As Economy Roars Back, Democrats Could be Road Kill (Again)
As the Coronavirus shut down the American economy, the Democrats may have hoped for a light at the end of the tunnel. Economists with their fuzzy science and nebulous predictions foresaw what the Democrats hoped would be a 20 percent unemployment rate. That light, however, appears to be a Trump good-news train heading straight for them, courtesy of the June Jobs Report just released by the Labor Department.
“Our economy is roaring back,” said President Trump yesterday in response to the report. “These are historic numbers…. The United States economy added almost 5 million jobs in the month of June, shattering all expectations. The stock market is doing extremely well … this is the largest monthly jobs gain in the history of our country.”
The June report also showed the unemployment rate fell drastically. Previously it hovered around 13.3 percent. Yesterday’s report showed it fell to 11.1 percent. Economists had predicted it would fall to 12.3 percent with an increase of just 3 million jobs. In the words of a senior US economist at Capital Economics, “The 4.8 million rise in non-farm payrolls in June provides further confirmation that the initial economic rebound has been far faster than we and most others anticipated.”
And that begs the question, why should anyone listen to economists?
Democrats and the Trump hating media, are still grasping at straws. That same economist said, “But that still leaves employment 9.6% below its February level, and with the spread of the virus accelerating again, we expect the recovery from here will be a lot bumpier and job gains far slower on average.”
On the other hand, those economists might want to sit down and shut up on this issue. COVID-19 is a virus and can be defeated. The race continues to develop a vaccine that will stop it in its tracks. Scientists are testing multiple approaches, and experience shows there is a high probability of success.
Democrats, however, hope that the vaccine doesn’t come out until after the next election. They and their mainstream press allies are desperately bombarding the Trump administration with charges of mismanagement of the pandemic as their candidate Joe Biden hides in his basement.
Meanwhile, the latest Democrat scandal mongering centers on the absurd charges that President Trump stood by and did nothing as Russia paid the Taliban a premium to kill U.S. soldiers. Reporters still seem to be unable to understand the meaning of the word “hoax,” even after having their credibility dragged through the mud over and over during the past three years.
In any case, the improving economic numbers show the power of free enterprise in a vast country where Democrats (and economists, apparently) have lost touch. We are in the midst of a rerun of clueless Hillary’s campaign. Hillary, remember, carried on the Obama legacy of abandoning working Americans in favor of identity, unicorn rainbow politics.
So, in the final analysis, the free enterprise economy of the United States, even in the face of a destructive pandemic, is unstoppable. Still, in 2020 total government expenditures account for 37% percent of the country’s GDP. The GDP is the total market value of all the finished goods and services produced within the United States, which has averaged about $20 trillion for the past two years.
And even encumbered by a parasitic class of politicians, deep-state bureaucrats and people who get free money from taxpayer funded handouts, our economy has managed to survive and bounce back.
That’s terrible news for clear thinking Democrats, who were counting on economic collapse to take down the President. However, they haven’t given up their forlorn hope for a spoiled economy just yet.