Lots of news spouting from the Trump mouthpieces recently. But are they the truth or another example of taking credit for other people’s work?
Let’s look at the facts, shall we.
Trump’s economy has created 1.7 million new jobs since he took office…TRUE.
The rest of the story you’re not supposed to look at too closely…
Let’s examine the same time frame (January to December) of each of the years since 2010.
2010 – 951, 000 new jobs
2011 – 1.839 Million new jobs
2012 – 1.54 Million new jobs
2013 – 2.044 Million new jobs
2014 – 2.553 Million new jobs
2015 – 2.24 Million new jobs
2016 – 1.959 Million new jobs
Source: The US Bureau of Labor Statistics.
Trump economic unemployment rate is at 4.1%…TRUE
The rest of the story, since 2010, when the unemployment rate hit a staggering 9.8%, it has been experiencing a gradual annual decrease since.
Let’s take a look at the December #’s for each year.
2010 – 9.3%
2011 – 8.5%
2012 – 7.9%
2013 – 6.7%
2014 – 5.6%
2015 – 5.0%
2016 – 4.7%
Stock Market tops 25,000…TRUE AGAIN.
But for the rest of the story; in this one I must give credit where credit is due.
Though the market has been rising steadily since 2009, it took a massive 23% jump with the news of Trumps election. Mostly due to big business riding on the wave of Trump’s promise of huge tax cuts for corporations. But who really is profiting from the stock market rise? The biggest winners; companies like Apple, McDonalds, and Boeing… all companies that rely heavily on overseas sales and have capitalized on the weakened US Dollar. In the case of Boeing, which has seen nearly 70% soar in shares, mainly is profiting from growing defense budget.
Let’s not forget the fact that only 21% of all households making $30000 or less can even afford to venture into the market. Most of those only with the 401k’s offered through their employment.
Who gains? Once again the rich get richer.
Now, we all know that it takes months, or even years, for an economic plan to show any signs of its effectiveness. So we will not know what the tax cut bill brings to the table for any of us. The question we must ask ourselves is though…Can we really rob Peter and expect to still pay Paul? I suppose, just because it hasn’t happened since the beginning of time, does not mean that it won’t. But, highly unlikely.
So the moral of this story remains. Just because someone said it is true… and we so desperately want it to be true…does not mean that it is true.
Always look for the rest of the story.