Let’s take a look at some current economic statistics:
Year over year for Quarter 2, 2018: GDP up more than 4 percent. Average wages up more than 3 percent. Inflation is at 2 percent. Exports growth: 9 percent.
Wages are increasing faster than inflation year over year for the first time since the Bush 43 presidency.
Unemployment stands at 4 percent – with the lowest unemployment for blacks and Hispanics in the history of America.
Six hundred thousand workers joined the available workforce last month – the people President Obama’s Labor Department took off the available rolls in calculating the Obama unemployment rate.
Obama was the only eight-year U.S. president in history not to achieve an annual GDP growth of at least 3 percent for any one year. He promised that Obamacare would reduce health-care costs by $2,500 per family. Instead, health-care costs increased by $3,000.
Wages under Obama never increased more than inflation. For the eight years of Obama, GDP grew a total of 14 percent (compound annual growth of 1.5 percent), while inflation was 21 percent, for a net loss of 7 percent to purchasing power. Average unemployment for the eight years of Obama was 7 percent, even with the removal of a million people from the available rolls when calculating the unemployment rate – compared to 5.3 percent for Clinton and 5.4 percent for W. Bush. Yet, the liberal media cartel and economists continue to defend the Obama economic record. Silly and stupid.
The majority of pundits predicted at the end of 2016 that the economy would fall into a recession within 18 months after the election of Trump. Oh, those pundits are so wrong about so many things.
So, then, why is the economy doing so well now?
- removed more than 900 Obama rules, regulations and executive orders during the first 90 days in office that were stifling economic growth.
- lowered corporate taxes, which encouraged corporations to move money and business back into the USA, which in turn increased demand for American employees, which increased average wages.
- reduced taxes for average working Americans. An average family of four with income of $46,000 per year received a decrease in taxes of $990 (an average increase to net income after taxes of 3 percent). An average wage increase plus net after-tax-reduction saving (3 + 3) = 6 percent increase to net income after taxes for average working families, which increases discretionary consumption by 6 percent.
- decreased tax deductions for the rich which increased effective taxes on the rich without any impact to discretionary consumption.
- cracked down on immigration that was driving down wages for American workers.
- imposed tariffs on imports, forcing foreign countries to remove their tariffs on U.S.-made products if they want the tariffs on their products removed.
- began renegotiating NAFTA. NATO countries are paying more for their own defense. TPP is gone. BREXIT. The EU is negotiating to drop all tariffs on American-made products: free trade. The Iran nuke deal is gone.
- held summits with Russia and North Korea.
- enabled the pumping of U.S. oil at more than 10 million barrels a day for the first time in 50 years, which spells energy independence. (Rex Tilllerson got that right.)
So what are the headlines in the liberal media cartel today?
“Cohen has more tapes”
“Don Jr. met with Russian lawyer:
“Mueller is pursuing more emails about obstruction”
“Ryan won’t pursue impeachment of Rosenstein”
In the Washington Post:
“Trump touts ‘amazing’ economic growth; economists caution it as a blip”
“How Trump’s deal to free an American pastor in Turkey fell apart”
In the New York Times:
“Economy Keeps Surging in Quarter, With Some Asterisks”
“Mueller Looking at Tweets in Obstruction Investigation”
How about the Los Angeles Times?
“California Attorney General waging war against Trump”
“Trump denies knowing about 2016 Trump Tower meeting ahead of time”
“Economists don’t think this economy will continue”
Silly and stupid. The liberal media cartel is so biased against Trump that they refuse to acknowledge what is probably the most singly important thing to impact average Americans: this positive economy and how it affects their lives. And even when the cartel doe acknowledge it, they have to add comments with asterisks and add how economists think it is a blip that will not continue. Those are the same pundits and experts who thought at 6 p.m. on Election Night that Clinton would win at least 300 electoral votes and then on the next day that the economy would fall apart within 18 months because of the election of Trump.
Silly and stupid. How can anyone trust what comes from the liberal media cartel, liberal pundits, liberal economists and liberal experts?
This is Trump’s economy. The economy is doing so well that liberals have to spin the economic news with obscure analysis, mirrors and witchcraft. It would make them vomit to say anything good about Trump. And average working Americans see through it, just as they see through all the other negative reports about Trump. Silly and stupid.