How does Trump’s economy stack up against ‘gloom and doom’ Democrats?

“We are in the midst of an historic economic boom, one that the so-called experts never saw coming,” said Fox Business host David Asman on Fox Nation’s “Deep Dive.”

But that hasn’t stopped the top 2020 Democratic candidates from arguing that the economy is not working for most Americans under President Donald Trump’s administration.

“The middle class is getting killed; the middle class is getting crushed,” claimed former Vice President Joe Biden during the sixth Democratic presidential primary debate last month. “The working class has no way up, as a consequence of that,” he continued.

“America’s middle class is being hollowed out,” said Sen. Elizabeth Warren D-Mass., at that same debate in Los Angeles. “Working families and poor people are being left behind.”

However, a majority of Americans apparently do not share that sentiment, according to an early December poll from Quinnipiac University, which showed that 54 percent of registered voters nationwide approve of President Trump’s handling of the economy.

“Will a gloom and doom from Democrats be overshadowed by the great news on the economy?” Asman asked his “Deep Dive” panel.

“Americans are reflecting the reality, which is historically low unemployment rates. We are in a financial situation that I don’t think anybody could have predicted a year ago, let alone in 2016 when the president was elected,” said Jeanne Zaino, who is a professor of political science and international studies at Iona College.

Nobel Prize winner Paul Krugman said on election night that we’d have a stock market crash from which we’d never recover,” Asman pointed out, “Instead, stock market indexes have been skyrocketing about 50 percent or more since Trump’s election.”

“The bottom 10 percent of wage earners in America had a 7 percent increase in their wages since the tax cuts kicked in,” he added. “I mean, they are seeing gains not only in terms of their job situation and their wages, but also in terms of the tax cuts themselves. We’d been told that they were just for the rich.”

WHERE GAMBLERS ARE PUTTING THEIR MONEY IN 2020 ELECTION

“The numbers are huge here,” added Deroy Murdock, contributing editor for National Review Online and a Fox News contributor.  “The median family income, median household income under Trump in two and half years has gone up about $5,000. Under Obama over eight years — about $1,000. Under Bush over eight years — about $400. So the increase under Trump is enormous.”

“I think for Democrats it does raise a challenge,” concluded Zaino. “How do you run against a president, an incumbent president with an economy this strong? It’s an 80 percent reelection rate. He’s got the wind at his back. Well, you’ve got to change the conversation. And Democrats haven’t done that.”

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One Reply to “How does Trump’s economy stack up against ‘gloom and doom’ Democrats?”

  1. Trump inherited a deficit of $585 billion when he took office in January 2017. That was 58 percent lower than the $1.4 trillion former President Barack Obama inherited in 2009 following the financial crisis, a number his administration slashed over two terms.

    According to the latest Congressional Budget Office data released on Monday, the full-year deficit for 2019 is estimated to come in at $984 billion, just shy of the $1 trillion that many analysts were expecting. In 2018 the figure was $779 billion and in 2017 it was $665 billion.

    “Relative to the size of the economy, the deficit—at an estimated 4.7 percent of gross domestic product (GDP)—was the highest since 2012, and 2019 was the fourth consecutive year in which the deficit increased as a percentage of GDP,” the CBO said in its report.

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