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Trump administration is optimistic about failing economic policies

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Trump administration is optimistic about failing economic policies

In an article I wrote last week following Trump’s campaign rally disguised as a State of the Union Address, I documented how his claim that his trade war and tax cuts had produced “the hottest economy in the world” were merely the rhetorical ramblings of a failed “Republican” running for re-election.

Trump’s trade war has created an economic hell that will take years to recover from, and his tax cuts have failed to provide tax relief for the middle class. In addition, when you throw Trump’s big-government spending into the mix, the federal deficit now exceeds $22 trillion.

The stock market fell late in 2018 and all gains made in the year were wiped out, a crash the administration blamed on Democrats and Fed Chairman Jerome Powell.

While the slide on Wall Street was dismissed as a market correction, recently released economic data from the Commerce Department shows that the overall economy ended the year much worse than the White House would have you believe.

U.S. retail sales recorded their biggest drop in more than nine years in December of 2018 as receipts fell 1.2 percent across the board. This is the largest decline in retail sales since Sept. 2009 when the economy was in a recession.

Trump brags about low unemployment numbers, but according to a Department of Labor report released yesterday, unemployment claims increased by 4,000 to a seasonally adjusted 239,000 for the week ending Feb. 9th.

While it’s tempting for some to dismiss yesterday’s report as an anomaly, let’s take a look at the data from another angle.

The four-week moving average of claims — considered a better measure of labor market trends because it irons out week-to-week volatility — was 231,750, an increase of 6,750 from the previous week’s revised average. This is the highest level for this average since January 27, 2018 when it was 234,000. The previous week’s average was revised up by 250 from 224,750 to 225,000.

Of course, the administration famous for identifying unfavorable news as “fake” went right to work trying to spin these economic failures into policy victories.

Saying that he was still “optimistic” about the economy, White House Economic Advisor Larry Kudlow called the retail sales number a “glitch,” and he invited the feds to “step aside” while praising the president for “ending the war on business.” He then parroted SOTU talking points about how the overall economy was “very strong” despite these recent reports.

There are those who label me a pessimist because I refuse to whitewash the political graffiti of optimism Trump and the GOP spray paint on their crumbling wall of lies and broken promises, but in the words of C. Joybell C.: “Some people are optimists. Some people are pessimists. I’m just a realist who believes that some things are worth fighting for.”

Originally posted on StridentConservative.com.

 


David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.

Follow the Strident Conservative on Twitter and Facebook.

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Democrats

Bernie 2020, the union: How organized labor is the latest play for primary points

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Bernie 2020 the union How organized labor is the latest play for primary points

When one Democratic candidate goes to the left, the other candidates lurch to match. We’ve seen it in support for the Green New Deal, Medicare-for-All, and super-high tax rates for the rich. We’re about to see it in regards to organized labor as Bernie Sanders’s campaign has become the first group in presidential campaign history to form a union.

My Take

Whether this was a decision by campaign leadership to demonstrate their boss’s leftist credibility or of they’re simply being the leftists that they are, we can’t be sure. In fact, we’ll almost certainly never know. Either way, it’s done and now all of the other leftist campaigns have to respond.

Expect every major campaign team to unionize soon. It’s not because it will make them more effective. It won’t help them get better benefits or retain their jobs for longer term since the organization will fundamentally change following the election. All it will do is allow them to make the claim they’re so pro-union, they’re willing to accept the lost productivity associated with organized labor.

This is quickly becoming the most symbol-driven primary election season we’ve seen in decades, perhaps ever. It would all be very entertaining if it weren’t so dangerous to the American psyche.

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Economy

Busted: The myth that old 90% tax rates actually worked

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Busted The myth that old 90 tax rates actually worked

One of the favorite tactics for the new Democrats to push their idea of super-high taxes on the rich is to invoke Dwight D. Eisenhower. They say even a Republican President once believed in high taxes on the rich, a time in which the highest tax bracket was 90%.

John Stossel an economic historian Phillip Magness debunked the myth that rich people actually paid the extreme tax rates of the past in this video. As usual, Democrats have selective memories when it comes to anything they want to press.

Back in the days of high taxes for the rich, there were enough loopholes intentionally left open for them to cut their actual tax rates tremendously. According to Magness, the actual average rate paid by millionaires back then was around 41%. With fewer loopholes available today, the highest tax bracket of 37% is close to what is actually paid by those earning the most money. But what would happen if the high tax rates of the past were combined with the lack of loopholes of today? We’d have an economic collapse that would hit so swiftly, there’s no way Democrats would have time to react.

The bottom line is this: the best producers in America will no longer have an incentive to produce here. Some would leave. Others would simply stop producing. It’s easier for them to reduce their revenue and live off their accumulated riches than to earn money for the government to take. Even at a “more reasonable” 70% tax rate, as proposed by some of the top Democrats today, the increase would be too great for most wealthy Americans to bear. We saw this play out in France. We could see it play out here if the Democrats get their way.

Fighting the talking points of the left is one of the biggest reasons conservative sites like NOQ Report exist. We call on those who want to help prevent the rise of socialistic ideas to contribute to us; as a news outlet that is crowdfunded, you’ll notice a conspicuous lack of spammy ads that you find on other sites. This is intentional and allows us to reach a broader audience with the conservative truth.

Democrats love pretending like raising taxes on the rich will solve all of our problems. They know it’s not true, but it certainly sound good in campaign speeches. This isn’t really a tax grab. It’s a power grab designed to confuse the people.

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Economy

Why everyone, even abortion activists, should be happy Ohio court allowed them to defund Planned Parenthood

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Why everyone even pro-abortion activists should be happy court allowed Ohio to defund Planned Parent

The two opposing viewpoints when it comes to funding Planned Parenthood and other abortion clinics are based on whether or not our tax dollars should be used to pay for abortions on demand or not. Planned Parenthood supporters want access for everyone and government money helps achieve this. Pro-Life activists want abortions limited or removed altogether, making funding of abortion clinics antithetical to their cause.

This is why a ruling in Ohio is getting so much attention.

But this isn’t really about pro-abortion versus pro-life. It really isn’t even about whether or not Planned Parenthood should be funded by taxpayers. This portion of the debate is about whether or not a state legislature has the power to decide how the people’s money is spent. For a court, any court, to claim that doing so is unconstitutional should send shivers down everyone’s spine, even those who support funding Planned Parenthood. When the courts decide who gets taxpayer funding, the power of the people is lost.

One of the things that separates NOQ Report from other conservative news outlets is our willingness to go to the heart of a matter. On the surface, this seems like a fight over funding, but the real issue here that everyone seems to be ignoring is the removal of our rights when an overpowered court continues to neuter our elected officials. This is why we request our readers help keep us 100% crowdfunded. We need support to keep these messages flowing.

Let’s fight this battle with our votes. Let’s fight it in state capitals. Even those who oppose defunding Planned Parenthood should be able to recognize that a judge declaring withdrawal of funding unconstitutional is a dangerous precedent. They wouldn’t be so happy about it if a different judge said it was illegal to fund Planned Parenthood. If that were the case, even pro-life conservatives should be screaming about overreach.

Judicial activism is rampant in America. It’s happening on both sides, though the left seems to be much more willing to contort the Constitution to fit their political ideology.

The debate over funding should be fought in the legislature. When the courts step in and declare a legislature does not have the right to fund or defund an entity, it’s clear judicial overreach. Neither side of the debate should want this.

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