The stronger the U.S. economy gets, the more desperate the Democrats are to convince people otherwise.
The unemployment rate droppedto 3.6 percent in April — the lowest level since 1969 — and average hourly earnings have jumped by 3.2 percentover the past 12 months. GDP growth is also back up over 3 percent, a milestone that Barack Obama and other liberals ridiculed Donald Trump for promising back in 2016.
However, despite the positive economic data, Democrat candidates for president are determined to paint a deceptively bleak portrait of the economy as they hoodwink potential voters.
Senator Kamala Harris, for instance, recently slammedPresident Trump’s economic policies, arguing that they have done little to help the middle class.
“Let’s speak truth. America’s economy is not working for working people,” she said, claiming the economy is doing well simply because taxpayers are “working two or three jobs to put food on the table.”
Actually, the number of so-called “multiple jobholders” has remained steady throughout Trump’s time in office. In April, 5.0 percent of workers held more than one job, compared to 5.1 percent on Election Day 2016. The number of part-time workers, meanwhile, has decreased by about 470,000 people since President Trump’s inauguration, even as the economy has added roughly 5.4 million new jobs.
Similarly, former VP Joe Biden took a swipe at the President’s economic agenda, askinghis supporters if they really felt the effect of the middle class tax cuts. Biden argued that “the godawful tax cut has not helped anybody who’s real, anybody out there breaking their neck trying to figure out how to make the next meal.”
As economist Kevin Cochrane recently explained, the Tax Cuts and Jobs Act reduced the average American’s federal tax bill by about 25 percent last year. Moreover, about 80 percent of taxpayers received a tax cut from the Trump plan, demonstrating that the benefits flowed to nearly every corner of the country.
“So, the new tax law didn’t increase people’s taxes — it reduced them, and by a lot,” Cochrane concluded.
Democrats have a compelling reason to lie about the ongoing economic renaissance — if the U.S. economy continues to boom the way it has for the past two years, President Trump is very likely to win reelection.
Tax cuts, deregulation, new trade deals that have revived manufacturing, and the host of other winning economic policies President Trump has instituted are the antithesis of the big government, heavy regulation, and big bailout economy of the Obama-Biden era. Have no doubt where this boom is coming from.