Phoenix68
Well-Known Member
- Joined
- Mar 12, 2022
- Messages
- 9,299
"Presidunce Trump has inherited (as usual) an economy that set a record Friday with 77 consecutive months of job growth, or, as put it, a “mess.”
In Trump’s first full month in office, the economy added 235,000 jobs, the unemployment rate ticked down to 4.7 percent, and wage growth picked up a little to hit 2.8 percent over the past year. The U.S. economy might not quite be great again, but it’s on its way — and it has been for a long time. Indeed, as you can see below, this is the same recovery we’ve had for almost eight years: slow and steady growth, averaging somewhere around 180,000 and 200,000 jobs a month over the past three years. This hasn't been enough to cut unemployment at anything but a gradual pace, but 77 months of a gradual pace can get you pretty far.
The bad news for Spanky is that there isn’t much he can do to speed this up. Infrastructure spending would certainly help, but that's reportedly been pushed off for at least a year, and, given Republican priorities, might not happen at all. Tax cuts for the rich, meanwhile, don’t have much bang for the buck, stimulative-wise. Other than that, it’s not an exaggeration to say that the extent of his economic policymaking has been taking credit for business decisions that companies had already made, in some cases years ago. That might get a lot of retweets, but it won’t create any jobs."
In Trump’s first full month in office, the economy added 235,000 jobs, the unemployment rate ticked down to 4.7 percent, and wage growth picked up a little to hit 2.8 percent over the past year. The U.S. economy might not quite be great again, but it’s on its way — and it has been for a long time. Indeed, as you can see below, this is the same recovery we’ve had for almost eight years: slow and steady growth, averaging somewhere around 180,000 and 200,000 jobs a month over the past three years. This hasn't been enough to cut unemployment at anything but a gradual pace, but 77 months of a gradual pace can get you pretty far.
The bad news for Spanky is that there isn’t much he can do to speed this up. Infrastructure spending would certainly help, but that's reportedly been pushed off for at least a year, and, given Republican priorities, might not happen at all. Tax cuts for the rich, meanwhile, don’t have much bang for the buck, stimulative-wise. Other than that, it’s not an exaggeration to say that the extent of his economic policymaking has been taking credit for business decisions that companies had already made, in some cases years ago. That might get a lot of retweets, but it won’t create any jobs."
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![laugh-out-loud[1].jpg](https://www.houseofpolitics.com/data/attachments/13/13310-964bf9251b0fb9e29cf72f4ee9342666.jpg "laugh-out-loud[1].jpg")
