth spurt is temporary. The nonpartisan Congressional Budget Office issued an updated economic forecast Aug. 13 projecting real GDP to grow 3.1 percent this year, and 2.4 percent in 2019. That’s in line with the most recent median forecast of the Federal Reserve Board members and Federal Reserve Bank presidents (issued Sept. 26), which is for 3.1 percent growth in 2018, 2.5 percent in 2019 and 2.0 percent in 2020.

Income and Poverty

Household Income — Household income hit another record during Trump’s first year — but it’s a record with an asterisk

In percentage terms, the increase in 2017 was 1.8 percent, following a 3.1 percent increase in 2016.

However, a senior Census official cautioned that the latest “records” in 2016 and 2017 are due in part to a change in the survey questions in 2014. Starting then, the annual survey has picked up some sources of income that were previously missed. Taking this into account, Jonathan L. Rothbaum, chief of the Income Statistics Branch, said the 2017 median income would be in a “statistical tie” with incomes measured in 2007 and 1999.

Poverty — As incomes rose, the rate of poverty declined. The percentage of Americans living with income below the official poverty line went down to 12.3 percent of the population in 2017, the lowest level since 2006, just before the Great Recession of 2007-2009.

The poverty rate has now declined for three consecutive years, dropping by 1.3 percentage points in 2015, by 0.8 points in 2016 and by 0.4 points in Trump’s first year.

 
 
 
Studiusbagus
3  Studiusbagus    4 months ago

The only "economic miracle" is if Trump actually had anything to do with these carryovers from Obama.

If one looks now, you'd see the fluctuating market, the huge upswing in corporate bankruptcy, and corruption not seen in the Obama admin.

He's failing miserably.

 
 
 
Sparty On
3.1  Sparty On  replied to  Studiusbagus @3    4 months ago

Lol, i love partisan nonsense like this.  

Todays economy is Obama's doing but Clinton's boom economy of the 90's was all Clinton.

Hilarious!

 
 
 
JBB
3.1.1  JBB  replied to  Sparty On @3.1    4 months ago

The tech boom of the 90's and a balanced budget helped some, too...

 
 
 
Tessylo
4  Tessylo    4 months ago

The only folks seeing any kind of boost are the already wealthy.  

 
 
 
MUVA
4.1  MUVA  replied to  Tessylo @4    4 months ago

Wrong

 
 
 
Tessylo
4.1.1  Tessylo  replied to  MUVA @4.1    4 months ago

RIGHT.

 
 
 
MUVA
4.1.2  MUVA  replied to  Tessylo @4.1.1    4 months ago

You mean left.

 
 
 
Tessylo
4.1.3  Tessylo  replied to  MUVA @4.1.2    4 months ago

INCORRECT

 
 
 
XXJefferson#51
4.2  seeder  XXJefferson#51  replied to  Tessylo @4    4 months ago

That is absolutely and categorically false.  It is the middle class that got the big proportional tax cuts, they that got the wage increases and better jobs.  The deregulation and tax cuts were a boon to the working and middle classes.  

 
 
 
Tessylo
4.2.1  Tessylo  replied to  XXJefferson#51 @4.2    4 months ago

Nope, what you said is absolutely and categorically false.  

 
 
 
devangelical
5  devangelical    4 months ago

trump is riding the last wave of the Obama economic recovery. his premature tax cuts for the wealthy are unsustainable and have pushed the economy off it's foundation. the now faltering economy will eventually grind to a halt during the 2020 election campaign, flipping the senate and white house.

 
 
 
JBB
6  JBB    4 months ago

Obama's Economic Recovery just will not quit despite Trump's incompetence...

Still zero Obama campaign or administration officials ever indicted for crimes.

The sugar high from the gop's lousy tax cuts is wearing off. Our budget deficit is exploding also. So, expect another recession by 2020. The gop ruins wet dreams. It is like deja vu and Grounhog Day all over again. "Economis Is Just Math" - Bill Clinton.

 
 
 
XXJefferson#51
6.1  seeder  XXJefferson#51  replied to  JBB @6    4 months ago

Obama’s economic “recovery” was the weakest and worst ever from a recession.  

 
 
 
JBB
6.1.1  JBB  replied to  XXJefferson#51 @6.1    4 months ago

Obama's record of months of job and economic growth is unsurpassed...

Obama? The Cleanest Administration In History followed by Most Corrupt.

 
 
 
Split Personality
6.1.2  Split Personality  replied to  XXJefferson#51 @6.1    4 months ago

Wrong.

The largest recession started in 1929 and lasted until 1939.  Only a world war save FDR from that mess.

Among post war Presidents, Bush 43 beats Obama in several metrics.

https://www.bloomberg.com/opinion/articles/2018-08-01/ranking-presidents-economic-records-by-gdp-growth

 
 
 
JBB
6.1.3  JBB  replied to  XXJefferson#51 @6.1    4 months ago

The gop and Bush's Great Recession was Worst Since The Great Depression.

 
 
 
XXJefferson#51
6.1.4  seeder  XXJefferson#51  replied to  JBB @6.1.3    4 months ago

The democrats controlled both houses of congress before that recession they created started.  Bush got us through the worst of it before he left office. 

 
 
 
XXJefferson#51
6.1.5  seeder  XXJefferson#51  replied to  Split Personality @6.1.2    4 months ago

But the topic is today’s boom following the weakest and worst post recession recovery ever under Obama.  

 
 
 
Split Personality
6.1.6  Split Personality  replied to  XXJefferson#51 @6.1.5    4 months ago

And the truth is that the weakest and longest recovery was under FDR.  Only WWII pulled us out of the doldrums.

And Bush 43 metrics were slightly worse than Obama and Bush Sr.

Very much on topic.

 
 
 
Nowhere Man
6.1.7  Nowhere Man  replied to  Split Personality @6.1.6    4 months ago

Yeah, what surprises me more than anything, is how for all the intelligence supposedly on display here most have no clue to the history.

The Great Depression came about for the same reasons the great recession of 2008 came about. they put regulations in place after the great depression to prevent what causes such which were abandoned before the Great Recession happened.

You cannot multiply value based upon debt, (or margin as it is called in market language) In many ways the Great Recession was worse than the Great Depression.

The only people that it didn't effect? the wealthiest....... Those who were smart enough to retain cash reserves. All they did was get wealthier. Not that that is bad, it just feels unfair.....

In the 30's the government didn't have the ability to print money at will, we were tied to the gold standard and every dollar printed needed a dollar of gold in the reserve to account for it..... so the recovery was very slow and tedious as everyone refused to accept financing (debt) for purchasing power, cash was king..... the policies enacted during the start of the Great Recession, massive infusions of cash to prop up the failing banks absorbing a bunch of worthless property into their rolls didn't correct the deflation but it stopped the bleeding.

WWII forced a lot of emergency spending to bring the military up to snuff which had the same effect. and with the pearl Harbor attack and declarations of war we still weren't fully recovered but the war emergency took off all the stops. It took until the 1970's with 90% tax rates to finally pay off all the debt incurred during WWII, that is the part people forget.

This is why the deficit keeps piling up there just isn't enough money to fully pay for everything everyone wants for every little issue. and NO ONE wants to go back to 90% tax rates..... Of course after WWII the USA had the only truly functioning Economy worldwide and we rebuilt (financed) the world.

History escapes people some time....

 
 
 
Sparty On
6.2  Sparty On  replied to  JBB @6    4 months ago
Obama's Economic Recovery just will not quit despite Trump's incompetence...

Lol!    A comment showing an almost childlike understanding of how the US economy works.

Still zero Obama campaign or administration officials ever indicted for crimes.

 That’s because the Obama Admins favorite dance was the “plead the 5th” shuffle.

 
 
 
XXJefferson#51
6.2.1  seeder  XXJefferson#51  replied to  Sparty On @6.2    4 months ago

Well said on both counts.  Progressives are in denial of the strength of the economy and many like Bill Maher are openly rooting for a recession that will harm a hundred million people in order to get their sides political power  back.  

 
 
 
JBB
6.2.2  JBB  replied to  Sparty On @6.2    4 months ago

No Obama campaign or administration officials ever indicted for crimes...

Zero! Zip! Nada! Not one. Bush left our economy busted. Trump inherited Obama's economic boom. The corruption of Trump and Co will end in another gop recession. Thing are already petering out, The gop has already trippled the federal deficite to over a trillion dollars, again...

Now the government is shut down. Thing are not going well at all today.

 
 
 
MUVA
6.2.3  MUVA  replied to  JBB @6.2.2    4 months ago

What happen the 7 years before Trump took office?We added nearly 9 trillion dollars during Obama'S YEARS IN OFFICE. I blame everyone in Washington not just Obama.What did Bush do to leave the economy busted go find the answer in some leftist hack site and share it with us please it should be humorous.

 
 
 
JBB
6.2.4  JBB  replied to  MUVA @6.2.3    4 months ago

The deficits has just tripled to over a trillion dollars, again...

 
 
 
XXJefferson#51
6.2.5  seeder  XXJefferson#51  replied to  JBB @6.2.4    4 months ago

This shut down will cut that deficit because when it does end we are going to prorate the resumed agency spending in the next CR except for workers wages for time lost.  So if the shutdown is a month then each appropriations bill will be 11/12ths as much as it would have been before the shutdown.  If democrats resist this the shutdown can continue over spending level issues and the deficit in addition to the wall issue.  

 
 
 
MUVA
6.2.6  MUVA  replied to  JBB @6.2.4    4 months ago

The spending is too high you are right we need the government to cut back I agree.

 
 
 
XXJefferson#51
6.2.7  seeder  XXJefferson#51  replied to  MUVA @6.2.6    4 months ago

I agree. With the Dems in control of the house now we don’t have the rinos we used to or their seats to defend so we can use the Freedom Caucus the Senate and the President to cut back on the spending no matter what bills the house originates.  

 
 
 
Sparty On
6.2.8  Sparty On  replied to  JBB @6.2.2    4 months ago

Lol, de-nile is no longer just the longest river in the world.    It’s clearly also the best friend of your average progressive these days.   Hilarious!

Enjoy your delusions though.    I know it’s about all you got.

 
 
 
Sparty On
6.2.9  Sparty On  replied to  MUVA @6.2.3    4 months ago

Trillions in qualitative easing and almost 8 years of zero % Fed rate.    

Obama would have had to been retarded to mess that up

 
 
 
XXJefferson#51
6.2.10  seeder  XXJefferson#51  replied to  Sparty On @6.2.9    4 months ago

And yet he did.  The worst recovery from a recession in the history of the country.  

 
 
 
XXJefferson#51
6.2.11  seeder  XXJefferson#51  replied to  Sparty On @6.2.8    4 months ago

It’s better than nothing I guess.  

 
 
 
bbl-1
7  bbl-1    4 months ago

Uh...……….gee...……..uh...……..can't fathom how Trump U, Trump Steaks, Trump Wines, Trump Casinos, or Mexico not anteing the Pesos is crippling the left.

Deficits and debt?  Who is gonna pay?  MEXICO came the thunderous reply as soliloquies of giggles emerged from the 'fat wallet' folk enjoying their tax cuts. 

 
 
 
XXJefferson#51
7.1  seeder  XXJefferson#51  replied to  bbl-1 @7    4 months ago

I don’t have a fat wallet and I got big tax cut as well as 2 bonuses and a pay raise this last year. 

 
 
 
bbl-1
7.1.1  bbl-1  replied to  XXJefferson#51 @7.1    4 months ago

Don't know who you are.  What you do or your income.  Good for you. 

 
 
 
XXJefferson#51
7.1.2  seeder  XXJefferson#51  replied to  bbl-1 @7.1.1    4 months ago

You’ve known of me since I was CornHusker4Palin.  Let’s just say that my gross taxable income was just under 50k.  

 
 
 
Sparty On
7.2  Sparty On  replied to  bbl-1 @7    4 months ago

Yes and we can keep our plan and Doctor if we want with Obamacare right?

Where was the outrageous indignation when Obama clearly lied like this?   I'll tell you where.    Same place the corn cobb was.  

Shoved right up their sanctimonious, partisan asses ....

 
 
 
Studiusbagus
7.2.1  Studiusbagus  replied to  Sparty On @7.2    4 months ago
Where was the outrageous indignation when Obama clearly lied like this?  

We heard quite a bit of outrage. Couldn't comment on a thread about flowers without having some outraged right winger injecting the "Lie of the Year". Getting beat over the head by that all year was constant until......the same site pegged Fox AND the Right for being the liars of the year....and crickets.

 Now the Right has elected a guy that runs on the "Lie of the Hour" and it phazes nobody on the right.

 
 
 
bbl-1
7.2.2  bbl-1  replied to  Sparty On @7.2    4 months ago

Do not know about 'sanctimonious partisan asses' but keeping the plans and the Doctors was and still is determined by the Insurance Company.

Obama clearly lied?  Yeah, that was what 'The Birtherism and the Trump' was all about, right?

 
 
 
cjcold
7.2.3  cjcold  replied to  Sparty On @7.2    4 months ago

Obama didn't lie. He clearly stated the ACA would not allow substandard Insurance companies to play.

 
 
 
XXJefferson#51
7.2.4  seeder  XXJefferson#51  replied to  Sparty On @7.2    4 months ago

jrSmiley_36_smiley_image.gifjrSmiley_10_smiley_image.gifjrSmiley_81_smiley_image.gifjrSmiley_13_smiley_image.gif

 
 
 
XXJefferson#51
7.2.5  seeder  XXJefferson#51  replied to  cjcold @7.2.3    4 months ago

If the people were satisfied with the insurance they had, it wasn’t substandard and we didn’t need a fascist big brother  jerk like dear leader lord Barry Obama telling what was in our own good.  

 
 
 
Studiusbagus
7.2.6  Studiusbagus  replied to  XXJefferson#51 @7.2.5    4 months ago
we didn’t need a fascist big brother  jerk like dear leader lord Barry Obama telling what was in our own good.  

Does this mean you're going to stop telling women what they can and can't do with their own bodies?

 
 
 
Sparty On
7.2.7  Sparty On  replied to  Studiusbagus @7.2.1    4 months ago

Once again you've completely missed the point.     But i understand.   Its tough to get some points across to folks who are so hopelessly mired in partisan bias.

 
 
 
Sparty On
7.2.8  Sparty On  replied to  bbl-1 @7.2.2    4 months ago

Why do you excuse Obama's lies and pontificate endlessly on Trumps?

Hypocrisy much?

 
 
 
Sparty On
7.2.9  Sparty On  replied to  cjcold @7.2.3    4 months ago
Obama didn't lie.

Lol, yeah right.... the great and mighty OBAMA does not lie ...... and pay no attention to man behind the curtain

Hilarious!

 
 
 
Sparty On
7.2.10  Sparty On  replied to  XXJefferson#51 @7.2.4    4 months ago

Bazinga!

 
 
 
XXJefferson#51
7.2.11  seeder  XXJefferson#51  replied to  Sparty On @7.2.8    4 months ago

Great question and the awesome correct answer to it.  

 
 
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