Trump’s Economy vs. Obama’s Economy – Part 2

On January 20, 2017, Donald Trump entered the White House having inherited an economy that produced almost 18 million new jobs (82 months of private sector job growth) a record by his predecessor. He inherited an economy that quadrupled the value of the stock market & restored the value of 401ks to pre-recession levels. He inherited an economy that went from 10.2% unemployment to 4.7% unemployment. That’s a 5.5% cut in the jobless rate by his predecessor despite record Congressional obstruction.

So, lets see what Trump has done since entering office. His first move was to deregulate all the major industries from Banking & Coal to Pharmaceuticals & Oil. The result of this move has been a drastic reduction in clean air & clean water standards & the toxic dumping of wasteful coal materials into our waterways exposing our rivers and lakes to pollution. His deregulation policy has allowed banks to return to their predatory lending practices. The second move was passing a massive $1.6 Trillion tax cut with a GOP controlled Congress. This resulted in a massive giveaway to the top 1% & a tax hike for the middle class who saw their tax returns reduced or eliminated all together because their tax bracket changed due to a tax withholding gimmick placed in the tax law.

Trump promised to bring back manufacturing. He has not. We are seeing layoffs in the rustbelt states like Michigan & Ohio by giant companies like GM. His bizarre trade war is having a negative affect on the economy. He promised 4, 5 even 6% GDP growth in the economy. His policies have produced just 2% GDP growth.

Finally, lets compare. Obama’s economy grew at a 2.5 – 3% GDP rate. He even achieved 4% GDP 6 times during his Presidency. Trump has only achieved 4% GDP once in his tenure. Trump has produced roughly 4.2 million jobs in his nearly 3 years in office. The National Unemployment rate is 3.6%. Trump has only cut 1.1% off the jobless rate since Obama left office.

Obama cut 5.5% off the jobless rate in 8 years despite record opposition from the GOP. Trump has reduced the jobless rate by 1.1% in 3 years. At Trump’s current rate of job production, even with a second term included, he’s on pace to cut the jobless rate by less than 4% at the end of a second term. That’s generous assuming that there is no recession during his Presidency.

So, the numbers don’t lie. The President who has produced the better economy is Barack Obama. Facts matter!

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Trump’s Economy vs. Obama’s Economy – Part 1

Our economy over the past 11 years has been very good. So, lets dive into the numbers. When Barack Obama took office on January 20, 2009, the U.S. economy was in a deep recession. We were losing 800,000 jobs a month, over 9 million jobs left our shores & went overseas, over 5.5 million homes were foreclosed upon, the stock market dropped below 8,000, Americans 401k’s had been reduced in value to practically nothing & the unemployment rate had topped 10.2%.

Obama attacked the problem by passing an $850 Billion stimulus. 98% of the stimulus went to the middle class, working poor & small businesses. Next, he passed a Home Foreclosure bill which dramatically reduced the home foreclosures & allowed millions of homeowners to negotiate with Mortgage companies to stay in their homes. Then, Obama passed his signature piece of legislation the Affordable Care Act known as Obamacare. The healthcare law got 30 million Americans healthcare coverage who didn’t have it before. It cut prescription drug cost for seniors by 50%. It reduced our deficit by $1.3 Trillion over 10 years. To break that down, that’s a $130 Billion cut in our deficit every year for 10 years thanks to the Affordable Care Act.

The results of Obama’s policies were frankly remarkable. Obama produced almost 18 million new jobs, he stabilized the housing market, quadrupled the stock market which reached 20,000 when he left office & increased the value of 401ks to pre-recession levels for more than 25 million Americans.

When you tie in Obama’s foreign policy success, which includes the draw down of 2 wars saving the country over a $1 Trillion, the killing of Osama Bin Laden & the decimation of Al Qaeda, with his domestic policy success what you have is a great Presidency. Obama left office with a 60% job approval & an unemployment rate of 4.7%. – Cont.

 

El Paso & Dayton – The Last Straw

Over the weekend, we witnessed two of the most horrific mass tragedies in our country’s history. In El Paso, TX, a lone gunman entered a Walmart and killed 22 people injuring 26 more. The gunman, a white male, traveled 600 miles from Dallas to El Paso to commit mass murder.

Less than 24 hours later, another gunman, a white male, killed 9 people and injured 20 more in Dayton, OH. The gunman cut down 9 innocent people in 30 minutes.

For decades, the country has demanded action on ending gun violence only to be thwarted by the Republican Party in Washington D.C. President Trump has in despicable and ignorant fashion attempted to blame the media, video games & mental health for the tragic events this weekend. Who is he kidding?

History will judge this President & the GOP harshly. They will forever be known as the party who sold out to the NRA. Trump and his ignorant, racist party have chosen hate, greed, power & division over morality & diversity.

We are at a crossroads in this nation. We have to ask 2 fundamental questions. Who are we as a nation? Also, what do we want to be? If you support Donald Trump and his white nationalist ideology, then, you are a racist. Don’t fake outrage when you are hit with the truth about yourself. Own your racism. We will own diversity. In the end, diversity & love will win.

Puerto Rico

Puerto Rico is roughly 90 miles south of Florida. Puerto Rico is an island rich with beauty & culture. However, corruption and financial mismanagement have frustrated many on the island. Puerto Rico was $70 Billion in debt prior to Hurricane Maria’s impact on the island.

The damages to the island totaled $93 Billion. The Trump administration’s handling of Puerto Rico has been an abject failure. They committed just $20 Billion in FEMA funds to rebuild the island.

Many Americans don’t realize that A.-Puerto Rico is U.S. territory B.-Puerto Ricans can vote in primary elections but not in general elections to pick a President. Also, Puerto Rico has no real representation in Washington D.C.

Bottom line is this administration can setup photo ops for this corrupt President. But, they can’t setup a plan that alleviates Puerto Rico’s debt and establishes a real rebuilding plan that improves the infrastructure, fast tracks funds to homeowners and attracts investments to spur economic growth & jobs.

The federal government’s handling of Puerto Rico has been atrocious. Either give Puerto Rico full American citizenship rights & make it the 51st state or renounce any claim to the territory & grant them independence.