These are few excerpts from an article in the LA Times, with a few comments of my own thrown in! It was long so I am going to try and shorten it so some of you might read it. Actually nothing I have not said before, but here goes again!
President Trump stood before a crowd of small-business owners at a hotel last week and said that his administration’s economic policy could “be summed up in three very beautiful words … jobs, jobs, jobs.” But when it comes to jobs, Trump is like the wealthy heir who, as the saying goes, was born on third base and thinks he hit a triple.
Unemployment rates for blacks, Latinos and all Americans began a steady decline in late 2009 that has continued since Trump took office. The same is true with the plunge in first-time claims for unemployment benefits.
And the 3.4 million jobs created in the 18 months from December 2016 through May of this year isn’t such an unbelievable number. The U.S. economy added 3.7 million net new jobs in the 18 months immediately before that.
It was Obama administration policies plus Federal Reserve policies that engineered a recovery from the depths of the Great Recession and that continues. The tax break given to the rich has kept it going, but that will not last as the break for the middle class disappears. Also, inflation has been on the rise since Trump took office and wages have not increased even though there are more jobs, so the average worker makes less, not more!
So, Trump needs to also thank Obama for the current economy, but that is never going to happen! However, we the people need to look at the figures, figures that are easily accessed if you actually care to know the facts, and realize that you have to dig out the truth for yourself! If you have not figured it out, Trump is a liar, plain and simple! To be fair, he has kept the momentum Obama created going, but we have created more debt in the last year than any time in history and we are still creating more, and that will bite us in the ass!
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