Monday, November 02, 2020
Trump’s FAKE economy.
As you get ready to vote, it’s reasonable to look at the facts about Trump’s legacy. And foremost, Republicans want you to believe he had, until Coronavirus, an economic record to brag about. That may not be so true. And given his horrendous response to Covid-19, it’s fair to include that disaster in his record as well. But first, let’s consider his results for the Pre-Coronavirus years. Even pre-pandemic, the only thing extraordinary about what Trump accomplished is the misleading rhetoric from Trump and Republicans to convince you he accomplished anything special. Let’s look and see why that’s true. Trump inherited a growing economy in recovery. But, his supporters argue, he took a tepid recovery and gave it gas. Maybe, but how much gas? Not much, it turns out. In the last 3 years of the Obama administration more jobs were created than in the first 3 years under Trump. If you factor in the pandemic, which is fair since Obama dealt with Flu pandemics and Ebola---he just handled them better---there would not even be a comparison to make! BUT, we will leave out 2020---for now. Economic growth? Obama averaged 2.3 %, Trump 2.5 %. Obama promised nothing but to turn the country around---and he did. Trump promised 4% growth and missed BIGLY! Now, before Covid, Trump had an unemployment rate of 3.5%. Amazing you say! Well, when he took over form Obama the unemployment rate was 4.7%. Down another 1.2---not so amazing, after all, at least not compared to Obama/Biden. Obama/Biden took over a rate that was still going up because of the Great Recession and would hit 10% soon after Obama came into office. He brought it down to 4.7%---now that’s amazing! Stock and income growth, similar under both presidents. I say similar because they actually are better under Obama, but he did what Republicans never do---got us out of recession, not into one! But that tends to give your numbers a boost because they are coming from a downturn. We are seeing that now because Trump was crowing about 2020’s 3rd quarter growth, but it was only so high because of the great Trump Virus Contraction and Recession of the second and third quarters. Which he is now extending thanks to his complete inability to deal with the ongoing crisis. But here is why Trump’s economy is really FAKE NEWS. Because to get what little he got---he piled on the debt, another $2 trillion! And what did we get for that $2 trillion? Did Trump fix our roads and bridges as he promised? NO. A new, better, cheaper health care plan, that Trump promised? NO. A wall funded by Mexico? NO. Funded by us? YES, but only a little piece because we weren’t supposed to pay for it and don’t have the money for it---in fact he stole what we’ve paid so far form our military budget. We got nothing that Trump promised. But what we did get for the $2 trillion---is our rich got richer, our corporations paid little taxes and blew through all the excess gains by raising their stock prices, lining their pockets and when the pandemic hit---they were broke, unprepared, with nothing saved for a tough time and then they---begged for government socialist handouts! And drove up the deficit even more! That’s why Trump’s economy is all FAKE NEWS. He didn’t do any better than anyone else. He started with a head start form Obama/Biden that most administrations never have the luxury of starting from. Certainly, Obama/Biden didn’t---they started with the previous Republican administration’s Great Recession. Trump didn’t deliver any of the desperately needed infrastructure improvements, he didn’t deliver a better, cheaper health plan, or ANY health plan and yet he took Obamacare to court and is trying to end its coverage and its protections! THINK ABOUT THAT. He didn’t even deliver on his global promises. While the results of his trade deals are still on hold because of the pandemic, it is worth noting that neither Trump nor his supporters seem to understand how tariffs work? China doesn’t pay the tariffs. Tariffs are a tax on imported products. They get paid by U.S companies that import the items when they enter the U.S.. often, these companies then pass the costs of tariffs on to customers----us---by way of higher prices. Or they don’t—and they eat the costs and have lower profits. But CHINA MOST CERTAINLY IS NOT PAYING THE TARIFFS! However you look at it, the Trump economy pre-Covid was a very, very expensive, very, very mediocre economy. Now, we can factor in 2020. The United States has the worst response to the pandemic of any leading nation---or just about any nation—period. Worse death rate, worse spread, longest downturn, hardest hit economy. That’s on the Trump administration and it’s ineffective first response (downplay the virus and ignore it) followed by its awful continued response (continue to let people spread the disease, and tell everyone how great we are doing while our infection rate and death rate is a modern health catastrophe). Think about all of this---the facts---the truth---as you get ready to safely #Vote2020. We can turn this around. We can fix this. There is a reason Joe Biden and Democrat Senate candidates are all leading by huge numbers in the polls. Because the American voters know that our lives and our country’s future, depends on this election. #Vote2020