The Trump Economy Is Working for Everyone, But Democrats Are in Denial

  
Via:  Heartland American  •  5 months ago  •  42 comments


The Trump Economy Is Working for Everyone, But Democrats Are in Denial
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:

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We the People

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.


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Heartland American
1  seeder  Heartland American    5 months ago

He’s exactly right 

 
 
 
luther28
1.1  luther28  replied to  Heartland American @1    5 months ago

The Trump economy is hurting most Americans. Statistics won't fool ...


May 19, 2019 -   But   Trump's economy   isn't good for most people. If Democrats speak to ... But we need your ongoing support to keep   working   as we do. The Guardian will ...   Every   reader contribution, big or  
Not all it would seem, are in agreement.
 
 
 
Vic Eldred
1.1.1  Vic Eldred  replied to  luther28 @1.1    5 months ago

That's going to be a tough sell, Luther. Is that really the way democrats are going to campaign against the President?

 
 
 
MUVA
1.1.2  MUVA  replied to  Vic Eldred @1.1.1    5 months ago

I have been run our family's boat business for the last 13 years these last two have been the best since the wife and I took over.Recreational spending goes with a good economy.  

 
 
 
Vic Eldred
1.1.3  Vic Eldred  replied to  MUVA @1.1.2    5 months ago

Yup, that's for sure!

 
 
 
Tessylo
1.1.4  Tessylo  replied to  MUVA @1.1.2    5 months ago

Your wife's family business.

 
 
 
luther28
1.1.5  luther28  replied to  Vic Eldred @1.1.1    5 months ago

Well Vic, other than berating the many foibles of Mr. Trump that we do not need to rehash and actually not being Mr. Trump they have to go somewhere.

In truth, though while working for some to many, there are still many being left in the dust for many reasons. Some their own failings and others due to systematic failure over the years.

Our solutions are somewhere between the right and left, where common sense once resided. 

 
 
 
Vic Eldred
1.1.6  Vic Eldred  replied to  luther28 @1.1.5    5 months ago
Well Vic, other than berating the many foibles of Mr. Trump that we do not need to rehash

You mean the perceived foibles of Mr. Trump won't be rehashed any more?  

Nope, I just checked the liberal media as well as other seeds here and it seems the rehashing continues! It was a nice thought.

 
 
 
Tessylo
1.1.7  Tessylo  replied to  Vic Eldred @1.1.6    5 months ago

Foibles?  His flaws are legion.

 
 
 
Heartland American
1.1.8  seeder  Heartland American  replied to  Vic Eldred @1.1.1    5 months ago

The democrats will have a tough time running against the economy.  

 
 
 
Heartland American
1.1.9  seeder  Heartland American  replied to  luther28 @1.1    5 months ago

“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.”

 
 
 
Texan1211
1.1.10  Texan1211  replied to  Heartland American @1.1.8    5 months ago
The democrats will have a tough time running against the economy.

The only way Democrats CAN run on the economy is to tell much of their base that So-and-So has more than they do, and that it isn't fair.

They can't run on the truth about the economy, that's for damn sure.

 
 
 
Old Hermit
1.1.11  Old Hermit  replied to  Texan1211 @1.1.10    5 months ago
The democrats will have a tough time running against the economy.

Wont be that tough. 

Just roll out the basic facts contrasting Obama's economic stewardship with Trump's FUBAR.

Of course, the TDS crowed, ( T rump D **k S uckers), might not admit the truth but the majority of America will know.

Obama inherited a shitburger economy heading toward our Countries worst downturn since the Great Depression and, after 8 years, handed off an economy that just reached the milestone of, "This is now the longest US economic expansion in history" , this month.

Of course our current incompetent buffoon of a President and his woefully under-preforming administration took the gift Obama left them and are currently doing every thing in their power to FRACK things up. 

original

Trump Is Falling Almost 1 Million Jobs Short Vs. Obama

Forbes July 5, 2019

Over 29 months Obama added almost 1 million more jobs than Trump

Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut.

Working back from January 2017, Obama’s last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.

Note that back in January this year the total difference was only 194,000, which means over the past five months it has increased by 616,000. And looking at the next six months with Obama’s job numbers of 188,000 to 327,000 per month, the gap should only increase and cross 1 million.

960x0.jpg?fit=scale

Job growth is slowing down

To help smooth out any one months result it is worthwhile to look at 3, 6 and 12-month trailing numbers. You can see the slowdown in the number of jobs being added when you look at these averages.

  • 12 month per month average of 192,000 equals 2.3 million per year (and the second month in a row it has been under 200,000 per month)
  • 6 month per month average of 172,000 equals 2.07 million per year
  • 3 month per month average of 171,000 equals 2.05 million per year

Not the best economy ever

The underlying economy is weaker than perceived when you look at March quarter’s GDP numbers and railroad traffic taking a significant downward move over the past month. If the economy continues on this path it could enter a recession when few are forecasting one with one reliable indicator foreshadowing a downturn in the next 6 to 18 months. It could become a self-fulfilling prophecy as almost 70% of CFO’s are predicting a recession by the end of 2020.

.

GOP leader concedes tax cuts may not pay for themselves as 2019 deficit grows

U.S. House Ways and Means Committee Ranking Member Representative Kevin Brady (R-TX) sits for an onstage interview about the U.S. budget at the Peterson Foundation’s annual Fiscal Summit in Washington on June 11, 2019. (Jonathan Ernst/Reuters).

Rep. Kevin Brady (R-Tex.), a lead architect of the GOP tax bill, suggested Tuesday the tax cuts may not fully pay for themselves, contradicting a promise Republicans made repeatedly while pushing the law in late 2017.

Pressed about what portion of the tax cuts were fully paid for, Brady said it was “hard to know."

“We will know in year 8, 9 or 10 what revenues it brought in to the government over time. So it’s way too early to tell,” said Brady at the Peterson Foundation’s annual Fiscal Summit in Washington D.C.

The federal government’s deficit typically shrinks during strong economic times, but the deficit is up nearly 40 percent so far this fiscal year, according to the latest Congressional Budget Office report released Friday.

[ Trump vowed to eliminate the debt in 8 years. He’s on track to leave it at least 50 percent higher. ]

Spending is up $255 billion for the first eight months of the fiscal year, the CBO said, while revenues are up only $49 billion. Corporate tax receipts are down after Republicans enacted the largest reduction in business taxes in U.S. history. Individual income taxes are basically flat this year (they are growing less than the rate of inflation) . Most of the revenue increase is coming from President Trump’s tariffs and more payroll taxes, which were not cut in the tax bill.

“Revenue fell, it didn’t rise, after the tax cuts,” said Marc Goldwein, senior policy director for the Committee for a Responsible Federal Budget.

Brady’s comments are a marked departure from the claim many Republicans made during the tax bill debate that the tax cuts would be fully paid for by additional economic growth that would, in turn, spur additional tax revenues for government coffers.

Numerous independent analyses concluded that the tax bill would add substantially to the U.S. debt, which currently stands at $22 trillion. CBO estimated the total cost of the Tax Cuts and Jobs Act is $1.9 trillion — after taking into account additional growth and interest payments .

.

Will Trump administration tax cuts, spending hikes blow up deficit and doom economy?

Is President Trump blowing up the deficit and dooming the economy?

Trump's big tax cuts and spending increases have substantially widened the deficit – the annual gap between government income and expenses –  to nearly $1 trillion, lending fresh urgency to a debate that seemed to have vanished from the halls of Congress in recent years. 

Some economists and think tanks say the red ink could ultimately crimp the economy by pushing up borrowing costs for Americans and hampering the government’s ability to spend in a crisis. That could mar Trump’s economic legacy, much as a big debt run-up in the 1980s tainted President Reagan’s.

Meanwhile, the sum of all annual deficits and surpluses, the national debt, is an eye-popping $21 trillion. The ratio of national debt held by the public – which excludes things like Social Security – to gross domestic product is at 78 percent, the highest level in 70 years, according to the Committee for a Responsible Federal Budget, a nonpartisan, nonprofit group.

384

Also placing renewed focus on the deficit: The economic lift fueled by the Republican tax and spending measures is expected to fade this year. That’s sparking questions about whether the lingering hangover – higher deficits – will ultimately slow or derail an economy already set to cool.

...

During the Great Recession of 2007-09 and its aftermath, when President Obama spearheaded a $787 billion stimulus to resuscitate the economy, Republicans in Congress grumbled routinely about the mounting debt burden. But many of those deficit hawks have receded from the spotlight. The loudest, House Speaker Paul Ryan, R- Wis., retired last month after embracing the Trump tax and spending laws.

Some economists, however, says the calm may belie a coming storm.
 
 
 
Vic Eldred
1.1.12  Vic Eldred  replied to  Heartland American @1.1.8    5 months ago
The democrats will have a tough time running against the economy.  

As Mussolini once said about managing Italy: It isn't tough, it's impossible!"

 
 
 
XDm9mm
1.1.13  XDm9mm  replied to  Old Hermit @1.1.11    5 months ago
Obama inherited a shitburger economy heading toward our Countries worst downturn since the Great Depression and, after 8 years, handed off an economy that just reached the milestone of, "This is now the longest US economic expansion in history", this month. Of course our current incompetent buffoon of a President and his woefully under-preforming administration took the gift Obama left them and are currently doing every thing in their power to FRACK things up.

Tell me AH...   how many trillions of STIMULUS money was kicking the "Obama economy" up?  Most of that stimulus by the way was approved albeit not distributed BEFORE Obama took office.

Also, tell me exactly how long the FED was keeping interest rates at near ZERO percent?  Not only that, but they were pumping, what's that you say, 85 BILLION dollars a month into the economy to prop it up?

How about ONE Obama POLICY that improved the economy?  You can do that can't you?   Or would it be easier to post how many job killing regulations were created by Obama and his minions?  Yeah, I know, you don't have the time to do that.  Hell, the armies of bureaucrats working for Trump haven't gotten to all of them yet and we're two plus years in, so you don't stand a snow balls chance in hell of doing it.

Now Trump on the other hand has accomplished in two years what Obama couldn't do in 8 without help.  Jobs are coming back.  Black unemployment, unlike under Obama, is going down and is the lowest in history.  The same for Latino.  

Taxes have been cut, and no matter how the left rants and raves, all Americans that paid Federal Income Taxes saw more take home in their paychecks.

Consumer confidence is at all time highs and unemployment is at all time lows.

Yeah, Obama deserves some credit for taking the help congress and the Feds provided.  Trump deserves credit for fighting the Congress and working for the American people.

 
 
 
dennis smith
1.1.14  dennis smith  replied to  Old Hermit @1.1.11    5 months ago

 Nothing you say can be taken seriously when you constantly use grade school words.

 
 
 
MUVA
1.1.15  MUVA  replied to  Tessylo @1.1.4    5 months ago

No I'm CEO or owner if you like so you are wrong.

 
 
 
Tessylo
1.1.16  Tessylo  replied to  MUVA @1.1.15    5 months ago

[DELETED]

 
 
 
Tessylo
1.1.17  Tessylo  replied to  Tessylo @1.1.7    5 months ago

And flaws isn't even the right word.  Total scumbag.  

 
 
 
MUVA
1.1.18  MUVA  replied to  Tessylo @1.1.16    5 months ago

Is that suppose to be a insult well it needs work.

 
 
 
Heartland American
1.1.19  seeder  Heartland American  replied to  XDm9mm @1.1.13    5 months ago

You point the above out to our progressive friends here on a regular basis and they never get it.  Trump is doing an awesome 👏 job as our President.  🇺🇸 

 
 
 
XDm9mm
1.1.20  XDm9mm  replied to  Heartland American @1.1.19    5 months ago
You point the above out to our progressive friends here on a regular basis and they never get it.

Repetition.  Eventually, the truth will hopefully find a small opening to get in and potentially find a way to repair the damage done to those poor people.  They really should not be required to go through life as mentally hampered as they apparently are.  No one should be required to go trough life as a progressive/socialist dependent on others for their very existence.

 
 
 
JohnRussell
2  JohnRussell    5 months ago

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. 

https://news.gallup.com/poll/203207/trump-job-approval-weekly.aspx

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. 

 
 
 
Texan1211
2.1  Texan1211  replied to  JohnRussell @2    5 months ago
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.
https://news.gallup.com/poll/203207/trump-job-approval-weekly.aspx
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.

Trump already won one election many said he didn't have a chance of winning.

 
 
 
Heartland American
2.1.1  seeder  Heartland American  replied to  Texan1211 @2.1    5 months ago

All the other polls have shown a recent up trend in Trumps approval ratings.  

 
 
 
dennis smith
2.1.2  dennis smith  replied to  Texan1211 @2.1    5 months ago

Some still believe in the polls that lied to them last election. Hopefully they will continue to do the same.

 
 
 
Heartland American
2.1.3  seeder  Heartland American  replied to  dennis smith @2.1.2    5 months ago

I hope the dems win Californication by 5 million votes in 2020 and still lose the general election and the electoral college.  California would deserve that outcome, as does America. 

 
 
 
Paula Bartholomew
2.1.4  Paula Bartholomew  replied to  Heartland American @2.1.3    5 months ago

You are still part of CA, so I guess you would deserve it too.

 
 
 
Heartland American
2.1.5  seeder  Heartland American  replied to  Paula Bartholomew @2.1.4    5 months ago

I’m that for now until we win statehood for Jefferson.  I’d welcome that outcome.  We do enjoy being a big red portion of a blue state while we are a part of it.  This part of California really is proud to be MAGA country! Trump 2020!  

 
 
 
Ronin2
2.2  Ronin2  replied to  JohnRussell @2    5 months ago

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 much else to campaign on. 

He doesn't have to.

https://www.msnbc.com/the-daily-rundown/watch/its-the-economy-stupid-44402755587

https://www.ft.com/content/b8e4f7c8-5070-11e9-9c76-bf4a0ce37d49

Whenever Democrats waver, Ms Pelosi should remind them of recent US history. The phrase, “It’s the economy, stupid” was pasted by James Carville, Mr Clinton’s 1992 election guru, on the campaign’s office walls. Their opponent was George HW Bush. He was one of the most decent figures ever to occupy the Oval Office. But he was unable to match the economic optimism of Mr Clinton. Even then — in far gentler times — the US voter chose a serial adulterer over an uxorious grandfather. The moral of the story is hard to miss.
 
 
 
Jack_TX
3  Jack_TX    5 months ago

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.

 
 
 
katrix
3.1  katrix  replied to  Jack_TX @3    5 months ago

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.

 
 
 
luther28
3.1.1  luther28  replied to  katrix @3.1    5 months ago
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.

 
 
 
Heartland American
3.1.2  seeder  Heartland American  replied to  luther28 @3.1.1    5 months ago

Hillary Clinton was definitely the greater evil by far in 2016.  

 
 
 
Jack_TX
3.1.3  Jack_TX  replied to  Heartland American @3.1.2    5 months ago
Hillary Clinton was definitely the greater evil by far in 2016.

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.

 
 
 
Tessylo
3.1.4  Tessylo  replied to  Jack_TX @3.1.3    5 months ago

How so when Hillary won the popular vote by almost three million?

Your math is seriously flawed.  

 
 
 
Jack_TX
3.1.5  Jack_TX  replied to  Tessylo @3.1.4    5 months ago
How so when Hillary won the popular vote by almost three million? Your math is seriously flawed.  

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".

 
 
 
Heartland American
3.1.6  seeder  Heartland American  replied to  Jack_TX @3.1.3    5 months ago

His behavior on his recent trip abroad and the 4th of July seem to reflect the behavior and landslide you mentioned.  

 
 
 
Heartland American
3.1.7  seeder  Heartland American  replied to  Jack_TX @3.1.5    5 months ago

Seven million of Trumps voters voted for Obama 2x in the prior two elections.  They truly elected Trump as a good number of those were in Pennsylvania, Michigan, Wisconsin, Florida, Ohio.  

 
 
 
Heartland American
3.1.8  seeder  Heartland American  replied to  Jack_TX @3.1.5    5 months ago

Your math is correct.  In states that Trump won in 2016 he will likely win by a bigger margin in 2020 and in many of the states he lost in 16 particularly along the northeast and Pacific and South lake Michigan coasts will likely lose by a bigger margin than 16 in 20.  But he will be re elected. Minnesota is one state that could flip red this time.  

 
 
 
Freedom Warrior
3.2  Freedom Warrior  replied to  Jack_TX @3    5 months ago

Only an asshole could hope to achieve what Trump has accomplished.  You don't seriously think some milquetoast RINO could have stood up to the onslaught of douchebaggery that is the fallout of running afoul of a rabidly diseased opposition. 

 
 
 
Heartland American
3.2.1  seeder  Heartland American  replied to  Freedom Warrior @3.2    5 months ago

You are exactly right.  Well said.  Dems denial of the strength of the Trump economy is less than useless.  

 
 
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