Trump ends his presidency with a rise in unemployment and fewer people working than when he took office. He sucks. And more than 360,000 Americans dead from a pandemic, .
Obama had lower unemployment and more people working than when he took office. Obama had a pandemic and Ebola and managed to lose less than 20,000 Americans.
Trump Sucks. He’s like the Atlanta Falcons. He knows how to end as a loser no matter how good things are at the start and middle.
By getting rid of him We Made America Great Again.
Originally Posted by 1blackman1
You're misinformed. Before Covid the unemployment rate was the lowest it had been seen 1969:
https://fred.stlouisfed.org/series/UNRATE
Hispanic unemployment was the lowest since the St. Louis Fed started keeping the statistic:
https://fred.stlouisfed.org/series/LNS14000009
Black unemployment was the lowest since the St. Louis Fed started keeping the statistic:
https://fred.stlouisfed.org/graph/?g=objj
Yes, a lot of people became unemployed as a result of Covid. Still, our latest unemployment rate (6.7%) is much lower than the Euro area (8.3%):
https://tradingeconomics.com/country...mployment-rate
I attribute the preceding more to Paul Ryan and American Hero Mitch McConnell than I do to Donald
Trump. The Republican Party's policies were better for the middle class and the poor than the Democrat's:
The Census Bureau reported median household income for 2019 a couple of weeks ago.
Please note that "median" doesn't mean the same as average. It means the middle number. Fifty percent of American households in 2019 made less than the median income and fifty percent made more. So this number is very representative of how the middle class is faring.
The 2019 figure is striking, $68,703 per household, up 6.8% from 2018. During Obama's entire 8 years in office, coming out of a recession which should have goosed growth and wages, the increase was only 5.8%
This is very good news. The middle class did not do particularly well during the period of time when George W. Bush and Barrack Obama served as presidents. (Aside: I don't place the blame primarily on those two leaders -- there are many other factors that affect income growth besides what the president does or does not do.)
In fact, median household income when Obama left office had barely budged since 1999 and 2000, when the policies of a Republican Congress and President Clinton (welfare reform, a balanced budget, free trade, a lower capital gains tax) helped usher in a golden age. See this chart and click on "Max" for some historical perspective: https://fred.stlouisfed.org/series/MEHOINUSA672N
So what happened? I believe a huge part of the reason for the growth in median household income last year was the Ryan/Trump tax cuts for corporations, and for pass through businesses with lots of employees, in 2017. Trump's deregulation helped as well. Businesses expanded. There was more competition for labor. Unemployment went down. Wages went up.
The Wall Street Journal published a piece on the Census numbers. It wasn't just the middle class that did well:
Poverty fell 1.3 percentage points last year to 10.5%, the lowest level since 1959, and declined more for blacks (2 percentage points), Hispanics (1.8), Asians (2.8), single mothers (2.6), people with a disability (3.2), and no high-school diploma (2.2). The black (18.8%) and Hispanic (15.7%) poverty rates were the lowest in history.
As family household incomes increased, the child poverty rate also declined to 14.4% from 16.2% in 2018 and 18% in 2016. The decline in childhood poverty last year was nearly twice as much as during the entire Obama Presidency. The most pro-family policies are those that increase jobs and wages.
Income inequality last year also declined by most measures as the bottom quintile’s share of income grew 2.4%.
The share of households making less than $15,000 in inflation-adjusted dollars declined to 9.1% last year from 10.4% in 2016 and 11.2% in 2010. At the same time, the share with income between $75,000 and $200,000 increased to 36.1% from 34.4% in 2016 and 32.8% in 2010 while the percentage earning more than $200,000 ticked up to 10.3% from 8% in 2016 and 5.9% in 2010.
In other words, all Americans were gaining economic ground. But lower and middle-class Americans enjoyed the largest gains relative to the Obama Presidency.
https://www.wsj.com/articles/the-hig...s&page=1&pos=1
Acknowledgements
I want to thank Eccieuser for participating in my series of "For Eccieuser" threads, and for reciprocating with a couple of "For Tiny" threads as well. I am trying to enlarge my audience, and in the hopes that three or four people who are left of center will read this post instead of just one, I have titled it "For Esteemed Posters on the Left", instead of "For Eccieuser."
I would also like to thank some of the posters here who suffer from TES (Trump Enlightenment Syndrome), who showed me that there's a way to put words that start with t, like Tiny and Trump, in tiny text.
Originally Posted by Tiny
