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Donald Trump Economics The Trump Adminstration Uncategorized

Trump Slump: At Least 1 Million U.S. Jobs Expected To Vanish Over The Next 30 Days

For months now, Donald Trump has been bragging that the U.S. economy is the strongest in the world and the envy of every other country.


But on Monday the Dow Jones Industrial Average fell nearly 3,000 points, a full 12.9 percent of its value, and even conservative economists are now saying a global recession has arrived, thanks in part to the coronavirus scare.


How bad could the Trump slump get? Economist Kevin Hassett, who served as President Trump’s chairman of the Council of Economic Advisers (in other words, not a liberal or member of the “deep state” as Trump often likes to allege when he disagrees with someone) warned Monday on CNN that he expects the U.S. to shed at least 1 million jobs over the next month, remarking:

“I think in the U.S., we’ll have a very terrible second quarter. We just ran the numbers carefully over the weekend, and we think the second quarter will be about minus-five percent, and we think the jobs number in early April might be as much as minus a million or so, because nobody is going to get hired next week.”

Did you get that? 1 million jobs will be gone. When you consider that hundreds of thousands of new jobs are usually created in a good month of job growth, Hassett has now projected that a million jobs will not be created or possibly even vanish via layoffs. That’s how a recession begins: When job growth becomes negative and people stop spending.


And things will only get worse as COVID-19 infects more people and a sense of fear and dread takes hold in the U.S. That’s already happening in places like Italy, where the entire nation is basically in a state of total shutdown, with next to zero economic activity.

The Trump recession has arrived, and as the old political axiom tells us when it comes to elections: It’s the economy, stupid!

Categories
Economics Taxation Taxes and the Economy

Sarah Huckabee Sanders Asked Twitter For Reaction To Trump’s Tax Plan – That Was A BIG Mistake

For some strange reason, President Trump and members of his administration seem to have a bizarre need to take whatever happens to be wandering through their normally empty brains and splatter it all over social media. Twitter, of course, is Trump’s favorite medium, probably because it’s limited to 140 characters and that’s about as long as Donnie can manage to focus on anything.

This time, however, the West Wing culprit who got stomped down on Twitter is Press Secretary Sarah Huckabee Sanders, who posted this Sunday evening:

The way Trump is fond of insulting countries with nuclear weapons–i.e. North Korea–I’m guessing most of us would probably say the plans for our $4,000 (don’t hold your breath waiting for it to materialize) would be build a fallout shelter or book passage to a remote island as far away from the United States as possible.


But as many of us learned a long time ago, you need to be careful what you ask others to respond to on social media. Fortunately for us, Sanders is too brain-dead to know that, and the responses she got are freaking awesome. Take a look:

https://twitter.com/JCESQ82/status/922467696666726400

This article was originally published by the same author at LiberalAmerica.org

Categories
Economics

Disappointing Jobs Report Issued; Fox News Morons Call It ‘Most Successful Day’ Of Trump’s Term

If you want to find genuine “fake news” day and night, you need look no further than Fox News. Fox specializes in the big lie, exaggeration, and the downright absurd.

Such was the case Friday morning shortly after the jobs report for March was issued by the Department of Labor. It showed that only 98,000 new jobs were created, a far cry from the 219,000 in February. But to hear that dolts on Fox and Friends tell it, this was perhaps the high point of the rapidly sinking Trump administration.

Dimwit Steve Doocy put on his hyena grin and announced:

“The new unemployment rate in the United States has fallen to 4.5 percent. Good News.”

Ainsley Earhardt and Pete Hegseth were also enthusiastic until Doocy mentioned that less than 100,000 jobs were created. Two seconds later, however, he practically lit up as he repeated:

“But the new unemployment rate: 4.5!”

Then Earhardt mused out loud that with the strikes on Syria Thursday evening, Trump’s approval rating is likely to go up. How’s that for being a craven warmonger? Doocy agreed with her:

“Probably going to go up.”

Next, Pete Hegseth had to get his two cents worth in, saying:

“Well yeah, and that’s not why you do anything like this. But if you show decisive leadership people appreciate that. If jobs are coming back, you’re nominating a Supreme Court justice that will be confirmed today, that’s progress.”

Oh, it’s not why you do something like this? Is that right? Did anyone bother to tell Trump that before he ordered those cruise missiles to be fired? Because it sure feels a lot like wagging the dog to me. The impostor head of state is way down in the polls, under investigation, and cannot manage to get anything passed in Congress. What a perfect time for some American firepower to be displayed as a diversion. Look, kids: Fireworks!

The inanity hit critical mass when Doocy proudly stated that Friday could wind up being “the most successful day thus far of the Trump presidency.”

When Trump is impeached, no doubt the Fox propagandists will pretend it’s only a minor setback.

https://www.youtube.com/watch?v=6vsSk_NApAI

This article was originally published by the same author at LiberalAmerica.org

Categories
Economics Politics

Trump Supporter Gets LAUGHED AT When Caught Lying About The Donald’s Economic Plan (VIDEO)

If you’ve taken time and looked at the economic plan offered by Donald Trump, then you’ll know it’s just a rehash of the same trickle down policies which have failed miserably in the past. Trump would cut taxes for the rich and that would somehow magically spur economic growth. Oddly, however, it didn’t work for Ronald Reagan or George W. Bush.

On MSNBC the other day, a Trump supporter–Brian Baker, president of a super PAC that supports the Orange Menace–was asked about projections from the Committee for a Responsible Federal Budget which projects that the Trump plan would raise the federal deficit by $5.3 trillion. Fellow panelist Sam Stein asked Baker:

“As someone who just admitted that you’re very concerned about debt and the deficit, surely you must be petrified by the fact that Donald Trump would increase it by $5.3 trillion over ten years, right?”

Baker replied:

“Well, I think that’s a great question,but the Committee for a Responsible Budget doesn’t assume any economic growth. Trump is talking about creating jobs.”

Stunned by the absurdity of what Baker had just suggested, Stein sought clarification to make sure he had heard correctly:

“You’re talking about dynamic growth that will cover $5.3 trillion over years.”

Baker:

“Of course.”

Stein couldn’t help but laugh at the ridiculous assertion Baker had just made, adding:

“Alright.”

And as if Baker hadn’t already done enough to prove he had no idea what he was talking about, he deepened the hole he had just dug and jumped into:

“Once you put people back to work, once you have high-paying jobs, more jobs, the government will collect more in revenue and that’s how you balance the budget. Hillary Clinton won’t do any of that.”

Another panelist, former Congressman Harold Ford rightly noted:

“The last time the budget was balanced, it was balanced by a Clinton, just for the record.”

The Trump model for the American economy is nothing but smoke and mirrors. It’s loaded with massive tax cuts for the richest one percent and an increased tax and debt burden for everyone else. In other words, it’s a humongous lie, just like everything else Trump says.

https://www.youtube.com/watch?v=Hz3rzE-gXVo

This article was originally published by the same author at LiberalAmerica.org

Categories
Economics Fox News Lies Money The Economy WTF?!

WATCH: Fox Business Host Pines For The Days Of Child Labor And No Minimum Wage

We’ve all heard our elders tell us about “the good old days,” and how much simpler life was back in the day. No doubt some of that is true. But was it good that there was a time in this country when children were forced to work and people were barely paid enough to buy food? Well, according to Fox Business host Stuart Varney, that was indeed a great thing.

On Friday, minimum wage increases–to $15 an hour–went into effect yesterday in 15 American cities, and to hear Varney and his guest Tammy Bruce tell it, it’s the end of the world as we know it. Bruce remarked:

“This we’ve learned from Seattle, and some other cities that have already implemented it, that jobs are lost. That this, it’s — the burden is put on the back of other struggling people. You will fire individuals in order to maintain that the salary requirement of the others that you have there. And others, of course, are putting — fast-food places are putting in robotics, and kiosks, so you can order your own food. This is what’s going to happen.”

That, of course, is a blatant lie, which is something both Fox News and Fox Business specialize in.

Varney then turned the debate over to John Layfield, who was in Bermuda and said what a great place it is for business because there’s no minimum wage and children work for tips. Heaven on earth! Layfield said:

“There actually isn’t a minimum wage here, right now. You see some of these young kids — I run a program for at-risk kids — down, sacking groceries, about age 12, and they work off tips. So there isn’t actually a minimum wage here.”

Yes, Bruce chimed in, “that’s how it used to be.” Which prompted Layfield to add:

“And it actually works fine. The problem I have with this $15 minimum wage is why 15, because it looks good on a bumper sticker? You’re not talking about fixing anything. Tie it to inflation, or a basket of wages, so you take it out of politics and union hands. That’s all it is.”

Ah yes, if only the United States could be a great economic power like Bermuda.

For more of this discussion, watch the video below:

This article was originally published by the same author at LiberalAmerica.org.