Dr. Robert Owens Chronicles the History of the Future

The Trump Bump Stumps Chumps November 12, 2019

Here’s a sampling of some of the positive economic headlines and pull quotes after almost three years of President Trump’s effort to Make America Great Again:

Trump’s Economic Triumph: “Prosperity is increasing, and the less well-off are benefiting the most.”

Trump economy is really experiencing a middle-class boom — this data doesn’t lie: “Median household incomes under Donald Trump have soared from $61,000 to an all-time high of $66,000 in less than three years into the Trump presidency. This is tremendous news and documents substantial middle-class prosperity in Trump’s first three years in office.  The $5,003 rise in middle-class incomes is especially impressive given that incomes only rose by $1,200 in the seven years under Obama”

Trump’s Economy Is Working for Minorities: “The U.S.’s long economic expansion has been particularly beneficial for minority workers. … The unemployment gaps between both blacks and whites as well as Hispanics and whites have reached all-time lows. It’s not just that the job market has been good: For minorities, it has been historically good.”

Trump economy surges while Biden and Obama hog the credit: Middle-class incomes have grown almost three times faster under Trump than under Obama. This is like trading in a Pinto for a Porsche and as you’re flying down the highway saying it’s just a trend.  Small business and consumer confidence as well as the stock market surged in the days after the Trump election and have stayed high ever since.  Coincidence?  Hardly.

More to the point, most of Trump’s policies have been to reverse Obama policies, not to continue them. Obama raised tax rates; Trump cut them . Obama grew regulations at a record pace; Trump has been rescinding them at a record pace.  Or as the Washington Examiner expressed it, “Trump kills 16 regulations for every new one, crushing the 2-for-1 goal.”  Obama negotiated the Paris climate accord — a $100 billion tax on the American economy — and Trump smartly pulled us out.

What’s next?  Will Jimmy Carter start taking credit for the Reagan boom?”

Of course the Corporations Once Known as the Mainstream Media work overtime filling the airwaves, headlines, and the wall-to-wall cable chatocracy with fake news telling us how lower taxes and less regulations will destroy of the American economy.

In reality, the Trump program of tax cuts for workers, deregulation, and policies that put American industries first—from farmers to manufacturers to energy producers—is finally allowing the United States to negotiate from a position of strength.

The fact is that the self-appointed experts who broke our economy have no idea how President Trump is fixing it.  The very thought that free enterprise, individual liberty, and economic opportunity might be just what’s needed to reinvigorate the over-regulated and centrally-planned nation in decline they devised doesn’t even register as a possibility.

American jobless claims fall week after week.  This means fewer of our citizens have to file for unemployment benefits in what is now a strong labor market.   Surprise – surprise – surprise the democrats who pose as reporters and their in-house economists didn’t see that coming.  Did you ever notice how every positive report is accompanied shock and bewilderment.

While the economy is surging across the board for an example of why let’s take a moment and think about the so-called trade war with China.  For years, both Democrats and Republicans promised to hold Beijing accountable for breaking the rules on trade. For instance China is responsible for 87 percent of the counterfeit goods seized entering America which costs us an estimated 600 billion per year.  Its intellectual property theft is estimated to cost U.S. employers another 600 billion each year.  Its average tariff rate on our goods entering their country is nearly three times what we charge them.

Unlike past leaders, President Trump is actually keeping his promise to make China play by the rules. The socialists don’t like that.  They’ve argued for years that upsetting the Chinese communists by calling them to account will hurt our economy.

But that doesn’t appear to be the case.

Andy Puzder the former CEO of CKE Restaurants wrote for Fox News: “Here in the U.S. – despite claims that tariffs would end the current economic recovery and increase consumer costs – our economy remains the envy of the world.  Inflation is in check, unemployment is near a half-century low, wages are surging, and economic growth is continuing to beat expectations.”

Puzder continued, “A skilled negotiator like President Trump knows that you should never rush into a deal, even if the political benefits are compelling.  As a nation, we would eventually pay the price for a deal driven by politics rather than substance.”

How is President Trump’s policy of standing up for America impacting China?  President Donald Trump’s top economic advisor Larry Kudlow said on CNBC’s Squawk on the Street. “The Chinese economy is crumbling. It’s just not the powerhouse it was 20 years ago. …  Any long chart of Chinese investment or economic metrics shows a steady downdraft.  …  Their GDP, which is probably inflated by several points, is coming in lower and lower. …  The economic burden of these tariffs is falling almost 100 percent on China.”

As highlighted above the Trump Economy is already strong, especially for the blue-collar workers who need it most.  Once the President’s America First policies persuade China to end its decades-long trade war on America, the United States’ economic future will be shining like a bright sunrise after a long dark night.

So while the left’s continually surprised self-appointed experts claim President Trump doesn’t know what he’s doing on trade or the economy the results prove they’re the ones being schooled by the reality of the Trump Bump or as my purposefully attention grabbing alliterative title puts it, “The Trump Bump Stumps Chumps.”

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens