Page 18 - TFRW PNL Oct 2018
P. 18
Inspire. Unite. Achieve.
Are You Better Off Now From Newsmax.com’s financial contributor Ed Moy
Than You Were comes an interesting article about that is largely
18 Months Ago? being ignored by a majority of media outlets.
ven if reporters won’t report it, Americans are now working, after dropping
Americans don’t need the news to tell out of the workforce in droves during the
Ethem what they experience every day. . . Obama years.
Donald Trump has delivered.”
Today, there are 6.7 million new job openings,
“With midterm congressional elections exceeding the number of job seekers for the
approaching, it’s worth asking candidate first time. Wages, declining during the Obama
Ronald Reagan’s famous question of presidency, are once again growing. Though
incumbent President Jimmy Carter, “’Are you the pace could be even faster, wages grew last
better off now than you were four years ago?’” month by 1.6 percent, the biggest increase so
far this year. And with the recent tax reform,
For many Americans in 1980, the answer was
taxpaying Americans are keeping more of
no. Under the Carter administration, inflation
their paychecks.
worsened to 14.76% and unemployment hit
6.3%. The government failed to revive an
ailing economy, impacting citizens where it Today, there are 6.7 million new job
hurt the most: their wallets. The Republican openings, exceeding the number of job
challenger crushed the Democratic incumbent seekers for the first time.
on November 4th.
Several decades later in the weeks leading
In 2018’s second quarter, economic growth
up to the 2014 midterm, President Barack
is chugging along at nearly 4 percent GDP
Obama cribbed his predecessor’s question,
growth, according to JPMorgan. That’s a
asking if voters were better off than they were
quicker clip than the 1.6 percent growth that
before he took office. The economy was much
closed out 2016 and the new normal of 2% that
improved – for Wall Street rather than Main
Obama claimed Americans should accept.
Street. Voters answered no, handing control of
Congress over to the GOP. This is emboldening consumers: retail sales
are up nearly 6.6 percent from the summer of
Now, four years later, on the eve of another
2017. Consumer sentiment, surging since Trump
midterm, are Americans better off now, in
took office, has taken a hit due to potential
2018, than they were in 2016? Nearly every
trade wars brought on by tariffs. Still, even at
indicator, economic and otherwise, points to
97 percent, it’s outpacing the 87.20 of October
yes. But good luck hearing that on the news.
2016, though it’s a drop from the high of 101.40
America’s economy has added 3.2 million from March of this year.
jobs since January 2017. Unemployment sunk
A happy result of this economic news: the
from 4.8% at the end of Obama’s second term
number of Americans seeking assistance
to an 18 year low of 3.8%. But wait, there’s
through the Social Security Administration
more. Unemployment for African, Asian, and
is now less than 1.5 million. This trend --
Hispanic and female Americans is at record
the number is the lowest since 2002 -- is
or decade-long lows. A record 155 million
(continued on the next page)
PRESIDENT’S NEWSLETTER | OCTOBER 2018 18 TEXAS FEDERATION OF REPUBLICAN WOMEN
