Trump brags about the economy, but why?
The stock market has boomed but over 80 percent of the stock market is owned by the richest 10 percent of Americans so most Americans don’t feel a boom, but more of a prod on their backside.
Tariffs? Trump’s steel tariffs have cost Ford $1 billion, forcing Ford to plan mass layoffs.
And despite the 4.2 percent growth for Q2, adjusted for inflation, hourly wages aren’t much higher now than they were in 1975.
Trump cut taxes for the rich, and promised average people $4000. But no one got it, and that’s why you don’t hear shit from the GOP this fall about the tax cut.
Trump and GOP refuse to raise the minimum wage, while Trump’s Labor Department repeals a rule that increased the number of workers entitled to time-and-a-half for overtime.
Yes, unemployment is down to 3.7 percent, if you’re white. Black unemployment is double that for whites. But jobs are less secure than ever. Contract workers – who aren’t eligible for family or medical leave, unemployment insurance, the minimum wage, or worker’s compensation – are now doing one out of every five jobs in America. And to that end, the Dept of Labor Department is allowing more companies to reclassify employees as contract workers.
Great economy? Housing costs are thru the roof, with Americans now paying a third or more of their paychecks in rent or mortgages.
Trump’s response? Drastic cuts in low-income housing and triple the rent paid by poor households in subsidized housing.
Healthcare costs continues to rise faster than inflation. Trump’s response? Undermine the Affordable Care Act. Over the past two years, according to a survey by the Commonwealth Fund,
some 4 million people have lost healthcare coverage,
Climate change? Four Cat 4 hurricanes in back to back hurricane seasons. Never happened before.Trump’s response? Mumble about politically motivated scientists and allow more carbon into the atmosphere and make climate change even worse.
Most Americans don’t live in the economy to which Trump speaks. That of wall street and tax cuts. They live in a personal economy that has more to do with wages, job security, commutes to and from work, and the costs of housing, healthcare, drugs, education, and home insurance.
Trump’s actions are adversely affecting his supporters, but his talent for obfuscation and deceit still win the day.