Prevarication is a word that means equivocation, fabrication, evasion of the truth, lying. Yes, it’s true in almost all political discourse and is often chaff in the words cast about in verbal and written assaults and exotic praise. In our present world of political correctness new tax legislation passed by Congress on December 22nd, 2017 was intended to put more money in the hands of businesses of all sizes so that worker wages could be increased. Just several weeks later in January of 2018, Nancy Pelosi, House Minority Leader announced that workers were receiving ‘crumbs’ and added, “It’s so pathetic.”
What the liberal intellectual logic does not understand is that additional profitable revenue must be available for paying higher wages. Additional capital generated by reduced regulations assists companies in expanding and refining products for existing and new markets. It is an illusion that raising the minimum wage helps the economy. Raising the minimum wage without lowering costs and increasing revenue actually increases costs and reduces the number of jobs available.
According to one analysis, Obama’s economic recovery was the slowest recovery in the history of the republic. During the first three years of recovery during the Obama administration, jobs increased by just 1.72% while Clinton and Bush (41) had increased jobs by 3.64%, Bush (43) increased by 2.93% and Reagan increased jobs by 8.97%. Recipients of food stamps, disability checks and Medicaid have been reduced by millions of people who have gone to work in the growing economy. These are not statistics that Mr. Obama used in a speech at The University of Illinois on September 4th, 2018.
Mr. Obama also won’t explain to audiences that during his eight-year tenure as President, the national debt increased by about $9 trillion, the most of any president in history. Citizens of our great nation are now saddled with $21 trillion or $65,000 per citizen and $176,000 per taxpayer.
Let’s look at the economic situation as it currently exists. The Labor Department through its Bureau of Labor Statistics (BLS) reported a few days ago that 201,000 new jobs were reported in August, average monthly job additions YTD are 207,000. Wages are up by 2.9% over same month 2017 and unemployment is steady at 3.9% and participation rate is also flat at 62.7% (161,776,000 workers out of an available population of 258,066,000). The Federal Reserve will probably increase short-term interest rates another ¼ % in late September. It is important to note that that as interest rates rise slowly, cost of borrowing will increase and investment earnings will likewise increase following several years of suppressed earnings.
Tariffs are an important component of the economic scene and our importing and exporting will undergo some points of stress. Affected will be agricultural and metal commodities but according to the administration the effort will be worth it. The reason is that President Trump believes for many years the United States has been getting the ‘short end of the stick’ from our international trading partners. The Trans-Pacific Partnership pact that was signed in February 2016 by 12 nations located on the ‘Pacific Rim’ is an example.
When the Obama administration had negotiated the conditions of the agreement, the related papers were placed in a room below the Capitol Visitor Center. Congressmen/women who wanted to explore details of the pact were handed papers to read while officials watched and any notes taken were required to be handed over to the official. Those who read any part of the agreement were told that details could not be discussed. The reason for the security would be known by any Congressman/woman or nitwit that the purpose was to have the president and his coordinators (his top appointees) be trusted to make a good deal for the good old USA.
It is easy to see why Trump has changed so many ‘deals’ made by the Obama administration; the Syrian ‘Red Line’ failure, the Iran nuclear deal, the childish ‘reset button’ with Russia and the Affordable Care Act passed without input from Republicans. Corruption and scandal were hallmarks of the Obama administration; remember Lois Lerner of the IRS, the 2010 Mexican Border scheme of ‘Fast & Furious’, the Benghazi deaths in 2012 and many others.
Let’s finish the job of ‘Draining the Swamp.’ VOTE!