Job report! Fake news!
Well, that's what the Right said for the entirety of Barack Obama's presidency as he pulled the economy out of the drink, wasn't it? And the economy he helped create keeps churning along, as the latest jobs figures attest.
Of course, play president Donald Trump is claiming credit for something which had been laid down for years before he assumed power. Much like Pres. Obama was blamed for the catastrophe he inherited. And if you look in the usual quarters of the Right, there is much crowing about the "Trump economy".
Except it isn't the "Trump economy". Whether they like it or not, this is still the Obama economy. Not a single bill helping the economy has left Congress for Trump's signature. Many companies are laying off workers, while others take them on. Coal is still not returning to Appalachia. Trump's effect on the economy has been non-existent.
But it will be the Trump economy if he succeeds in destroying the Affordable Care Act. You'll see a contraction of economic activity. You'll see people out of work. You'll see more bankruptcies due to medical bills. You'll see hospitals close or cut back due to the lack of funding provided by the ACA. Trump's first effect on the economy is promising to be a deleterious one.
And then, of course, if the Trump budget passes as is, you'll see even further contraction in the economy. Robbing from the middle class and poor to pay for tax cuts for the rich has never stimulated an economy. The exact opposite is what happens. (Remember, we tried this as recently as 2001-2009.)
The Obama expansion is not going to go on indefinitely. Even under a President Hillary Clinton we would have eventually seen a dip. That's just the business cycle. But the difference between the fantasy of Mrs. Clinton and the reality of Trump is that he is setting us on a road to gut the economy. His budget, and that of the GOP in Congress, is a recipe to make a normal business cycle even worse. And thanks to 80,000 voters in Pennsylvania, Wisconsin, and Michigan, there's no Democrat in the White House to bring us in for a soft landing. Hopefully those voters will get it in the neck first.
CALIFORNIA ODDS AND ENDS
In Los Angeles County, Measure H—an initiative to address the homelessness crisis—passed by the requisite 2/3s majority. The sales tax will be raised to provide $325 million per year for 10 years to fund homeless programs.
In the Senate, SB-1 has passed through two committees. The bill will raise $6 billion to address California's crumbling infrastructure. It's much cheaper to effect repairs than to wait for roads and bridges to collapse and have to rebuild them from scratch.
Amazing what happens when Democrats are in charge.
Like what you read? Chip in, keep us going.