Commentary

The Left on the Trump Economy—Desperation, Desperado or Both?

Dan Celia
By Dan Celia | September 10, 2018 | 4:26 PM EDT

President Donald Trump (Photo by Drew Angerer/Getty Images)

If you’re wondering about mainstream media and the lack of reporting on how great the economy is, understand this—the majority of mainstream media and mainstream economists believe that if they continue to talk down this economy, the “prophecy” will be self-fulfilled. Many on the left want the U.S. economy to fail in order to bring down Donald Trump.

Take for example Bill Maher, the liberal HBO host, who stated this summer, “I think one way you get rid of Trump is a crashing economy. So please, bring on the recession. Sorry if that hurts people, but it’s either root for a recession or you lose your democracy.”

And not to be outdone, the left-leaning New York Times’ writer Paul Krugman said the day after President Trump’s election, “So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.”

Fortunately for America, the left’s rooting for economic collapse hasn’t made it happen.  

It’s ironic that I was recently criticized for my overly optimistic take on the economy, because during the Obama administration, I was constantly criticized for my overly pessimistic take on the economy.

I’ll say now what I said then—I’m not pessimistic and I’m not optimistic. I’m reporting what the real economic numbers show. Read that as optimism or pessimism, but it’s nothing more than looking at the economy through the lens of real economic fundamentals. If they are good, that is a cause for optimism; when they are bad, it’s a good reason to be pessimistic. During the Obama administration, the underlying fundamentals were pathetic—and we had good reason to be negative.

Let’s take a quick look at the numbers. The U.S. unemployment rate is currently 3.9 percent, the lowest in 18 years. Female unemployment is the lowest in 65 years. Manufacturing jobs are growing at the fastest rate in 23 years. African-American unemployment is the lowest in U.S. history. Wages have increased more in 2017 than any year since 2008. Plus, 2.8 million Americans have now dropped off the food stamp rolls, and GDP has been revised upward to 4.2 percent in the most recent quarter.

During the past 19 months, economic fundamentals have continued to get stronger, and for the first time in over 12 years, we have seen a positive correlation between those numbers.

As much as I believe the underlying fundamentals of this economy are as strong as they have been in 15 years, I have no choice but to report this as optimism in the forward momentum of the economy.

 

One thing hasn’t changed. I’ve always said we cannot focus on the markets; I said it when everything was down, and I’m saying it now when things are good. We need to stay focused on the fundamentals of the economy. And for the first time in a very long time, the markets are being driven by the economy, not by any false positives from central banks around the globe or the Federal Reserve or government intervention.

GDP, for the first time in 14 years, is showing signs of real opportunity to finish the year at or above 3 percent.  There can never be claims of a strong economy without productivity, without job creation and without real GDP growth—all the things we have right now.

All this is driving liberals absolutely crazy, and they are desperately trying to distract America from what is happening in this economy, but they haven’t figured out yet that this will be an impossible task because Americans can feel and see the impact of a president who cares deeply about Americans and is unconditionally dedicated to putting America first.

When it comes to the left’s desperate attempts to distract us, the only thing they can do is get rid of the one who is the creator of this pro-growth, pro-America agenda. Unfortunately, they are just getting started.

If you haven’t been praying for this president and for America, it’s time to start.

Dan Celia is president and CEO of Financial Issues Stewardship Ministries, Inc., and host of the nationally syndicated radio and television program “Financial Issues,” heard daily on more than 650 stations across the country and reaching millions of households on several TV networks. Visit www.financialissues.org.

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